Crypto change CrossTower enters India despite uncertainty

In a significant development U.S.-headquartered digital currency exchange CrossTower has set up a local unit in India and has launched a trading platform to increase its traction in the burgeoning domestic crypto market. The development comes at a time when the fate of cryptocurrency is still unclear in India. CrossTower India has hired 35 people…

Bank of Japan kicks off feasibility study on issuing its own digital currency

In a significant development sees cryptocurrencies increasingly gaining traction, on Monday the Bank of Japan (BOJ) has started feasibility study of issuing its own digital currency, joining efforts by other central banks that are aiming to match the innovation in the field achieved by the private sector. In a statement the BOJ said, during the…

Bitcoins surges past $30,000 as large investors bet on currency joining mainstream

In a significant development, Bitcoin extended its bull run smashing its previous record and surging over $30,000 for the very first time; investors and traders are betting that the digital currency is on its way to becoming a mainstream payment method. On Saturday, Bitcoin, the world’s most popular cryptocurrency traded as high as $33,099 with…

Singapore state investor Temasek Holdings joins Facebook-backed Libra digital currency project

Despite facing intense scrutiny from global regulators, Facebook’s Libra project saw Singapore state investor Temasek Holdings joining the cryptocurrency project. Financial regulators are worried that the Libra project when launched could erode national control over money. Late on Thursday, Switzerland-based Libra Association, which manages the Facebook-backed digital currency project, announced Temasek entry into the project.…

Vodafone Group PLC exits Facebook’s Libra crypto currency project

In a statement, Facebook’s Libra Association said, Britain’s Vodafone Group PLC has left its global digital currency initiative. In recent months, Facebook’s digital currency has seen an exodus of its backers midst increased regulatory scrutiny, including financial companies such as Mastercard Inc and Paypal Holdings Inc. In June 2019, Facebook had announced a plan to…

China to pass cryptography law in preparation for launching digital currency

China is treating blockchain technology as a foundational building block for future science and technology innovations. Late on Saturday, in a development that marks China gearing up to launch its own digital currency, the country’s rubber stamp parliament passed a new law on cryptography, reported state media late on Saturday. In 2014, China’s central bank…