Cryptocurrency exchange Bitget has relaunched its application in the United Kingdom after temporarily restricting access to comply with local financial regulations. On November 12, Bitget confirmed that it had reactivated its UK website, now fully compliant with the Financial Promotions regime, the exchange told Cointelegraph. The relaunch comes a few months after Bitget had restricted...
Gibraltar-based Xapo Bank has entered the UK market after successfully securing a local banking license, becoming the first bank in the country to offer interest-bearing Bitcoin and United States dollar accounts. This new service allows users to hold Bitcoin and earn a 1% yield without needing to stake, lend, or lock up their assets. Xapo...
The Qatar Central Bank (QCB) has provided a comprehensive explanation of its Central Bank Digital Currency (CBDC) project on its website. The project, set to commence before the end of 2024, will initially focus on a wholesale CBDC (wCBDC) utilizing Artificial Intelligence (AI) and will involve simulations rather than real Qatari Riyals. The QCB’s project...
The Philippines government has announced that it will now accept USDT for Social Security System (SSS) contributions. Tether, the issuer of USDT, revealed a new crypto payment solution that enables residents to make SSS payments using the stablecoin. The Open Network (TON) blockchain will facilitate these transactions, promoting the integration of digital currency into the...
The German and US governments have moved significant amounts of Bitcoin and Ethereum, indicating a potential continuation of their crypto-selling activities. Data from Arkham Intelligence reveals these large transfers, which could affect the market dynamics this month. In the last two weeks, German government-associated addresses have transferred over 2,700 BTC, valued at more than $200...
Starting July 19, a new Korean law will mandate that companies issuing certain types of NFTs register as virtual asset operators. This requirement is part of the Korean Virtual Asset User Protection Act, which aims to regulate NFTs that feature large-scale issuance, divisibility, or use as a means of payment. The Financial Services Commission (FSC)...
Cambodia’s Central Bank Governor, Chea Serey, highlighted the role of Bakong, the Cambodian Central Bank Digital Currency (CBDC), in promoting cross-border QR payments and increasing the use of the Cambodian Riel (KHR). Speaking at the Nikkei’s Future of Asia event in Tokyo, Serey emphasized that Cambodia’s currency system, dominated by the U.S. dollar, aims to...
Tokenization, the process of transforming real-world assets into blockchain-based tokens, has the potential to unlock a market worth approximately $5 trillion within the next five years, according to a new report by Bernstein. The report, released on Tuesday, highlights that this significant growth could be led by stablecoins, central bank digital currencies (CBDCs), securities, private...
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...
The German state-owned bank, Kreditanstalt für Wiederaufbau (KfW), has announced its plans to issue its first blockchain-based digital bonds by summer 2024. These bonds will be managed using blockchain technology to ensure secure and transparent transactions and are classified as crypto securities under the German Electronic Securities Act (eWpG). KfW has partnered with major financial...
