The testing will “evaluate various technologies and their associated economic and regulatory conditions.” Norges Bank will also determine how the CBDC will help ensure the stability of the Norwegian krone and the financial system as a whole. The Norwegian Central Bank intends to determine whether the state cryptocurrency will ensure the safety, efficiency and attractiveness […]
Sarah
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
Singapore bank DBS will launch an environmental project in the metaverse
DBS, headquartered in Singapore, is partnering with gaming giant Sandbox to launch DBS Better World, a virtual metaverse. The joint project is positioned by DBC as “an interactive metaverse experience that demonstrates the importance of building a better and more sustainable virtual world by implementing Web3 to expand its base and help bank users.” The […]
Algorand Foundation threatens to return $35 million from crypto lender Hodlnaut through court
The Algorand Foundation has accused the Hodlnaut crypto lending platform, which is going through bankruptcy proceedings, of failing to pay short-term deposits. The Algorand Foundation has publicly announced that Singapore-based cryptocurrency platform Hodlnaut owes it $35 million in USD Coin (USDC) stablecoins. The company has said it intends to take legal action if the debt […]
Startup Bitmama Raises $2M to Expand Cryptocurrency Market in Africa
Nigerian blockchain startup Bitmama has raised money from venture capital firms investing in Africa to create solutions based on cryptocurrencies. The preliminary funding round closed at $2 million. A year ago, in the fall of 2021, $350,000 was raised, and this year another $1.65 million. Two Africa-focused venture capital companies, Unicorn Growth Capital and Launch […]
Florida consumer services regulator urges to refrain from payments in cryptocurrency
The Florida Department of Agriculture and Consumer Services (FDACS) urged state residents to be vigilant amid rising phone robot and crypto payment scams. The consumer watchdog posted a warning outlining the scenarios crypto scammers use to scam their victims. Criminals use special robots in telephone conversations with their victims with audio recordings of offers to […]
JPMorgan to Offer Services to Metaverse Users
Amid the rapid growth and development of Web3, one of the largest US banks hires a manager who promotes products in virtual reality and the crypto industry. JPMorgan posted on LinkedIn a job opening for a Payments Business Development Manager for merchant, banking, and treasury services “in Web3, Crypto, Fintech, and Metaverse.” The bank specifies […]
The American regulator will accelerate the consideration of applications for the launch of crypto projects
The US Securities and Exchange Commission (SEC), due to the growing number of applications for cryptocurrency projects, announced the creation of two departments focused on digital assets. The first division, the Department of Crypto Assets, will review applications for launching projects. Second, the Office of Industrial Applications and Services will focus on the relevant direction. […]
U.S. senators ask Meta for report on anti-crypto fraud measures
A group of six U.S. senators have expressed concern that Meta-owned social media has become a fertile medium for the spread of cryptocurrency scams. According to the Federal Trade Commission (FTC), in the first quarter of 2022 alone, about 49% of all reports of fraudulent cryptocurrency projects were posted on social networks owned by Meta. […]
SEC does not intend to change the rules for regulating the crypto market to please critics
SEC Enforcement Director Gurbir Grewal said that criticisms of the digital asset market regulation policy will not affect the agency’s principled position. According to Gurbir Grewal, the financial regulator will continue its comprehensive investigation and enforcement of crypto companies, despite criticism from the crypto community about “choosing winners and losers” or “stifling innovation.” Grewal stated […]
Indian Finance Minister Urges IMF to Lead Crypto Regulation in the Country
Indian Finance Minister Nirmala Sitharaman called on the International Monetary Fund (IMF) to take a “leading role” in regulating crypto assets in the country. Nirmala Sitharaman and International Monetary Fund (IMF) Executive Board Chair Kristalina Georgieva discussed the importance of a “globally coordinated and synchronized approach to regulating cryptoassets” at a meeting in New Delhi. […]
