New Nigerian Central Bank Document Discusses Regulation of Stablecoins and ICOs
Jan10

New Nigerian Central Bank Document Discusses Regulation of Stablecoins and ICOs

According to a recently unveiled document, the Nigerian central bank will in the future be open to developing a regulatory framework for potential implementations of stablecoins. The document also discusses the regulation of initial coin offerings (ICOs) and how these can become “a new way to attract foreign direct investment (FDI) and raise capital.” ‘A Successful Payment Mechanism’ In its recently unveiled payments system document,...

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Prices in Dollars Rose Almost 54% in Venezuela During 2022
Jan10

Prices in Dollars Rose Almost 54% in Venezuela During 2022

Prices in Venezuela have been rising steadily even when denominated in foreign currency. According to data collected by Ecoanalitica, a market research firm, prices marked in dollars have grown close to 54% during 2022, affecting the income and savings of Venezuelans that have been using the U.S. dollar as an inflation hedge. Prices Grow Even in Dollars in Venezuela Inflation has taken another leg up in Venezuela, with prices of...

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Hong Kong Reaffirms Commitment to Become Regional Crypto Hub
Jan10

Hong Kong Reaffirms Commitment to Become Regional Crypto Hub

Hong Kong has reaffirmed its commitment to become a regional crypto hub in following the collapse of cryptocurrency exchange FTX. “As certain crypto exchanges collapsed one after another, Hong Kong became a quality standing point for digital asset corporates,” said a top government official. Hong Kong Aims to Become Regional Crypto Hub Hong Kong Financial Secretary Paul Chan Mo-po reaffirmed the city’s crypto commitment at a web3...

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Huobi Korea Plans to Cut Ties With Parent Company, Strengthen Domestic Presence
Jan10

Huobi Korea Plans to Cut Ties With Parent Company, Strengthen Domestic Presence

According to a report from South Korea, the Korean subsidiary of Huobi Global is planning to cut ties with the parent company. The management of the trading platform stated that they plan to “strengthen its position” as a domestic cryptocurrency exchange and change its name. Huobi Experiences Significant Withdrawals as Subsidiary Huobi Korea Looks to Go Independent There has been much speculation and many rumors surrounding the...

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Smart Contract Platform Tokens See Double-Digit Gains, Boosting Defi TVL Above $40 Billion
Jan10

Smart Contract Platform Tokens See Double-Digit Gains, Boosting Defi TVL Above $40 Billion

Decentralized finance (defi) and smart contract platform tokens rallied on Monday morning (ET) and the total value locked in defi jumped above the $40 billion zone for the first time since mid-December 2022. The top smart contract platform coins by market capitalization increased 7.1% on January 9, 2023, and most have seen double-digit gains over the last week. Lido Finance Emerges as Most Dominant Defi Protocol, Surpassing Makerdao...

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