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PayPal CEO calls on crypto industry to work hand in hand with regulators
There is no other way for the cryptocurrency industry to thrive without working hand in hand with regulators, PayPal CEO Dan Schulman believes. On Wednesday, Schulman joined the Web Summit online conference to discuss the cashless era of the global financial industry with Squawk Box host Andrew Ross Sorkin.
Russian central bank opposes ruble-pegged stablecoins
Senior officials at the Bank of Russia have come out against the issuance of private stablecoins pegged to the Russian ruble. Sergei Shvetsov, a first deputy governor of the Russian central bank, said that the bank aims to ban private firms from offering stablecoins backed by the country’s fiat currency.
Bitcoin theft is likely to surge in meager post-COVID economy: report
Cryptocurrency-related fraud and theft are likely to grow in the post-COVID-19 world, according to a new report by cybersecurity and anti-virus provider, Kaspersky Lab. Securelist, Kaspersky’s cyberthreat research arm, published a report on cyberthreats to financial organizations, forecasting some specific types of financial attacks that are likely to surge in 2021. Securelist has predicted that a wave of poverty fueled by the COVID-19 pandemic will inevitably lead to “more people resorting to crime including cybercrime.” That could also mean a rise in crimes related to Bitcoin (BTC).
European central bankers predict that the digital euro is at least five years away
Several experts from various European banks agreed that even a proof of concept for a digital euro is four or five years away. In a panel on Monday called "Upgrading Money to the Digital Age: Introducing Digital Euro," participants agreed that the current task was primarily one of getting everyone onboard with the specifics of a digital euro, putting any real implementation well into the future.
BitCar announces airdrop programme
November 25, 2020 – BitCar is a project which was the world’s first platform that allowed for fractional ownership in collectible exotic cars such as a Ferrari 599 GTO and issued ERC-20 BitCar tokens a few years ago. Since its inception, the project has achieved complex and difficult milestones, however, due to numerous reasons including insufficient funds and demand for the car linked BitCar tokens, the company announced that it would discontinue the project.
China’s national blockchain project adds Polkadot support
Chinese government-backed blockchain initiative, the Blockchain Service Network, or BSN, is introducing support for another batch of major blockchain protocols. On Nov. 26, it announced that it will integrate Polkadot, Oasis and Bityaun into its ecosystem on Nov. 30. Polkadot's blockchain protocol is designed to connect multiple specialized blockchains into one unified network. Polkadot also enables processing of numerous transactions on several chains in parallel, bringing another level to its network capacity. Oasis specializes in private and scalable decentralized finance tools, while Bityuan is a blockchain solutions provider to Chinese companies.
RSK-based DeFi protocol launches innovative decentralized exchange concept
DeFi protocol Money on Chain, a lending platform and stablecoin issuer based on Bitcoin (BTC) sidechain RSK, announced Wednesday the launch of TEX, an automated token swap platform based on an order book — with a unique twist. Instead of being available instantaneously, orders are processed in batches according to a slightly variable interval of a few minutes. Each execution, called a tick, matches the orders submitted to the blockchain.
US intelligence is looking at Chinese CBDC as a national security threat
The United States national security apparatus is warning other agencies about China’s upcoming digital currency. On Wednesday, news outlet the Washington Examiner reported on a letter that National Intelligence Director John Ratcliffe had sent Securities and Exchange Commission Chairman Jay Clayton earlier in the month.
DeFi protocol 1inch set to be the first to expand to the NEAR blockchain
The Mooniswap decentralized exchange protocol, developed by DEX aggregator 1inch, will be the first Ethereum DeFi protocol to develop on NEAR, a sharded smart contract platform. As part of a collaboration announced on Tuesday, the 1inch team pledged to port its automated market maker protocol to NEAR. Sergej Kunz, CEO of 1inch, told Cointelegraph that its Pathfinder aggregation algorithm will be eventually implemented as well.
Bitcoin price has now only been higher one day in history
Bitcoin (BTC) is currently having its second-highest trading day ever as BTC/USD is hitting a new multiyear high of $19,330. Data from Cointelegraph Markets and TradingView provides a cause for celebration on Nov. 24 after Bitcoin suddenly tackled $19,000 resistance.