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Chinese Banks Seek New Applications for Digital Yuan in Investment and Insurance
1.9.2021
Two Chinese banks are expanding their pilot programs for the digital national fiat. The state-owned financial institutions have revealed they are aiming to allow digital yuan holders to acquire investment funds and insurance products using the new currency. Chinese Banks Partner With Fund Managers...
Digital Currency Firm FTX Acquires Crypto Derivatives Platform Ledgerx
1.9.2021
On Tuesday, West Realm Shire Services Inc., the parent company of the crypto exchange FTX, announced that the firm has acquired the Commodity Futures Trading Commission (CFTC) regulated digital currency futures and options exchange and clearinghouse Ledgerx. FTX Acquires Virtual Currency Futures...
Central Bank of Nigeria Selects Barbados-Based Fintech Firm as Technical Partner for CBDC Project
1.9.2021
The Central Bank of Nigeria (CBN) has named the fintech firm Bitt Inc. as a technical partner for its digital currency project, the e-naira. As a technical partner, Bitt is expected to use its “technological competence and implementation experience” to help the CBN successfully launch...
Metamask Surpasses 10 Million Monthly Active Users, Climbing 1,800% in 12 Months
31.8.2021
On Tuesday, the noncustodial digital currency wallet Metamask announced that the platform has surpassed 10 million monthly active users (MAUs). Year-to-date, Metamask has seen 19x growth since July 2020 as MAUs climbed 1,800% in 12 months. Metamask Hits Over 10 Million Monthly Active Users...
Bitcoin Legal Tender in 7 Days: El Salvador Publishes Video Explaining What to Expect
31.8.2021
Bitcoin will become legal tender in El Salvador alongside the U.S. dollar in seven days. The Salvadoran government has released a video explaining what to expect when the Bitcoin Law enters into force. The video features the government’s fee-free crypto wallet, Chivo. Government’s...
Crypto does not qualify as currency, says South Africa's central bank governor
31.8.2021
South Africa’s top banker has said crypto are more akin to assets than actual currencies
Chinese banks explore e-yuan for selling investment funds and insurance
31.8.2021
Bank of Communications and China Construction Bank are working with fund managers and insurers to facilitate e-yuan payments for Chinese citizens
South African Central Bank Governor Reiterates: ‘Crypto Is Not Currency’
30.8.2021
The governor of the South African Reserve Bank (SARB), Lesetja Kganyago, has reiterated the central bank’s longstanding belief that cryptocurrencies like bitcoin are not currencies. According to Kganyago, crypto-assets, as he prefers to call them, are not currencies because they fail to meet...
Singapore central bank shortlists 15 companies to develop retail CBDC
30.8.2021
The 15 finalists will be mentored by the MAS and “be given access to the APIX Digital Currency Sandbox for rapid prototyping of digital currency solutions.”
Nigerian Central Bank Reveals CBDC Guidelines, Announces Plan to Launch E-Naira Wallet
30.8.2021
The Central Bank of Nigeria (CBN) has reportedly confirmed that its e-naira digital currency will have a legal tender and non-interest-bearing asset status. In addition, a limit on customer transactions and value-based transactions will be imposed. Five-Stage Launch According to a Nairametrics...
Nigeria's central bank issues draft guidelines on eNaira CBDC project
30.8.2021
CBN says the proposed central bank digital currency will offer parity of value and will operate as a non-interest-bearing CBDC
IMF: Bitcoin Is Privately Issued Crypto With Substantial Risks, Inadvisable as Legal Tender
30.8.2021
The International Monetary Fund (IMF) says that crypto assets, like bitcoin, are privately issued with substantial risks, and “Making them equivalent to a national currency is an inadvisable shortcut.” The crypto community disagrees. IMF Claims Bitcoin Is Privately Issued Crypto With...
Why Fiat Currency Is More Confusing Than Crypto
29.8.2021
One common refrain you hear about crypto, at least from laypeople, is that it’s too ‘complicated,’ ‘hard to understand,’ ‘opaque.’ On a technical level this view is understandable, yet it ignores the fact that what cryptocurrencies aim to replace/supplement - fiat currencies - are also more than...
India CBDC pilot may commence in December, says RBI governor
27.8.2021
India’s central bank is carefully considering the merits of issuing a digital rupee as CBDC exploration continues to gather steam across the globe
Singapore Myanmar Investco Purchases 800 Mining Rigs, Firm Plans to Offer Mining Services
26.8.2021
On August 24, the investment and management company, Singapore Myanmar Investco Limited (SMI), revealed the company is entering the bitcoin mining industry as it has ordered 800 mining rigs to be delivered to Southeast Asia. The move follows a number of firms pivoting toward digital currency...
Korea’s FSC Chairman Nominee Skeptical Over Cryptocurrency as Financial Asset
26.8.2021
A former central bank official, nominated to head South Korea’s financial watchdog, has expressed skepticism about recognizing cryptocurrency as a financial asset. In comments to a parliamentary committee, Koh Seung-beom has confirmed his views on the matter align with those of international...
Nigerian Central Bank Freezes Bank Accounts of Fintech Firms, Accuses Them of Violating Forex Regulations
19.8.2021
The Central Bank of Nigeria (CBN) reportedly frozen bank accounts belonging to four fintech firms for up to 180 days after a Federal High Court in Abuja acceded to an “ex parte motion.” The ex parte motion, which is a form of temporary suspension, was granted after a Nigerian chief...
Survey Shows 3 in 4 Crypto Investors Turned a Profit Investing, Crypto Represents 12% of Millennial Portfolios
19.8.2021
Digital currencies have seen significant gains in 2021 jumping 154% in value since January 1. On August 18, Cryptovantage published a study that shows 3 in 4 crypto investors said they had made money on their crypto holdings and cryptocurrencies represent 12% of the average millennial portfolio....
Putin Orders Russian Government to Prepare to Check Officials With Crypto Assets
18.8.2021
President Vladimir Putin has tasked several ministries and the central bank to prepare to verify information provided by government employees about their digital asset holdings. The order comes as part of a new plan to combat corruption which was recently approved by the Russian leader. Authorities...
Ukrainian ministry considering digital currency pilot for staff salaries
18.8.2021
Paying ministry employees in e-hryvnia could be a suitable first pilot for the central bank digital currency currently in development