Financial Assets

Bank of England Unveils Plans for a Digital Securities Trading Sandbox
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Bank of England Unveils Plans for a Digital Securities Trading Sandbox

In a forward-looking move to embrace technological advancements in the financial sector, the Bank of England, alongside the Financial Conduct Authority, has initiated a public consultation for a pioneering ‘digital sandbox.’ This initiative aims to facilitate the testing of digital securities trading in realistic market conditions while maintaining a controlled regulatory framework. Set against the...

Robert Kiyosaki Recommends Shifting from Dollars to Bitcoin Amid Financial Concerns
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Robert Kiyosaki Recommends Shifting from Dollars to Bitcoin Amid Financial Concerns

Renowned “Rich Dad Poor Dad” author and prominent Bitcoin advocate, Robert Kiyosaki, has recently advised traders to abandon the US dollar in favor of Bitcoin, gold, and silver. Highlighting concerns over the stability of traditional paper assets, Kiyosaki expressed his skepticism towards financial instruments susceptible to inflation through printing. This guidance comes amidst growing worries...

Historic Outflows from Bitcoin ETFs Amid Price Downturn
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Historic Outflows from Bitcoin ETFs Amid Price Downturn

On March 19, 2024, United States-based Bitcoin exchange-traded funds (ETFs) recorded their most significant outflow to date, as Bitcoin’s value plummeted, briefly touching $62,000. This mass withdrawal amounted to $326 million across ten funds, underscoring the escalating investor concern amidst the cryptocurrency’s price volatility. Grayscale’s Bitcoin Trust (GBTC), the largest of these ETFs, saw a...

Federal Reserve’s CBDC Discussions Intensify Amid Cryptocurrency Surge
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Federal Reserve’s CBDC Discussions Intensify Amid Cryptocurrency Surge

Recent leaks from a closed-door meeting have unveiled that discussions about a Central Bank Digital Currency (CBDC), often referred to as the digital dollar, are advancing within the Federal Reserve. This revelation comes at a time when the cryptocurrency market, particularly Bitcoin and Ethereum, is experiencing a significant upturn, drawing renewed attention and legitimacy from...

Hong Kong Eyes Yuan-Linked Stablecoins to Revitalize Financial Ecosystem
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Hong Kong Eyes Yuan-Linked Stablecoins to Revitalize Financial Ecosystem

The Hong Kong General Chamber of Commerce (HKGCC) has made a proposal to introduce Chinese yuan-linked stablecoins, aiming to invigorate the region’s financial system. This suggestion is part of a broader set of recommendations aimed at enhancing Hong Kong’s economic environment and tackling manpower shortages. The HKGCC’s proposal includes the potential issuance of stablecoins pegged...

Bitcoin Spearheads $53 Billion Surge in Global Digital Assets
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Bitcoin Spearheads $53 Billion Surge in Global Digital Assets

The digital asset market has undergone a remarkable transformation in the last two weeks, rebounding from a significant outflow to witness a substantial inflow, largely fueled by investments in Bitcoin (BTC). The market’s dynamics have shifted, with Bitcoin leading the charge and propelling the total value of global digital assets to reach $53 billion. In...

Hong Kong Investigates Worldcoin Over Data Privacy Concerns
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Hong Kong Investigates Worldcoin Over Data Privacy Concerns

The Office of the Privacy Commissioner for Personal Data (PCPD) in Hong Kong has initiated an investigation into Worldcoin, the identity verification project co-founded by Sam Altman of OpenAI fame. The probe was launched amid growing apprehensions regarding the handling of personal data by the project, particularly focusing on its iris-scanning technology used for identity...

Bank of Spain Partners with Adhara and Cecabank-Abanca Consortium for Wholesale CBDC Trials
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Bank of Spain Partners with Adhara and Cecabank-Abanca Consortium for Wholesale CBDC Trials

The Bank of Spain is taking a step in exploring the potential of a wholesale central bank digital currency (CBDC) by partnering with Adhara, a treasury and transactions payment platform, and a consortium formed by two private banks, Cecabank and Abanca. This initiative marks a distinct phase in the bank’s exploration of digital currency technology,...

Verified USD Foundation Introduces USDV, A New Stablecoin Backed by US Treasuries
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Verified USD Foundation Introduces USDV, A New Stablecoin Backed by US Treasuries

The Verified USD Foundation has launched a new stablecoin, Verified USD (USDV), which is distinctively backed by tokenized US Treasury Bills (T-bills). This development marks a significant step in the cryptocurrency space, offering a stablecoin that combines the security of T-bills with the efficiency of blockchain technology. USDV: A Blend of Stability and Innovation USDV...