Blockchain & crypto news from India
Brazil’s Central Bank will launch the country’s CBDC in 2024. Currently the digital Real currency is in the testing phase. The Digital Real is an innovative way to introduce a national virtual currency by simply tokenizing bank deposits. The IMF too has praised this concept. Tokenizing bank deposits is an easy way to introduce digital…
Other than for scams and frauds, cryptocurrency has its uses in the world of charity too. Crypto payments are fast – millions can be transferred from one part of the world to another without too many people in the know. Setting an account is easy, and there are no intermediaries. The usefulness of digital currencies…
While the Western world is in no hurry with the CBDC, two more countries have announced their upcoming CBDC pilots. Japan has been experimenting with the CBDC technology for some time, and will now launch a pilot CBDC in April 2023. The testing phase was done by PoCs, and the pilot will further test the…
The Central Bank of the UAE (CUAE) has announced a transformation program for the emirate’s financial sector, and its nine initiatives include a CBDC. In order to make UAE a “financial and digital payment hub”, the CUAE has launched the Financial Infrastructure Transformation Programme (FIT). The wider aim is to push the CUAE among the…
Though far from official and not likely to be used, “Britcoin” is trending as the name of the digital pound, whose initial plan has been released by the Bank of England and the Treasury. The digital pound will be the CBDC of Britain, and is not likely to see the light of day until a…
One can live entirely on Bitcoin and Tether in the City of Lugano located in the southern-most part of Switzerland. The news was shared by Lugano Plan ₿, which is a a joint initiative between the City of Lugano and Tether, and will be holding a forum this year in October, to be organized by…
Italy, among the top ten crypto friendly countries, has levied a capital gains tax (with loss set off) on gains above Euros 2,000 (a little above $2,000). The tax is applicable for trading of virtual assets, defined as electronic value operating on distributed ledger or similar technology. Before this, Italy defined cryptocurrencies as virtual currencies…
Turkey’s central bank has reported carrying out the first payment transaction on their Digital Lira network, their CBDC in pilot phase. In the subsequent stages, the network looks forward to the participation of banks and fintech firms for closed-circuit testing. A press release from the organization said: “Against this backdrop, the CBRT will continue to…
Crypto exchange Huobi has release its 2022-23 market report, “Global Crypto Industry Overview and Trends”. Two major highlights of the report are Asia dominating in terms of crypto user base, and the popularity of NFT on search engines. Major highlights & stats of crypto industry in 2022 The total number of “crypto users” globally are…
A BBC report recently highlighted the stalled state of Akon’s dream – a $6 billion worth Bitcoin city in his native country of Senegal. Though even a single stone is yet to be placed, Akon still believes in the project and has come out with more promises and plans. He has however re-assured that those…