Iran to begin ‘crypto rial’ CBDC trial despite possible lack of infrastructure: Report

The Central Bank of Iran will make a pilot launch of a central bank digital currency (CBDC) on Sept. 22, the Iranian Chamber of Commerce has announced. The so-called “crypto-rial” has been in the planning stage for several years. The launch of the crypto rial was originally planned for November, according to the Chamber, which said the CBDC was intended “to help improve financial inclusion and function as a powerful tool for the CBI to compete with other stable coins globally.” It added that experts within the country had concerns…

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Jerome Powell is prolonging our economic agony

Can we all agree that the Federal Reserve has a plan to combat runaway inflation? They do. Chair Jerome Powell has all but admitted it. After tempering his comments before previous rate hikes, allowing wiggle room which gave way to market rebounds, Powell has left no bones about this one. It is necessary to wreak some havoc on the economy and put downward pressure on the labor markets and wage increases to stop the creep of inflation. Whether you buy into that logic or if you believe — like Elon…

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Japanese banking giant Nomura launches digital ecosystem VC arm

Nomura, one of the largest investment banks in Japan, has established a venture capital arm aimed at investing in companies focusing on crypto and blockchain. In a Wednesday announcement, Nomura said the business, named Laser Digital, will “provide new value in the area of digital assets” for clients under the Switzerland-based holding company Laser Digital Holdings AG. The investment bank said it chose Switzerland based on its “robust regulatory regime for digital assets and blockchain projects” in addition to potentially recruiting talent. “Staying at the forefront of digital innovation is…

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Hong Kong Monetary Authority provides update on retail CBDC that may become DeFi onramp

The Hong Kong Monetary Authority (HKMA) published a paper outlining the state of research on its proposed retail central bank digital currency (rCBDC) and plans for its further development. This is the third paper the HKMA has published on the e-HKD, as the proposed CBDC is called.  The proposed rCBDC would have a two-tier structure consisting of a wholesale interbank system and the retail user wallet system. No wholesale Hong Kong CBDC has been introduced yet, but research on it began in 2017, four years before rCBDC planning started. The…

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XRP Outperforms By Adding Over 6% Daily Even In Bloodbath

The crypto market has recorded many devastating events in recent times. Since the market crash in May, crypto asset prices have behaved differently every week. Sometimes price outlook is positive, but other times, it is worse.  From September 15 to date, the volatility in the market has skyrocketed. Asset prices are more bearish than bullish. The merge brought a series of price fall starting from Bitcoin, which lost $1000 a few minutes after the upgrade.  Related Reading: Investors Withdraw ETH Holdings Despite Successful Ethereum Merge Ethereum and other altcoins also…

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Kusama Looks Bullish, Can Price Break Weekly Resistance Of $50?

Kusama (KSM) looks bullish on a lower timeframe. Kusama (KSM) price eyes a reclaim of 50 Exponential Moving Average (EMA) on the daily timeframe.  Kusama (KSM) price aims to break above 50 EMA in the 4H timeframe. Kusama (KSM) has had a tough time recently but has shown great strength bouncing up in higher and lower timeframe. Kusama (KSM) price has struggled to remain bullish as the price fell from an all-time high of $600 to $38, with the price maintaining a downtrend with little hope of a relief rally…

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Binance receives green light for crypto services in Dubai

Crypto exchange Binance received a Minimal Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA), enabling the crypto exchange to offer a range of virtual asset services to qualified retail and institutional investors, the company disclosed on Tuesday. The development follows the issuance of the provisional license granted in March, that permitted the company to set up an office in the United Arab Emirates and provide digital asset exchange services to pre-qualified investors and financial firms. With the new permission, Binance will be able to offer a range…

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Bitcoin, Ethereum and altcoins hold intraday gains after Fed hikes interest rates by 0.75%

Bitcoin (BTC) retreated and reversed its intraday gains after the Federal Reserve announced its third consecutive 75 basis point (bps) interest rate rise on Sept. 21. Traders sold the news BTC’s price dropped circa 6.5% from its intraday high of $19,950, hitting $18,660 minutes after the Federal Open Market Committee’s statement. Its decline mirrored a similar sudden correction in the U.S. stock market, with the benchmark S&P 500 dropping 0.5% minutes after the Fed update. BTC/USD daily price chart. Source: TradingView On the other hand, the 10-year U.S. Treasury note…

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Kraken’s Jesse Powell will step down as CEO, stay on as board chair

Jesse Powell, the co-founder and CEO of cryptocurrency exchange Kraken, will be stepping down after leading the platform for more than 11 years. In a Wednesday announcement, Kraken says Powell will be succeeded as CEO by chief operating officer Dave Ripley, who has been with Kraken since 2016. The soon-to-be former CEO will stay with the crypto exchange as the chair of the board, while the company will search for a new chief operating officer. Ripley said his goals were “in lockstep” with Powell’s amid his rise to the new leadership…

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Bandai Namco, SEGA eyeing blockchain gaming: Nifty Newsletter, Sept. 14–20

In this week’s newsletter, read about how a science fiction comic book uses nonfungible tokens (NFTs) to make the reading experience more interactive and how Web3 musicians view NFTs. Check out how big names like Bandai Namco, Sega and Square Enix are eyeing blockchain gaming. In other news, find out how a metaverse-focused fir- integrated NFTs within Minecraft despite its ban on NFTs. And, don’t forget this week’s Nifty News featuring the first metaverse wedding at The Sandbox. Sci-Fi NFT comic book project lays the foundation for CCG development An…

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