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South African Central Bank Now Considers Cryptocurrency to Be a Financial Asset
15.7.2022
The deputy governor of the South African Reserve Bank (SARB) recently said the institution has changed its position on cryptocurrency, and now regards it to be a financial asset which must be regulated as such. The SARB expects to have a cryptocurrency regulatory framework in place by the end...
Bank of America Predicts US Recession This Year as Inflation Hits 40-Year High
15.7.2022
Bank of America has forecasted that the U.S. economy will slide into a recession this year. “A number of forces have coincided to slow economic momentum more rapidly than we previously expected,” the bank’s economists said. US Economy Heading Into a Recession This Year, Says...
Following Terra’s Lehman Moment, What’s Next for the Market?
15.7.2022
Adi Ben-Ari is the Founder and CEO of data security specialist Applied Blockchain.
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The collapse of TerraUSD and Luna in May, and the associated tailspin in the crypto market, have prompted observers from both within the decentralized finance (DeFi) space and externally to ask the...
NYDIG to Provide the New York Yankees With Bitcoin Payroll Services
14.7.2022
On July 14, 2022, the bitcoin company NYDIG, a subsidiary of Stone Ridge, announced that the firm inked a multi-year deal with the Major League Baseball (MLB) team the New York Yankees. According to the partnership announcement, NYDIG will be the professional baseball team’s “official...
Brazil’s Largest Private Bank Itaú to Launch Tokenization Platform, May Eventually Offer Crypto Trading
14.7.2022
Itaú’s new business unit will, among other things, offer crypto custody services for its customers
Philippines’ digital transformation could make it a new crypto hub
14.7.2022
The archipelagic country of the the Philippines is exploring blockchain use cases across different industry verticals
ECB Calls for Urgent Regulation of Stablecoins and Defi, Won’t Rule Out Bitcoin Mining Ban
14.7.2022
A new report by the European Central Bank (ECB), presented as a “deep dive into crypto financial risks,” calls for “appropriate” regulation and oversight of stablecoins and decentralized finance (defi). It also addresses the hot topic of Bitcoin’s carbon footprint...
South African exchanges welcome the new 'crypto is financial asset' ruling
14.7.2022
Major South African exchanges have welcomed the central bank’s plans to regulate cryptocurrencies as financial assets
Thunes Partners Attijariwafa Bank to Expand Payout Services
14.7.2022
Thunes recently partnered with the Attijariwafa bank to expand its bank payment services across Morocco. The global payments provider will enable over 30 million bank account holders in Morocco to get inbound payments into their accounts. As one of the biggest financial entities in Africa...
Why Migrants Are Turning to Crypto: The Key to Attaining the UN Goal to Reduce Remittance Costs to Less Than 3% by 2030
14.7.2022
The cost incurred by African migrants or expatriates when sending funds via the so-called formal corridors remains way above the UN target of less than three percent, the latest data from the World Bank has shown. On the other hand, the cost is much lower than the target when cryptocurrencies...
Bank of Russia Says Stablecoins Are Not Suitable for Settlements
14.7.2022
The Central Bank of Russia has spoken out against stablecoins, which it says are highly risky and not fit for payments. The monetary authority reacted to a statement by a top finance ministry official who suggested that his department would support the development of Russian stablecoins....
State-Owned Swiss Bank Postfinance to Offer Clients Direct Access to Crypto Market
14.7.2022
Swiss post office’s banking unit, the state-owned Postfinance, is reportedly preparing to enter the crypto market. “Our clients want direct access to this market through their house bank.” Swiss Post Office’s Banking Arm to Enter Crypto Market The banking and financial...
China's central bank to expand deployment of e-CNY
13.7.2022
Over 4,567,000 merchants across the country now accept the e-CNY as payment
South African Central Bank Reverses Course on Crypto Regulation
13.7.2022
South African Reserve Bank (SARB) Deputy Governor Kuben Naidoo has said "our view has changed" from five or six years ago when there was "no intent on regulating this from a currency point of view" to regarding crypto "as a financial asset that we hope to regulate."
Shanghai included blockchain, NFTs and Web3 in its 5-year plan
13.7.2022
The municipal government pledged to support the enterprises that are discovering the non-fungibles market
Russian Blockchain Alternative to SWIFT to Prevent Disconnection of Nations, Banks
13.7.2022
A Russian university is ready to test its blockchain-based analogue to the global payment messaging network SWIFT, from which Russian banks were cut off as part of Western sanctions. The developers say their system would not allow the disconnecting of countries and banks. Russian Developers Create...
Bitcoin not a currency? South Africa to regulate crypto as financial asset
13.7.2022
South Africa’s Reserve Bank will regulate cryptocurrencies as financial assets, and new laws are expected over the next 12 months
Here's the 'Final Guidance' on 'Stablecoin Arrangements' by BIS and IOSCO
13.7.2022
The Bank for International Settlements (BIS) wants to create a set of standards for the stablecoin industry that will cover payments, clearings, and settlements.
In a report released today and shared with Cryptonews.com, the BIS’ Committee on Payments and Market Infrastructures and...
US Treasury study finds CBDCs a plus for commercial bank stability
13.7.2022
Access to CBDCs reduces banks’ need to insure against liquidity risks and gives policymakers greater information about trouble in the financial system, according to the study
French central bank head announces beginning of wholesale digital euro project phase 2
12.7.2022
The French presidency of the European Union winds down with the completion of wCBDC experiments, design of proprietary blockchain and automated market maker platform