The Central Bank of Brazil (BCB) is anticipating a significant migration towards digital payments. This is the opinion of BCB director João Manoel Pinho de Mello who recently spoke about the growing momentum of digital payments and currencies, including the potential to issue a digital real based on the country’s national currency. Mello believes the […]

Kentucky Department of Financial Institutions has ordered BlockFi to stop accepting new sign-ups for its new interest accounts. This makes Kentucky the fifth state to have ordered the company to comply with a similar measure in the past few weeks. Kentucky follows others such as New Jersey, Alabama, Vermont and most recently Texas which all […]

The People’s Bank of China (PBoC) has issued a statement informing the public that it will not release pressure on “virtual currency trading hype”. The statement follows publication of the central bank’s goals for the second half of the year on Friday. PBoC explained that it had already made significant progress against illegal activities pertaining […]

Republican congressman Ted Budd has outed fellow legislators as being overly cautious of blockchain and cryptocurrencies, with some going as far as to regard the technology a “financial 9/11”, according to Budd. Speaking at the Maker Speaker Series, the member of the House Financial Services Committee and the Congressional Blockchain Caucus, said fear was mounting […]

More than a month after China cracked down on Bitcoin and crypto mining at home, the global network seems to be recovering with hash rate going up once again. Based on analytics company YCharts data, Bitcoin has reached 115.71 EH/s as of July 27. While the hash rate did drop to 106.7 EH/s on July […]

PayPal has announced it is preparing to launch a crypto app that will offer consumers numerous features designed to appeal to digital currency users. During the company’s Q2 2021 earnings call, CEO Dan Schulman said that the app’s code has been completed and that it would release in the US in coming months. Schulman provided […]

Bank of America (BoA) has become the latest financial institution to express confidence in digital currencies, and specifically central bank digital currencies (CBDCs). In a research note published on Wednesday, BoA called CBDCs a “much more effective payment system than cash”. There is no immediate threat to cash from CBDCs, but the bank is confident […]

The US Department of Justice’s (DoJ) Marshals Service has awarded a $6.6m contract to crypto custody firm Anchorage for storing seized digital assets. In a statement shared by Anchorage this week, the company said the US Marshal Service has seized significant amounts of digital assets in recent years, creating the need for reliable storage. In […]

The world’s largest crypto exchange Binance is improving its AML and KYC practices in a bid to meet the regulatory and legal demands of all its markets. Moving forward, Binance will be introducing a withdrawal limit on transactions to the tune of 0.06 Bitcoin daily or around $2,000 at current rates for unverified accounts. Once […]

Crypto and stock trading firm Robinhood is eying ways to remove volatility from the crypto equation or, at least, help consumers make better choices about cryptocurrencies. According to Bloomberg earlier this week, the Robinhood is trying to shield consumers from volatility by introducing a special mechanism that “overrides” or modifies certain crypto transactions by factoring […]