Brazil’s CBDC Functionality to Allow Central Bank to Manage User Funds
Pedro Magalhes, a blockchain developer, claims to have successfully reverse-engineered the code of the Brazilian central bank’s test digital currency (CBDC). He identified the capabilities that allow a centralized authority to freeze funds or lower balances. Although there have been questions about these capabilities, the developer contends that there may be circumstances in which they […]
Digital Rouble Bill Passes Parliament In Russia
The lower chamber of the Russian parliament, Gosduma, passed the “digital rouble” bill in its third reading on July 11. The document must now be confirmed by the superior chamber and signed by the President. The law, whose draft was most recently revised at the end of June, establishes the legal definitions of “platform,” “participants,” […]
Celsius Network Files Lawsuit to Recover $150M from StakeHound
Insolvent cryptocurrency lender Celsius Network has filed a lawsuit against staking platform StakeHound for allegedly failing to return $150 million worth of Celsius’s tokens. Celsius placed 40 million Polygon (MATIC), 66,000 Polkadot (DOT), 25,000 staked native Ether, and 35,000 Ether (ETH), according to a court filing. Celsius emphasized that the total value of these tokens […]
Incorporating Blockchain Into Business – A Practical Guide
There are many threats facing businesses in today’s ever-changing digital landscape. Due to its inherent transparency, immutability, and decentralized nature, many companies are thinking of incorporating blockchain into business. From banking to managing supply chain management, most businesses are starting to see how blockchain can help streamline operations and build trust among stakeholders. However, embracing […]
US SEC v. LBRY: Final Judgment Issued
The LBRY judgment has implications for Ripple and Coinbase, and raises concerns regarding securities classification and SEC defenses. The United States District Court for the District of New Hampshire has issued its definitive judgment in the case of Securities and Exchange Commission (SEC) v. LBRY, Inc. The Court has determined that LBRY, Inc. violated Section […]