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US Government in Talks to Rescue Struggling First Republic Bank, Sources Say

April 28, 2023 by admin Leave a Comment

Sources have revealed that U.S. government officials are in talks to rescue First Republic Bank, a struggling financial institution. The discussions involve the U.S. Treasury, the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve, according to reports on Friday. Private-Sector Deal Preferred as U.S. Government Officials Discuss First Republic Bank Rescue … [Read more...]

US Government Plans to Sell Over 41,000 Bitcoins Confiscated from Silk Road Hacker

April 1, 2023 by admin Leave a Comment

According to a court document filed on March 31, 2023, regarding the sentencing of James Zhong, who stole over 50,000 bitcoin from the Silk Road marketplace, the U.S. government plans to liquidate 41,490 bitcoin “over the course of this calendar year.” U.S. Government Discloses Strategy for Selling Confiscated Bitcoin The U.S. government, one of the largest holders of … [Read more...]

UBS Considers Acquiring Credit Suisse, Requests Government Backstop in Deal

March 18, 2023 by admin Leave a Comment

After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to protect against any losses if it purchases Credit Suisse. According to unnamed sources familiar with the matter, UBS, which is the … [Read more...]

Zambia Testing Technology to Regulate Cryptocurrency — Government Minister

February 19, 2023 by admin Leave a Comment

The Bank of Zambia and the country’s securities regulators are currently testing the technology to regulate cryptocurrencies, a Zambian government minister has said. According to Felix Mutati, cryptocurrency is a revolutionary technology that embodies a future his country desires to achieve. Achieving an Inclusive Digital Economy The Zambian central bank and the country’s … [Read more...]

Rwanda Government Orders Banks to Stop Facilitating Crypto-Related Transactions

February 14, 2023 by admin Leave a Comment

According to the National Bank of Rwanda, the country’s regulated financial services providers are now prohibited from facilitating crypto-related transactions. In her Jan. 31 letter justifying the decision, the acting governor Soraya Hakuziyaremye cites the unregulated status of most crypto assets and how this leaves users without the “guarantees and safeguards associated with … [Read more...]

Chinese Government Launching National Blockchain Innovation Center

February 11, 2023 by admin Leave a Comment

The Chinese government is setting up a national blockchain innovation center in Beijing to focus on industrial applications and major use cases of blockchain technology, particularly those related to the Chinese economy. China Establishing New Blockchain Center China’s Ministry of Science and Technology has approved the establishment of a blockchain research center called the … [Read more...]

Chinese Economist Urges Government to Reconsider Crypto Ban — Warns of Missed Tech Opportunities

February 2, 2023 by admin Leave a Comment

An economics professor and former adviser to the People’s Bank of China has urged the Chinese government to reconsider its ban on cryptocurrencies. He warned that banning crypto activities could result in missed opportunities that are “very valuable” to regulated financial systems. Chinese Economist Warns of Missed Opportunities Due to Crypto Ban A former adviser to the Chinese … [Read more...]

Korean Government to Adopt Cryptocurrency Tracking System Within 5 Months

January 31, 2023 by admin Leave a Comment

The South Korean government will adopt a cryptocurrency tracking system within the first half of this year, the country’s Ministry of Justice reportedly announced. The tracking system will be used to monitor and analyze crypto transactions, particularly to uncover the sources of illegal funds. South Korea to Start Tracking Crypto Transactions in 1H South Korea’s Ministry of … [Read more...]

Chinese Government Releases VR Research Plan Including Metaverse and Odor Simulation

November 4, 2022 by admin Leave a Comment

The Chinese government has presented a plan of action regarding the inclusion of virtual reality (VR) and augmented reality (AR) in the lives of the Chinese people. The plan contemplates research of several technologies, including the development of an open metaverse platform for its citizens and research on odor simulation technology. Chinese Government Includes Odor … [Read more...]

Iranian Government Approves ‘Comprehensive and Detailed’ Crypto Regulations

September 1, 2022 by admin Leave a Comment

The government of Iran has finalized a set of cryptocurrency regulations. A “comprehensive and detailed” law ratified by the administration provides a regulatory framework for cryptocurrency, including their authorized usage and crypto mining, a government official reportedly said. Iran Finalizes Crypto Regulations The Iranian government has evaluated all issues relating to … [Read more...]

Iranian Association Calls for Stable Crypto Regulation as Government Plans Widespread Use of Crypto in Foreign Trade

August 23, 2022 by admin Leave a Comment

Iran’s association of importers has stressed the need for a stable regulatory framework for cryptocurrencies now that the Iranian government is officially using crypto to pay for imports. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries,” a government official said. Imports Association: Iran … [Read more...]

US Government Bans Ethereum Mixer Tornado Cash, Platform Added to OFAC’s SDN List

August 8, 2022 by admin Leave a Comment

Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive … [Read more...]

Argentinian Government Excludes Crypto Investors From Buying Dollars

July 24, 2022 by admin Leave a Comment

The Argentinian Central Bank has issued a new set of restrictions that are affecting citizens and companies that have purchased cryptocurrency to use it as a hedge against currency devaluation. The bank will only sell dollars at an official rate to individuals and companies that have not purchased crypto for at least 90 days prior to the operation, with the objective of curbing … [Read more...]

White House Reporter Says Inflation Has Become ‘Biden’s Political Nightmare’ as Critics Slam Government Spending

July 17, 2022 by admin Leave a Comment

While the latest Bureau of Labor Statistics Consumer Price Index (CPI) report indicates U.S. inflation has continued to print perpetual new highs, U.S. president Joe Biden is losing ground on his climate bill. The Biden administration’s recent budget negotiations and tactics toward dealing with inflation have been criticized by West Virginia’s senator Joe Manchin who thinks … [Read more...]

Dubai Is Preparing to Take Its Government to the Metaverse

July 4, 2022 by admin Leave a Comment

The Government of Dubai is preparing to make part of its offices available in the metaverse, according to reports. The country is currently seeking third parties to help it arrange the transition of some of its departments to the virtual world, per statements made at a metaverse event by Sharad Agarwal, chief metaverse officer of Cybergear. Dubai Reportedly Taking Government … [Read more...]

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