Search
Turkish Central Bank Runs First CBDC Tests
29.12.2022
The monetary authority said it will conduct further trials in the first quarter of 2023
Gold-Based Digital Assets Issued in Russia
29.12.2022
A blockchain platform built by Russia’s largest banking institution, Sber, has been used to issue digital assets based on gold. The value of the tokenized precious metal will depend on the prices of physical gold, the bank said, emphasizing that the operation is a first. Russia’s Sber Bank Mints...
Chinese Central Bank Updates Digital Yuan App, Adds Gift Functions
28.12.2022
The central People’s Bank of China (PBoC) has updated its digital yuan app – and is attempting to drive up adoption with new gifting and invitation functions.
The newspaper Beijing Business Today reported that the smartphone app, which was launched in January this year, has undergone another...
China’s CBDC wallet resorts to ages-old tradition to boost adoption
28.12.2022
A traditional Chinese way of gifting money that’s gone virtual with the rise of digital payments has been introduced into the digital yuan wallet app
Philippine Regulator Warns Against Using Unlicensed Cryptocurrency Exchanges Following FTX Collapse
28.12.2022
The Philippine Securities and Exchange Commission (SEC) has advised investors against transacting with unlicensed cryptocurrency exchanges. The warning followed the collapse of crypto exchange FTX which “left hundreds of thousands, even millions of unsecured creditors with little to...
Report: Nigerian Security Agency Seeks to Arrest Central Bank Governor on Charges of Funding Terrorists
27.12.2022
The Nigerian security agency, the Department of State Services (DSS), has reportedly instructed its operatives to arrest the Central Bank of Nigeria governor Godwin Emefiele as soon as he is seen in public. The DSS is still seeking to apprehend Emefiele despite losing its bid to have a Nigerian...
Russia's largest bank issued gold-backed digital financial assets
27.12.2022
The issuance became the second major operations of the bank with the new class of assets
Crypto OTC trading to get traction due to FTX fiasco, exec says
27.12.2022
The FTX crash could trigger a bigger demand for crypto OTC services as investors are looking for alternative crypto exchange methods amid weak trust in CEXs
Report: R&B Artist Akon Denies Claims His Crypto City Dream Is Crumbling
27.12.2022
Senegalese-American artist, Akon, reportedly reassured participants in his so-called token of appreciation (TOA) that they will be reimbursed for donations. To back this promise, the singer reportedly claimed he is even willing to do “a world tour just to pay them all back.” Akon...
Japan to lift the ban on foreign stablecoins like USDT in 2023: Report
26.12.2022
None of the 31 crypto exchanges registered with Japan's Financial Services Agency are currently offering trading in stablecoins like USDT or USDC
Brazilian Securities Commission CVM Opens a Path for Funds to Invest in Crypto
26.12.2022
The Brazilian Securities Commission CVM has cleared the path for funds to dive into cryptocurrency-based investments. The institution issued a new set of rules that allows financial investment funds to invest in cryptocurrency tokens with the equivalent protections offered to other investment...
As the Fed Turns 109 Years Old, the US Dollar’s Purchasing Power Eroded by More Than 96% Since It Was Created
25.12.2022
109 years ago, the U.S. Federal Reserve was created and ever since that day, the purchasing power of the U.S. dollar has dropped a great deal. Since the Fed started, more than 96% of the greenback’s purchasing power has been erased via inflation. The Purchasing Power of the U.S. Dollar After...
Russia to Ban Banks From Using Messengers Like Telegram to Contact Customers
25.12.2022
Financial institutions in Russia will not be able to communicate with clients through instant messengers based outside the country, local media revealed. A new law passed by the State Duma also prohibits banks from using chats to send personal data and payment documents. Bill Restricts Russian...
JPMorgan: Crypto Is a Nonexistent Asset Class for Most Large Institutional Investors
25.12.2022
A strategist at global investment bank JPMorgan says crypto is effectively nonexistent as an asset class for most large institutional investors. “The volatility is too high, the lack of an intrinsic return that you can point to makes it very challenging,” he added. JPMorgan...
ECB to Decide Whether to Issue Digital Euro in 2023
24.12.2022
The European Central Bank (ECB) has published a new report on the progress of its investigation into the possible launch of a digital euro. The research will continue next year with the regulator planning to make a decision whether to proceed to the realization of the project in the fall of 2023....
Bank of England’s Cunliffe Pushes for Crypto Regulation — Sees ‘Real’ Benefits for UK
24.12.2022
Bank of England Deputy Governor Sir Jon Cunliffe has revealed that the British central bank is planning to step up its efforts to regulate cryptocurrency trading with new laws. “We should think about regulation before it becomes integrated with the financial system and before we could have...
Elon Musk: Recent Fed Rate Hikes Might Go Down in History as Most Damaging Ever
24.12.2022
Tesla CEO and Twitter chief Elon Musk says the Federal Reserve’s recent rate hikes “might go down in history as most damaging ever.” The billionaire has urged the Fed to cut interest rates immediately, emphasizing that the U.S. central bank is “massively amplifying...
Nigerian Central Bank Increases Cash Withdrawal Limits After Receiving ‘Feedback From Stakeholders’
23.12.2022
Barely a month after announcing the restricting of cash withdrawals to under $50 per week, the Central Bank of Nigeria said on Dec. 21 that individuals will be able to withdraw an equivalent of $1,120 per week starting on Jan. 9, 2023. The central bank said individuals and corporate organizations...
How crypto could be good for CBDC and vice versa: Industry exec explains
23.12.2022
While some governments continue bashing crypto, some industry executives argue that crypto could be beneficial for CBDCs
India’s Central Bank Chief: Cryptocurrencies Will Cause Next Financial Crisis if They’re Not Banned
23.12.2022
The governor of India’s central bank, the Reserve Bank of India (RBI), has warned that the next financial crisis will come from cryptocurrencies, like bitcoin and ether. The central bank chief added that cryptocurrencies pose “huge inherent risks” to India’s macroeconomic...