Despite the fact that it still hasn't made a final decision on the launch of the “digital shekel,” Israel’s central bank reported that the public feedback on the project is mainly positive. According to Reuters, on Monday, The Bank of Israel summarized the results of the public consultation on its central bank digital currency (CBDC) plans. It has received 33 responses from different sectors, with half of them coming from abroad and 17 from the domestic fintech community. While specifying that the final decision on the project’s fate is yet to be made, it claimed: “All of the responses to …

The Hong Kong Monetary Authority (HKMA) has warned that stablecoins could undermine the Hong Kong dollar in a recently released discussion paper about its retail central bank digital currency, e-HKD. The HKMA today issued a discussion paper, outlining the policy and design issues involved in the introduction of e-HKD, and encourages the public and industry to participate in the consultation and share their views. Find out more: https://t.co/GndjuZ2Pay pic.twitter.com/hRz2noD0Ps — HKMA 香港金融管理局 (@hkmagovhk) April 27, 2022 Many in the crypto industry believe that interest in developing central bank digital currencies (CBDC) has been in response to the rise of private-sector …

OpenSea buys NFT market aggregator Gem In a Monday Twitter post, OpenSea announced it had acquired nonfungible token (NFT) marketplace aggregator Gem for an undisclosed price. A blog post by OpenSea chief executive officer Devin Finzer stated that the company made this move to improve the experience of its more seasoned “pro” users. Gem lets traders buy NFTs across various collections and multiple marketplaces in a single transaction that saves on gas fees. For now, OpenSea is adding popular Gem features such as its collection floor price sweeping tool and rarity-based rankings to its platform. Gem will continue operating independently …

SkyBridge Capital is working on pivoting the majority of its assets under management (AUM) to digital assets, as the sector represents “tremendous growth” for the firm. The hedge fund was founded by former United States politician Anthony Scaramucci in 2005 and first delved into Bitcoin (BTC) in late 2020. The firm also has money deployed in other hedge funds, late-stage private tech companies and real estate, with its total AUM reported being around $7.3 billion. Skybridge now manages a $7 million Bitcoin Fund among others, and has been actively working to get a spot BTC exchange-traded fund (ETF) approved by …

Digital twin nonfungible tokens, or NFTs, aren't just reserved for consumer products anymore. Netherlands-based decentralized carbon credit exchange Coorest and conservation consulting firm PLCnetwork of the Southern Hemisphere teamed up to tokenize individual real-world endangered animals at game reserves and privately owned conservation areas in Africa. These wildlife NFTs enable holders to sponsor an elephant, lion, cheetah or rhino. Profits from the sales will go toward food, shelter and security for the animals they represent. Cointelegraph spoke to William ten Zijthoff, founder and chief executive officer of Coorest, to learn more about combining blockchain and sustainability with wildlife preservation. Coorest …

Elvira Nabiullina, governor of the Bank of Russia, has admitted that Russia’s central bank might have taken a bit too tough a stance on digital assets and should look to reconsider that. On Thursday, the Russian State Duma reappointed Nabiullina as Bank of Russia governor, marking the third time for her to take the post since she started serving in the position back in 2013. At the official Duma session, Nabiullina talked about many measures that Russia has been taking and is planning to adopt in order to help the government mitigate the impact of massive Western sanctions against the …

Voyager Innovations, the firm behind the Philippines' top digital payments app Paymaya, has announced it has achieved unicorn status after a recent round of funding, surpassing a $1 billion valuation. Voyager Innovation announced Tuesday that the new $210 million capital boosted its valuation to $1.4 billion. The company highlighted that the new funds will be used to develop crypto offerings that it recently added to its flagship digital payments app PayMaya. According to the news release, the recent financing round was led by SIG Venture Capital. It included well-known firms such as KKR, First Pacific Co., Tencent Holdings Limited and …

Digital asset management firm Grayscale, has added three new cryptocurrency assets across three main investment funds, while removing two other assets from its Decentralized Finance Fund as part of this year’s first quarterly rebalance. Grayscale removed tokens from crypto-derivatives decentralized exchange Synthetix (SNX), and decentralized exchange SushiSwap (SUSHI), from its DeFi fund after the two crypto assets failed to meet the required minimum market capitalization. No other cryptocurrencies were removed during the rebalancing. Grayscale’s DeFi fund, which was launched in July last year, currently holds approximately $8 million in assets. The digital assets remaining in the DeFi fund after the …

U.S. companies that safeguard their clients’ crypto-assets received new accounting guidance Thursday in the form of a Securities and Exchange Commission, or SEC, Staff Accounting Bulletin. The guidance got a strong response from SEC commissioner Hester Peirce, a steadfast crypto advocate. Staff Accounting Bulletin 121 noted the high technological, legal and regulatory risks associated with the custody of crypto-assets, relative to traditional assets. Those risks impact the operations and financial condition of companies such as Coinbase, PayPal and Robinhood, which safeguard users’ crypto-assets and allow the users to trade them on their platforms. For this reason, companies are advised to …

The Office of Science and Technology Policy (OSTP), an Executive Office of the President of the United States, commenced a study to identify the scope for offsetting energy use and climate changes related to digital assets. On March 9, United States President Joe Biden signed an executive order, directing various federal agencies to examine implications of digital assets on six key areas — consumer and investor protection, financial stability, financial inclusion, responsible innovation, the United States’ global financial leadership and combating illicit financial activity. As a part of the initiative, the OSTP invited the general public and other stakeholders to …

A statement from U.S. Treasury Secretary Janet Yellen on President Joe Biden’s executive order regarding digital assets calls for efforts to support innovation while addressing risk in the industry. Yellen’s statement was released a day early apparently by error and quickly deleted, but was captured on a web archive. It shares early insights into the details of President Biden’s soon to be released executive order. The order will call for “a coordinated and comprehensive approach to digital asset policy.” Yellen’s statement said that the executive order could “result in substantial benefits for the nation, consumers, and businesses.” “It will also …

The rise of the Metaverse has resulted in an entirely new digital economy, one defined by virtual experiences and interactions. In turn, metaverse ecosystems consisting of avatars are also emerging, allowing individuals to express themselves through digital customizable 3D characters. This idea was recently broadcasted to the mainstream when Facebook’s parent company, Meta, introduced a series of inclusive avatars. While the Metaverse may sound futuristic, recent findings from technology research and consulting company Gartner predict that 25% of people will have spent at least one hour per day in the Metaverse by 2026. Gartner vice president Marty Resnick has also …