Public sector workers in an eastern Chinese city are set to be paid fully in digital yuan, as the country makes a significant push to popularize the currency. Changshu, located in the province of Jiangsu, will start the new payment process in May, according to an official document widely posted Read more…
The U.S. cryptocurrency exchange Coinbase is suing the Securities and Exchange Commission, seeking to force the commission to respond to a petition (PDF) requesting them to draft and approve a rule specific to digital assets. “The lawsuit aims to force the agency to provide a yes or no to Coinbase’s Read more…
In the U.S., at least three early candidates for president from both parties “want to make it clear they would not support any proposals for a central bank-backed digital US dollar,” reports Bloomberg — which may be a little premature, because “A central bank digital currency, or CBDC, is far Read more…
Canada’s $190bn Ontario Teachers’ Pension Plan says it is steering clear of the cryptocurrency sector after writing off a $95mn investment in FTX, the failed digital currency exchange. OTPP was among a number of big-name money managers to back FTX, with investments in 2021 and early 2022. The move was Read more…
Twitter will let its users access stocks, cryptocurrencies and other financial assets through a partnership with eToro, a social trading company. Starting Thursday, a new feature will be rolled out on the Twitter app. It will allow users to view market charts on an expanded range of financial instruments and Read more…
The US chip-maker Nvidia has said cryptocurrencies do not “bring anything useful for society” despite the company’s powerful processors selling in huge quantities to the sector. Michael Kagan, its chief technology officer, said other uses of processing power such as the artificial intelligence chatbot ChatGPT were more worthwhile than mining Read more…
Plans for a government backed non-fungible token (NFT) produced by the Royal Mint have been dropped, the Treasury has announced. Rishi Sunak ordered the creation of a “NFT for Britain” that could be traded online, while chancellor in April 2022. The Treasury announced it was “not proceeding with the launch” Read more…