Russia cautiously warms up to digital asset payments as Putin warns of power disruptions

    coingeek 2024-07-26 72485 views Trending
    ​Russia’s anti-money laundering chief has urged the country to expedite digital asset payments in international trade, but President Vladimir Putin has warned that miners could disrupt the country’s national grid.

    Jordan launches national blockchain network

    coingeek 2024-07-25 39433 views Web3
    ​Jordan has launched a new national blockchain network to enhance transparency and promote trust in the public service sector.Known as MODEE DLT, it was unveiled this week by the Ministry of Digital Economy and Entrepreneurship (MODEE). The ministry partnered with local blockchain firm Blockexe on the project.

    Nigeria begins implementation of national blockchain policy

    coingeek 2024-07-24 50165 views Trending
    Nigeria has officially kickstarted implementing its national blockchain policy, which aims to push for the integration of the technology in the private and public sectors.

    South Korea’s first digital asset law comes into force after year of finessing

    coingeek 2024-07-23 50547 views Trending
    South Korea’s first digital asset regulatory framework came into force, with the framework focusing on investor protection and mandates that exchanges keep at least 80% of user deposits in a cold wallet.

    Hong Kong unveils stablecoin consultation results

    coingeek 2024-07-22 39419 views Trending
    ​Two of Hong Kong’s leading financial regulators have bared the results of stablecoin consultations conducted in 2023 as the city-state’s digital asset policies take shape.FSTB launched the consultation in December in partnership with the Hong Kong Monetary Authority (HKMA). It cited the collapse of TerraUSD (UST), the $18 billion algorithmic stablecoin disaster, as one reason fast action to regulate the sector was necessary.

    South Korea’s ruling party wants to postpone 20% digital asset tax to 2028

    coingeek 2024-07-19 52742 views Trending
    ​South Korea’s ruling party has proposed postponing the disputed 20% tax on annual digital asset gains by yet another two years.Originally scheduled to take effect in 2021, the proposed taxation caused uproar in the South Korean digital currency space, forcing the government to postpone it to 2023 to prepare the industry better.

    EU, UK regulators launch consultations on digital asset data reporting and wallets

    coingeek 2024-07-18 44770 views Trending
    Tech consultation season has kicked off in Europe, with regulators from the United Kingdom and the European Union seeking feedback on digital asset-related issues.On July 15, the European Banking Authority (EBA), an independent EU Authority in charge of prudential regulation and supervision across the European banking sector, launched a consultation on draft guidelines for digital asset issuer reporting requirements.

    From street vendors to large stores, Indian merchants adopt digital payments: survey

    coingeek 2024-07-17 64272 views Trending
    Digital modes of payment account for about 69% of total transaction volumes for Indian merchants, with street vendors such as fruit and flower sellers, food stalls and small stores joining the digital payment revolution. On average, these vendors receive almost half of their payments digitally, revealed a survey by consulting firm Kearney, in association with Amazon Pay.

    US legislator urges Congress to declare Binance exec ‘hostage’ of Nigerian government

    coingeek 2024-07-16 57045 views Trending
    ​Two legislators in the United States have called on Congress to declare Binance executive Tigran Gambaryan a hostage of the Nigerian government if he’s not released soon.

    China scores diplomatic win following AI resolution passage at UN

    coingeek 2024-07-15 69545 views AI
    ​China’s plans for global regulatory standards for artificial intelligence (AI) have reached a historic milestone after its resolution received unanimous support at the United Nations General Assembly.The Chinese-sponsored AI resolution sought to create an even development for AI worldwide to prevent the technological gap between the global North and South. More than 140 nations supported the resolution, noting that the undertaking could have far-reaching consequences for the emerging technology.

    Taiwan central bank starting wholesale CBDC trials, but not in a rush to launch

    coingeek 2024-07-12 52738 views Trending
    The Governor of the Central Bank of the Republic of China (Taiwan), Yang Chin-long, has said that central bank digital currency (CBDC) is not a race or an international competition, and the central bank has no issuance timetable for its digital New Taiwan dollar.

    Brazil bars Meta from using citizens’ data to train its AI, cites ‘irreparable’ damage

    coingeek 2024-07-11 79002 views Trending
    ​Brazil’s data protection agency has prohibited Meta from using its citizens’ data to train its artificial intelligence (AI) models.In May, Meta revealed that it plans to use public data from Brazilians on Facebook, Instagram and Messenger, such as photos and captions, to train its AI. The tech giant announced the move in other markets, but some have warned against it.

    Bahamas to force banks to support its CBDC

    coingeek 2024-07-10 73760 views Trending
    ​The Bahamas plans to force its commercial banks to support its Sand Dollar CBDC, the country’s central bank governor has revealed.Sand Dollar was launched in October 2020 as the world’s first central bank digital currency (CBDC). The Central Bank of the Bahamas believed that the digital currency would boost financial inclusion, “reduce service delivery costs and increase transactional efficiency for financial services.”

    Russia pushing ‘crypto’ payments, SWIFT alternative as sanctions bite

    coingeek 2024-07-09 49118 views Trending
    ​Russia’s central bank has been encouraging alternative payment systems, including digital assets, as sanctions from Western nations continue to disrupt the country’s cross-border payments.

    Automobile blockchain market sees a significant increase in adoption: report

    coingeek 2024-07-08 43875 views Trending
    Blockchain technology has come a long way, from its humble beginnings in 2009 to hogging the spotlight in recent years. Although the emerging technology has fallen behind artificial intelligence (AI) in recent years, blockchain use cases in the automobile sector are poised to reach new highs.

    Germany losing out in AI race, KfW bank says

    coingeek 2024-07-05 35666 views Trending
    ​Germany has failed to keep up with global artificial intelligence (AI) leaders, and the gap is widening, says the country’s state-owned development bank KfW.German scientists have been researching AI for decades and have made significant contributions to the industry. However, this expertise has failed to translate into real-world applications, says Fritzi Köhler-Geib, the chief economist at the Frankfurt-based bank.

    BIS: Central banks must raise their game to keep pace with AI

    coingeek 2024-07-04 47221 views Trending
    ​Central banks must embrace artificial intelligence (AI) and leverage it to “sharpen their analytical tools,” says the Bank for International Settlements (BIS) in its first comprehensive AI report.

    ECB issues first digital euro ‘preparation phase’ progress report

    coingeek 2024-07-03 58766 views Trending
    The European Central Bank (ECB) has published the first report on its digital euro preparation phase, including updates on offline functionality, holding limits and the tender process for digital euro component providers. Privacy was also highlighted, following on from a June 13 blog published by the ECB on how to make the digital euro “truly private.”

    Middle East in strong position for AI innovation: report

    coingeek 2024-07-02 45664 views Trending
    While there is a noticeable gold rush for artificial intelligence (AI) globally, enterprises in the Middle East are matching the zest of their counterparts in other regions in integrating AI into their processes.

    Huawei records huge leaps in AI, rivaling US and European counterparts

    coingeek 2024-07-01 41230 views Trending
    ​Chinese-based technology company Huawei says it has recorded impressive strides with artificial intelligence (AI) and its native operating system despite a raft of headwinds slowing its momentum.

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