Cryptocurrency Daily Thefoxposts.com

1. Indian Court Bars Police from Freezing Entire Bank Accounts in Crypto Fraud Investigations link The Madras High Court in India has ruled that police cannot freeze an entire bank account during a financial fraud investigation, but only the amount directly related to the fraud. This ruling came in response to a case where accounts were frozen as part of a cryptocurrency investigation. Justice G. Jayachandran emphasized that freezing an entire account can deprive individuals of their livelihood and financial stability. He noted that account holders are often unaware of the reason for the freeze, and by the time they find out, their routine financial and business transactions have already suffered significant harm. 2. The Mainland of China’s Crypto News This Week 2.1 Cryptocurrency Dispute Rejected by Court in Hunan Following Buyer’s Lawsuit link In this case, an individual named Zhou sought assistance from his friend Dai to purchase BZZ, a type of cryptocurrency, for investment purpose...

Japanese fintech firm, Soramitsu, is developing a cross-border payment system in Asia, utilizing CBDCs and blockchain. Soramitsu, a Japanese fintech firm, is working on developing a cross-border payment framework for Asian countries, incorporating the central bank digital currency (CBDC) of Cambodia. This CBDC is part of an evolving international transaction network in the region. Kazumasa Miyazawa, President of SORAMITSU in Japan, offered valuable insights at the @WebXConference in Tokyo during @Hyperledger Workshop on the topic: №CBDC, cross-border money transfers & #Iroha's capabilities. Check our photo highlights from the session. pic.twitter.com/UGPLrgUzJ4 — ソラミツ SORAMITSU | 7 YEARS 2016-2023 (@soramitsu_co) July 27, 2023 Cambodia’s CBDC, Bakong, and the Digital Lao Kip from Laos are two Asian CBDCs that Soramitsu has used. Bakong’s implementation in digital payments can be observed in its QR code-based transactions that reach countries like Ma...