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In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n

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\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

Subscribe To Our Newsletter

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\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

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\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

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Follow The Distributed

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\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Artificial Intelligence

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Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

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Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

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Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

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Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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Follow The Distributed

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\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

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Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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Follow The Distributed

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\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

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Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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Type your email here

Follow The Distributed

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\n
Once a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\n
Once a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\n
Once a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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Follow The Distributed

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\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\n
Once a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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Follow The Distributed

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\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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November 24, 2024

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Follow The Distributed

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ADVERTISEMENT

\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

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November 24, 2024

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Follow The Distributed

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\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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Follow The Distributed

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\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

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Follow The Distributed

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\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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November 24, 2024

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\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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Follow The Distributed

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\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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Follow The Distributed

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\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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Follow The Distributed

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\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

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November 24, 2024

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\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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Follow The Distributed

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ADVERTISEMENT

\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Type your email here

Follow The Distributed

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\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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November 24, 2024

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Follow The Distributed

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\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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December 24, 2022 - Updated on April 10, 2023

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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November 24, 2024

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\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

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Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Expected in early 2023, the plan will be put into operation and China expects the project to grow larger not only in Zhejiang but the entire country with the support of the people. <\/li>\n<\/ul>\n\n\n\n
\n
With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Expected in early 2023, the plan will be put into operation and China expects the project to grow larger not only in Zhejiang but the entire country with the support of the people. <\/li>\n<\/ul>\n\n\n\n
\n
With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
According to the South China Morning Post,<\/a> Zhejiang province, where the Alibaba Group headquarters lie, will become a megacity and development zone of 200 billion yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Expected in early 2023, the plan will be put into operation and China expects the project to grow larger not only in Zhejiang but the entire country with the support of the people. <\/li>\n<\/ul>\n\n\n\n
\n
With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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According to the South China Morning Post,<\/a> Zhejiang province, where the Alibaba Group headquarters lie, will become a megacity and development zone of 200 billion yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Expected in early 2023, the plan will be put into operation and China expects the project to grow larger not only in Zhejiang but the entire country with the support of the people. <\/li>\n<\/ul>\n\n\n\n
\n
With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
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The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Adoption

Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

December 24, 2022 - Updated on April 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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China plans to become a Metaverse empire, through which Zhejiang will grow to build a multi-billion dollar Metaverse industry by 2025.<\/p>\n\n\n\n
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According to the South China Morning Post,<\/a> Zhejiang province, where the Alibaba Group headquarters lie, will become a megacity and development zone of 200 billion yuan.<\/li>\n<\/ul>\n\n\n\n
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Expected in early 2023, the plan will be put into operation and China expects the project to grow larger not only in Zhejiang but the entire country with the support of the people. <\/li>\n<\/ul>\n\n\n\n
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With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
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The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
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According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
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A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
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\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
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Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
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More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
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Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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See Related: <\/em><\/strong>Twitter Brings Tweet Tiles Pilot to NFT Marketplaces<\/a><\/p>\n","post_title":"Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"twitter-adds-price-indicators-to-cashtags-including-btc-eth","to_ping":"","pinged":"","post_modified":"2023-04-10 17:55:17","post_modified_gmt":"2023-04-10 07:55:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8913,"post_author":"16","post_date":"2022-12-23 15:49:08","post_date_gmt":"2022-12-23 04:49:08","post_content":"\n
China plans to become a Metaverse empire, through which Zhejiang will grow to build a multi-billion dollar Metaverse industry by 2025.<\/p>\n\n\n\n
\n
According to the South China Morning Post,<\/a> Zhejiang province, where the Alibaba Group headquarters lie, will become a megacity and development zone of 200 billion yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Expected in early 2023, the plan will be put into operation and China expects the project to grow larger not only in Zhejiang but the entire country with the support of the people. <\/li>\n<\/ul>\n\n\n\n
\n
With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The addition of price indicators to cashtags may prove to drive adoption, especially when accompanied by a link to purchase the asset. Although a formal deal hasn't been reached between Twitter and an exchange yet, this may allow users to eventually purchase cryptocurrencies seamlessly from Twitter.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Twitter Brings Tweet Tiles Pilot to NFT Marketplaces<\/a><\/p>\n","post_title":"Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"twitter-adds-price-indicators-to-cashtags-including-btc-eth","to_ping":"","pinged":"","post_modified":"2023-04-10 17:55:17","post_modified_gmt":"2023-04-10 07:55:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8913,"post_author":"16","post_date":"2022-12-23 15:49:08","post_date_gmt":"2022-12-23 04:49:08","post_content":"\n
China plans to become a Metaverse empire, through which Zhejiang will grow to build a multi-billion dollar Metaverse industry by 2025.<\/p>\n\n\n\n
\n
According to the South China Morning Post,<\/a> Zhejiang province, where the Alibaba Group headquarters lie, will become a megacity and development zone of 200 billion yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Expected in early 2023, the plan will be put into operation and China expects the project to grow larger not only in Zhejiang but the entire country with the support of the people. <\/li>\n<\/ul>\n\n\n\n
\n
With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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The addition of price indicators to cashtags may prove to drive adoption, especially when accompanied by a link to purchase the asset. Although a formal deal hasn't been reached between Twitter and an exchange yet, this may allow users to eventually purchase cryptocurrencies seamlessly from Twitter.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Twitter Brings Tweet Tiles Pilot to NFT Marketplaces<\/a><\/p>\n","post_title":"Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"twitter-adds-price-indicators-to-cashtags-including-btc-eth","to_ping":"","pinged":"","post_modified":"2023-04-10 17:55:17","post_modified_gmt":"2023-04-10 07:55:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8913,"post_author":"16","post_date":"2022-12-23 15:49:08","post_date_gmt":"2022-12-23 04:49:08","post_content":"\n
China plans to become a Metaverse empire, through which Zhejiang will grow to build a multi-billion dollar Metaverse industry by 2025.<\/p>\n\n\n\n
\n
According to the South China Morning Post,<\/a> Zhejiang province, where the Alibaba Group headquarters lie, will become a megacity and development zone of 200 billion yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Expected in early 2023, the plan will be put into operation and China expects the project to grow larger not only in Zhejiang but the entire country with the support of the people. <\/li>\n<\/ul>\n\n\n\n
\n
With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Although, these price indicators aren't interactive, yet. They are images sourced from TradingView in real time and are accompanied by a link to \"View on Robinhood.\"<\/li>\n<\/ul>\n\n\n\n
\n
The addition of price indicators to cashtags may prove to drive adoption, especially when accompanied by a link to purchase the asset. Although a formal deal hasn't been reached between Twitter and an exchange yet, this may allow users to eventually purchase cryptocurrencies seamlessly from Twitter.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Twitter Brings Tweet Tiles Pilot to NFT Marketplaces<\/a><\/p>\n","post_title":"Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"twitter-adds-price-indicators-to-cashtags-including-btc-eth","to_ping":"","pinged":"","post_modified":"2023-04-10 17:55:17","post_modified_gmt":"2023-04-10 07:55:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8913,"post_author":"16","post_date":"2022-12-23 15:49:08","post_date_gmt":"2022-12-23 04:49:08","post_content":"\n
China plans to become a Metaverse empire, through which Zhejiang will grow to build a multi-billion dollar Metaverse industry by 2025.<\/p>\n\n\n\n
\n
According to the South China Morning Post,<\/a> Zhejiang province, where the Alibaba Group headquarters lie, will become a megacity and development zone of 200 billion yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Expected in early 2023, the plan will be put into operation and China expects the project to grow larger not only in Zhejiang but the entire country with the support of the people. <\/li>\n<\/ul>\n\n\n\n
\n
With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
Although, these price indicators aren't interactive, yet. They are images sourced from TradingView in real time and are accompanied by a link to \"View on Robinhood.\"<\/li>\n<\/ul>\n\n\n\n
\n
The addition of price indicators to cashtags may prove to drive adoption, especially when accompanied by a link to purchase the asset. Although a formal deal hasn't been reached between Twitter and an exchange yet, this may allow users to eventually purchase cryptocurrencies seamlessly from Twitter.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Twitter Brings Tweet Tiles Pilot to NFT Marketplaces<\/a><\/p>\n","post_title":"Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"twitter-adds-price-indicators-to-cashtags-including-btc-eth","to_ping":"","pinged":"","post_modified":"2023-04-10 17:55:17","post_modified_gmt":"2023-04-10 07:55:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8913,"post_author":"16","post_date":"2022-12-23 15:49:08","post_date_gmt":"2022-12-23 04:49:08","post_content":"\n
China plans to become a Metaverse empire, through which Zhejiang will grow to build a multi-billion dollar Metaverse industry by 2025.<\/p>\n\n\n\n
