Cryptocurrency Fraud Trial: Allegations of $82.2 Million Filecoin Pyramid Scheme
China's Pingnan District People's Court has begun public hearings in the trial of five people accused of setting up a fraudulent scheme to mine the cryptocurrency Filecoin. Prosecutors accused defendant Lai Mouhang and his accomplices of creating a 600 million yuan (about ...
Blockchain in Traditional Finance Could Save Industry Participants $120 Billion Annually, Study Finds
According to a study by the Global Financial Markets Association (GFMA), the use of blockchain in the traditional financial industry could save industry participants up to $120 billion a year. The report, which also involved specialists from Boston Consulting Group, asks ...
China Launches National Blockchain Innovation Center in Beijing
China's National Blockchain Innovation Center officially opened on Tuesday, May 10, in the capital Beijing. The Center will be run by the Beijing Blockchain Academy, which has announced its intention to accelerate the construction of "super-scale clusters of blockchain co ...
Central Bank of Brazil Calls for Testing of Digital Brazilian Real
The central bank of Brazil has invited financial institutions and other stakeholders to participate in the testing of the digital Brazilian real. Submissions for inclusion in the central bank's digital currency testing are open from May 2 to 12. The pilot program was o ...
Understanding Crypto-Assets: From Coins to Programmable Assets
In this article, our regular contributor Menaskop tries to address not the easiest questions, which are basic for many branches of cryptoeconomics. Even more accurately, for her future. The plan is as follows: Describe ...
Sweden Cancels Tax Breaks for Miners, Increases Electricity Tariff for Cryptocurrency Mining
The Government of Sweden recently announced its plans to cancel tax breaks for miners and significantly increase the electricity tariff for cryptocurrency mining by 58 times. The cost of electricity for mining will go from $0.0006 to $0.035 per kWh, and the benefits will be lifted starting in Jul ...
Chinese Ministry Plans to Update National Standards for Fintech and Blockchain
The Chinese Ministry of Industry and Information Technology (MIT) has announced plans to revise and update national technology standards for the fintech and blockchain industries. To accomplish this goal, the Ministry has initiated public consultations with stakeholders regarding its "Program for ...
Italian Banking Association Ready to Support Digital Euro Introduction
The ABI, or Italian Banking Association, has recently stated that it is fully prepared to support the digital euro's introduction, as long as it doesn't displace them from the banking system. As early as 2020, the Association of Italian Commercial Banks, which has over 700 members, has been backi ...