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Central Bank of Peru Will Develop a Digital Currency
22.11.2021
The Central Reserve Bank of Peru, the Peruvian central bank, is planning to develop a central bank digital currency (CBDC) like other economies of the world. The announcement was made by its president, Julio Velarde, who stated that the currency would be designed for use primarily in payments....
Nigerian Remittances Rebound as Country Tops Sub Sahara Africa — Sending Costs Still High
21.11.2021
Nigeria is once again Sub Sahara Africa’s biggest recipient of remittances into the region where the money transfers went up by 6.2 percent to $45 billion, a new World Bank report has shown. The Impact of Nigerian Policies on Remittances According to the November 17, 2021 press release, this...
Russians to Pay Fees on Digital Ruble Transactions, Central Bank Says
21.11.2021
Users of Russia’s central bank digital currency are going to pay a fee for each transaction, a high-ranking representative of Bank of Russia has recently announced. The digital ruble charge, however, is not going to exceed those currently applied to fast payments in the country. Bank...
Opposed to Bitcoin Payments, Bank of Russia Says State Should Not Stimulate Spread of Cryptocurrencies
20.11.2021
Cryptocurrencies are anonymous and the government shouldn’t encourage their spread, the head of Bank of Russia has insisted. The regulator remains firmly opposed to the legalization of bitcoin and the like as a means of payment in the Russian Federation. Bank of Russia Reiterates Negative...
Digital Ruble Poses Risks to Financial Sector and Security, Russian Lawmakers Warn
20.11.2021
Russian parliamentarians have cautioned against risks associated with the introduction of a digital ruble. Among them are the likely increase of competition pressure on banks and new challenges that may arise in the field of information security. Financial Market Committee Sees Threats in Digital...
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
Digital currencies won’t impact US sanctions, Treasury exec says
19.11.2021
Russia’s digital ruble won’t help the country avoid U.S. sanctions because the global economy is “interconnected,” an official said
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...
Modi Says Bitcoin in the ‘Wrong Hands’ Can ‘Spoil Our Youth’ as India Readies a CBDC
18.11.2021
The world of crypto has been left bemused (and in some cases thoroughly amused) by unexpected comments made on bitcoin (BTC) and crypto regulation from the Indian Prime Minister Narendra Modi.
In a virtual address at the Sydney Dialogue, Modi stated that “democratic nations should work together...
Nigeria Central Bank Governor: Cryptocurrency Is a Product ‘Embedded in High Level of Illegality’
18.11.2021
The Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has claimed that a majority of cryptocurrency transactions are embedded in illegality. He also asserts that there is no room for cryptocurrency in the Nigerian banking space. Pushback Against Endsars Protest Claims In his latest...
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...
Digital ruble should not affect inflation, Bank of Russia says
17.11.2021
According to official data, Russia’s inflation rate reached 8.1% in October, the highest level in almost six years
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....
Federal Reserve Governors Don’t See Reason to Issue Central Bank Digital Currency
16.11.2021
At least three Federal Reserve governors have said that they do not see a reason for the Fed to issue a central bank digital currency (CBDC). The Fed is currently putting together a report on a digital dollar to be released in the near future. Fed Governors Doubt Need for Digital Dollar Federal...
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...
Indian Prime Minister Modi Chairs Crypto Meeting After Consulting With RBI, Finance Ministry
16.11.2021
Indian Prime Minister Narendra Modi has reportedly chaired a comprehensive meeting on cryptocurrency and related issues in India. The meeting was an outcome of a consultative process involving the central bank, the Reserve Bank of India (RBI), the Ministry of Finance, and the Home Ministry. PM Modi...
Tanzania’s Zanzibar reportedly exploring ways to adopt crypto
15.11.2021
More African countries are considering adopting Bitcoin as the local crypto market surged over 1,200% in one year
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...
Every Large Bank Will Actively Consider Crypto in 1-3 Years, Says Former Citi CEO
14.11.2021
A former CEO of Citigroup said that every major bank and securities firm will consider crypto trading or services within one to three years. He also hopes that central banks worldwide will adopt digital currencies. Former Citi CEO Expects All Major Banks to Embrace Crypto in 1-3 Years...