\n
According to the South China Morning Post,<\/a> Zhejiang province, where the Alibaba Group headquarters lie, will become a megacity and development zone of 200 billion yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Expected in early 2023, the plan will be put into operation and China expects the project to grow larger not only in Zhejiang but the entire country with the support of the people. <\/li>\n<\/ul>\n\n\n\n
\n
With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The current CEO of Twitter, Elon Musk, congratulated<\/a> the Twitter team on this development calling it \"One of many product improvements coming to financial Twitter!<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
Although, these price indicators aren't interactive, yet. They are images sourced from TradingView in real time and are accompanied by a link to \"View on Robinhood.\"<\/li>\n<\/ul>\n\n\n\n
\n
The addition of price indicators to cashtags may prove to drive adoption, especially when accompanied by a link to purchase the asset. Although a formal deal hasn't been reached between Twitter and an exchange yet, this may allow users to eventually purchase cryptocurrencies seamlessly from Twitter.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Twitter Brings Tweet Tiles Pilot to NFT Marketplaces<\/a><\/p>\n","post_title":"Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"twitter-adds-price-indicators-to-cashtags-including-btc-eth","to_ping":"","pinged":"","post_modified":"2023-04-10 17:55:17","post_modified_gmt":"2023-04-10 07:55:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8913,"post_author":"16","post_date":"2022-12-23 15:49:08","post_date_gmt":"2022-12-23 04:49:08","post_content":"\n
China plans to become a Metaverse empire, through which Zhejiang will grow to build a multi-billion dollar Metaverse industry by 2025.<\/p>\n\n\n\n
\n
According to the South China Morning Post,<\/a> Zhejiang province, where the Alibaba Group headquarters lie, will become a megacity and development zone of 200 billion yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Expected in early 2023, the plan will be put into operation and China expects the project to grow larger not only in Zhejiang but the entire country with the support of the people. <\/li>\n<\/ul>\n\n\n\n
\n
With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
The current CEO of Twitter, Elon Musk, congratulated<\/a> the Twitter team on this development calling it \"One of many product improvements coming to financial Twitter!<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
Although, these price indicators aren't interactive, yet. They are images sourced from TradingView in real time and are accompanied by a link to \"View on Robinhood.\"<\/li>\n<\/ul>\n\n\n\n
\n
The addition of price indicators to cashtags may prove to drive adoption, especially when accompanied by a link to purchase the asset. Although a formal deal hasn't been reached between Twitter and an exchange yet, this may allow users to eventually purchase cryptocurrencies seamlessly from Twitter.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Twitter Brings Tweet Tiles Pilot to NFT Marketplaces<\/a><\/p>\n","post_title":"Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"twitter-adds-price-indicators-to-cashtags-including-btc-eth","to_ping":"","pinged":"","post_modified":"2023-04-10 17:55:17","post_modified_gmt":"2023-04-10 07:55:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8913,"post_author":"16","post_date":"2022-12-23 15:49:08","post_date_gmt":"2022-12-23 04:49:08","post_content":"\n
China plans to become a Metaverse empire, through which Zhejiang will grow to build a multi-billion dollar Metaverse industry by 2025.<\/p>\n\n\n\n
\n
According to the South China Morning Post,<\/a> Zhejiang province, where the Alibaba Group headquarters lie, will become a megacity and development zone of 200 billion yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Expected in early 2023, the plan will be put into operation and China expects the project to grow larger not only in Zhejiang but the entire country with the support of the people. <\/li>\n<\/ul>\n\n\n\n
\n
With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Whenever you make a tweet about a particular asset, Bitcoin for example, you add an indicator before the ticker. So you'd type in $BTC<\/a>, and then when you click on the text it'll bring you to an archive showing the price indicator and popular tweets about BTC.<\/li>\n<\/ul>\n\n\n\n
\n
The current CEO of Twitter, Elon Musk, congratulated<\/a> the Twitter team on this development calling it \"One of many product improvements coming to financial Twitter!<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
Although, these price indicators aren't interactive, yet. They are images sourced from TradingView in real time and are accompanied by a link to \"View on Robinhood.\"<\/li>\n<\/ul>\n\n\n\n
\n
The addition of price indicators to cashtags may prove to drive adoption, especially when accompanied by a link to purchase the asset. Although a formal deal hasn't been reached between Twitter and an exchange yet, this may allow users to eventually purchase cryptocurrencies seamlessly from Twitter.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Twitter Brings Tweet Tiles Pilot to NFT Marketplaces<\/a><\/p>\n","post_title":"Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"twitter-adds-price-indicators-to-cashtags-including-btc-eth","to_ping":"","pinged":"","post_modified":"2023-04-10 17:55:17","post_modified_gmt":"2023-04-10 07:55:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8913,"post_author":"16","post_date":"2022-12-23 15:49:08","post_date_gmt":"2022-12-23 04:49:08","post_content":"\n
China plans to become a Metaverse empire, through which Zhejiang will grow to build a multi-billion dollar Metaverse industry by 2025.<\/p>\n\n\n\n
\n
According to the South China Morning Post,<\/a> Zhejiang province, where the Alibaba Group headquarters lie, will become a megacity and development zone of 200 billion yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Expected in early 2023, the plan will be put into operation and China expects the project to grow larger not only in Zhejiang but the entire country with the support of the people. <\/li>\n<\/ul>\n\n\n\n
\n
With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Whenever you make a tweet about a particular asset, Bitcoin for example, you add an indicator before the ticker. So you'd type in $BTC<\/a>, and then when you click on the text it'll bring you to an archive showing the price indicator and popular tweets about BTC.<\/li>\n<\/ul>\n\n\n\n
\n
The current CEO of Twitter, Elon Musk, congratulated<\/a> the Twitter team on this development calling it \"One of many product improvements coming to financial Twitter!<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
Although, these price indicators aren't interactive, yet. They are images sourced from TradingView in real time and are accompanied by a link to \"View on Robinhood.\"<\/li>\n<\/ul>\n\n\n\n
\n
The addition of price indicators to cashtags may prove to drive adoption, especially when accompanied by a link to purchase the asset. Although a formal deal hasn't been reached between Twitter and an exchange yet, this may allow users to eventually purchase cryptocurrencies seamlessly from Twitter.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Twitter Brings Tweet Tiles Pilot to NFT Marketplaces<\/a><\/p>\n","post_title":"Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"twitter-adds-price-indicators-to-cashtags-including-btc-eth","to_ping":"","pinged":"","post_modified":"2023-04-10 17:55:17","post_modified_gmt":"2023-04-10 07:55:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8913,"post_author":"16","post_date":"2022-12-23 15:49:08","post_date_gmt":"2022-12-23 04:49:08","post_content":"\n
China plans to become a Metaverse empire, through which Zhejiang will grow to build a multi-billion dollar Metaverse industry by 2025.<\/p>\n\n\n\n
\n
According to the South China Morning Post,<\/a> Zhejiang province, where the Alibaba Group headquarters lie, will become a megacity and development zone of 200 billion yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Expected in early 2023, the plan will be put into operation and China expects the project to grow larger not only in Zhejiang but the entire country with the support of the people. <\/li>\n<\/ul>\n\n\n\n
\n
With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

