Digital Rupee Trial, No Tech to Implement Crypto Travel Rule + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Source: AdobeStock / mrinal

CBDC news

  • The Reserve Bank of India (RBI) could commence preliminary central bank digital currency (CBDC) trials before the end of the year, the bank’s governor Shaktikanta Das told CNBC. He has added that the central bank was “being extremely careful” in its handling of a potential digital rupee even as its counterparts around the world are exploring their own sovereign digital currencies.

Regulation news

  • The Australian Department of Home Affairs said it agrees with submissions from industry that the government currently does not have the technological capability for implementing a travel rule for cryptocurrencies, according to ZDNet. A travel rule would require financial institutions to pass certain information onto another financial institution to provide more transparency regarding cryptocurrency movement, but Home Affairs assistant secretary Daniel Mossop stated that, “We are not at the point where, globally, there is such a technological solution.”
  • Officials from the Australian Federal Police and Australian Criminal Intelligence Commission will be able to target suspected criminals online thanks to the 'Identify and Disrupt Bill' that passed through the Australian Senate, the InnovationAus reported. The new warrants include authorizing police to hack the personal computers and networks of suspected criminals, seize control of their online accounts and identities, and disrupt their data.

Adoption news

  • Meme cryptocurrency DogeCola has announced it has launched its non-alcoholic beverage. In addition, the DogeCola community will make a contribution through regular donations, to fight against plastic pollution, described as “a serious issue of global concern which requires an urgent and international response involving all relevant actors at different levels.”

DeFi news

  • Chain-agnostic protocol AllianceBlock has today unveiled a new technical roadmap. Per the press release, the roadmap outlines the upcoming milestones that will bring AllianceBlock’s vision of bridging the gap between decentralized finance (DeFi) and traditional finance (TradFi) closer by remedying issues that exist in both spheres and linking the two worlds of finance together.
  • Blockchain lending company Algofi has announced the launch of a decentralized lending market on the Algorand (ALGO) blockchain, as the company aims to become the first crypto-native bank to bridge the gap between traditional and decentralized finance, they said. The initial lending protocol will launch for users everywhere in Q4 of 2021, with additional fiat on- and off-ramp solutions, and more, forthcoming.

Exchanges news

  • Digital asset exchange has launched a cloud mining offering, "bringing the benefits of traditional cryptocurrency mining without the massive costs involved with setting up a mining operation," they said. Packages start at USD 47 for a Starter mining contract, and users can opt to choose one of several different cloud mining offerings based on their budget, they added.

NFT news

  • Gamified NFT project that financially supports mental health charities Piñazza has announced it has launched the first series of its two-part non-fungible token (NFT) drop called the Piñazza Piñas. Everyone who mints a Piña will receive a free future airdrop of a Piñazza Pizza NFT, so owners get two opportunities to receive a drop that they can later trade with the community, the team said.

Career news

  • Crypto exchange Coinbase has appointed Kate Rouch, formerly Facebook's Global Head of Brand and Product Marketing, as their Chief Marketing Officer. They have added that, “Kate’s experience at a company with the scale and impact of Facebook will be invaluable as we continue building our brand, growing our teams and working to bring millions more people into the cryptoeconomy.”
  • DRIFE, decentralised ride-hailing platform that allows passengers to pay in crypto, has announced Siddharth Bhatia as its new Chief Scientist. Bhatia previously worked with Google Research, Amazon, and Microsoft Research, and will now work to help enhance the technology powering the DRIFE platform, said the press release.