Central Banks Prioritize Legacy Payment Systems Over CBDCs
TradFi appears to be safe on the international payments market for the foreseeable future, despite advances in blockchain solutions. In its annual Future of Payments survey, the Official Monetary and Financial Institutions Forum (OMFIF) has revealed a notable decline in enthusiasm among central bankers for central bank digital currencies (CBDCs) despite increasing research efforts in […]
New York Regulator Poised To Approve Ripple Labs’ RLUSD Stablecoin: Report
According to CoinGecko data, the entire stablecoin market capitalization as of November 29 was over $196 billion. The New York Department of Financial Services (NYDFS) is anticipated to approve Ripple Labs’ RLUSD stablecoin, an overcollateralized dollar-pegged asset, within the coming days, according to sources cited by Fox Business. A Nov. 29 report by Fox Business […]
Indonesian Cryptocurrency Transactions Exceed $30B in 2024
Transaction totals in 2024 are up more than 350% year-over-year but still far lower than Indonesia’s 2021 highs. The Indonesian cryptocurrency market reported over $30 billion in transactions from January to October 2024, a 350% year-over-year surge and the highest total since the 2021 bull market. Data from the Commodity Futures Trading Supervisory Agency shows […]
Justin Sun’s Eats $6.2M Banana, Snack That Made Art History
Crypto mogul Justin Sun made news after eating a Banana from the $6.2 million artwork he acquired. Last week, Justin Sun grabbed attention by purchasing the iconic artwork Comedian—featuring a banana duct-taped to a wall—for $6.2 million. The TRON founder had previously announced plans to eat the banana, and he followed through by consuming it […]
Russian President Putin Signs Game-Changing Crypto Tax Law
Russian President Vladimir Putin recently signed a new crypto taxation law exempting VAT on crypto mining and sales. Russian President Vladimir Putin has signed into law a new framework for cryptocurrency taxation, officially recognizing digital assets as property. This legislation also applies to digital currencies used in foreign trade settlements under the “experimental legal regime (ELR).” Crypto […]