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FameEX Morning Crypto News Recap | November 28, 2023
2023-11-28 11:59:50
Eurasian Economic Union Minister Envisions CBDCs as Precursors to Digital Reserve Currency Introduction
Sergei Glazyev, the Minister of Integration and Macroeconomics of the Eurasian Economic Union (EEU), anticipates that the adoption of central bank digital currencies (CBDCs) could reshape regional trade dynamics. He suggests that multiple CBDCs could enable countries to conduct trade settlements independent of the U.S. dollar, possibly leading to a new reserve currency emerging as early as next year.
IBM Launches 'Utility-Scale' Quantum Computing in Japan Amidst Competition Challenges in China and Europe
IBM has unveiled a 127-qubit quantum computing system at the University of Tokyo, becoming the first "utility-scale" quantum system in the region. The move comes as Europe faces challenges in the quantum computing race, with experts emphasizing the importance of not falling behind in this field after potential setbacks in artificial intelligence development.
Standard Chartered Participates in China's CBDC Pilot Testing Standard Chartered, in partnership with City Bank Clearing Services Co., will enable its clients to buy, trade, and redeem digital Renminbi (e-CNY) within their bank accounts. The bank expressed optimism about the future of digital Renminbi, emphasizing its strong presence in the Chinese market for over 165 years. The Average Value of Undeclared Cryptocurrency in Japan Decreased by 19% in 2022 The Japanese National Tax Agency (NTA) has revealed a 19% decrease in the average value of unreported cryptocurrency income in 2022, according to its annual tax investigation report. Additionally, the report noted a 35% increase in tax evasion cases involving cryptocurrency assets during the same period. Hive Expands Data Center Operations in Sweden Cryptocurrency mining firm Hive Digital Technologies is set to enhance its global footprint with the acquisition of property and a data center in Boden, Sweden. Hive currently operates data centers in Canada, Sweden, and Iceland, with a focus on utilizing green energy for cloud-based digital asset mining. Reserve Bank of India (RBI) Engages in CBDC Discussions with US, Hong Kong, and Swift for Cross-Border Transactions The Reserve Bank of India (RBI) is engaging in discussions with regulatory authorities in the United States and Hong Kong, along with the Society for Worldwide Interbank Financial Telecommunications (SWIFT), to explore the possibility of efficient and cost-effective cross-border settlements using central bank digital currencies (CBDCs). Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
