COIN BUREAU NEWSFLASH! – (08/10/22) Here are some of today’s m | Coin Bureau Insider
COIN BUREAU NEWSFLASH! – (08/10/22)
Here are some of today’s most important headlines:
India’s Central Bank To Launch Digital Rupee Pilot
The Reserve Bank of India, India’s central bank, reportedly released a 50-page CBDC concept note for the Digital Rupee yesterday. The concept note outlined the proposed features and reasoning behind the development of its central bank digital currency. RBI also stated that it will launch a pilot Digital Rupee program “soon.”
The concept note makes a distinction between retail and wholesale use cases for customers and bank-to-bank transfers and argues that both may be implemented. It also analyses other issuance models, including one in which the central bank would issue a wholesale CBDC based on accounts, while a third-party intermediary would administer the token-based consumer CBDC.
https://www.theblock.co/post/175519/indias-central-bank-to-launch-digital-rupee-pilot
Luna Foundation Guard: Distribution of Assets Is 'Not Possible at This Time'
Months after the Terra-LUNA crash, affected users are yet to receive the promised compensation. Yesterday, the Luna Foundation Guard (LFG), a fund devoted to the Terra ecosystem, stated that it was unable to give a schedule for the distribution of assets to users.
It cited “ongoing and threatened litigation” for its inability to distribute its remaining assets to UST users starting with the smallest HODLers. Prior to the market decline in May, the fund's reserves included more than $4 billion in assets; at the time of publication, this sum had fallen to about $105 million.
LFG stated,
“Distribution is not possible at this time. While these matters are outstanding, there can be no timeline established for resolution [...] We will not stop advocating for our ability to follow through on these initial plans, and those waiting will be the first to know of new developments.”
https://cointelegraph.com/news/distribution-of-assets-is-not-possible-at-this-time-says-luna-foundation-guard
Mt. Gox Creditors Need to Register with Exchanges By Next Year To Receive Lost Crypto
According to an announcement from Mt. Gox trustee Nobuaki Kobayashi, Mt. Gox creditors will have until Jan. 10, 2023, to register with the ‘MTGOX Online Rehabilitation Claim Filing System’ and create accounts on crypto exchanges to receive disbursements for their claims.
The memo further reads,
“If you do not complete the necessary Selection and Registration, you will not be able to receive any of the Repayments below, and you will need to bring the required documents to the MTGOX Co., Ltd. head office or other place designated by the Rehabilitation Trustee and receive Repayment in Japanese yen. If you are unable to receive such Repayment, the Repayment amount will be deposited with the Legal Affairs Bureau.”
https://www.theblock.co/post/175202/mt-gox-creditors-need-to-register-with-exchanges-next-year-to-receive-lost-crypto
Crypto Exchange “Huobi Global” to be Acquired by Hong Kong-based “About Capital”
According to a recent announcement by crypto exchange Huobi Global, a majority stake in the exchange is being purchased by Hong Kong-based investment company About Capital Management's M&A fund. The announcement stated that the exchange is plotting an international expansion and will receive an “injection of sufficient capital in margin and risk provision fund” under the new ownership.
https://www.coindesk.com/business/2022/10/07/crypto-exchange-huobi-global-to-be-acquired-by-about-capital/
