Cryptocurrency
VeChain’s already being tested out by Walmart and PwC in China for tracking goods like pork and wine from farm to fork. Supposedly the Chinese government itself is even using it for their national carbon trading platform! https://beyondsunshine.com/ Not bad for a new crypto kid on the block.
Then we have Hong Kong’s crypto-friendly makeover. With licenses opening up for virtual asset companies, HK hopes to become Asia’s premier crypto hub. Attracting big global exchanges like Binance drives home that ambition. If crypto flies high in free-wheeling HK despite Beijing’s watchful eye, tighter mainland restrictions may relax sooner than we think.
China’s Digital Yuan, or e-CNY, represents a significant advancement in central bank digital currencies (CBDCs) introduced by the People’s Bank of China (PBOC). By early 2022, over 261 million digital yuan wallets had been established, highlighting substantial adoption. Unlike decentralized cryptocurrencies such as Bitcoin, the digital yuan is centrally controlled, offering stability and enhancing transaction efficiency. This Chinese cryptocurrency is designed to improve financial inclusion, streamline payments, and strengthen anti-money laundering measures.
Cryptocurrency wallets
Sending and receiving cryptocurrency is very easy using these applications. You can send or receive cryptocurrency from your wallet using various methods. Typically, you enter the recipient’s wallet address, choose an amount to send, sign the transaction using your private key, add an amount to pay the transaction fee, and send it.
You can make a cryptocurrency transaction on your computer or device by plugging in the hardware wallet. Most of them can sign cryptocurrency transactions automatically without requiring you to enter the key, circumventing a hacker’s ability to log your keypresses or record your screen.
So, you can have a noncustodial software hot wallet, a noncustodial hardware cold or hot wallet, or a custodial hardware cold wallet. These are the most common types, but you may also encounter other combinations.
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Crypto wallets provide a way to protect secret information that gives you control over your digital assets. This is not something you want to leave to chance; if you lose access to these “private keys,” you may never get your cryptocurrency back.
Cryptocurrencies
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As the popularity and demand for online currencies has increased since the inception of bitcoin in 2009, so have concerns that such an unregulated person to person global economy that cryptocurrencies offer may become a threat to society. Concerns abound that altcoins may become tools for anonymous web criminals.
On 17 February 2022, the Department of Justice named Eun Young Choi as the first director of a National Cryptocurrency Enforcement Team to help identify and deal with misuse of cryptocurrencies and other digital assets.
An initial coin offering (ICO) is a controversial means of raising funds for a new cryptocurrency venture. An ICO may be used by startups with the intention of avoiding regulation. However, securities regulators in many jurisdictions, including in the U.S. and Canada, have indicated that if a coin or token is an “investment contract” (e.g., under the Howey test, i.e., an investment of money with a reasonable expectation of profit based significantly on the entrepreneurial or managerial efforts of others), it is a security and is subject to securities regulation. In an ICO campaign, a percentage of the cryptocurrency (usually in the form of “tokens”) is sold to early backers of the project in exchange for legal tender or other cryptocurrencies, often bitcoin or Ether.
The total crypto market volume over the last 24 hours is $198.41B, which makes a 1.88% decrease. The total volume in DeFi is currently $14.5B, 7.31% of the total crypto market 24-hour volume. The volume of all stable coins is now $177.59B, which is 89.50% of the total crypto market 24-hour volume.
Founded in 2009, Bitcoin was the first cryptocurrency and is still the most commonly traded. The currency was developed by Satoshi Nakamoto – widely believed to be a pseudonym for an individual or group of people whose precise identity remains unknown.
