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Dutch Central Bank Forced To Scrap Crypto Wallet Verification Requirement
21.5.2021
In a landmark decision for the country’s crypto industry, a court order obtained by Dutch bitcoin (BTC) exchange Bitonic has succeeded in forcing De Nederlandsche Bank (DNB) to scrap its controversial wallet verification requirement.
The company contested the measure at a Rotterdam court, claiming...
Bank of Russia to Launch Digital Ruble Prototype by End of Year
21.5.2021
The Central Bank of Russia (CBR) is preparing to release a digital prototype of the national fiat towards the end of 2021, a high-ranking official has confirmed. Transfers between private individuals will be free of charge with the digital ruble, which is going to have legal tender status on...
ECB Vice President Says Crypto Assets Are ‘Not a Real Investment’ Citing Weak Fundamentals
20.5.2021
The vice president of the European Central Bank (ECB), Luis de Guindos, has warned that crypto assets are “not a real investment” and are “subject to a lot of volatility.” His comments followed massive sell-offs across a broad range of cryptocurrencies. ECB VP Says Crypto...
Cuban Central Bank Issues Warning on the Rising Number of Crypto-Related Ponzi Cases
19.5.2021
Cuba has witnessed some exciting times in the last few months as far as nationwide digital currency acceptance, but the road toward this goal is still under construction. The country’s central bank recently issued a warning about the rising number of cryptocurrency-related scam cases across...
State-backed digital currencies can disrupt financial systems: Report
18.5.2021
While CBDCs could help central banks address the decline in cash payments, some risk factors remain
Nigeria Devalues Currency as Central Bank Moves to Unify Exchange Rates
17.5.2021
In a possible policy shift, the Central Bank of Nigeria (CBN) recently allowed the local naira currency to briefly drop to a new low of USD$1 for 419.75 nairas on May 14, 2021. However, by close of business the naira had recovered and was trading around 411.25. Before the latest adjustment,...
Liberian Central Bank Asks Local Crypto Startup to Drop its Plan to Launch a Digital Asset
15.5.2021
The Central Bank of Liberia (CBL) has warned against a local crypto startup’s plan to proceed with the introduction of a digital financial product without adhering to the required regulation. According to the CBL, this act will not only be illegal but this will likely “undermine...
Bank of Korea to Monitor Crypto Transactions Using Financial Records
15.5.2021
South Korea’s monetary policy regulator, Bank of Korea, plans to obtain documents from financial institutions to track crypto transactions involving bank accounts. Cryptocurrency prices fluctuate independently from the real economy, the bank says, adding that market growth could pose a risk...
UK will likely need to issue a digital currency, says BoE deputy governor
14.5.2021
The Bank of England's deputy governor has argued that, with the possible rise of non-bank actors issuing currency, public money in digital form could serve as a crucial anchor for confidence in money as a social convention
India’s Central Bank RBI Urges Banks to Cut Ties With Crypto Businesses and Traders: Report
14.5.2021
India’s central bank, the Reserve Bank of India (RBI), has reportedly informally asked banks to cut ties with cryptocurrency exchanges and traders. Some banks in India have limited their exposure to the crypto market and some plan to stop all crypto-related transactions. RBI Asking Banks...
Argentinean Tax Body Asks Domestic Cryptocurrency Exchanges to Report Monthly Transactions and Wallet Balances
14.5.2021
The local tax authority could soon hunt tax evaders who trade cryptocurrencies in Argentina following a notice sent to domestic crypto exchanges. The Federal Administration of Public Revenue (AFIP) ordered them to report all virtual currency-related transactions every month. Payment Gateways...
Central Bank of Bahrain and JPMorgan to work on digital currency settlement pilot
13.5.2021
The Central Bank of Bahrain expects that its digital currency collaboration with JPMorgan and Bank ABC could extend to a CBDC
Bank of Korea wants to monitor crypto trading activity, cites monetary risks
13.5.2021
South Korea’s central bank is the latest entity seeking powers to monitor crypto trading activity in the country
Hong Kong to expand pilots for cross-border use of digital yuan
13.5.2021
The first phase of tests for use of the digital yuan across borders has been successful, the Hong Kong Monetary Authority has said
Bank of Israel Drafts Model of a Digital Shekel
13.5.2021
The central bank of Israel has offered a glance at what a digitalized version of the national fiat currency may look like. According to a released “draft model” of the coin, Israelis should be able to use the digital shekel in payments, even offline, and convert it to cash at...
Israel's central bank floats possible digital shekel with new action plan
11.5.2021
The bank has been exploring the introduction of a CBDC since 2017
Alipay set to allow users test China's digital yuan
10.5.2021
China’s e-payment giant will allow some users to link their accounts to the country’s digital yuan app
ECB Chief Lagarde: Cryptocurrencies Prone to Money Laundering, No Intrinsic Value, Buy if Prepared to Lose all Money
9.5.2021
The president of the European Central Bank (ECB), Christine Lagarde, warned that cryptocurrencies are prone to money laundering. She agrees with the governor of the Bank of England, Andrew Bailey, who recently said that cryptocurrencies have no intrinsic value and investors should be prepared...
China’s Digital Yuan Smart Card to Feature Biometrics and Fingerprint Scanning
9.5.2021
The People’s Bank of China’s upcoming digital yuan card will feature IDEX Biometrics and fingerprint scanning, according to regional reports. China’s “Digital Currency Electronic Payment” or DCEP is getting closer toward launch by the day. Last week, smart card...
Bank of Russia Tests Services Related to Cryptocurrencies
9.5.2021
Russia’s central bank has examined three platforms offering crypto-related services. The projects have been tested in its regulatory sandbox in the course of 2020. Bank of Russia has received dozens of requests to pilot various financial services since it created the closed regulatory...