China bans financial institutions from cryptocurrency related transactions

In a development that marks China’s latest attempt to clamp down on speculative trading of cryptocurrency, Beijing has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, warning investors against speculative crypto trading. Under the ban, institutions including banks and online payments channels are disallowed to offer clients any services involving…

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…

U.S. Federal Reserve looking at potentially issuing its own digital currency

In a statement, Governor Lael Brainard of the U.S. Federal Reserve stated, the central bank is looking at a broad range of issues surrounding digital currencies and payments, including design, policy and legal considerations around potentially issuing its own digital currency. The development underscores an openness in the possibility of the Federal Reserve issuing its…

Huawei and ZTE being methodically sliced from U.S. telecommunication networks

A group of 15 U.S. senators from both the Republican and the Democratic party have written a letter to the U.S. Commerce Department urging it to suspend issuing licenses to U.S. firms that conduct business with China’s Huawei Technologies Co, citing threats to U.S. national security. The letter also urges the Trump, administration to halt…