The Central Bank of Sri Lanka (CBSL) has issued a public warning against the use of or interaction with digital currencies or virtual currencies (VCs) as well as other entities within the space. As detailed in the official press release issued by the apex bank, digital currencies are currently being obtained “through mining, Initial Coin Offerings (ICOs) or through Virtual Currency Exchanges,” all of which the bank has not provided any license or support for.
Author: Godfrey Benjamin
Godfrey Benjamin
Godfrey contributed to Blockchain Journal between 2020 and 2021, covering cryptocurrency markets and blockchain-related developments with a focus on technical analysis and market structure. His reporting examined price behavior, network activity, and on-chain signals to provide contextual insight into market dynamics.
Chinese technology firm Meitu Inc has bolstered its Bitcoin (BTC) holdings as it recently invested another $10 million to acquire 175.67798279 units of Bitcoin. According to the official filing detailing the purchase, this latest investment puts Meitu’s total Bitcoin and Ethereum holdings at $100 million.
Jamie Dimon, the Chief Executive Officer of JPMorgan Chase & Co, one of America’s largest banking firms has tagged Fintech companies as the threats to financial institutions or banks across the globe.
The Citi Innovation Lab of American multinational financial institution Citigroup and Inter-American Development Bank has developed a Proof-of-Concept (PoC) to make cross-border payments from the United States to countries in Latin America and the Caribbean, using blockchain and tokenized money, that provides full traceability of the transactions, exchange rates, and fees.
Sveriges Riksbank, the Swedish Central Bank has published the results of the pilot test of its Central Bank Digital Currency (CBDC) also known as the e-Krona. The e-Krona pilot test according to the bank is based on the Decentralized Ledger Technology (DLT) built on R3’s Corda Blockchain. Per the findings of the pilot test, the Riksbank said there is a need for more investigations into the proposed digital currency.
Changpeng Zhao, the Chief Executive Officer of Binance cryptocurrency exchange has revealed that the company has no intention of filing for an Initial Public Offering (IPO) in a bid to go public.
Indian tech giant, Tech Mahindra is launching a Stablecoin-as-a-Service blockchain solution for global banks and financial institutions. The proposed infrastructure which seeks to leverage the uniqueness of Stablecoins for digital transaction and cash settlements will be done in partnership with Quantoz, a Netherlands-based innovative Blockchain technology application incubator.
Bitcoin critic, Peter Schiff has bemoaned the growing number of digital currencies that are permeating the space. Taking to his tweeter handle, the Chairman of the Euro Pacific Bank, noted that there are only 180 fiat currencies in the world but that the digital currency ecosystem already has more than 9,100 various cryptocurrencies, with clear indications that these number will grow.
It is a landmark day for the cryptocurrency ecosystem as the global crypto market capitalization crossed $2 trillion for the first time in history. According to Coingecko, a crypto data analytics platform, the total market cap at the time of writing is $2,016,138,550,907, up 2.5% in the past 24 hours.
The Bank of Japan (BoJ) has commenced the Proof-of-Concept (PoC) for its proposed Central Bank Digital Currency (CBDC) which will be the equivalent of a digital Yen. According to an official press release from the monetary authority, it has been undertaking a series of preparations in order to be ready to begin conducting experiments on the CBDC project this fiscal year, and it noted the Phase 1 of the PoC which starts today will run for one year, until March 2022.