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\n
Twitter officially announced<\/a> the launch of $Cashtags with data which show the price of various assets, an expansion on the already existing feature. The initial launch has limited assets but in the coming weeks Twitter will \"refine the user experience and expand our coverage of symbols.<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
Whenever you make a tweet about a particular asset, Bitcoin for example, you add an indicator before the ticker. So you'd type in $BTC<\/a>, and then when you click on the text it'll bring you to an archive showing the price indicator and popular tweets about BTC.<\/li>\n<\/ul>\n\n\n\n
\n
The current CEO of Twitter, Elon Musk, congratulated<\/a> the Twitter team on this development calling it \"One of many product improvements coming to financial Twitter!<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
Although, these price indicators aren't interactive, yet. They are images sourced from TradingView in real time and are accompanied by a link to \"View on Robinhood.\"<\/li>\n<\/ul>\n\n\n\n
\n
The addition of price indicators to cashtags may prove to drive adoption, especially when accompanied by a link to purchase the asset. Although a formal deal hasn't been reached between Twitter and an exchange yet, this may allow users to eventually purchase cryptocurrencies seamlessly from Twitter.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Twitter Brings Tweet Tiles Pilot to NFT Marketplaces<\/a><\/p>\n","post_title":"Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"twitter-adds-price-indicators-to-cashtags-including-btc-eth","to_ping":"","pinged":"","post_modified":"2023-04-10 17:55:17","post_modified_gmt":"2023-04-10 07:55:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8913,"post_author":"16","post_date":"2022-12-23 15:49:08","post_date_gmt":"2022-12-23 04:49:08","post_content":"\n
China plans to become a Metaverse empire, through which Zhejiang will grow to build a multi-billion dollar Metaverse industry by 2025.<\/p>\n\n\n\n
\n
According to the South China Morning Post,<\/a> Zhejiang province, where the Alibaba Group headquarters lie, will become a megacity and development zone of 200 billion yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Expected in early 2023, the plan will be put into operation and China expects the project to grow larger not only in Zhejiang but the entire country with the support of the people. <\/li>\n<\/ul>\n\n\n\n
\n
With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Twitter officially announced<\/a> the launch of $Cashtags with data which show the price of various assets, an expansion on the already existing feature. The initial launch has limited assets but in the coming weeks Twitter will \"refine the user experience and expand our coverage of symbols.<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
Whenever you make a tweet about a particular asset, Bitcoin for example, you add an indicator before the ticker. So you'd type in $BTC<\/a>, and then when you click on the text it'll bring you to an archive showing the price indicator and popular tweets about BTC.<\/li>\n<\/ul>\n\n\n\n
\n
The current CEO of Twitter, Elon Musk, congratulated<\/a> the Twitter team on this development calling it \"One of many product improvements coming to financial Twitter!<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
Although, these price indicators aren't interactive, yet. They are images sourced from TradingView in real time and are accompanied by a link to \"View on Robinhood.\"<\/li>\n<\/ul>\n\n\n\n
\n
The addition of price indicators to cashtags may prove to drive adoption, especially when accompanied by a link to purchase the asset. Although a formal deal hasn't been reached between Twitter and an exchange yet, this may allow users to eventually purchase cryptocurrencies seamlessly from Twitter.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Twitter Brings Tweet Tiles Pilot to NFT Marketplaces<\/a><\/p>\n","post_title":"Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"twitter-adds-price-indicators-to-cashtags-including-btc-eth","to_ping":"","pinged":"","post_modified":"2023-04-10 17:55:17","post_modified_gmt":"2023-04-10 07:55:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8913,"post_author":"16","post_date":"2022-12-23 15:49:08","post_date_gmt":"2022-12-23 04:49:08","post_content":"\n
China plans to become a Metaverse empire, through which Zhejiang will grow to build a multi-billion dollar Metaverse industry by 2025.<\/p>\n\n\n\n
\n
According to the South China Morning Post,<\/a> Zhejiang province, where the Alibaba Group headquarters lie, will become a megacity and development zone of 200 billion yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Expected in early 2023, the plan will be put into operation and China expects the project to grow larger not only in Zhejiang but the entire country with the support of the people. <\/li>\n<\/ul>\n\n\n\n
\n
With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Twitter adds price indicators for various major stocks and ETFs such as the S&P500 and AAPL, alongside BTC and ETH.<\/p>\n\n\n\n
\n
Twitter officially announced<\/a> the launch of $Cashtags with data which show the price of various assets, an expansion on the already existing feature. The initial launch has limited assets but in the coming weeks Twitter will \"refine the user experience and expand our coverage of symbols.<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
Whenever you make a tweet about a particular asset, Bitcoin for example, you add an indicator before the ticker. So you'd type in $BTC<\/a>, and then when you click on the text it'll bring you to an archive showing the price indicator and popular tweets about BTC.<\/li>\n<\/ul>\n\n\n\n
\n
The current CEO of Twitter, Elon Musk, congratulated<\/a> the Twitter team on this development calling it \"One of many product improvements coming to financial Twitter!<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
