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FameEX Morning Crypto News Recap | November 28, 2023
2023-11-28 11:59:51
Eurasian Economic Union Minister Sees CBDCs as Forerunners to Digital Reserve Currency Introduction
Sergei Glazyev, the Minister of Integration and Macroeconomics of the Eurasian Economic Union (EEU), foresees that the adoption of central bank digital currencies (CBDCs) may transform regional trade dynamics. He believes that the introduction of several CBDCs could facilitate trade settlements beyond the influence of the U.S. dollar, potentially paving the way for a new reserve currency as soon as next year.
IBM Introduces 'Utility-Scale' Quantum Computing in Japan Amid Competitive Challenges in China and Europe IBM has launched a 127-qubit quantum computing system at the University of Tokyo, establishing the first "utility-scale" quantum system in the region. This move comes amid challenges in the quantum computing race for Europe, where experts stress the significance of not lagging behind, especially following potential setbacks in artificial intelligence development. Standard Chartered Joins China's CBDC Pilot Test Program Standard Chartered has teamed up with City Bank Clearing Services Co. to offer its clients the ability to purchase, trade, and redeem digital Renminbi (e-CNY) within their bank accounts. The bank, with its long-standing 165-year presence in the Chinese market, expressed optimism about the future of digital Renminbi. The Average Value of Unreported Cryptocurrency Holdings in Japan Declined by 19% in 2022 In 2022, the Japanese National Tax Agency (NTA) reported a 19% drop in the average value of undeclared cryptocurrency income, as outlined in its annual tax investigation summary. During the same year, the NTA also noted a 35% increase in cases involving tax evasion related to cryptocurrency assets. Hive Broadens Data Center Operations in Sweden Cryptocurrency mining company Hive Digital Technologies is expanding its global presence with the acquisition of property and a data center in Boden, Sweden. Hive operates data centers in Canada, Sweden, and Iceland, emphasizing the use of green energy for cloud-based cryptocurrency mining. Reserve Bank of India (RBI) Holds CBDC Talks with US, Hong Kong, and Swift for Cross-Border Transactions The Reserve Bank of India (RBI) is in talks with US and Hong Kong regulatory authorities, as well as the Society for Worldwide Interbank Financial Telecommunications (SWIFT), to explore the potential for efficient and cost-effective cross-border settlements utilizing 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.
