Business

Hong Kong Expands Cross-Border Digital Yuan Trial with E-CNY Wallets for Residents
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Hong Kong Expands Cross-Border Digital Yuan Trial with E-CNY Wallets for Residents

The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) have expanded their cross-border digital yuan pilot, allowing Hong Kong residents to use e-CNY wallets. This initiative aims to facilitate retail payments without enabling person-to-person transfers. The digital yuan, or e-CNY, is China’s central bank digital currency (CBDC), which has been in...

Germany’s LBBW Bank to Launch Crypto Custody Services with Bitpanda
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Germany’s LBBW Bank to Launch Crypto Custody Services with Bitpanda

Landesbank Baden-Württemberg (LBBW), Germany’s largest federal bank, has announced its plans to launch crypto custody services, tapping into the increasing demand from its corporate and institutional clients. This move underscores a significant pivot towards integrating cryptocurrencies within traditional banking frameworks. In collaboration with Austrian-based Bitpanda, LBBW aims to introduce an “investment-as-a-service” infrastructure that will support...

Bitcoin Mining Firm Stronghold Digital Mining Faces Environmental Lawsuit
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Bitcoin Mining Firm Stronghold Digital Mining Faces Environmental Lawsuit

In Pennsylvania, Save Carbon County, a community group, has filed a lawsuit against the Bitcoin mining company, Stronghold Digital Mining. The lawsuit alleges that Stronghold contributes to environmental pollution by utilizing old coal refuse and tires as energy sources for its mining operations. Accusations include the release of mercury and the pollution of waterways, prompting...

Bitlux Integrates Cryptocurrency for One-Third of Private Jet Bookings
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Bitlux Integrates Cryptocurrency for One-Third of Private Jet Bookings

Bitlux, a leading private aviation company based in Boca Raton, Florida, has disclosed an industry-leading trend: the use of cryptocurrencies for approximately one-third of its flight bookings. This adoption reflects a significant move towards digital payment methods in the luxury travel sector. Since the beginning of 2021, Bitlux has completed almost 1,000 occupied flights and...

Russian miner debuts digital tokens for diversified metals basket
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Russian miner debuts digital tokens for diversified metals basket

Russia’s nickel and palladium miner Nornickel, through its digital arm GPF Investments, has launched a new type of digital financial asset (DFA) on the Atomyze blockchain platform. This financial product encompasses a diverse basket of metals, including gold, palladium, platinum, copper, and nickel, the miner said in its press release. Based in the resource-rich Arctic...

Ethiopia Becomes a New Frontier for Chinese Bitcoin Miners
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Ethiopia Becomes a New Frontier for Chinese Bitcoin Miners

Ethiopia is emerging as a new haven for Chinese Bitcoin miners, drawn by the nation’s affordable power and strengthened ties with China. The arrival of mining operations near the Grand Ethiopian Renaissance Dam, Africa’s largest, signals a significant shift as miners seek favorable environments following stringent regulations elsewhere. Chinese Bitcoin miners have set their sights...

Twitter Taps eToro to Let Users Trade in Stocks, Crypto
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Twitter Taps eToro to Let Users Trade in Stocks, Crypto

Trading and investing platform eToro said on Thursday it has partnered with Elon Musk-led Twitter to let users access real-time prices of cryptocurrencies, stocks and other assets, and to enable the trading of those instruments. The trading data will be available through Twitter’s Cashtags feature, which was launched in 2012 and allows users to interact...

Germany’s New Regulation Paves Way for Tokenized Digital Shares
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Germany’s New Regulation Paves Way for Tokenized Digital Shares

Germany continues its crypto-friendly stance by introducing a new law allowing companies to issue crypto shares. The German Ministry of Finance said it was working on the Future Financing Act, a law “intended to support private asset accumulation and mobilize more private capital for future investments .” Other key improvements include the reduction of minimum...