Although, these price indicators aren't interactive, yet. They are images sourced from TradingView in real time and are accompanied by a link to \"View on Robinhood.\"<\/li>\n<\/ul>\n\n\n\n
\n
The addition of price indicators to cashtags may prove to drive adoption, especially when accompanied by a link to purchase the asset. Although a formal deal hasn't been reached between Twitter and an exchange yet, this may allow users to eventually purchase cryptocurrencies seamlessly from Twitter.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Twitter Brings Tweet Tiles Pilot to NFT Marketplaces<\/a><\/p>\n","post_title":"Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"twitter-adds-price-indicators-to-cashtags-including-btc-eth","to_ping":"","pinged":"","post_modified":"2023-04-10 17:55:17","post_modified_gmt":"2023-04-10 07:55:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8913,"post_author":"16","post_date":"2022-12-23 15:49:08","post_date_gmt":"2022-12-23 04:49:08","post_content":"\n
China plans to become a Metaverse empire, through which Zhejiang will grow to build a multi-billion dollar Metaverse industry by 2025.<\/p>\n\n\n\n
\n
According to the South China Morning Post,<\/a> Zhejiang province, where the Alibaba Group headquarters lie, will become a megacity and development zone of 200 billion yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Expected in early 2023, the plan will be put into operation and China expects the project to grow larger not only in Zhejiang but the entire country with the support of the people. <\/li>\n<\/ul>\n\n\n\n
\n
With the official announcement of the province, 57 million residents are responsive to this project. According to our exclusive interview with Ms. Xiao Ying, an investor in Zhejiang province, Ms. Ying said that for an investor like her, this is a long-term opportunity. At the same time, she is pretty supportive of this move of the Chinese government on a chance to develop the country. <\/li>\n<\/ul>\n\n\n\n
See Related:<\/strong><\/em> Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
\n
The project is also somewhat similar to the Korean development project Metaverse<\/a> announced on Monday. It can be seen that Asia is moving towards a common digital development platform. With this action, Crypto projects from Asia will have high quality creating many opportunities for investors.<\/li>\n<\/ul>\n\n\n\n
\n
According to Zhejiang metaverse plan, the project will start this year and \"bear fruit\" in 2025. In addition to the main goals outlined in the provincial plan, the province also develops \"building supply chains, complete industry ecosystem, and application\u201d, seeking innovation is developing Metaverse app-developing innovations.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG<\/a><\/p>\n","post_title":"China Aims To Make Zhejiang A Metaverse Hot Zone By 2025","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"china-aims-to-make-zhejiang-a-metaverse-hot-zone-by-2025","to_ping":"","pinged":"","post_modified":"2022-12-24 01:49:15","post_modified_gmt":"2022-12-23 14:49:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8913","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8934,"post_author":"13","post_date":"2022-12-22 10:33:35","post_date_gmt":"2022-12-21 23:33:35","post_content":"\n
Kazakhstan is making significant progress in developing its central bank digital currency<\/a> (CBDC), having completed trial phases. In a report<\/a> released by the country\u2019s central bank, Kazakh is also planning to refine its CBDC prototype with plans to test with a few users underway.<\/p>\n\n\n\n
The major crypto-mining country is also seeking partnerships with other jurisdictions globally - with the introduction of offline capabilities and connections with non-bank mediators.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launc<\/a>h Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
\u2018\u2018We will develop solutions for launching industrial operations and cooperate with other central banks on cross-border and currency-exchange operations\u2026 the unique advantages of the national digital currency relate to conducting a chain of transactions offline,\u2019\u2019<\/em> the statement said.<\/p>\n\n\n\n
Last December, Kazakhstan announced that it was working on a CBDC pilot in partnership with Corda - with a decision on an extensive development set for 2022. The step was followed by a collaboration with Binance to test the use cases of the e-tenge on BNB Chain.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest<\/a><\/p>\n\n\n\n
Kazakhstani Lower House Passes Bill Capping Energy Usage In Crypto Mining<\/h2>\n\n\n\n
Meanwhile, the central Asian country is continuing its crackdown on crypto mining activities to ease its overwhelmed energy supply. Kazakh lawmakers passed<\/a> a bill last Thursday to control energy on mining activities - including the introduction of corporate taxes. The legislation allocates 500 megawatts to miners with a clause permitting registered firms to purchase extra power from the government.<\/p>\n\n\n\n
Following China's ban on cryptocurrency mining in May 2021, Kazakh saw an influx of miners. Surging energy consumption in the sector forced the former soviet republic \u2013 then a net energy exporter \u2013 to start importing electricity. Also, in the new bill, Kazakhstani legislators are planning to introduce corporate taxes on the miners.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Mexico Central Bank To Issue A CBDC By 2025<\/a><\/p>\n","post_title":"Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"kazakhstan-plans-cbdc-development-until-2025-passes-bill-capping-btc-mining","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:32","post_modified_gmt":"2023-04-10 07:58:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8934","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8894,"post_author":"16","post_date":"2022-12-20 21:42:18","post_date_gmt":"2022-12-20 10:42:18","post_content":"\n
After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the Metaverse.<\/p>\n\n\n\n
\n
A spokesman for Gyeongbuk province said<\/a> that no specific investment amount has been given yet, and tax exemptions or deductions will be applied according to regulations.<\/li>\n<\/ul>\n\n\n\n
