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Ruling South Korean Party Makes Pro-Crypto Policy U-Turn

20.11.2021
The head of the ruling Democratic Party in South Korea has promised to make a dramatic U-turn on crypto policy, claiming that “the time has come” for the government to stop regulating crypto and start “fostering” the industry.... Read More: Ruling South Korean Party Makes Pro-Crypto Policy U-Turn

A US Fed Governor Argues That Stablecoins Scaling Fast is Not a Concern

19.11.2021
There is no reason to worry about fast-growing stablecoins if “sufficient competition” exists both within the industry and outside of it, a governor of the US Federal Reserve suggested in a speech this week.... Read More: A US Fed Governor Argues That Stablecoins Scaling Fast is Not a Concern

IMF Says Nigerian CBDC Drawing Global Interest, Warns of Associated Risks

18.11.2021
The International Monetary Fund (IMF) has acknowledged that the recently launched Nigerian central bank digital currency (CBDC) is attracting interest from many institutions globally, including central banks. Still, the fund warns that the CBDC carries risks for monetary policy implementation...

Nearly 500,000 Nigerian CBDC Wallets Downloaded Since Launch

17.11.2021
Nearly half a million e-naira wallets have been downloaded a few weeks after the central bank digital currency (CBDC) was officially launched by Nigerian President Muhammadu Buhari, the central bank has said. E-Naira’s Initial Trade Volumes In addition to the 488,000 wallets that have been...

Kyrgyzstan Shuts Down Cryptocurrency Farm With 2,500 Mining Rigs

17.11.2021
Authorities in Kyrgyzstan have uncovered and shut down a large crypto mining farm in the north of the country. Law enforcement officials claim the illegal coin minting facility has inflicted “colossal damage” to the nation’s power grid and that they are still trying to estimate...

Digital Ruble Should Not Boost Inflation, Bank of Russia Says

17.11.2021
Bank of Russia is preparing for a prolonged trial of the digital version of the national fiat to ensure this is a “full-fledged ruble,” the head of the monetary authority has emphasized. The regulator has put forward some conditions for the implementation of the new currency project....

Russian MPs Want Central Bank to ‘Consider Crypto’s Spread’

16.11.2021
Russian lawmakers and regulators are pressing for crypto change, but will likely have to contend against a familiar foe in all things crypto-related in the country – the staunchly anti-crypto Central Bank. In an interview with RIA Novosti, Alexey Savatyugin, the Auditor of the Accounts Chamber...

Zanzibar Government Keen to Get Stakeholders’ View on Cryptocurrencies

15.11.2021
Zanzibar is keen on getting stakeholders’ views on the viability of adopting digital currencies before a final decision is made, a government minister has said. The Importance of Getting the Views of Stakeholders In his remarks during an interview with The Citizen, Mudrick Soraga, who is...

Interest Rates: Why the Era of Cheap Money Is Finally Ending

14.11.2021
John Whittaker, Senior Teaching Fellow in Economics, Lancaster University.____ The Bank of England was widely expected to slightly increase its official bank rate on November 4, but it decided to stick to the all-time low of 0.1%. However, the bank has made it clear that a rise will soon...

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