Overview page represent trading in all U.S. Indexes: Index quotes may be real-time or delayed as per exchange requirements refer to time stamps for information on any delays. Copyright © FactSet Research Systems Inc. Fundamental company data and analyst estimates provided by FactSet. International stock quotes are delayed as per exchange requirements. stock quotes reflect trades reported through Nasdaq only comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. This development aligns with China’s 5-year plan for “National Economic and Social Development and Vision 2035 of the People’s Republic of China,” which includes a 2025 deadline for certain technological developments.Stocks: Real-time U.S. The public has until April 28 to offer their input on the draft, and the government plans to provide an update on its recommendations for blockchain and distributed ledger technology standards system later in 2023. The ministry said it is “now openly soliciting opinions from all walks of life,” and provided a feedback form where citizens can share their opinions. “In order to fully implement the spirit of General Secretary Xi Jinping's important instructions and achieve the long-term goal of the adoption of the ‘Guiding opinions on the application of blockchain technology and industrial development’, we organized relevant units to compile and complete the ‘Blockchain and Distributed Accounting Guidelines for the Construction of Technical Standards System (2023 Edition),” the announcement said. On Tuesday, the Ministry of Industry and Information Technology, China’s regulator of the fintech industry, published a draft copy of its guidelines on the ministry’s website, indicating that it intends to focus on blockchain development as part of its five-year National Economic and Social Development plan. government makes moves to clamp down on the crypto industry after years of non-regulation, officials in China have begun to adopt a more welcoming approach to blockchain technology despite its ongoing ban on cryptocurrencies. 'Japan Open Chain' will see three large banks test stablecoin paymentsĬhina moves to establish blockchain standardsĪs the U.S. Progmat is also a platform that currently has a utility token in the works, and the development team has said that native bank-issued stablecoins on Progmat could eventually be used as settlement assets for security tokens and to pay for NFTs and crypto asset transactions. The Progmat Coin was first revealed in 2022 as a way to streamline the settlement process. Japan previously announced that it intends to implement a bill on stablecoins in 2023, which would allow banks to issue stablecoins. Once the project establishes the framework for interbank transfers, future development efforts will focus on cross-border remittances and will involve foreign central bank digital currencies (CBDCs). “This will result in a wide variety of stablecoins and smooth mutual transfers and exchanges between regional digital currencies that will be issued by various banks and other countries, and will be able to streamline interbank, business-to-business and personal remittances,” the report said. The ultimate goal of the project is to help improve settlement times, reduce the associated fees, and enable interoperability between Progmat/Corda-based currencies and Iroha ones, initially targeting those used in Japan. The trio will test out the functionality of Progmat Coin, which is intended to be used by local banks. The so-called “trust alliance” was formed on Tuesday and will use the permissioned Hyberledger Iroha blockchain network as its base of development. (Kitco News) - A group of Japanese companies, including Mitsubishi UFJ Financial Group – Japan’s largest bank – have joined forces to work on bringing interoperability to the Progmat Coin, a yen-backed stablecoin.Īccording to a report from PR Times, Mitsubishi UFJ is working with Datachain and Solamitsu “to realize a smooth mutual transfer and exchange between a wide variety of stablecoins to be issued domestically.” Receive a comprehensive recap of the day's top stories directly to your inbox. Get all the essential market news and expert opinions in one place with our daily newsletter.
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