Mexico’s digital peso delayed, unclear launch date

[ad_1] Mexico's central bank digital currency (CBDC) development is still in an initial phase, and it is unlikely to be ready for launch by 2024. According to local media reports, Mexico's central bank, known as Banxico, is currently working on legal, administrative, and technological requirements for the peso's digital version. The first of three stages for the proposed launch timeline.In December 2021, the local government announced its plan to introduce a

Digital Currency Group under investigation by U.S. authorities: Report

[ad_1] Crypto conglomerate Digital Currency Group, or DCG, are under investigation by the United States Department of Justice's Eastern District of New York (EDNY) and the Securities and Exchange Commission (SEC), according to a Bloomberg report. The authorities are digging into internal transfers between DCG and its subsidiary crypto lending firm Genesis Global Capital, noted the report citing people familiar with the matter. Prosecutors have already requested interviews and documents from

Bitcoin, Sango Coin and the Central African Republic

[ad_1] In the spring of 2022, the Central African Republic (CAR) became the first African country to adopt Bitcoin (BTC) as a legal tender.As the second country globally to recognize Bitcoin in such a fashion, the CAR followed in El Salvador’s footsteps. El Salvador has since boasted surging tourism numbers, a resilient economy and a healthy amount of free PR since allowing its citizens to make everyday purchases with the

Wyre imposes up to a 90% withdrawal limit for all users

[ad_1] Crypto payment platform Wyre modified its withdrawal policy to limit users from cashing out up to 90% of their assets just days after two former employees allegedly hinted the possibility of a shutdown.On Jan. 7, 2023, Wyre imposed a withdrawal limit on its platform, citing “the best interest of our community.” Following the policy modification, Wyre users can withdraw up to 90% of their crypto funds as the company

Ferrari cuts ties with crypto sponsor ahead of 2023 Formula One season

[ad_1] Scuderia Ferrari, the racing division of luxury carmaker Ferrari, joined the growing list of Formula One racing teams to end partnerships with their cryptocurrency sponsors. Ferrari exited its multi-year partnership deals with Velas Blockchain and chip manufacturing giant Snapdragon, resulting in a cumulative $55 million loss for the Italian team ahead of the 2023 season.The Ferrari-Velas partnership from 2021 — set at $30 million a year — was aimed