\n
\u201cWe will prioritize expanding economic, cultural, trade, and people-centric exchanges with Vietnam by utilizing the metaverse,\u201d<\/em> said Governor Lee Cheol-Woo after his visit to Bac Ninh, Vietnam.<\/li>\n<\/ul>\n\n\n\n
\n
Gyeongbuk said it will invest 18 billion won (about 13.8 million US dollars) in the second quarter of 2023 with the goal of becoming a metaverse technology hub. The project aims to bring over 1 trillion won in value to this province.<\/li>\n<\/ul>\n\n\n\n
\n
More broadly, newly inaugurated South Korean President Yoon Suk-Yeol believes that the development of the Metaverse and Web3 will be a top priority in the country. Above all, Korea will spend $185 million to develop <\/a>related industries, stated the Ministry of Science and ICT.<\/li>\n<\/ul>\n\n\n\n
\n
Japan, South Korea's neighbor, announced<\/a> that it would assist in developing this industry, believing that the development would give Japan and Asia a new economic pillar.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/strong><\/em>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n","post_title":"Vietnam-Korea Relationship To Be Strengthened By Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vietnam-korea-relationship-to-be-strengthened-by-metaverse","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/south-korean-government-to-invest-187m-into-the-metaverse\/","post_modified":"2023-04-10 18:00:05","post_modified_gmt":"2023-04-10 08:00:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8894","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8717,"post_author":"13","post_date":"2022-12-10 00:36:59","post_date_gmt":"2022-12-09 13:36:59","post_content":"\n
The Australian eAUD program \u2013 researching the use cases of a CBDC<\/a> in Australia \u2013 has attracted a growing interest<\/a> in the financial space. In a speech by the country\u2019s central bank assistant governor Brad Jones, over 140 use case proposals from 80 entities were submitted.<\/p>\n\n\n\n
Some of them include e-commerce payments, government remittances, and the trading and settlements of tokenized assets<\/a>. The Australian government is conducting the pilot eAUD program in collaboration with the Digital Finance Cooperative Research Centre (DFCRC.)<\/p>\n\n\n\n
In the speech, the assistant governor outlined some of the problems the CBDC sought to solve and their relevance in Australia. On the list is the ability of a digital currency to strengthen financial inclusion, which Jones opined could be insignificant in Australia since most Australians accessed financial services.<\/p>\n\n\n\n
Another motivation for CBDCs that the report highlighted is the support for universal access to public money. According to Jones, physical cash was readily available in Australia, with recent surveys showing that about 95% of Australians live within 4 kilometers of cash withdrawal points. In addition, about 15% make most of their payments in cash.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n\n\n\n
Australia Expects A CBDC To Create Efficiency In The Financial Systems<\/h2>\n\n\n\n
CBDCs were also lauded in the report as a way in which it could increase competition in the payment systems, bringing down the cost of transactions. Besides, the asset class is expected to boost cross-border payments, which according to the report, remains inefficient.<\/p>\n\n\n\n
\u2018\u2018In Australia, as in many advanced economies, cross-border retail money transfers conducted via banks can routinely cost 5% or more and take up to two business days to settle. This is unsatisfactory and explains why cross-border payments are an area of intense focus for policymakers,\u2019\u2019<\/em> the Assistant Governor\u2019s speech read.<\/p>\n\n\n\n
However, the report noted some concerns about the eAUD, including the potential to disrupt bank intermediaries and monetary policy transmission. In addition, the speech also pointed out a potential of a bank run during volatile conditions in the financial market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> US Banks Partner With NY Fed For CBDC Blockchain Pilot<\/a><\/p>\n","post_title":"Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"australian-cbdc-pilot-program-eaud-receives-140-use-cases-amidst-growing-interest","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/tokenized-assets\/","post_modified":"2023-04-10 18:11:21","post_modified_gmt":"2023-04-10 08:11:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8717","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8676,"post_author":"13","post_date":"2022-12-08 22:44:35","post_date_gmt":"2022-12-08 11:44:35","post_content":"\n
Music record label Warner Music Group has teamed<\/a> up with LGND Music - an upcoming marketplace on Polygon - to allow signed artists to sell music NFTs. Also included in the deal is the dance record label Spinnin\u2019 Records, a popular platform in electronic dance.<\/p>\n\n\n\n
''We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,''<\/em> remarked Michael Rockwell, the CEO of LGND Music, in a statement dated December 6. ''We have been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world,''<\/em> he added. <\/p>\n\n\n\n
LGND is planning to go live in January 2023 as a digital marketplace that sells songs as NFTs - where users can buy and listen to them on the platform. The Web3 startup will also feature desktop and mobile NFT apps and offer support for music NFTs from other companies.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n\n\n\n
Polygon Welcomes The Deal As An Evolution In The Music Industry<\/h2>\n\n\n\n
Polygon Studios CEO Ryan Wyatt thinks the new partnership is the right step in the music industry. In a statement, Wyatt said, ''the way that we own and experience music is evolving by fully embracing decentralized technologies and collectibles.'' <\/em><\/p>\n\n\n\n
According to its website<\/a>, LGND is a platform that lets users collect, own, and trade music. The company features Music digital collectibles or Virtual Vinyl - a high-resolution audio that aims to allow for actual music ownership. The e-commerce platform also aims to let fans own music tokens and work with digital collectibles.<\/p>\n\n\n\n
