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A district court in Beijing has rejected monetary compensation in a Bitcoin (BTC) mining contract plea against a blockchain company.The Chaoyang District People’s Court on Wednesday deemed the Bitcoin mining contract between the plaintiff and the blockchain firm “invalid,” the South China Morning Post reported on Dec. 16. The plaintiff
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Singapore, already a major financial center in the world, is now aiming to become a cryptocurrency hub as well. The city-state is seeking to secure its role as a leading player in the crypto space, the head of its central banking institution has indicated in recent comments. Singapore to Establish
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This article originally appeared in Valid Points, CoinDesk’s weekly newsletter breaking down Ethereum 2.0 and its sweeping impact on crypto markets. Subscribe to Valid Points here.Ethereum’s native asset was once discredited by bitcoiners and investors alike for its lack of hard monetary policy and ever-inflationary “tokenomics.” However, the combination of
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Cornell University’s professor of economics and former head of the IMF’s China division, Eswar Prasad, has warned that “Cryptocurrencies may contribute to monetary and financial instability.” He added that the risk is amplified if the industry is unregulated and lacks investor protection. Economist Sees Crypto Posing Risks to Financial Stability Eswar Prasad,
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Hong Kong’s Hong Kong Monetary Authority, its de facto central bank, has released a whitepaper on retail central bank digital currencies (CBDCs) while it continues to explore the potential of a digital Hong Kong dollar (e-HKD) for its domestic and cross-border markets.The white paper was published Monday by the Hong
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Singapore Monetary Authority has placed the Binance exchange on its alert list of investors on Wednesday. This is due to some concerns about the possibility that the crypto exchange might have violated the local payments laws. On Sunday, the global crypto exchange has announced its intention to cancel its product offering
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Three stories1. Tesla invested $1.5 billion of its cash reserves in bitcoin, according to a U.S. Securities and Exchange Commission annual report. The popular auto manufacturer said bitcoin offers “more flexibility to further diversify and maximize returns on our cash.” The company had more than $19 billion in cash and
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Crypto-custody provider and securities firm, Propine, has graduated from the Monetary Authority of Singapore’s fintech regulatory sandbox program, emerging with a Capital Markets Services License and the green light to commence full operations.The Singapore-based securities services firm for institutional clients was admitted entry to the MAS regulatory sandbox on Nov.
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During a Christmas rally that has pushed the Bitcoin all time high mark ever higher, a pair of recent tweets indicate that a former critic of the digital currency is continuing to take steps towards a full-blown hodler conversion: billionaire investor and owner of the Dallas Mavericks Mark Cuban. The Tweet
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The well-known economic historian connects the dots between bitcoin and CBDCs in the COVID-19 money era.In it, Ferguson argues that bitcoin’s sovereignty and “built-in scarcity in a virtual world characterized by boundless abundance” are driving its adoption. He also argues that rather than adopt a China-style central bank digital currency, incoming
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