Kakao Subsidiary Wins Bid To Test South Korea’s CBDC
The Central Bank of South Korea has partnered with Ground X, a blockchain subsidiary of Kakao, to help with its digital fiat efforts. Kakao is one of the leading internet providers in South Korea. Ground X will supply the leading technology
Gemini Plans To Outperform Binance In Compliance
Gemini - Buy Bitcoin in U.S. Binance, the largest crypto exchange, has been facing strict regulatory scrutiny around the world. Among this heightened regulatory pressure included Ontario where they were forced to close up shop. One of the exchanges that want to
Cryptocurrency Bill Proposed in Paraguay
Paraguay has joined El Salvador in implementing a Bitcoin law that will govern crypto use. The bill is being led by Congressman Carlos Rejala and Senator Fernando Silva Facetti. However, the new law will be different from what was passed
PayPal Increases Cryptocurrency Buy Limit
https://twitter.com/PayPal/status/1415748537078386689 Leading global payments giant PayPal is changing its terms to accommodate more crypto users to the platform. The payments firm has increased the weekly buy limit for cryptocurrencies to $100,000. The new limit is five times more than the $20,000 limit
World Bank & IMF Back CBDC Development
The World Bank and the International Monetary Fund (IMF) have come together to discuss the benefits realized from adopting central bank digital currencies (CBDCs). The two financial institutions discussed CBDC adoption during the G20 summit. The joint report was also backed
Bank of America Plans For Growing Interest In Crypto
Bank of America is putting together a team that will research cryptocurrencies. As one of the largest banks in the US, this move will increase the rate at which Wall Street firms are unveiling crypto services to meet the growing
China Orders Closure of Software Company For Crypto Trading
China’s Central Bank has ordered the closure of a software company based in Beijing for allegedly involving itself with crypto trading. The recent announcement seeks to enforce the crypto restrictions imposed in the country. Authorities in the country ordered the immediate
RippleX Partners With Mintable For NFT Marketplace
Ripple started out the month of July with a huge announcement about a strategic partnership with Mintable. Mintable is an NFT marketplace where users can develop, purchase and trade digital collectables using fiat currencies or digital assets. This partnership will enable
Mexico Central Bank Issues Warning To Lenders Offering Crypto Services
The Mexican Central Bank has stated that financial institutions should not offer crypto assets. Financial authorities have also issued a warning to firms offering cryptocurrency services stating they will be prone to sanctions. A joint statement on the matter was tabled
Binance Ends Services In Ontario
BinanceUS - Buy Bitcoin in U.S. Binance, the largest crypto exchange by volume, has announced it will be halting its offerings in Ontario. In a statement provided on the Binance website, the exchange stated that “As part of our continuing compliance efforts,