“In the financial market fluctuations, XRP’s recent price movements have caught attention. A U.S. Judge’s favorable decision caused a price surge, but a decrease afterwards hinted at potential lack of investor confidence. Additionally, Ripple’s Asia Pacific subsidiary now has a Major Payment Institution license for digital payment tokens in Singapore, contributing to further operational expansion.”
Search Results for: NBG
Exploring Georgia’s CBDC Initiative: Promises, Concerns and the Future of Digital Currency
The National Bank of Georgia (NBG) is intensifying its efforts on a digital lari central bank digital currency (CBDC) and conducting a live pilot project involving nine firms including Ripple Labs. The envisioned CBDC design includes features like programmable money, asset tokenization, agricultural insurance provision, and real estate transaction automation. Despite potential concerns around monetary freedom, the project symbolizes the promising future of blockchain technology.
Georgia’s Crypto Surveillance: Preventing Money Laundering or Stifling Innovation?
Georgia plans to commence mandatory supervision of virtual asset service providers (VASPs) starting Sept. 1, 2023, to prevent money laundering and comply with sanctions. Alongside VASP supervision, foreign bank account restrictions will be implemented to support Georgia’s economic stability. The country also prepares to approve cryptocurrency regulations, aiming to establish itself as a global crypto hub.