On the other hand, WMG has entered into several partnerships relating to Web 3.0 in 2022, including one with the Sandbox that seeks to launch metaverse concerts and events in the blockchain. The music record label also signed a partnership with the Ethereum NFT marketplace OpenSea to allow artists sell their content on the platform.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Sensorium Teams Up With Polygon Studios To Accelerate The Development And Adoption Of Web3 Projects<\/a><\/p>\n","post_title":"Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warner-music-group-to-launch-music-nfts-in-partnership-with-polygon-lgnd","to_ping":"","pinged":"","post_modified":"2022-12-08 22:47:36","post_modified_gmt":"2022-12-08 11:47:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8676","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8630,"post_author":"13","post_date":"2022-12-03 23:04:50","post_date_gmt":"2022-12-03 12:04:50","post_content":"\n
Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to a report<\/a> by Bloomberg. Part of the proposed legislation, subject to the Italian parliament's approval, includes a stamp duty on the asset class.<\/p>\n\n\n\n
The proposal includes an option to pay 14% for the eligible individuals who declare their holdings before January 1, 2023 - a step aimed to encourage more disclosures among the Italian investors. <\/p>\n\n\n\n
Italy will impose a fixed tax rate of 26% on profits from digital assets to investors \u2013 whose cumulative crypto holdings were more than 51,645.60 euros ($54,000) for over seven consecutive days during the tax year - if the proposal gets the parliamentary approval.   <\/p>\n\n\n\n
Italy Joins Portugal In Taxing Digital Assets<\/h2>\n\n\n\n
The Italian government led by Prime Minister Giorgia Meloni is hopeful that the new proposal would help to net the fast-growing digital asset adoption. According to data<\/a> provided by Triple A, about 2.3% of the Italian population, or 1.3 million people, own cryptocurrencies. Similar steps have been taken by Portugal \u2013 another European country that recently changed its tax-friendly crypto policies to include a 28% tax deduction.<\/p>\n\n\n\n
At the same time, Italy is keen to attract more players in the cryptocurrency space. Cryptocurrency exchange Gemini was recently registered<\/a> as a Virtual Currency Operator and custodial wallet provider by the Italian Organismo Agenti E Mediatori. Binance, Coinbase, and Crypto.com are other exchanges licensed to offer crypto services in the island nation.<\/p>\n\n\n\n
The licenses were issued considering anti-money laundering laws and the curbing of fraudulent transactions. Notably, the European Union (EU) plans to roll out MiCA legislation in 2024.<\/p>\n","post_title":"Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"italy-to-introduce-26-capital-gains-levy-on-cryptocurrencies-in-2023","to_ping":"","pinged":"","post_modified":"2022-12-04 00:36:57","post_modified_gmt":"2022-12-03 13:36:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8603,"post_author":"13","post_date":"2022-12-01 20:20:17","post_date_gmt":"2022-12-01 09:20:17","post_content":"\n
The Commonwealth of Dominica is launching<\/a> the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.<\/p>\n\n\n\n
''In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world\u2019s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica<\/em>,'' Huobi announced in a press release. ''Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,''<\/em> it added.<\/p>\n\n\n\n
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime \u2013 the exchange\u2019s platform for offering pre-listed digital assets.<\/p>\n\n\n\n
DMC To Power Metaverse Dominica Digital<\/h2>\n\n\n\nOnce a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens<\/a> (SBTs). SBT gives the holder special privileges, including - citizenship in the Metaverse Dominica digital \u2013 a virtual platform with a 1:1 representation of the real world.<\/p>\n\n\n\n
Other benefits include a passport backed by the government of the Commonwealth of Dominica \u2013 offering access to more than 130 countries. DMC holders also qualify for ''airdrops<\/a> in TRX, BTT, SUN, JST, and DMC,''<\/em> the press release noted.<\/p>\n\n\n\n
Tron blockchain \u2013 which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica \u2013 is the designated national blockchain infrastructure for the Caribbean Island nation.<\/p>\n","post_title":"Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"dominica-welcomes-first-national-crypto-dmc-in-partnership-with-huobi-tron","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/soulbound-tokens\/","post_modified":"2022-12-01 20:39:10","post_modified_gmt":"2022-12-01 09:39:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8550,"post_author":"13","post_date":"2022-11-26 01:41:37","post_date_gmt":"2022-11-25 14:41:37","post_content":"\n
The Russian Federal Assembly\u2019s lower house is working on a legal framework for creating an official Russian crypto exchange - according to a report<\/a> by a local media house.<\/p>\n\n\n\n
The state Duma is reportedly amending existing laws in a draft that will be sent to the Ministry of Finance and the Russian central bank. The deliberations on the \u2018\u2018algorithm of actions and reinforced concrete discussions\u2019\u2019 are ongoing.<\/p>\n\n\n\n
In mid-November, the deputies consulted the market players to inform them of the changes. However, the consultations lacked representatives from the Ministry of Finance and the Bank of Russia. The two institutions have previously expressed skepticism about the digital asset class.\u00a0\u00a0<\/p>\n\n\n\n
See Related: <\/em><\/strong>Russian Government To Legalize Crypto For Cross-Border Payments<\/a><\/p>\n\n\n\n
Russian Economic Policy Committee Pushes For Regulatory Reforms<\/h2>\n\n\n\n
Sergey Altukhov, a Russian Economic Policy Committee member, said it was time Russia stopped burying its head in the sand.<\/p>\n\n\n\n
