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Latest Ghana Benchmark Rate Hike the Largest on Record — President Promises Action Against ‘Unacceptable Depreciation of the Cedi’

23.8.2022
After seeing Ghana’s inflation rate surge to 31.7% in July, the Bank of Ghana responded by hiking the benchmark interest rate by 300 basis points. In addition to the rate hike, the central bank said it will gradually raise banks’ primary reserve requirements. One expert has said...

Bank Run at NFT Lender BendDAO Prompts Attempt to Avert Another Liquidity Crisis

22.8.2022

The Central Bank of Colombia Is Studying the Creation of a Digital Currency

20.8.2022
The Central Bank of Colombia is studying the launch of a digital currency, according to statements made by its manager, Leonardo Villar. The organization is evaluating the launch of this instrument as a means of unifying the different digital wallets in the country, making them interoperable...

Canadian Bank Regulator Details Crypto Liquidity, Backing Rules

19.8.2022
Canada joins U.S., European central banks in explaining how their supervised entities can engage with crypto

Philippine Regulator Warns the Public of Engaging With Foreign Crypto Service Providers

19.8.2022
The central bank of the Philippines, the primary regulator of the country’s crypto sector, has warned investors about engaging with unregistered and foreign crypto service providers. They “may present additional challenges on enforcing legal recourse and consumer protection...

ECB Creating a Harmonized Regulatory Framework Governing Crypto Activities and Services

19.8.2022
The European Central Bank (ECB) is working to harmonize the regulatory framework governing crypto activities and services in the EU. The regulator noted that several regulatory initiatives at the European and international levels are being finalized. ECB’s Regulatory Plan for Crypto Assets...

South African Reserve Bank encourages friendly behavior with crypto

18.8.2022
The banking authority said avoiding risk through cutting off crypto-involved clients may pose a “threat” to financial integrity

US Federal Reserve Board Unveils Final Guidelines Used When Reviewing Requests for Access to Master Accounts

18.8.2022
The U.S. Federal Reserve Board has said it has released the final guidelines which are set to be used by Reserve Banks when “reviewing requests to access Federal Reserve accounts and payment services.” According to the board, the final guidelines will become effective as soon as they...

British Fintech Revolut Granted Crypto License in Cyprus

18.8.2022
U.K.-based digital bank Revolut has been authorized by Cyprus to provide cryptocurrency services to millions of customers on the Old Continent. The fintech firm says the regulatory approval will allow it to establish a European crypto hub in the island nation. Revolut to Expand Crypto Services...

Chinese Parents to Use Digital CNY ‘Smart Contracts’ to Pay for After-school Lessons

18.8.2022
A Chinese state-owned commercial bank is set to pilot a digital yuan-powered “smart contract solution” that allows elementary school parents to pay for their children’s education using the e-CNY.... Read More: Chinese Parents to Use Digital CNY ‘Smart Contracts’ to Pay for After-school Lessons

Senator asks FDIC about allegations it discourages bank relations with crypto companies

17.8.2022
Sen. Pat Toomey says he has information from whistleblowers that the FDIC without a legal basis is discouraging banks from dealing with companies with crypto links

European Central Bank addresses guidance on licensing of digital assets

17.8.2022
Specifically, the ECB will consider crypto firms’ business models, internal governance, and “fit and proper” assessments which apply to licensing other companies

Russia’s GDP Decline Less Severe Than Expected, Wall Street Returns to Russian Bonds, Putin Criticizes US ‘Hegemony’

17.8.2022
While the ongoing war in Ukraine continues, the Ministry of Economic Development of the Russian Federation detailed this week that Russia’s economic hardships are less severe than expected. Russia’s economic ministry says that the economy’s gross domestic product (GDP)...

World Bank Affiliate IFC Backs Blockchain-Based Platform for Carbon Offsets

17.8.2022
International Finance Corp (IFC), a World Bank affiliate focused on investment in less-developed countries, is backing a blockchain-based platform for the trading of carbon offsets

UK Group to Test Stablecoin Payments, Provide Data to Bank of England

17.8.2022
The Digital FMI Consortium will test cross-border payments and provide recommendations to the Bank of England using its own sterling-backed stablecoin

Colombia to prevent tax evasion with national digital currency: Report

17.8.2022
A national digital currency would help curb tax evasion in Colombia, which is estimated at up to 8% of GDP, the head of Colombia’s tax and customs agency said

El Salvador’s Chivo BTC App Largely Disused & ATM Booths ‘Empty’ – Report

16.8.2022
Under 2% of remittances made to El Salvador make use of the state-operated Chivo bitcoin (BTC) app and wallet – and bitcoin ATM booths in the nation are “empty” less than a year after their launch, a new report has claimed. But the government claims that the app is still popular among many...