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The Central Bank of Russia plans to use cryptocurrency for cross-border payments in trials with private companies, a member of its top management has revealed. The testing will be conducted under a special legal regime that’s currently under development. Russia’s Central Bank to Explore Crypto Settlements Amid Financial Sanctions The Central
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Coinbase, one of the largest cryptocurrency firms in the industry, has published a blog post that tells users to “switch to the trusted and reputable digital dollar,” referring to the stablecoin asset usd coin. The company’s blog post specifically mentions switching the stablecoin asset tether over to usd coin, and
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The Venus Initiative "shows how digital assets can be issued, distributed and settled within the eurozone, in a single day" and "confirms that a well-designed CBDC can play a critical role in the development of a safe tokenised financial asset space in Europe," Nathalie Aufauvre, general director of financial stability
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Ethereum started another decline below the $1,180 support against the US Dollar. ETH is down over 8% and there is a risk of a move towards the $1,000 support. Ethereum started a major decline below the $1,180 and $1,170 support levels. The price is now trading below $1,150 and the 100 hourly
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Nine major financial institutions and the Federal Reserve Bank of New York have started to experiment with a digital dollar proof of concept to see if distributed ledger technology can improve settlement between central banks, commercial banks, and regulated non-banks. The New York Fed details that the proof of concept
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The 12-week proof-of-concept pilot program will explore the use of a platform known as the regulated liability network, or RLN, whereby banks issue tokens that represent customers' deposits that are settled on a central bank reserve on a shared distributed ledger. Original Source
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Bitcoin price failed to clear $18,000 and started a fresh decline. BTC is showing bearish signs and it might soon decline towards the $15,000 level. Bitcoin started a fresh decline from the $18,000 and $18,150 resistance levels. The price is trading below $18,000 and the 100 hourly simple moving average. There is a
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According to a new announcement on Wednesday, the Bank of International Settlement, or BIS, along with the central banks of France, Singapore, and Switzerland, will be embarking on a new initiative dubbed "Project Mariana" in its exploration of blockchain technology. Project Mariana intends to use decentralized finance, or DeFi, protocols
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Project Mariana, coordinated by the Innovation Hub of the Bank for International Settlements (BIS), is looking at whether protocols used in intermediary-free decentralized finance (DeFi) can replace traditional, more laborious processes for matching buyers and sellers of different fiat currencies. Source
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Japan Credit Bureau (JCB), a Japanese analog to international payments systems like Visa or Mastercard, announced the start of its central bank digital currency (CBDC) infrastructure testing. The project will assumably prepare the payments platform for a national CBDC, which is currently being tested by the Bank of Japan (BoJ). The infrastructure
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