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Deutsche Bank: Bitcoin Now 3rd Largest Currency, Too Important to Ignore
22.3.2021
Deutsche Bank has published a report stating that bitcoin is too important to ignore, noting that it is now the third-largest currency in terms of the total value in circulation. In addition, the bank says that governments and central banks know that cryptocurrencies are here to stay and...
Nigeria's central bank not discouraging people from trading crypto, says governor
21.3.2021
The governor of the Central Bank of Nigeria has seemingly softened his stance on crypto for individuals, if not banks
Central Bank of Nigeria Official Reiterates Nigerian Residents Free to Trade Cryptos: Directive Only Applies to Banking Sector
21.3.2021
A senior executive with Nigeria’s central bank, Adamu Lamtek, has reportedly denied that his institution had placed restrictions on the use of cryptocurrencies. Instead, Lamtek, who is the deputy governor responsible for corporates services at the Central Bank of Nigeria (CBN), says...
Thai Central Bank Declares Baht-Pegged Stablecoin Illegal in Violation of Currency Law
21.3.2021
Thailand’s central bank has declared a stablecoin pegged to the Thai Baht illegal, citing violation of the country’s currency law. The Bank of Thailand (BOT) is currently working on a regulatory framework for stablecoins. Thailand Bans Baht-Pegged Stablecoin The Bank of Thailand,...
Bank of Thailand plans to regulate asset-backed stablecoins this year
19.3.2021
After issuing a warning against a Baht-pegged stablecoin produced by a South Korea-based firm, Thailand plans to introduce a series of regulations for stablecoins in 2021
Thai Central Bank Sets A Precedent By Banning Baht-pegged Stablecoin
18.3.2021
Source: iStock/Jan-Otto
The Thai central bank, the Bank of Thailand, has taken the unprecedented step of banning a fiat baht-pegged stablecoin, claiming that it could undermine the Thai public’s confidence in the existing financial system.
The stablecoin in question is the THT, the brainchild...
Thailand’s central bank warns against ‘illegal’ THT stablecoin
18.3.2021
The Baht-pegged stablecoin produced by Terra has come under fire from Thai bankers
French Lawmaker Signs Petition to Allow Central Bank to Buy and Hold Bitcoin
14.3.2021
A French parliament member has signed a petition to amend the laws to enable the central bank of France to buy and hold bitcoin as well as other cryptocurrencies. The petition urges lawmakers to urgently consider the matter, warning that not owning bitcoin will put France “in a financially...
Goldman Sachs Reports Rising Customer Demand for BTC: Predicts an ‘Explosion’ in the Use of Digital Currencies
12.3.2021
John Waldron, the chief operating officer (COO) of Goldman Sachs, says the financial services giant is seeing rising customer demand to own and invest in bitcoin. Nevertheless, the COO explained that his organization was still exploring ways of satisfying this demand without running afoul...
Bank of Russia to start digital ruble trials in 2022
11.3.2021
The Bank of Russia hopes to complete a prototype platform for a digital ruble by the end of 2021
Chinese banks pilot digital yuan at Shanghai department stores
11.3.2021
The Bank of Communications and China Construction Bank conducted digital yuan trials at two major department stores in Shanghai
South Korean Shinhan Bank pilots digital currency platform with LG CNS
10.3.2021
South Korean commercial bank Shinhan Bank has built a digital won pilot platform in collaboration with LG CNS
1.2 Billion People Live Under Double-Digit Inflation, ‘Many Have Found Escape in Bitcoin’ Says HRF’s Alex Gladstein
9.3.2021
While central banks are focusing on creating more stimulus and economists expect inflation in the U.S. to rise, a number of other countries are suffering from considerable inflation right now. On Monday, the chief strategy officer for the Human Rights Foundation, Alex Gladstein, explained that...
Reserve Rights (RSR) gains 300% as stablecoins gain regulatory approval
9.3.2021
Global stablecoin adoption and uncontrolled hyperinflation in Venezuela and Argentina have helped push Reserve Rights to a new all-time high
Central Bank of France Considers Ripple a Potential Platform for the Digital Euro
9.3.2021
A 44-page report commissioned by CPA Australia states that Government and their central banks view the Ripple Network and its native currency, the XRP coin, more favorably compared to Bitcoin and Ethereum because of their centralized nature. The report titled “Central Bank digital currencies:...
Nigeria to Pay 1.2 Cents for Each Dollar Remitted to the Country to Combat Cryptocurrency Use
9.3.2021
The Central Bank of Nigeria (CBN) has announced a scheme that seeks to boost international remittances as well as to encourage the use of official corridors when retrieving funds. The CBN’s move to incentivise recipients follows the plummeting of the country’s official remittances...
Hosting a CBDC? Only one of Bitcoin, Ethereum or XRP can do it, says report
8.3.2021
Not all cryptocurrencies have the attributes desired by central banks for hosting CBDCs
US Court Sentences Another Centra Tech Co-Founder to 8 Years in Jail
8.3.2021
Sohrab Sharma, a co-founder with the now-defunct Florida cryptocurrency firm, Centra Tech, has been sentenced to eight years in prison after he pleaded guilty to charges of duping investors via a fraudulent initial coin offering (ICO). Additionally, the court has ordered Sharma to forfeit...
Ripple Marches Towards New Project for Central Banks
4.3.2021
Ripple, a global payments solution provider, made an official announcement about its new endeavor that focuses on creating a similar format based on its native XRP ledger. This pilot project is set to create a wave in the Central banking system by enabling them to create and run their...
Banks Turn Away Customer Deposits due to Negative Interest Rates in Germany
4.3.2021
Banks in Germany are reportedly turning customer deposits away due to the negative interest rate imposed on them by the European Central Bank (ECB). Some banks are even offering online tools to help customers take their deposits elsewhere. Negative Interest Rates Imposed by ECB Force Banks to Turn...