Indonesia is in a race to shift oversight of the country’s digital asset sector from the trade ministry to the financial services watchdog as a new law takes effect. Indonesia adopted the amended Financial Sector Act in 2024, which will…
TLDR US national debt has reached $36 trillion by November 21, 2024 Trump appointed Elon Musk and Vivek Ramaswamy to lead the new Department of Government Efficiency (DOGE). Debt servicing costs are expected to exceed $1 trillion next year, surpassing…
It’s been over two years since then Reserve Bank of India (RBI) introduced India’s blockchain-based digital rupee. But even after two years of testing, India retail Central bank digital currency (CBDC) is struggling to find strong adoption in the country’s…
TLDR First Abu Dhabi Bank (FAB) partners with Libre Capital for blockchain-based loans with tokenized assets as collateral Libre has issued about $150 million in tokenized versions of major investment funds The pilot program allows approved lenders to use RWA…
India blockchain-based digital rupee is likely to see more cross-border transactions in 2025, while exploring programmable money use cases. Those Reserve Bank of India (RBI) may also integrate the e-rupee with existing digital payment systems to drive adoption. Recognition of…
El Salvador has reached a preliminary arrangement with the International Monetary Fund (IMF) on a $1.4 billion loan. Under the agreement, the Government must adopt some key measures to ensure that it can effectively use the funds to support its…
The Bank of Russia (BoR) shared its Central bank digital currency (CBDC) business model that includes free consumer-to-consumer payments. However, local banks are fighting back, accusing the government of planning to put them out of business. Two years ago, Russia’s…
The US Internal Revenue Service (IRS) has issued regulations requiring brokers to report digital asset transactions, while expanding the definition of broker to include platforms such as decentralized exchanges (DEXs). Several industry lobbying groups filed suit against the IRS and…
Ukraine has committed to preventing Russia’s use of digital assets for cross-border payments and sanctions, according to Vladyslav Vlasiuk, adviser to the president of Ukraine and commissioner for sanctions policy. On December 26, the Ukrainian government announced “sanctions and other…
Those People’s Bank of China (PBOC), the country’s central bank, highlighted global efforts to regulate digital assets in its annual financial stability report for 2024, while also noting that Hong Kong is “actively exploring” a digital asset licensing regime. Those…
