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Bank of England to experiment with wholesale CBDC, synchronization
30.7.2024
The BOE is considering applying DLT to its existing settlement system and introducing a wCBDC
Russia Legalizes Crypto Mining and Brings an Experimental Regime
30.7.2024
Russia's lower house of the Federal Assembly, known as the State Duma, has passed two crypto-related laws on Tuesday, a Russia based policy expert told CoinDesk and Ria Novosti, Russia's state-owned domestic news agency reported
Central Bank of Brazil Aims to Finalize Crypto Exchange Regulation by Early 2025
30.7.2024
According to Nagel Paulino, head of the Central Bank’s regulatory department, the Central Bank of Brazil hopes to finalize cryptocurrency market regulations by 2025. The institution will conduct a second public consultation to finalize the drafts, hearing the opinions of market participants...
Key Interest Rate Decisions Coming This Week From Fed, BOJ, BOE
30.7.2024
The Fed is expected to hold policy steady but indicate an imminent rate cut, while the Bank of England is seen easing policy and the Bank of Japan is likely to hike rates
Bank of England Plans Experiments with DLT and Wholesale CBDCs
30.7.2024
The Bank of England (BoE) is taking a proactive stance related to cryptocurrency, money, and payments. In a recently released discussion paper, the central bank outlined its plans to conduct a series of experiments with distributed ledger technology (DLT) and wholesale central bank digital...
Digital euro to be ‘most private electronic payment option’
30.7.2024
Since the inception of the digital euro, many critics have called the proposed digital currency a surveillance tool
Tether dominates with $113B post-SVB collapse — IntoTheBlock
30.7.2024
Tether’s market cap surges post-SVB collapse, driven by liquidity and accessibility, says ITB’s Vincent Maliepaard
Nigerian CBDC Adoption Lags, Makes Up Less Than 1% of Currency in Use
30.7.2024
Nigeria’s central bank digital currency, known as the eNaira, was the first of its kind in Africa. However, it currently represents only about 0.36% of the total currency in circulation. Nigerian experts attribute the slow adoption of the e-naira to its perceived lack of significant benefits...
Bank of England to Carry Out CBDC, Digital Ledger Experiments
30.7.2024
In a new discussion paper, the U.K. central bank also said it wants to ensure stablecoins are interchangeable with the pound
Ethiopia’s Birr Falls 30% After Currency Float; Forex Surrender Requirements Scrapped
29.7.2024
Ethiopia’s birr plunged 30% against the dollar after the central bank floated the currency as part of reforms aimed at correcting foreign exchange market distortions. The bank also eliminated foreign exchange surrender requirements and lifted restrictions on certain imports. In return...
University of Wyoming launches Bitcoin Research Institute
29.7.2024
The Bitcoin Research Institute will open in August as part of the University of Wyoming’s College of Arts and Sciences
Zambia De-Dollarization: Central Bank Seeks to Enforce Kwacha as Sole Legal Tender for Domestic Transactions
27.7.2024
The Bank of Zambia has defended its de-dollarization plans but also seeks input from stakeholders who oppose the proposal. The central bank governor clarified that they are not proposing anything new; instead, the bank aims to enforce existing laws designating the kwacha as the sole legal tender...
Philippines Plans to Introduce Wholesale CBDC by 2029
27.7.2024
Bangko Sentral ng Pilipinas (BSP) plans to introduce its wholesale central bank digital currency (CBDC) by 2029. The Philippine central bank’s CBDC initiative is near its proof-of-concept completion. “This is an innovative payment instrument,” said the BSP deputy governor....
BRICS Poised to Dominate World Bank and IMF, Says Russian Executive Director
27.7.2024
The World Bank Executive Director for Russia forecasts that BRICS nations will soon dominate the World Bank and the International Monetary Fund (IMF), attributing this shift to inevitable macroeconomic and demographic changes away from Western dominance. He emphasized the importance of working...
Digital Shekel Challenge: Bank of Israel Engages 14 Teams for Digital Currency Innovation
26.7.2024
The Bank of Israel has initiated the “Digital Shekel Challenge” to explore the potential of a central bank digital currency (CBDC) system inspired by the BIS Innovation Hub’s “Project Rosalind.” Fourteen teams from various sectors have been selected to propose innovative use cases....
Crypto-Friendly Revolut Finally Earns UK Banking License
25.7.2024
Revolut has entered a "mobilization stage", designed for new banks to operate with restrictions
Swiss Crypto Bank Sygnum Achieves Profitability Amid Rapid Growth
25.7.2024
Swiss-based crypto bank Sygnum has achieved profitability in the first half of 2024, marking a significant milestone in the digital asset industry. The bank’s success is attributed to robust growth across its core business segments, including custody, trading, and lending services. With assets...
Giesecke+Devrient: Ghana CBDC Nullifies the Need for Multiple Intermediaries in Cross-Border Payments
25.7.2024
The recently completed proof of concept by the Bank of Ghana and the Monetary Authority of Singapore demonstrated that the latter’s central bank digital currency enables cross-border payments, excluding many intermediaries and associated costs. Giesecke+Devrient (G+D) stated that the proof...
HSBC Australia to block all payments to crypto exchanges, citing scams
25.7.2024
At least six big Australian banks have taken such action now — a trend one industry executive says is stripping Aussies of their “financial rights” to participate in the digital economy
Crypto bank Sygnum posts profit after doubling crypto trading volumes
25.7.2024
Signum Bank says it's now eyeing further expansion into the European market, aiming to become fully MICA compliant by the first quarter of 2025