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Japan Urges Regulators Worldwide to Subject Crypto Exchanges to Bank-Level Oversight
19.1.2023
Japan has reportedly urged other countries, including the U.S., to regulate crypto exchanges like they do banks. A top official at the Financial Services Agency explained that the recent FTX implosion wasn’t brought on by crypto technology but by “loose governance, lax internal...
Nearly $1 Billion Poured Into Egypt’s Forex Market — Local Currency Now World’s Worst Performing Currency in 2023
18.1.2023
The Egyptian central bank recently claimed that its decision to devalue the local currency has been vindicated by foreign investors’ return to the country’s foreign market where they reportedly poured in $925 million in just three days. The surge in the sales of Egyptian treasury bills...
Spain's central bank approves euro-linked token pilot as part of sandbox initiative: Report
18.1.2023
To use the tokens, users will need to verify their identity through phone and video identification, and load their wallet with real euros
Sao Paolo Court Ruled Against Binance in User Withdrawal Related Case
18.1.2023
A court in Sao Paolo, Brazil, ruled against Binance in a case in which the leading cryptocurrency exchange faced a withdrawal-related complaint. A user, who introduced a lawsuit against the exchange because he couldn’t retrieve his funds from the platform, received almost $2,000 in damages...
Will Bitcoin price crack $22K? Dollar weakness, Bank of Japan easing boost hopes
18.1.2023
No change in central bank policy from Japan caused ruffled feathers in forex markets, but Bitcoin remains tied to a trading zone near two-month highs
Iran and Russia Consider Issuing Gold-Backed Stablecoin, Officials Unveil
18.1.2023
Tehran and Moscow are discussing the possible launch of a stablecoin for international settlements, the Russian press revealed. In order to mint the gold-backed currency, however, authorities would need to first regulate crypto assets, a lawmaker noted. Russian, Iranian Representatives Talk Using...
BIS Economists Recommend 3 Crypto Policies for Regulators Worldwide to Adopt
18.1.2023
Economists at the Bank of International Settlements (BIS) have recommended three policies regulators worldwide could adopt in order to deal with the risks posed by cryptocurrencies. “Authorities can now consider a variety of policy approaches and at the same time work to improve the existing...
Spanish Airline Vueling to Accept Cryptocurrency as Means of Payment
17.1.2023
Vueling, a low-cost Spanish airline, has announced it is exploring the functionality of blockchain and NFT (non-fungible token) technology to accept cryptocurrency as a means of payment for its services. The company enlisted the aid of Criptan, a registered Spanish cryptocurrency exchange, and aims...
Bank of America Says CBDCs Are the Future of Money and Payments
17.1.2023
Central bank digital currencies have the potential to revolutionize global financial systems, the report said
Crypto-Focussed Bank Silvergate Reports Q4 Loss of $1B
17.1.2023
Silvergate's losses in Q4 culminated in full-year losses of around $949 million, compared to net income of $75.5 million in 2021
Bank of England governor questions need for digital pound
17.1.2023
BoE governor Andrew Bailey highlighted that the UK already has a wholesale settlement system with a major upgrade
Tanzanian Central Bank Adopts ‘Phased and Risk-Based Approach to Adoption of CBDC’
17.1.2023
After months of research, the Tanzanian central bank announced recently that it had chosen a more cautious and risk-based approach towards the adoption of its central bank digital currency (CBDC). During the research phase, the central bank said it paid particular attention “to risks...
Georgia Prepares to Launch Digital Lari Pilot in First Half of 2023
17.1.2023
The central bank of Georgia intends to publish a document detailing the concept of a national digital currency in the coming months. Other participating parties will use it to finalize their proposals for the pilot which the monetary authority plans to initiate in the first half of the year....
Brazil’s Second-Largest Private Bank Launches First Tokenized Credit Note
16.1.2023
Bradesco carried out the operation as part of a regulatory sandbox promoted by the South American country's central bank
Bradesco, One of Brazil’s Largest Banks, Launches Tokenized Credit Notes in Blockchain Pilot
16.1.2023
Bradesco, one of the largest banks in Brazil and the third biggest in all of Latam, has entered the cryptocurrency world by issuing its first tokenized credit notes. The operation, carried out in partnership with Bolsa OTC, tokenized almost $2 million in bank credit notes, which were also...
Indian Central Bank Governor asks for a blanket ban on Crypto
16.1.2023
Shaktikanta Das, the Indian Central Bank governor, said that crypto is gambling. The governor also called for a blanket ban on crypto at a Business Today event. Given the skepticism shown by government officials, crypto enthusiasts are getting flustered about the future of crypto gambling sites....
Report: Egyptian Pound Reaches New Low Against US Dollar Despite Flexible Exchange Rate Regime
16.1.2023
The exchange rate of the Egyptian pound versus the U.S. dollar fell to a new low on Jan. 11 after it tapped 32.14 per greenback. The currency’s latest significant depreciation came just a few months after it adopted a flexible exchange rate regime. According to the International Monetary...
Indian Central Bank Chief Insists Crypto Should Be Banned — Warns ‘It Will Undermine Authority of RBI’
16.1.2023
India’s central bank has reiterated its stance on banning cryptocurrencies like bitcoin and ether. The governor of the Reserve Bank of India (RBI) likened cryptocurrency trading to gambling. He warned that crypto “will undermine the authority of the RBI and lead to the dollarization...
Tanzania ‘cautious’ on CBDC adoption after initial research
16.1.2023
The Bank of Tanzania is waiting for the conclusion of its research into CBDCs before making a final decision on adoption
Bank of Thailand to allow first virtual banks by 2025
15.1.2023
By allowing virtual banks, Thailand seeks to boost competition and economic growth