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Central bank of Bahrain trials JPMorgan blockchain and token

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Bahrain’s central bank initially announced the JPM Coin trial in May 2021. Bahrain is the latest nation to explore blockchain technology by American investment bank JPMorgan, with the country’s central bank trialing JPMorgan’s proprietary digital currency. The Central Bank of Bahrain (CBB) has successfully completed a digital payment test in collaboration with JPMorgan’s blockchain and cryptocurrency unit Onyx, according to an official announcement published on Jan. 6. The trial involved two other major institutions, Manama-based international bank, Bank ABC, and Bahrain’s national aluminum smelter Aluminium Bahrain, also known as Alba. The test enabled Bank ABC to settle real-time payments to Alba’s counterparts in the United States using the JPM Coin, a blockchain-based payment system and stablecoin pegged to the U.S. dollar. According to the announcement, the CBB was responsible for supervising the trial. CBB governor Rasheed Al Maraj said that the trial has been crucial for ...
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UAE regulators pave way for crypto and blockchain adoption, says legal expert

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Legal expert Kokila Alagh shared insights regarding crypto and blockchain regulations in the United Arab Emirates. While many countries are inclined to simply ban the use of Bitcoin (BTC) and virtual assets, regulators in the United Arab Emirates are taking a different approach.  The country has been consistently enacting its vision of becoming a blockchain capital by providing frameworks to guide crypto businesses on how to operate in accordance with the laws. Jurisdictions in the country are divided between the mainland, where the regulator is the Securities and Commodities Authority (SCA), and free zones i.e. geographically-specified areas within the UAE with relaxed taxation and regulatory regimes.  Such free zones include the Dubai International Financial Centre (DIFC), which is regulated by the Dubai Financial Services Authority (DFSA), Abu Dhabi Global Markets (ADGM) which is regulated by the Financial Services Regulatory Authority (FSRA), and the Dubai Multi Comm...
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German neobank N26 to launch crypto trading later this year

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N26 co-founder says rushing for a global expansion has caused N26 to drop behind in crypto and equities trading. German neobank N26, one of the biggest European fintechs with over $9 billion in valuation, is finally ready to tackle crypto and equities trading after striving for a global expansion. Despite being an early player in the financial technology boom across Europe, the Berlin-based online bank N26’s global ambitions induced a setback in its diversification of services, N26 co-founder and co-CEO Max Tayenthal said in an FT interview. After exiting two critical fintech markets, the United States and the United Kingdom, N26 plans to “sharpen its focus on its European business” by introducing new products and services to its 7 million customers. According to Tayenthal, who admitted that the online bank needs to expand its product universe, N26 aims to launch a crypto trading business in 2022, followed by an equities brokerage, instead of “putting flags in new markets.” The ...
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Binance CEO CZ richest crypto billionaire at $96B: Bloomberg

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Changpeng Zhao's net worth overtook Asia’s richest billionaire Mukesh Ambani despite Bloomberg excluding his personal crypto holdings such as BTC and the exchange’s in-house BNB tokens. Changpeng Zhao, the CEO of Binance, tops the list of richest crypto billionaires with an estimated net worth of $96 billion. According to Bloomberg CZ ranks 11th among the world’s richest people as Binance retains its position as the biggest crypto exchange in terms of trading volume. CZ, the 44-year-old crypto entrepreneur, overtook Asia’s richest billionaire Mukesh Ambani despite Bloomberg excluding his personal crypto holdings such as Bitcoin ( BTC ) and the exchange’s in-house Binance Coin ( BNB ) tokens. The industry is growing. — CZ Binance (@cz_binance) October 26, 2021 According to Bloomberg’s estimation, CZ stands just behind Oracle co-founder Larry Ellison, whose net worth currently leads by roughly $11 billion. While this was the first time Bloomberg estimated CZ’s fortune, Bina...
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'Most bullish macro backdrop in 75 years' — 5 things to watch in Bitcoin this week

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Can 2022 still turn out to be a bull year? Not many believe so, but short-term volatility should pass nonetheless, analysts say this week. Bitcoin ( BTC ) starts a new week in a strange place — one which is eerily similar to where it was this time last year. After what various sources have described as an entire twelve months of “consolidation,” BTC/USD is around $42,000 — almost exactly where it was in week two of January 2021. The ups and downs in between have been significant, but essentially, Bitcoin remains in the midst of a now familiar range. The outlook varies depending on the perspective — some believe that new all-time highs are more than possible this year, while others are calling for many more consolidatory months. With crypto sentiment at some of its lowest levels in history, Cointelegraph takes a look at what could change the status quo on shorter timeframes in the coming days. Will $40,700 hold? Bitcoin saw a trying weekend as the latest in a series of abrupt do...
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Kosovo police seize 300 crypto mining machines amid electricity shortages

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The country’s Minister for Economy tweeted that the seizure of crypto mining machines will save “tens of thousands of Euros per month,” providing “energy for hundreds of Kosovar families.” The police in Kosovo have ramped up their efforts to crack down on crypto miners in the country, confiscating more than 300 mining machines on Jan. 8 alone. An announcement issued by the Kosovo police on Jan. 8 revealed that it had seized 272 “Antminer” Bitcoin mining machines in the municipality of Leposavic, and another 39 mining machines near Prishtina. The Kosovo Police confiscated 272 “Antminer” crypto mining machines in Leposavic on Jan 8. Source: Kosovo Police Meanwhile, the police also stopped a driver carrying 6 crypto mining machines with 42 graphics cards (GPUs) near Druar, in Vushtrri. The driver has since been interviewed and released. The Minister for Economy Artane Rizvanolli tweeted her support for the Kosovo police, writing: “Tens of thousands of Euros per month of taxpay...
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Disney patents technology for a theme park Metaverse

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The multinational entertainment giant was approved for a “virtual-world simulator” patent during the last week of December 2021. Disney has been approved for a patent that would create personalized interactive attractions for theme park visitors. The technology would facilitate headset-free augmented reality (AR) attractions at Disney theme parks. The tech would work by tracking visitors using their mobile phones, and generating and projecting personalized 3D effects onto nearby physical spaces, walls, and objects in the park. The entertainment giant was approved for a “virtual-world simulator in a real-world venue,” patent on Dec. 28, 2021. It was originally filed to the United States Patent and Trademark Office in July 2020. The “ Metaverse ” has largely been imagined as existing on the internet, accessed using virtual reality (VR) or AR headsets. However, the technology proposed by Disney would bring the Metaverse to the physical world. This is not the first time Disney has i...
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