12% of revenue came from fees, the highest percentage since Jan. 2018.
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Author: Zack Voell
Bitcoin had an unusually bullish October, with a 29% gain that led the monthly performance ranking of digital assets in the CoinDesk 20.
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Author: Bradley Keoun
With backing from Binance Labs, Nigeria’s Xend Finance is looking to bring DeFi to the world of local credit unions.
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Author: Doreen Wang
The free insurance scheme covers customers for up to £1 million if the firm should ever become insolvent. But crypto holders are left out in the cold.
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Author: Daniel Palmer
Opium has closed a $3.25 million funding round for its BYOD (build your own derivative) platform
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Author: Doreen Wang
Quick Take
- Political betting tends to be more accurate at predicting elections than polls
- Let’s look at what the results tell us now
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members of The Block Genesis.
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this Genesis research on The Block.
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Author: Larry Cermak
Nations working to decommission nuclear weapons should turn to blockchain to build trust and make the verification process more secure, a new policy report says.
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Author: Daniel Palmer
After October’s double-digit price gain, bitcoin may be looking at a short-term pullback.
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Author: Omkar Godbole
The Cayman Islands is building a regulatory framework for “virtual asset service providers” with some measures already enacted.
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Author: Daniel Palmer
The testing phase of China’s central bank digital currency (CBDC) initiative has so far conducted 4 million transactions, according to Yi Gang, the governor of the People’s Bank of China (PBoC).
Yi spoke virtually at the Hong Kong Fintech Week event on Monday and said the testing has been running smoothly across four cities in China with 4 million transactions conducted involving over 2 billion yuan, or $300 million.
Yi said China’s central bank digital currency, also known as DC/EP, is at its early stage and still needs a more comprehensive legal framework. He added that the PBoC will initiate more discussions with overseas central banks and regulatory bodies focusing on the legal frameworks for CBDCs.
Last month, the PBoC published a draft revision to the current central banking law, which seeks to legalize the status of Renminbi in a digital form and prohibit the issuance of any other form of digital tokens that aim to replace the circulation of Renminbi.
Major state-owned commercial banks in China have started the tests for DC/EP among merchants in Chengdu, Suzhou, Shenzhen and Xiong’An, since earlier this year.
Last month, the local government in Shenzhen ran a larger scale of test where it gave away about $1.5 million in DC/EP to 50,000 local residents to let them test it out.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Wolfie Zhao