\u2018\u2018It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate in a large stream outside government regulations,\u2019\u2019 <\/em>Sergey remarked. He added that it is important to have the digital asset class legalized the \u2018\u2018rules of the game\u2019\u2019 <\/em>adjusted. <\/p>\n\n\n\n
His comments are similar to those of the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. The official hinted at a crypto exchange in June attached to the Moscow exchange. Aksakov believes such a platform will enable crypto transactions in \u2018\u2018strict requirements\u2019\u2019 of the Central Bank.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here\u2019s Why\u2026<\/a><\/p>\n","post_title":"Russian Legislators Propose A National Cryptocurrency Exchange","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-legislators-propose-a-national-cryptocurrency-exchange","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-11-27 16:56:39","post_modified_gmt":"2022-11-27 05:56:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8441,"post_author":"13","post_date":"2022-11-18 19:11:08","post_date_gmt":"2022-11-18 08:11:08","post_content":"\n
China\u2019s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has\u00a0 entered<\/a>\u00a0into a partnership with Malaysian digital firm, MyEG, which will see the latter run Xinghuo International Supernode for global connectivity.<\/p>\n\n\n\n
The duo announced the deal during the 2022 China\u2019s World Internet Conference - co-hosted by the country\u2019s Ministry of Industry and Information Technology and the Shenzhen Municipal People\u2019s Government.<\/p>\n\n\n\n
In the partnership, Xinghuo International Supernode will link to MyEG\u2019s blockchain, Zetrix (a layer one<\/a> public network compatible with Xinghuo BIF.) As a result, Zetrix will support digital assets and transfers \u2013 in businesses and governments through a blockchain ecosystem.<\/p>\n\n\n\n
Xinghuo BIF is a global blockchain infrastructure under Beijing\u2019s Ministry of Industry and Information technology. The platforms aim to deploy a trustless digital platform based on talking data with \u2018\u2019more open transactions powered by a traceable consensus.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related: <\/strong><\/em>Russia Is Considering Digital Ruble Settlements With China<\/a><\/p>\n\n\n\n
Xinghuo Touted As An Opportunity In The \u2018Next Generation Of The Internet.\u2019<\/h2>\n\n\n\n
\n
The President of the China Academy of Information and Communications Technology, an institution spearheaded by Xinghuo BIF, Xiaohui Yu, lauded the collaboration. Yu termed the move as a chance to explore the benefits of the next generation of the internet \u2013 through a robust blockchain network.<\/li>\n<\/ul>\n\n\n\n
\n
It has been slightly over a year since Beijing issued a blanket ban on cryptocurrencies and mining in the second-largest economy. The move \u2013 which saw one of the largest expatriations of crypto firms \u2013 opened the country up to develop its version of the technology, including China's CBDC<\/a> - the digital yuan.<\/li>\n<\/ul>\n\n\n\n
\n
Commenting on the partnership, the Group MD of MyEG and co-founder of Zetrix, Wong Thean Soon, said that \u2018\u2019Xinghou BIF is already the most advanced and heavily utilized chain for industrial and trade applications. Now with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web3 evolution.\u2019\u2019<\/em><\/li>\n<\/ul>\n\n\n\n
\n
In July, the two platforms (Xinghuo BIF and Zetrix) jointly\u00a0 unveiled<\/a>\u00a0an array of web 3 services: Blockchain-based identifiers, verifiable credentials, and e-signing services. Xinghuo BIF has an existing deal with the German multinational conglomerate Siemens \u2013 for deploying an industrial blockchain.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>China\u2019s Supreme Court Declares Crypto Transactions \u201cIllegal Fundraising\u201d<\/a><\/p>\n","post_title":"China\u2019s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"chinas-national-blockchain-xinghuo-bif-eyes-global-expansion-in-deal-with-malaysian-myeg","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2022-11-19 00:29:43","post_modified_gmt":"2022-11-18 13:29:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8441","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Twitter Adds Price Indicators To Cashtags Including $BTC, $ETH

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Kazakhstan Plans CBDC Development Until 2025, Passes Bill Capping BTC Mining

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After a Friday visit to Vietnam, Korea plans to strengthen friendships between the two countries with the use of the ...

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Adoption

Australian CBDC Pilot Program eAUD Receives 140 Use Cases Amidst Growing Interest

The Australian eAUD program – researching the use cases of a CBDC in Australia – has attracted a growing interest ...

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Adoption

Warner Music Group To Launch Music NFTs In Partnership With Polygon, LGND

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Adoption

Italy to Introduce 26% Capital Gains Levy On Cryptocurrencies In 2023

Italy has proposed a 26% capital gains tax on digital assets for profits above 2,000 euros (USD 2,062.3), according to ...

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Adoption

Dominica Welcomes First National Crypto DMC In Partnership With Huobi, Tron

The Commonwealth of Dominica is launching the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, ...

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Adoption

Russian Legislators Propose A National Cryptocurrency Exchange

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Adoption

China’s National Blockchain Xinghuo BIF Eyes Global Expansion In Deal With Malaysian MyEG

China’s state blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has entered into a partnership with Malaysian digital firm, MyEG, which will ...

by Jared Kirui
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