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G7 Finance Ministers and Bankers Adopt Guidelines for Central Bank Digital Currencies
15.10.2021
Any digital currency issued by a central bank must support financial and monetary stability, finance leaders from G7 member states have insisted. State-issued coins should also ensure privacy, transparency, and data protection, the officials stated. The forum adopted 13 public policy principles...
IMF Warns of Higher Inflation, But Central Banks Shouldn’t Tighten Yet
12.10.2021
said today. According to their new report, central banks around the world should “generally look through” the currently elevated inflation numbers, and not tighten monetary policy “until there is more clarity on the underlying price dynamics.”The recommendation from the organ
Powercrypto Holdings to launch BTC & ETH mining in Hong Kong
8.10.2021
The venture seeks to utilize sustainable energy practises throughout the operation process
Georgia to Pilot Digital Currency in Retail Commerce Next Year
8.10.2021
The central bank of Georgia is advancing its digital currency project. The monetary authority is preparing to launch the CBDC as early as next year and plans to use the blockchain-based version of the national fiat, the Georgian lari, to facilitate retail sales. Georgia to Introduce Digital Lari...
Local Experts Say Zimbabwe Not Softening Its Stance on Cryptocurrency Just Yet
7.10.2021
Zimbabwean crypto and economic experts have suggested Finance Minister Mthuli Ncube’s positive comments about cryptocurrencies do not necessarily mean monetary authorities are about to remove restrictions that were imposed in 2018. The Case for Blockchain Instead, the experts claim...
US Lawmakers Float the Idea of Minting a Trillion-Dollar Platinum Coin to Avoid Sovereign Debt Crisis
6.10.2021
American politicians have been clamoring about the U.S. facing a significant debt crisis and the debt ceiling putting the country at risk of default. Joe Biden spoke about the debt ceiling and told Republicans to “just get out of the way” when it comes to the decision. Meanwhile,...
IMF Head Says Central Bank Digital Currencies Are Reliable, Hard to Think of Bitcoin as Money
6.10.2021
Digital currencies backed by central banks are the most reliable form of digital money, according to IMF managing director Kristalina Georgieva. At the same time, to think of cryptocurrencies such as bitcoin as money is difficult, believes the chief executive of the international financial...
Tanzania Central Bank Heeding Call to Prepare for Crypto, Economists Express Reservations
5.10.2021
While the Bank of Tanzania (BOT) executives continue to reiterate the central bank’s willingness to heed the government’s call to prepare for cryptocurrencies, some economists insist Tanzania lacks the resources needed for it to adopt such digital currencies. Economists: Tanzania...
IMF Warns Crypto Boom Poses New Financial Stability Challenges, Urges Regulators to Step Up
3.10.2021
The International Monetary Fund (IMF) warns that the rising popularity of cryptocurrencies poses new challenges to financial stability. “Cryptoization can reduce the ability of central banks to effectively implement monetary policy. It could also create financial stability risks.”...
Singapore Grants Crypto Licenses to DBS and Independent Reserve
1.10.2021
The Monetary Authority of Singapore (MAS), the country’s central bank, has formally approved two companies to provide crypto services. One is the brokerage arm of DBS, the largest bank in Singapore and Southeast Asia. The other is Independent Reserve, a crypto exchange and OTC trading desk....
Reserve Bank of New Zealand Seeks Public Opinion on Central Bank Digital Currency
1.10.2021
The central bank of New Zealand has lined up among monetary authorities exploring the question of issuing their own digital currencies. The financial regulator is now seeking feedback from the public about the need for a digital form of the national fiat while also promising to preserve cash....
Fed Chair Says US Inflation ‘More Enduring Than Anticipated’ — Strategist Predicts 10% Market Correction
29.9.2021
Americans are not only worried about future inflation, but they are also dealing with dwindling purchasing power in real-time. Meanwhile, on Thursday, Federal Reserve chairman Jerome Powell plans to address the Senate Banking Committee and discuss inflation. In the remarks pre-published from...
Multiple CBDC Platform May Cut Int Payment Costs By Up To Half - BIS
28.9.2021
Hong Kong Monetary Authority, the Bank of Thailand, the Digital Currency Institute of the People's Bank of China, and the Central Bank of the United Arab Emirates.“The prototype is part of our efforts to design
Bhutan Partners With Ripple to Pilot Digital Ngultrum on a Private Ledger
25.9.2021
The Central Bank of Bhutan, the Royal Monetary Authority (RMA), has partnered with Ripple to start testing a model of its central bank digital currency (CBDC) using Ripple’s technology. The test will be using Ripple’s own CBDC private ledger, to support similar use cases. The pilot...
Central Bank of Ukraine Supports Crypto Industry, Fears Cryptocurrency
23.9.2021
The National Bank of Ukraine recognizes the benefits of endorsing crypto innovations but also fears cryptocurrencies could gain ground on the national fiat. Announcing its monetary policy guidelines for the near future, the regulator noted it’s going to defend the status of the hryvnia...
Ripple Says it Will Pilot a CBDC for Bhutan
23.9.2021
l="noopener noreferrer" href="https://twitter.com/Ripple/status/1440782839188897794">claimed that it had partnered with the Royal Monetary Authority of Bhutan (RMA), the nation’s central bank, in a deal that would see the latter “use Ripple’s CBDC solution to pilot a digital ngultrum.”The
New Crypto Aims to Solve ‘Zimbabwe’s Money Problems Using Blockchain Technology’
21.9.2021
The Zimbabwean currency’s collapse in 2008 and record hyperinflation are widely seen as textbook examples of what can go wrong with a centralized currency. For instance, some cryptocurrency enthusiasts — as well as opponents of the fiat currency system in general — have...
Nigerian Central Bank Threats Force Parallel Exchange Rate Tracker to Suspend Service
20.9.2021
Following threats from the Central Bank of Nigeria (CBN), the management of Abokifx, a website that tracks the Nigerian currency’s black market exchange rates, has announced the suspension of their daily updates. This suspension will remain in effect until Abokifx gets “better clarity...
Sources With Ties to Washington Say Joe Biden Will Renominate Fed Chair Jerome Powell
15.9.2021
Unnamed sources familiar with the matter indicate the Biden administration may allow Federal Reserve chairman Jerome Powell to continue as the central bank’s lead. The news follows three U.S. representatives asking Biden to replace Powell with a central bank leader that addresses equality...
Crypto Trading, Mining Are Illegal and Punishable, Nepal Central Bank Warns
10.9.2021
Mining and trading of cryptocurrencies are illegal in Nepal, the country’s central bank has reminded citizens of the Himalayan nation. The regulator also warned that participating in such activities would entail penalties as per the current legislation. Despite its position, however,...