Two New Independent Directors Enhance Extensive Insurance, Finance, Data Privacy and Security, Legal, and Governance Expertise on the Board To File Preliminary Proxy Statement That Includes Proposals to Further Enhance Shareholder Rights BOSTON–(BUSINESS WIRE)–Safety Insurance Group, Inc. (NASDAQ: SAFT) (“Safety” or the “Company”) announced today the appointments of John D. Farina and Deborah E. Gray […]
Korea-based gaming developer and publisher Krafton announced its new collaboration with blockchain platform in a concerted effort to develop Play-to-Earn blockchain and NFT games. Krafton is the name behind popular game titles such as PUBG: Battlegrounds, Thunder Tier One, Elyon, and many more. According to the announcement on March 23, Krafton and Solana Labs signed [...]
The Science & Technology Directorate (R&D advisor of U.S. Dept of Homeland Security) provides an-depth study into the ongoing rollout of 5G networking technologies and the early development of the 6G. The report details relevant implications—opportunities, risks, and uncertainties—for the homeland and stakeholders across industry.
The UK has been ranked 5th out of 15 countries in its deployment of low-carbon hydrogen as a fuel source, according to a new analysis of countries that have branded themselves as potential leaders in the new hydrogen economy. The study was carried out by energy consultancy Cornwall Insight. The low-carbon hydrogen index explores countries […]
Leapfox, a new UK-based gaming and esports agency set up to provide commercial insight and guidance, has announced its launch today.
Founded by former Excel Esports head of partnerships Patrick Collins, Leapfox aims to work with brands and agencies to navigate the industry and with rights holders to help them maximise revenues.
Patrick has more than 14 years of experience in commercial development, strategy and partnerships, having worked across traditional sports with positions at Premier League clubs such as Tottenham Hotspur and Everton.
Federal Reserve Chairman Jerome Powell emphasized on Wednesday that technology transformation is here to stay in the financial sector and that new regulations will be required. Powell revealed some insight into how the United States would govern the market during a presentation at the Bank of International Settlements Innovation Summit on central bank digital currencies. The digital age was not taken into consideration when establishing our current regulatory structures, the Fed official said. “There will be revisions to current laws and regulations, as well as the creation of wholly new rules and structure, if central banks, stablecoins, and digital currencies are to be implemented,” he said during a roundtable discussion on CBDCs at the BISI Summit. Is There A Threat? Powell noted that emerging forms of digital money, like cryptocurrencies and stablecoins, pose threats to the US financial system and will necessitate the adoption of additional consumer protection measures. Powell reaffirmed his position that cryptocurrency should adhere to the “same activity, same regulation” premise. He proposed regulating stablecoin issuers, such as banks, in October 2021. “Stablecoins function similarly to money market funds. They’re similar to bank deposits… and it is reasonable for them to be controlled similarly, same activity, same regulation,” he concluded. Powell Says DeFi Can Improve Finance Sector Despite this, the Fed chairman acknowledged that distributed technology and DeFi have the potential to improve the payment system’s efficiency and foster a more competitive financial sector. This is an impressive recognition from the director of one of the country’s premier financial institutions. Other agencies and their personnel have embraced crypto and blockchain technology as well, albeit they all appear to advocate for some level of regulation. Crypto total market cap at $1.94 trillion on the daily chart | Source: TradingView.com Suggested Reading | Fiat – Not Crypto – Still The Top Choice For Financial Crimes, US Treasury Says Stablecoins are a type of cryptocurrency that are typically backed by the dollar or a commodity such as precious metal. CBDCs are digital representations of dollars or other fiat currencies that governments issue. The Fed is exdigital currencies but has not yet decided whether to issue them. In January, it published a study on stablecoins. Biden’s Executive Order US President Joe Biden signed an executive order earlier this month directing the Treasury Department and other federal agencies to conduct a study on the impact of cryptocurrency on economic stability and national security. Biden’s directive comes as many Democratic legislators, notably Massachusetts’ Elizabeth Warren, have expressed worry that cryptocurrency could be used to circumvent US sanctions against Russia. As part of the executive mandate, the Treasury is leading a report on a CBDC in consultation with the Departments of Justice, Commerce, and State, as well as the Office of Management and Budget, Homeland Security, and the Director of National Intelligence, to determine whether the US should pursue a digital dollar. Suggested Reading | Bitcoin Breaks Past The $40,000 Barrier Again – Can It Sustain The Momentum? Featured image from CryptoSlate, chart from TradingView.com