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Indian Banks Halting Services to Crypto Industry Post RBI Clarification
27.6.2021
Several Indian banks have reportedly halted services to customers dealing in cryptocurrencies despite the central bank, the Reserve Bank of India (RBI), informing them that the banning circular is no longer valid. The latest bank to join the fray is IDFC First Bank. IDFC First Bank has become...
South Africa Bank Blocks Clients From Buying Crypto on Binance, Exchange Rejects Allegations
23.6.2021
A South African bank, Absa, has reportedly blocked use of its credit cards for users buying cryptocurrencies on international exchanges, according to one media report. The claims come after clients of the financial institution reported receiving a text message informing them of the suspension...
Proposed crypto ban legislation reportedly under review by India's government
16.6.2021
Authorities in India are reportedly weighing up options concerning crypto regulations in the country
South Africa Working Group Releases New Position Paper Calling for Regulation of Crypto Asset Providers
13.6.2021
South Africa’s Intergovernmental Fintech Working Group (IFWG) has a released new position paper that calls for the regulation of the country’s cryptocurrency ecosystem. In the document, the IFWG, which is a creation of the South Africa Reserve Bank (SARB), recommends “a staged...
India’s Central Bank RBI Still Has ‘Major Concerns’ About Crypto After Saying Ban No Longer Valid
4.6.2021
The governor of the Reserve Bank of India (RBI), Shaktikanta Das, has clarified the central bank’s position regarding cryptocurrency. His statements followed a notice published by the RBI telling banks that its crypto banking restriction is no longer valid and cannot be cited. RBI Still...
Indian central bank remains anti-crypto, affirming ‘no change’ in its stance
4.6.2021
The Reserve Bank of India's ban on banks' dealings with crypto may be defunct but the institution remains apprehensive of — if not outright hostile to — cryptocurrencies
India’s Central Bank RBI Confirms Crypto Banking Ban ‘No Longer Valid’ — Asks Banks to Stop Quoting It
31.5.2021
Indian central bank, the Reserve Bank of India (RBI), has officially advised banks that its banking ban circular is no longer valid as it was set aside by the country’s supreme court more than one year ago. Despite the supreme court’s ruling, banks have been citing the RBI circular when...
Indian central bank clarifies regulations as local banks shun crypto
31.5.2021
Banks like HDFC and State Bank of India reportedly cautioned customers against crypto, citing the RBI’s quashed crypto circular
Zimbabwean Fintech Lawyer and Proponent Pushes for Crypto Regulation via Private Legislative Bill
28.5.2021
A Zimbabwean fintech lawyer, Prosper Mwedzi, recently initiated a process that seeks to bring recognition and regulation of cryptocurrencies. Under this private member bill procedure, a legislative proposition initiated by private citizens will be debated in the Zimbabwean parliament. If the crypto...
South Africa Reserve Bank Commences Retail CBDC Feasibility Study
27.5.2021
The South African Reserve Bank (SARB) says it has commenced a feasibility study for a general-purpose retail central bank digital currency (CBDC). The study, which the SARB expects to conclude in 2022, will focus on the issuance of a domestic CBDC that can be used by consumers in South Africa...
Federal Reserve Bank President Says Most Cryptocurrencies Are Worthless
27.5.2021
The president of the Federal Reserve Bank of St. Louis, James Bullard, says that most cryptocurrencies are “worthless.” He noted that if “cryptocurrency can facilitate transactions that are difficult to make in conventional currencies, then they will have a purpose and might...
Zimbabwe’s Biggest Bank Looks at Methods to ‘Leverage Cryptocurrencies’
26.5.2021
One of Zimbabwe’s biggest financial institutions, CBZ Holdings says it is looking at ways it could “leverage cryptocurrencies and other emerging digital innovations.” According to the financial institution’s chairperson, Marc Holtzman, CBZ “is open-minded about...
South Africa's central bank begins preliminary study for retail CBDC
25.5.2021
The South African Reserve Bank has begun exploratory studies on central bank digital currencies
Federal Reserve Bank Presidents: Cryptocurrency Sell-off Not a Systematic Concern, Does Not Affect Fed Policy
19.5.2021
Cryptocurrency sell-off is not a systematic concern for the Fed and does not affect Fed’s policies, two Federal Reserve Bank presidents said Wednesday. “We are all quite aware that crypto can be very volatile,” said the president of the Federal Reserve Bank of St. Louis. Crypto...
India’s Central Bank RBI Urges Banks to Cut Ties With Crypto Businesses and Traders: Report
14.5.2021
India’s central bank, the Reserve Bank of India (RBI), has reportedly informally asked banks to cut ties with cryptocurrency exchanges and traders. Some banks in India have limited their exposure to the crypto market and some plan to stop all crypto-related transactions. RBI Asking Banks...
Federal Reserve Bank Paper: DeFi May Cause a Paradigm Shift
6.5.2021
The world is moving towards complete digitization, and measures like DeFi and cryptocurrencies play a big part in it. Ethereum is major crypto, and even the Federal Reserve Bank proved it as well. The institution recently released a paper stating how Ethereum will help the DeFi sector...
‘DeFi may lead to a paradigm shift’ says Federal Reserve Bank paper
5.5.2021
Ethereum has unleashed a wave of financial innovation
Nigeria Stopping the Rejection of Old or Torn USD Notes Underlines Why Crypto Is a Better Reserve Currency
3.5.2021
In early April 2021, the Central Bank of Nigeria (CBN) issued a circular warning Nigerian institutions to stop the practice of rejecting old or lower denomination USD notes. The CBN issued the warning after it became “inundated with complaints from members of the public on the rejection...
Mercurial on crypto: Will India’s latest stance lead to positive regulation?
26.4.2021
Indian officials are switching their stance on crypto, but the country’s regulatory environment may have additional bottlenecks in store
Another South African Company Reveals Plans to List a Crypto ETF on Local Stock Exchange
21.4.2021
Fresh reports from South Africa suggest another local company, Sygnia, is set to apply to the Johannesburg Stock Exchange (JSE) to list a new cryptocurrency exchange-traded fund (ETF). This application will be the second time Sygnia has attempted to list the crypto ETF. A similar application...