UK’s government-backed Millicent Labs demos a retail full-reserve digital currency
A sandbox test of a retail full-reserve digital currency (FRDC) has been completed in the United Kingdom, distributed ledger fintech company Millicent Labs announced on Thursday. The issuer says the currency avoids pitfalls of central bank digital currency and stablecoins while bridging blockchain and traditional financial technology.
WEF introduces cyber resilience framework, index to increase organizational security
The World Economic Forum (WEF) released a white paper on cyber resilience Thursday in which it introduces the organization’s Cyber Resilience Framework (CRF) and Cyber Resilience Index (CRI). The document, prepared in collaboration with professional services company Accenture, followed the WEF’s Global Cybersecurity Outlook.
CleanSpark scoops up 1K+ mining rigs at ‘substantially discounted price’
Crypto mining firm CleanSpark said it had acquired 1,061 Whatsminer M30S rigs currently mining Bitcoin (BTC) at the Coinmint facility in New York, whose space the company shares with Riot Blockchain. The mining firm said it had purchased the machines for far less of price than that “just a few months ago.
Circle discloses full breakdown of $55.7B USDC reserves
Circle Internet Financial has released a full breakdown of its USD Coin (USDC) holdings for the first time — a move designed to offer transparency and instill greater trust in the stablecoin issuer. As of June 30, Circle’s $55.7 billion reserves were comprised of $42.12 billion in short-term United States Treasuries and $13.58 billion in cash held at regulated financial institutions in the country, the company disclosed.
UK financial watchdog exec hints at importance of international collaboration on crypto regulation
In a speech for the Peterson Institute for International Economics on Thursday, FCA chief executive Nikhil Rathi said the U.S. and the U.K. will “deepen ties” on crypto regulation following discussions among regulators at the Financial Innovation Partnership on June 29. In addition, its government has coordinated with the U.S. and Singapore to launch an International Organization of Securities task force aimed at “decentralised finance and crypto market integrity risks.”
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