Nigeria had earlier postponed its plan to launch the country’s digital fiat currency, eNaira. However, the Federal High Court gave it the green light for the launch of the digital currency. The Central Bank of Nigeria received a cease and desist notice over the use of the name “eNaira” after a couple of days fromContinue reading “Nigeria: eNaira receives go-ahead from court amid ongoing litigation “

Ripple received its first instalment of 1 billion in the last quarter of 2021 and something interesting happened after it. Whale Alert highlighted three transactions in which a total of 1 billion XRP was released from the Ripple Escrow Wallet almost 18-hours back from the time of reporting. Ripple was swift to move 100 millionContinue reading “Ripple decides to add liquidity to ODL corridors through Escrow XRP release”

Grayscale Investments has added two new assets to its large-cap crypto fund for the first time on Friday. The addition of rapidly growing Solana [SOL] and prominent decentralized finance token Uniswap [UNI] was part of a quarterly rebalancing, as noted by the investment firm. As per the statement, “This announcement follows the July 2021 newsContinue reading “Grayscale adds Solana, Uniswap to its Digital Large Cap Fund”

The Internet does not spare anyone. It was proven once again after Representative Madison Cawthorn shared his controversial opinion about using cryptocurrencies as “the new gold standard.” This opinion was shared after Fed Chair Jerome Powell said that the U.S will not ban cryptocurrencies. This statement offered relief to most Bitcoin enthusiasts, with the representativeContinue reading “Here’s what’s wrong with Congressman’s ‘cryptos as new gold standard’ proposal”

Looks like Nigeria may have to wait longer to launch its central bank digital currency – eNaira. The digital currency was going to launch on 1 October 2021. However, according to an announcement by the central bank, the launch has been postponed. Director of Corporate Communications Osita Nwanisobi revealed that the launch was supposed toContinue reading “Nigeria postpones eNaira; cites ‘deference to mood of national re-dedication’”

Ripple’s developer arm RippleX has long been focused on developing federated sidechains on XRPL. The team is in the news today after it shared an engineering preview of the same. The federated sidechains are expected to support the developer community and add smart contracts capabilities to the ledger, along with DeFi, interoperability, and NFTs. AtContinue reading “RippleX previews federated sidechains to compete with Ethereum”

South Korean authorities have managed to implement the new regulations regarding cryptocurrency exchanges in the country. This move resulted in 29 out of 66 exchanges shutting shop, following the deadline of 24 September, 2021. However, the “big four” exchanges – Upbit, Bithumb, Coinone, and Korbit managed to meet the regulatory requirements and continue to functionContinue reading “South Korea: Crypto-exchange Upbit to begin ID verification, others to follow suit”

Nigeria might soon become one of the first countries to launch its central bank digital currency [CBDC], eNaira, on 1 October. Needless to say, this has pushed other nations to consider a national CBDC too. New Zealand has now entered the list of countries looking and trying to understand the scope of a CBDC forContinue reading “New Zealand is in no hurry to launch a CBDC, but won’t miss out on it”

One of the largest cryptocurrency exchanges, Bitfinex halted trading early Thursday for over three hours, at the time of reporting. The centralized exchange tweeted they were “investigating issues with the platform” and had to “temporarily halt trading.” Nearly two hours after freezing trades, the exchange noted, “Our intervention is nearing successful completion and the BitfinexContinue reading “As Bitcoin hits $44,000, Bitfinex goes offline… again”

Many countries have been feeling the heat of competition when it comes to developing their own central bank digital currencies. However, countries aren’t alone in making these efforts. Europe’s central bank, for instance, has for long been interested in the idea of a digital currency. In fact, it recently took another step forward by announcingContinue reading “Will Poland, Ukraine, Estonia lose patience with the ECB’s Digital Euro investigation”

The countdown to launch one of the world’s first central bank digital currencies has begun. On one hand, all eyes have been on China since it has been leading the CBDC race. On the other hand, a few other countries haven’t been far behind. In fact, Nigeria is only a few days away from theContinue reading “Central Bank of Nigeria awaits eNaira launch ahead of website’s success”

Switzerland was one of the first European countries to embrace cryptocurrencies as it did. It’s in the news again today after it approved the first crypto-fund. According to the Swiss Financial Market Supervisory Authority [FINMA], the fund, which goes by the name “Crypto Market Index Fund,” will be restricted to only qualified investors who investContinue reading “Switzerland’s FINMA approves first crypto-fund for select investors”