“Ethereum’s oldest proof-of-work testnet is transitioning to proof-of-stake, with two more to follow “before focus shifts to mainet.” Ropsten will be Ethereum’s first public test network to transition from proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism as part of the blockchain’s “Merge” event.
A new beacon chain has been launched today, and The Merge is expected around June 8th on the network.”
“The business is planning to add 110 employees in tech roles, including engineers and developers with blockchain experience. The expanded headcount will be used to build infrastructure to offer trading of ether. Fidelity Digital Assets has hitherto offered only bitcoin (BTC) support.
It [also] aims to provide faster transactions and 24-hour trading support as well as compliance and tax-reporting tools. Growing its tech team and providing support ether (ETH) support would signal Fidelity’s intent to expand into the crypto industry.”
“The Monetary Authority of Singapore (MAS), the republic’s central bank, is starting a pilot program alongside financial heavyweights DBS Bank, JPMorgan (JPM) and Marketnode to explore use cases of digital assets in tokenization and decentralized finance (DeFi).
The first stage of “Project Guardian” will see the MAS explore DeFi applications in wholesale funding markets through the creation of liquidity pool of tokenized bonds and deposits to carry out borrowing and lending on a public blockchain-based network.
Both DBS and JPMorgan have track records of building digital assets and blockchain technology into their wholesale banking operations. Building on these developments in step with the central bank of a major financial center could provide fresh impetus to the adoption of digital assets and blockchain by mainstream financial institutions.”
See Also: India cooperates with IMF on crypto consultation paper
See Also: Binance to launch Africa crypto awareness tour as adoption ramps up
“First deputy governor of the Russian central bank Ksenia Yudayeva stated Tuesday that the bank is open to using cryptocurrency for international payments, adding that the bank was reconsidering its position on crypto mining as well.
We have changed our position on mining, and also permit the use of cryptocurrency in foreign trade and outside the country.
The bank official’s statement seems to be a concession to legislators preparing a new version of the law “On Digital Currency.” The Finance Ministry unveiled the draft of the law at a discussion hosted by the United Russia Party on May 27. The provision to allow international trade in cryptocurrency is an innovation in the law.”
“The government recommends changing existing legislation to give the Bank of England power to appoint administrators to oversee insolvency arrangements with failed stablecoin issuers.
Regulators across the globe have shifted focus to stablecoins following Terra’s implosion, with the European Commission favoring a large-scale ban of the asset class.”
See Also: Crypto Banking Rules Now Due This Year From Basel Committee
See Also: Terra’s Mirror Protocol Allegedly Suffers New Exploit
The Disrupt 