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The launch of the first prototype of the new form of Russia’s national currency, the digital ruble, could be just several months away, the head of the State Duma Committee on the Financial Market, Anatoly Aksakov, has told RT.

“The digital ruble is currently the highest form of money,” the official said in an interview to RT. He said that the central bank is set to publish the roadmap for development of the digital currency soon and its prototype should be ready by autumn.

“The tests of this form of money may start at the end of 2021 or at the beginning of 2022,” he went on, adding that the digital currency may be used for domestic transactions in two to three years.

US payments firm Visa announced Monday that it will enable the use of USD Coin to settle payment transactions on its platform.

Visa piloted the payment option via payment platform Crypto.com, and plans to allow more partners the same route later this year.

“Crypto-native fintechs want partners who understand their business and the complexities of digital currency form factors,” Jack Forestell, Visa’s executive vice president and chief product officer, said in a statement.

Bitcoin as payment hasn’t taken off in the decade-plus existence of the digital currency.

The cryptomining protections have been bypassed using Nvidia’s own drivers.

Nvidia’s latest beta drivers unlock RTX 3060 Ethereum cryptocurrency mining. This is likely a mistake from Nvidia, as the company was trying to nerf mining performance with the RTX 3060.

The proposed bill would ban trading, mining, and even holding cryptocurrencies.

A team of researchers has created software to detect illegal mining of cryptocurrency on computers.

Advocates contend central bank digital currencies can make cross-border transactions easier, promote financial inclusion and provide payment system stability. There are also privacy and surveillance risks with government-issued digital currencies. And in times of economic uncertainty, people may be more likely to pull their funds from commercial banks, accelerating a bank run.

Intense interest in cryptocurrencies and the Covid-19 pandemic have sparked debate among central banks on whether they should issue digital currencies of their own.

China has been in the lead in developing its own digital currency. It’s been working on the initiative since 2014. Chinese central bank officials have already conducted massive trials in major cities including Shenzhen, Chengdu and Hangzhou.

Continue reading “Central banks around the world want to get into digital currencies—here’s why” »

Billionaire CEO Elon Musk said on Saturday the price of bitcoin and ethereum seemed high, at a time when the cryptocurrencies have hit record highs, with bitcoin crossing the $1 trillion market-capitalization threshold.

The price of bitcoin crossed another major milestone on Friday.