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Fed Expected to Take Dovish Stance in 2024 with Over 100 Basis Points of Cuts
27.11.2023
The Fed is expected to cut interest rates by over 100 basis points in 2024 as inflation rates fall, adopting a more dovish monetary policy stance. Image by Monster Ztudio, Adobe Stock. The U.S. Federal Reserve is likely to adopt a dovish monetary policy stance in 2024, according to projections...
Singapore Proposes Rules to Tighten Crypto Speculation in Retail Markets – Here’s the Latest
23.11.2023
Source: Pixabay / Sasin Tipchai The Monetary Authority of Singapore (MAS) has proposed revised guidelines to curb the growing rate of digital asset speculation in retail markets. In a recent publication, the Central Bank released amended regulations for digital payment token providers and related...
Bitcoin Technical Analysis: BTC Holds Steady After Binance Settlement and Fed Minutes
22.11.2023
The price of bitcoin is coasting along under the $37K range following the recent settlement between the U.S. Department of Justice (DOJ) and Binance. At the same time, the U.S. Federal Reserve’s minutes were released on Tuesday showing no signs of any possible rate cuts or monetary easing....
Singapore Unveils Plan to Ensure Seamless Financial Transactions Across Digital Asset Networks
21.11.2023
The Monetary Authority of Singapore’s managing director has outlined the central bank’s plan to ensure seamless financial transactions across digital asset networks. “Currently, there is a proliferation of digital asset networks,” the head of Singapore’s central bank said....
Digital Hong Kong Dollar Pilot Plan to Enter Second Phase Next Year
20.11.2023
Source: HKMA The Hong Kong Monetary Authority (HKMA) is set to initiate the second phase of its digital Hong Kong Dollar project next year, focusing on the exploration of innovative applications and reinforcing collaborations across the financial industry. During the Fintech Foresight Seminar held...
Russian Lawmakers Urge Central Bank to Rethink Digital Ruble Plans
20.11.2023
Source: Alex Zarubi/Unsplash Russian lawmakers want the country’s Central Bank to ditch its current retail model digital ruble in favor of a wholesale alternative. Per Interfax, three State Duma committees submitted a joint response to the Central Bank’s monetary policy report for 2024-2026....
People’s Bank of China Tests Digital Yuan Payment Integration in Hong Kong
18.11.2023
The People’s Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA) are in the second phase of the integration tests of the digital yuan for payments and cross-border transactions in Hong Kong. This new phase includes more banks and the ability to use the Fast Payment System to...
IMF Chief Says Central Bank Digital Currencies Can Replace Cash — Urges Public Sector to Prepare for CBDC Deployment
18.11.2023
International Monetary Fund (IMF) Managing Director Kristalina Georgieva says central bank digital currencies (CBDCs) can replace cash. She has urged the public sector to “keep preparing to deploy CBDCs and related payment platforms,” emphasizing that these platforms “should...
Asia-based Crypto Exchange XREX Secures In-Principle Approval for Major Payment Institution License in Singapore
17.11.2023
Source: AdobeStock / Richie Chan On November 16, XREX, an Asia-based cryptocurrency exchange specializing in cross-border payments, achieved a significant milestone by receiving in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. This...
Singapore Announces Global Tokenization Initiative in Partnership With BNY Mellon, DBS, JPMorgan, and MUFG
17.11.2023
The Monetary Authority of Singapore (MAS) has announced a global tokenization initiative that seeks to allow tokenized assets to be exchanged by different financial institutions across borders. The initiative, touted by MAS officials as the evolution of Project Guardian, a series of tokenization...
Singapore central bank to trial live wholesale CBDC for settlements
17.11.2023
The Monetary Authority of Singapore has unveiled its plan to launch a live wholesale CBDC used for settlements by local banks
Singapore’s Monetary Authority to Expand Wholesale CBDC Pilots
16.11.2023
Source: Pixabay Singapore’s central bank, The Monetary Authority of Singapore (MAS) has unveiled plans to start live Central Bank Digital Currency (CBDC) wholesale pilots and efforts to expand the framework. On Nov 16, the financial authority released plans for a safe an innovative use of digital...
Stablecoin Issuer Paxos Receives Preliminary Nod from Singapore Regulator
16.11.2023
Source: Paxos Blockchain infrastructure firm Paxos has obtained a preliminary license from the Monetary Authority of Singapore (MAS) for its new entity. With the in-principal approval, Paxos Digital Singapore, the new entity, will offer digital payment token services to Singaporeans. Further, Paxos...
'Cryptocurrencies Have Failed the Test of Digital Money,' MAS' Managing Director Says
16.11.2023
Ravi Menon, the Managing Director of the Monetary Authority of Singapore, said crypto has performed poorly as a medium of exchange or store of value
Paxos to issue USD stablecoin in Singapore, wins initial approval
16.11.2023
The USD-backed token will comply with Singapore’s upcoming stablecoin laws and be issued through a new local Paxos entity that’s received initial approval
Singapore’s Central Bank Expands Asset Tokenization Initiatives Under Project Guardian
15.11.2023
Source: Pixabay / Sasin Tipchai The Monetary Authority of Singapore (MAS) is commencing a series of asset tokenization pilots in collaboration with financial services heavyweights. The central bank announced Wednesday that the initiative is an extension of the ambitious Project Guardian – involving...
Today in Crypto: 46.5% of Web3 Fund Loss is Result of Traditional Web2 Security Issues, Investment in Blockchain Gaming Hits $1.5 Billion in 2023
15.11.2023
Source: AdobeStock / AhmadSoleh Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news. __________ Security news While developers and researchers generally focus on designing and coding the smart contract protocol...
IMF Director Urges Institutions to Look Toward CBDCs, Highlights Cross-border Utility
15.11.2023
Source: AdobeStock / Kristina Blokhin The managing director of the International Monetary Fund (IMF) Kristalina Georgieva has publicly praised the deployment of Central Bank Digital Currencies (CBDCs) by more countries. Speaking at the Singapore FinTech Festival, on the theme “Financial Inclusion...
Monetary Authority of Singapore Starts Tokenization Pilots Alongside Financial Services Heavyweights
15.11.2023
The test will explore bilateral digital asset trades, foreign currency payments, multicurrency clearing and settlement, fund management and automated portfolio rebalancing
Circle Introduces Zero-Fee USDC Minting with Circle Mint in Singapore
15.11.2023
Source: Circle Internet The issuer of the USDC stablecoin, Circle, has announced the launch of its zero-fee minting facility, Circle Mint, exclusively in Singapore. This strategic initiative comes on the heels of Circle securing the Major Payments Institution (MPI) license from the Monetary...