EU Needs Own Digital ‘EuroCoin’ to Compete With Libra, Says France

French Finance Minister Bruno Le Maire has said that Europe should consider its own “public digital currency” that could challenge Facebook’s Libra. The minister’s remarks — the latest in a series of vocal misgivings about the social media giant’s cryptocurrency plans — were reported by Reuters on Sept. 13.  “EuroCoin”? At a meeting of EU finance ministers in Helsinki, Le Maire told reporters that he would be discussing the potential for a European public digital currency with his counterparts on the continent next month.  He also reiterated his concerns that the proposed…

Hybrid AI Firm Cindicator Launches Tracking App for 150 Digital Assets

Hybrid intelligence firm Cindicator launched Edge, a new web app for receiving and tracking indicators for over 150 digital assets. Estimating probability in the market According to a blog post on Sept. 11, the new product called Cindicator Edge targets holders of Cindicator (CND) tokens and is available on free demo basis. Cindicator Edge’s indicators intend to help in making trading decisions by estimating probabilities of various events across more than 100 crypto assets, stocks and futures, according to the announcement. In order to receive more indicators in real-time, users…

‘Bitcoin Is Digital Gold’ Narrative Still Unproven, Warns Expert Trader

For many, trading cryptocurrency can be a challenge, but the process is made easier if one relies on a combination of technical analysis tools and oscillators to provide insight on which path digital assets like Bitcoin (BTC) might take.  Typically, one sees traders employ the relative strength index (RSI), moving average divergence convergence (MACD), Stochastic RSI (Stoch) and a mixture of exponential moving averages (EMAs), Bollinger Bands, volume measurements and so on. This is good and well, and utilizing these tools often provides great results for traders.  The difficulty of…

Here’s Why China is Pushing A Central Bank Digital Currency, Not Crypto

China is set to launch the world’s first central bank digital currency (CBDC). As the majority of central banks, including in the US and Europe, are tentative over issuing their own CBDCs, the People’s Bank of China (PBoC) has gone all-in on the idea of a digital Yuan and not a crypto asset. But this then leads many to question why the Chinese have been so quick off the mark. Nonetheless, details have emerged that officials seek to combat financial crime, but more significantly than that, to manage technological change…

Nasdaq Launches Decentralized Finance Index for Digital Assets

Major United States stock exchange Nasdaq has unveiled a blockchain decentralized finance (DeFi) index Defix (DEFX). According to a Defix press release published on Sept. 9, brokerage firm Exante streamlined the launch of the Defix index. A disparate group of crypto assets The index includes crypto assets of projects such as the one of Proof-of-Work blockchain Amoveo (VEO), decentralized exchange protocol 0x (ZRX), prediction market Augur (REP). Also the governance token of the decentralized autonomous organization behind the DAI stablecoin and MakerDAO (MKR).  Amoveo main developer Zack Hess commented on…

Galaxy Digital Gains Approval to Underwrite Public Securities Offerings

Michael Novogratz’s cryptocurrency investment bank Galaxy Digital has gained approval from the Financial Industry Regulatory Authority (FINRA) to underwrite registered public offerings of securities. As reported by Bloomberg on Sept. 6, the company has its sights on facilitating security token offerings, or STOs. FINRA is a non-governmental private organization that acts as a self-regulatory body for member firms and exchange markets. The Goldman Sachs of cryptocurrencies Novogratz is a former partner at Goldman Sachs who wants his firm Galaxy Digital to fulfil a similar role in the cryptocurrency space. He…

Liquid Crypto Exchange Unveils Digital Wallet Address for Gram Token Sale Proceeds

Japanese cryptocurrency exchange Liquid has revealed the digital wallet address holding the proceeds from the Gram token sale it conducted in July. In an Aug. 30 announcement, Liquid disclosed the public blockchain wallet address that now keeps all participating customer funds from Gram token sale. Liquid further stated that the funds will remain in cold storage until the release and delivery of the assets by Gram Asia. Gram is the yet-to-be-released native token for the Telegram Open Network (TON). According to statistics and analytics platform Etherscan, the wallet has $4,118,853.70…

US SEC Reaches $10 Million Settlement with Digital Assets Issuers

The United States Securities and Exchange Commission (SEC), a primary governmental regulator, has settled charges with digital assets company Bitqyck Inc. and its founders. Smart contracts and crypto mining? The SEC announced the development in a press release on Aug. 29. According to the announcement, Bruce Bise and Sam Mendez­ are the founders of Bitqyck — a company that provided security offerings for digital assets Bitqy and BitqyM in Dallas, Texas. The company claimed that Bitqy tokens gave investors fractional shares of company stock via a smart contract. Additionally, Bitqyck…

Eight Institutions to Get China’s Digital Currency First

According to sources, the People’s Bank of China is giving its first round of central bank digital currency (CBDC) to online retail giant Alibaba, Internet giant Tencent, five banking organizations and one unknown entity. The first beneficiaries Forbes reported the news on Aug. 27. The sources named are Paul Schulte, who previously worked as head of the China Construction Bank, and an anonymous individual identified as part of China’s CBDC project. According to Schulte, the first beneficiaries of China’s CBDC are Alibaba, Tencent, China Construction Bank, the Industrial and Commercial…

Rwandan Central Bank Looks to Issue Official Digital Currency

Rwanda’s central bank, the National Bank of Rwanda, is researching how to offer an official digital currency. BNN Bloomberg reported the news on Aug. 22. The central bank is interested in offering digital currency as a means to increase transaction efficiency and foster economic growth, per the report. However, Financial Stability Director-General Peace Masozera Uwase remarked that work remains to be done before implementation is on the table: “There are still concerns about how exactly you convert the entire currency into digital form, how to distribute that and how fast…