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Countries representing over 90% of global GDP are exploring CBDCs
25.7.2021
Governments around the world are pouring more resources into CBDC research and exploratory use cases. Among the major economies, China appears to be pulling ahead and has plans to implement digital-yuan usage during the 2022 Winter Olympics in Beijing
81 Countries Are Now Exploring Central Bank Digital Currencies — 5 CBDCs Fully Launched
25.7.2021
Eighty-one countries are now exploring central bank digital currencies (CBDCs), according to a new tracker. This number is 46 more countries than the number in May last year. In addition, five countries have fully launched their own digital currencies. 81 Central Banks Explore Launching Own Digital...
64% of Adults from 10 Different Countries Would Use a Central Bank Digital Currency: Report
24.7.2021
As central bank digital currencies (CBDCs) advance in testing, a number of countries have taken the lead in an effort to create a CBDC. The enterprise blockchain firm Guardtime recently conducted a survey that shows adults from ten different countries would likely use a CBDC. Nearly two out...
Despite Negative Press, Binance Is Still the World’s Largest Crypto Spot and Derivatives Exchange
19.7.2021
While Binance has had a few issues with payment service providers and regulators from a few countries, the centralized cryptocurrency exchange is still the largest trading platform in terms of trade volume. During the last 24 hours, Binance has recorded roughly $8.6 billion in swaps and the trading...
IMF, World Bank, BIS Recommend Countries Work Together on CBDCs to Enhance Cross-Border Payments
18.7.2021
The International Monetary Fund (IMF), the World Bank, and the Bank of International Settlement (BIS) have conducted an extensive study of using central bank digital currencies (CBDCs) for cross-border payments. Their report to the G20 states that enhanced cross-border payments “can...
How International Fiat Fund Hurts Cash-Strapped Countries (FYI, El Salvador)
18.7.2021
The IMF’s Managing Director, Kristalina Georgieva. Source: A screenshot, Instagram/the_imf
In this commentary, Bernhard Reinsberg, Lecturer in International Relations at the University of Glasgow, and Thomas Stubbs, Senior Lecturer in International Relations at the Royal Holloway, University...
Visa, Mastercard Monitor Binance’s Regulatory Compliance as More Regulators Scrutinize the Crypto Exchange
16.7.2021
Payments giants Visa and Mastercard say they are monitoring Binance’s regulatory compliance developments as more regulators come after the global crypto exchange for operating in their countries without authorization. Visa, Mastercard Monitoring Binance’s Regulatory Troubles Visa...
Italian Regulator Warns Binance Crypto Exchange Not Authorized to Provide Investment Services in Italy
15.7.2021
Binance’s regulatory troubles grow with Italy being the latest country to issue a warning on the global cryptocurrency exchange. Other countries that have issued similar warnings include the U.K., Japan, Thailand, and the Cayman Islands. Crypto Exchange Binance Unauthorized in Italy...
Poland, Romania Rank in Top 10 for Number of Bitcoin ATMs, World’s Total Exceeds 23,000
15.7.2021
Two East European nations, Poland and Romania, are now among the top 10 countries hosting the most cryptocurrency ATMs. The global number of teller machines supporting crypto transactions has increased exponentially over the past months, now reaching over 23,000 devices. Poland Ranks Among Leading...
Barclays' Binance Customers Looking for Alternative Apps, Banks & Countries
6.7.2021
The crypto-supporting customers of London-headquartered multinational bank Barclays are "leaving" and searching for workarounds, after the bank - previously fined for being used for money laundering - stopped payments to major crypto exchange Binance to "protect" customers'...
Regulators in UK, Japan Issue Warnings on Binance Amid Crackdown on Unauthorized Crypto Exchanges
27.6.2021
Top financial regulators in England and Japan have independently issued warnings on Binance for offering crypto exchange services to residents of the two countries without being registered with the regulators as required by law. Japanese Regulator’s Warning Japan’s top financial...
New Bank of America Report Says Digital Currencies ‘Could Boost Economic Growth’ in Developing Countries
23.6.2021
A new Bank of America (BOA) research study has found that both central bank digital currencies (CBDCs) and private digital currencies hold “a lot of potential” for increasing financial inclusion in developing countries. In the report, the bank also argues that such “digital...
Economist Steve Hanke Warns Salvadoran Bitcoin Adoption Could ‘Completely Collapse the Economy’
20.6.2021
The professor of applied economics at Johns Hopkins University, Steve Hanke, has recently been criticizing bitcoin adoption taking place in El Salvador. Hanke doesn’t think it’s a good idea for the Latin American country to use bitcoin as legal tender and says it could “completely...
Central American Bank for Economic Integration to Help El Salvador Implement Bitcoin as Legal Tender
17.6.2021
The Central American Bank for Economic Integration (CABEI), which has 15 member countries, will help El Salvador implement bitcoin as legal tender. The CABEI president has expressed his support. “We’re very optimistic,” he said. Central American Bank for Economic Integration...
Latin American Countries Eye Bitcoin Adoption After El Salvador Passed Bitcoin Law
15.6.2021
A number of lawmakers in Latin American countries have expressed their interest in bitcoin following El Salvador passing the law making the cryptocurrency legal tender. The countries include Paraguay, Argentina, Panama, Brazil, and Mexico. Tonga and Tanzania have also reportedly expressed interest...
Crypto Cyberthreats Spike This Year With Russia Hit the Hardest, Report Reveals
14.6.2021
Cyberthreats related to cryptocurrencies have increased with rising demand for the digital assets, a study has concluded. Russia, Thailand and Peru are the most affected countries by malicious attacks designed to exploit the heightened interest in decentralized money, the authors point out. Booming...
RNS Solutions & Trustedchain Are Developing Blockchain FinLit Platform for Islamic Development Bank
14.6.2021
PRESS RELEASE. Pakistan: RNS Solutions Pte Ltd., the leading blockchain software development company from Pakistan, Korea, and Singapore this week announced a formidable partnership with the ICD-Islamic Development Bank Group, a multilateral development bank that promotes social and economic...
Bitcoinization: JPMorgan Notes ‘Similarly Situated’ Countries Could Make Bitcoin Legal Tender Like El Salvador
13.6.2021
JPMorgan struggles to “see any tangible economic benefits associated with adopting bitcoin as a second form of legal tender.” Commenting on El Salvador’s bitcoinization, JPMorgan did not rule out that the country’s move to make the cryptocurrency legal tender may...
Crypto Payments App Bottlepay Is Now Available Across Europe
9.6.2021
U.K.-based crypto payments provider Bottlepay has started offering services in other European countries. Users on the Old Continent will be able to send and receive even small amounts of euro and also buy, store and spend bitcoin with merchants accepting cryptocurrency. Bottlepay Promises Low-Cost...
Members of East Africa Community Explore Potential Use of CBDC for Alternative Regional Payment System
9.6.2021
Six East African states are reportedly set to explore the possibility of using central bank digital currencies (CBDC) as an alternative to their shared payment system. The six countries, which are all members of the East Africa Community (EAC) trading bloc, are hoping this alternative will create...