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Ukraine Central Bank Limits Cash Withdrawals Amid Russian Assault
24.2.2022
The central bank of Ukraine has capped withdrawals of cash in national fiat and banned those in foreign currency. The monetary authority says the measures aim to ensure the functioning of the nation’s financial system under the martial law introduced in response to Russia’s military...
Banning Crypto Is Like Banning Internet in Russia, Finance Minister Says Amid Differences With Central Bank
17.2.2022
It’s impossible to ban cryptocurrencies in Russia, the country’s minister of finance has stated in his first comments on his department’s latest disagreements with the Russian monetary authority. The two institutions are reportedly failing to reach consensus on crypto...
Bank of Russia Reports First Successful Digital Ruble Transfers Between Users
16.2.2022
Testing of the digital ruble has started in Russia with the country’s central bank announcing the first complete transactions between individual wallets. The monetary authority, a staunch opponent of cryptocurrencies, says its digital currency will create new opportunities for citizens...
IMF: Crypto Is No Match for Well-Designed Central Bank Digital Currencies
14.2.2022
The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, says that crypto assets and stablecoins are no match for well-designed central bank digital currencies (CBDCs). “If CBDCs are designed prudently, they can potentially offer more resilience, more safety...
'One currency change every generation,' how monetary skepticism spearheaded cryptocurrency adoption in Czechia
10.2.2022
"Since the end of the 19th century, there have been seven distinct currencies in the region that is now Czechia," says SatoshiLabs' in-house economist Josef Tětek
Report: Lebanon Planning to Devalue Currency by 93%, Depositors to Lose $38 Billion
9.2.2022
The Lebanese government is reportedly planning to devalue the local currency by up to 93% in a desperate bid to receive funding from the International Monetary Fund (IMF). As part of the plan, a major portion of foreign currency deposits in the banking system will be converted into local currency...
El Salvador Rejects IMF Call to Abandon Bitcoin as Legal Tender
2.2.2022
El Salvador has rejected the recommendation by the International Monetary Fund (IMF) to drop bitcoin as legal tender. The country’s finance minister reportedly “angrily” said, “No international organization is going to make us do anything, anything at all.”...
Salvadoran President Nayib Bukele Expects Bitcoin to Experience a ‘Gigantic Price Increase’
31.1.2022
El Salvador’s president, Nayib Bukele, believes that it’s just a matter of time before bitcoin sees a “gigantic price increase.” Bukele stressed on Twitter that bitcoin is extremely scarce and there’s not enough bitcoin in the world for all today’s...
Ark Invest Expects Bitcoin to Exceed $1 Million by 2030 — Says BTC Could Transform Monetary History
31.1.2022
Ark Investment Management (Ark Invest) has predicted that the price of bitcoin could surpass $1 million per coin by 2030. “Our research suggests that bitcoin has the potential to transform monetary history by providing financial freedom and empowerment in a fair, global, and distributed...
IMF Tells El Salvador: Costs of Making Bitcoin Legal Tender Exceed Potential Benefits
30.1.2022
The International Monetary Fund (IMF) has told El Salvador that the costs of implementing the country’s Bitcoin law, which makes the cryptocurrency legal tender, exceed the potential benefits. The IMF has also urged El Salvador to dissolve the “Fidebitcoin” trust fund and start...
Central Bank Governor Says Kenya’s Position on Cryptocurrencies Has Not Changed
30.1.2022
Kenya’s position on cryptocurrencies is still unchanged the governor of the Central Bank of Kenya (CBK), Patrick Njoroge has said. Njoroge latest remarks come as Kenya continues to cement its position as one of the countries on the African continent that has the highest adoption...
Putin Urges Government, Central Bank to Reach Consensus on Crypto, Highlights Russia’s Mining Potential
27.1.2022
President Vladimir Putin has joined the debate on the future of cryptocurrencies in Russia, calling on the government and central bank to work out a common position on their regulation. The Russian leader also emphasized Russia’s strengths as a crypto mining destination. Putin Asks Ministers...
IMF Urges El Salvador to Drop Bitcoin Tender Law, Executive Board Report criticizes BTC Bonds, Chivo Wallet
25.1.2022
The International Monetary Fund (IMF) has been very critical of cryptocurrencies and according to a report on Tuesday, the IMF’s board has “urged” El Salvador to discontinue its bitcoin tender status. A few members of the IMF’s board said the country’s decision...
Fearing a Hawkish Fed: Economists Focus on Upcoming FOMC Meeting as Global Market Rout Slows
25.1.2022
Global markets have been feeling the pressure of fear and uncertainty, as the upcoming Federal Open Market Committee (FOMC) plans to make a decision on Wednesday concerning changing the current monetary easing policy and raising the benchmark interest rate. Economists and market analysts fear...
SEC Has Taken 97 Crypto Enforcement Actions So Far — Crypto a Top Priority for Chairman Gensler
24.1.2022
The U.S. Securities and Exchange Commission (SEC) has brought 97 cryptocurrency enforcement actions so far. Furthermore, the securities regulator has imposed approximately $2.35 billion in total monetary penalties against digital asset market participants. 97 Crypto Enforcement Actions Cornerstone...
New Payment System Seeking to Bolster Intra-African Trade Goes Live
22.1.2022
A new continent-wide payment system that seeks to strengthen African fiat currencies, as well as to boost intra-Africa trade, recently went live. Discussions about onboarding more African countries are still ongoing. SMEs the Main Beneficiaries of the Payment System A new African payment system...
Russian Banks Begin Testing Digital Ruble Payments
22.1.2022
Banks in Russia are preparing to dive into the pilot phase of the digital ruble project and some are already testing transactions with the currency. Trials have started with customer-to-customer (C2C) payments and Bank of Russia plans to expand the types of operations in the future. Digital Ruble...
Joe Biden Claims Inflationary Pressure ‘Rests With the Federal Reserve,’ Praises the Fed’s ‘Extraordinary Support’
20.1.2022
On Wednesday, U.S. president Joe Biden explained that the country’s central bank was dealing with a large share of the inflationary pressures the American economy is dealing with today. Biden welcomes the possibility of tightening monetary easing and noted that he “respects...
Cryptocurrency ATMs Close Down in Singapore Following Central Bank’s Announcement
19.1.2022
Cryptocurrency ATMs have closed down in Singapore following the guidelines issued by the central bank, the Monetary Authority of Singapore (MAS). “To comply with the sudden announcement, we have ceased to offer buy or sell services via our five ATMs while seeking further clarification from...
Singapore Restricts Crypto Ads — Central Bank Says Crypto Trading Not Suitable for the General Public
18.1.2022
Singapore’s central bank has issued guidelines to discourage cryptocurrency trading by the general public. The central bank emphasized that “the trading of cryptocurrencies is highly risky and not suitable for the general public.” Singapore’s Central Bank Discouraging...