How China’s digital currency is leading the race to displace bitcoin and other cryptocurrencies

Ever since 2014, the Chinese government has led the global race to form a central bank digital currency (CBDC) with the creation of the digital yuan. Central banks across the world soon began to play catch-up and develop their own projects behind this digital technology. Seven years later, the Bank for International Settlements (BIS) estimates that 86 per cent of central […]

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Apple previews new software for iPhone, other gadgets

Apple kicked off its second annual all-virtual developer conference with a keynote that outlined new updates to its software for iPhones and other devices. The presentation highlighted more privacy options for paid iCloud accounts and a “Find My” service that helps find errant AirPods, but included no major product announcements. The latest renovations in Apple’s $2 trillion empire come at […]

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Global sting: FBI-encrypted app tricks organized crime

A global sting involving an encrypted communications platform developed by the FBI has sparked raids and arrests around the world, delivering “an unprecedented blow” to crime gangs, law enforcement authorities said Tuesday. Operation Trojan Shield involved police swoops in 16 nations. More than 800 suspects were arrested and more than 32 tons of drugs — cocaine, cannabis, amphetamines and methamphetamines […]

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Pipeline exec to face Congress as US recovers most of ransom

The chief executive of the massive fuel pipeline hit by ransomware last month is expected to detail his company’s response to the cyberattack and to explain his decision to authorize a multimillion-dollar payment when he testifies before Congress this week. Colonial Pipeline CEO Joseph Blount will face the Senate Homeland Security Committee on Tuesday, one day after the Justice Department […]

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France fines Google $268M for unfair online ads treatment

France’s anti-competition watchdog decided Monday to fine Google 220 million euros ($268 million) for abusing its “dominant position” in the online advertising business, an unprecedented move, the body said. Practices used by Google “are particularly serious because they penalize Google’s competitors” in certain markets and publishers of mobile sites and applications, the statement by the Competition Authority said. “The authority […]

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Consumer credit, GameStop earns, consumer prices

A look at some of the key business events and economic indicators upcoming this week: BORROW AND SPEND The Federal Reserve issues its April snapshot of U.S. consumer borrowing Monday. The tally, which excludes mortgages and other loans secured by real estate, is expected to show consumer borrowing increased by $20 billion in April, less than March’s $25.8 billion rise. […]

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El Salvador president wants Bitcoin as legal tender

El Salvador President Nayib Bukele announced in a recorded message played at a Bitcoin conference in Miami that next week he will send proposed legislation to the country’s congress that would make the cryptocurrency legal tender in the Central American nation. The 39-year-old president, who has maintained approval ratings above 90% and made Twitter his preferred way of communicating, characterized […]

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