digital currency
Residents of 3 Chinese cities paying taxes and charges with digital yuan
Residents in three major Chinese cities have begun paying tax, stamp duty and social security premiums using the country’s central bank digital currency — the digital yuan (e-CNY). According to a domestic news report, a number of government agencies in the Zhejiang province — located just south of Shanghai — are currently running real world trials programs that involve citizens using the digital yuan to pay taxes. The Zhejiang Taxation Bureau is working with the country’s central bank — the People’s Bank of China (PBoC) — to explore a variety of taxation payment methods using the digital yuan. The PBoC and affiliated local government agencies are reportedly looking to the next major test for the digital yuan, the Asian Games which will take place in Hangzhou in September. Local autho...
Cointelegraph’s experts reveal their crypto portfolios | Watch now on The Market Report
On this week’s show, Cointelegraph’s resident experts reveal exactly what percentages of their portfolios are allocated to what coins and why. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as they reveal their crypto portfolios. We kick things off with Bourgi, whose top holdings are BTC with 67%, ETH with 20%. No surprise there but what about the rest? It’s an interesting mix, to say the least so make sure you stick around to find out. Next, we have Yuan, whose top three holdings are 35% BTC, 28% Terra...
Luno Secures 10-Million Customers in over 40 Countries
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What are the worst crypto mistakes to avoid in 2022? | Find out now on The Market Report
“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss the worst mistakes you should avoid making in crypto. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as they talk about the worst crypto mistakes to avoid making in 2022. First up, we have Bourgi, who thinks investors should avoid “analysis paralysis.” In other words, don’t overanalyze. Make decisions based on firm conviction. Don’t just look at the price of a coin or token you’re interested...
Finding the Business Case for Blockchain
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Meta Rumoured to be Working on New Virtual Currency: ‘Zuck Bucks’
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European Commission opens new consultation on digital euro
The European Commission is calling for financial services specialists to weigh in on the potential rollout of a digital euro. In a Tuesday notice, the European Commission’s Directorate‑General for Financial Stability, Financial Services and Capital Markets Union said it would be preparing an assessment of the central bank digital currency based on the expected impact on financial service providers, retail users, and chambers of commerce. The commission will consult with industry specialists on issues concerning the digital euro including international payments, privacy, the impact on the financial sector and financial stability, use cases alongside cash payments, and anti-money laundering and combating the financing of terrorism rules. “For a digital euro to be used as the single currency,...
More than three-quarters of central banks considering a CBDC: research
More than 80% of central banks are interested in launching a Central Bank Digital Currency (CBDC) or have already done so according to research conducted by accounting firm PwC. The second annual Global CBDC Index report released on Monday, April 4, measures a central bank’s level of maturity in deploying its own digital currency. The report also included an overview of stablecoins for the first time. Haydn Jones, Blockchain and Crypto Specialist at PwC U.K. stated in the report that “over 80% of central banks are considering launching a CBDC or have already done so.” The report ranks both retail CBDCs, ones that are issued for use by the general public, and wholesale CBDCs for use by financial institutions holding with the central bank, out of 100. Retail CBDCs have reached a greate...
Ted Cruz introduces companion to Emmer’s bill to exclude Fed retail CBDC digital currency issue
Texas Sen. Ted Cruz introduced companion legislation into the U.S. Senate on Wednesday for Minnesota Rep. Tom Emmer’s bill prohibiting the Federal Reserve from issuing central bank digital currency, or CBDC, directly to individuals, Emmer announced. Emmer introduced the House bill Jan. 18. Fellow Republican Cruz’ legislation could potentially speed up passage or rejection of the bill by allowing it to be considered in both chambers of Congress at the same time. Emmer, co-chair of the Congressional Blockchain Caucus, motivated his bill by concern a retail CBDC that forced consumers to open accounts with the Federal Reserve Bank could “be used as a surveillance tool that Americans should never tolerate from their own government,” according to the lawmaker. Emmer said in January, “Requi...
White House office seeks public opinion on crypto-climate implications
The Office of Science and Technology Policy (OSTP), an Executive Office of the President of the United States, commenced a study to identify the scope for offsetting energy use and climate changes related to digital assets. On March 9, United States President Joe Biden signed an executive order, directing various federal agencies to examine implications of digital assets on six key areas — consumer and investor protection, financial stability, financial inclusion, responsible innovation, the United States’ global financial leadership and combating illicit financial activity. As a part of the initiative, the OSTP invited the general public and other stakeholders to share their viewpoints on various factors that contribute to the energy use and climate impacts of all types of digital a...
How blockchain intelligence can prevent Russia from evading sanctions
As pointed out by Caroline Malcolm, head of international policy at Chainalysis, the transparent nature of blockchain technology makes it relatively easy for crypto intelligence companies to track funds related to sanctioned entities. “We’re in quite a unique position because of the transparency and the permanency and the immutability of that public record,” explained Malcolm in an exclusive Cointelegraph interview. Governments around the world have expressed concerns that Russia could use crypto to evade sanctions imposed as a response to its military offensive against Ukraine. Addressing those concerns, Malcolm pointed out that in the last few years there has been substantial improvement in the crypto industry’s Anti-Money Laundering and counter-terrorism framewor...
Valkyrie Investments‘ Leah Wald on Bitcoin ETFs and the future of digital assets
Cointelegraph sat down with Leah Wald, CEO of digital asset investment firm Valkyrie Investments, to learn more about the importance of a Bitcoin (BTC) exchange-traded fund (ETF) and the future of digital assets. For context, Valkyrie Investments was launched in 2020 and is one of the only asset managers to have three Bitcoin-adjacent ETFs trading on the Nasdaq. Valkyrie launched a Bitcoin Strategy ETF in October 2021 that offered indirect exposure to BTC with cash-settled futures contracts following a United States Securities and Exchange (SEC) approval for a similar ETF from ProShares. Valkyrie also has a balance sheet opportunities ETF that invests in public companies with exposure to Bitcoin. In addition, the investment firm’s Bitcoin Miners ETF began trading on the Nasdaq o...
