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Belarus Sanctions ‘Antidote?’ Minsk Confirms ‘Blockchain-powered CBDC’ Launch
7.2.2024
Minsk is looking for ways to end Belarus’ sanctions woes, with its central bank confirming the planned launch of a blockchain-powered CBDC. Per Sputnik Belarus, the National Bank of Belarus (NBB) is keen to make use of smart contract technology. A spokesperson told reporters on February 3: “We plan...
The Big Misunderstanding: What MiCA Really Means for Stablecoins in Europe
6.2.2024
The EU's comprehensive crypto guidance does not introduce entirely new regulations for fiat backed stablecoins, former central banker Jón Egilsson writes. Instead it affirms existing rules that many current issuers are not yet following
Egypt Aims to Ease Pressure on Forex Reserves via $1 Billion Treasury Bill Auction
6.2.2024
Barely a month after raising $850 million from an auction of dollar-denominated treasury bills, the CBE was reportedly poised to raise $1 billion via similar instruments. The decision to hike overnight interest is said to be part of the central bank’s ongoing efforts to stabilize Egypt’s...
Trump Calls CBDC a “Very Dangerous Thing,” Criticizes Artificial Intelligence
5.2.2024
Former president and leading Republican presidential candidate Donald J. Trump called the prospect of a central bank digital currency (CBDC) a “very dangerous thing” during a February 2 interview on Fox Business. Trump Doubles Down On Anti-CBDC Stance Fielding questions from Maria Bartiromo, Trump...
Donald Trump Calls CBDCs and Artificial Intelligence 'Dangerous'
5.2.2024
The Republican frontrunner also said that AI-powered deepfakes were a "tremendous problem."
Nigeria Forex Crisis: Central Bank Removes Cap on Exchange Rate for International Money Transfer Operators
4.2.2024
The Central Bank of Nigeria announced on Jan. 31 that it had removed caps on naira payout rates that international money transfer operators are allowed to quote. The central bank said the policy change is an effort aimed at further liberalizing the foreign exchange market. The naira’s Feb.1...
Veteran Investor Jim Rogers on Crypto: Bitcoin Unlikely to Become Money, Governments Favor CBDCs
3.2.2024
In a new interview, Jim Rogers, who helms Rogers Holdings Inc. and was a co-creator of the Quantum Fund alongside George Soros in the 1970s, shared his observation of “various signs that something is going to go wrong soon” within the U.S. economy, predicting an impending recession....
Project Mbridge Reaches Milestone: First Digital Dirham Cross-Border Settlement Goes Through
3.2.2024
The first cross-border digital dirham payment was completed by Sheikh Mansour Bin Zayed Al Nahyan, Chairman of the Board of the Central Bank of the UAE, using the Mbridge platform, a central bank digital currency (CBDC) liquidity and interconnection tool. The settlement involved sending 50 million...
Reserve Bank of India Furthers CBDC Efforts: Report
2.2.2024
The Reserve Bank of India (RBI) is now exploring tech solution for privacy concerns of central bank digital currency (CBDC). According to an insider who is familiar with the government’s CBDC moves, India is making progress in CBDCs with caution. The unnamed source told CoinDesk that the central...
UAE and China Complete First $13.6M Cross-Border CBDC Transaction
2.2.2024
The United Arab Emirates and China have executed their first cross-border central bank digital currency (CBDC) transaction valued at $13.6 million using digital dirham and digital yuan. According to People.cn, the 50-million-dirham ($13.6 million) transaction occurred via the m-CBDC Bridge platform...
30 Banks Participating in Russia’s Central Bank Digital Currency Pilot
2.2.2024
The number of banks participating in Russia’s central bank digital currency pilot has increased to 30. Seventeen banks have signed an agreement with the Bank of Russia to participate in the digital ruble program. They will join 13 other banks, about 600 citizens, and 30 trading and service...
India CBDC Insider Reveals Current Stance of Country's Central Bank
2.2.2024
India’s central bank is taking a very cautious approach in developing its digital rupee, a senior official familiar with India’s central bank digital currency (CBDC) pilot programs told CoinDesk, though it's making some progress
Group of 17 Russian Banks Officially Joins ‘Second Stage’ of Digital Ruble Pilot
2.2.2024
Russia’s digital ruble pilot is gathering pace, with 17 more banks joining the Central Bank’s CBDC project. The group of banks includes heavyweights such as Sberbank and Tinkoff, the Central Bank explained in an official statement. This represents a major coup for the Central Bank. Both Sberbank...
US Banking Sector Volatility — Distressed Commercial Real Estate Sector Raises Default Concerns
1.2.2024
Following the U.S. central bank’s decision to keep the federal funds rate unchanged, the turbulence in the commercial real estate market has sent shockwaves through the country’s banking sector and internationally as well. On Thursday, New York Community Bancorp witnessed a further...
Russia Open to the Use of Crypto in Foreign Trade Says Central Bank Governor
1.2.2024
The Russian Central Bank is discussing the possible use of central bank digital currencies as a payment method in foreign trade, according to Elvira Nabiullina, the bank’s governor. Nabiullina stated that while Russia is opposed to the use of crypto payments in domestic transactions, the country...
EU Moves to Ban Bitcoin to Meet Energy Goals – Report
31.1.2024
Source: Pixabay A recent report has indicated that Proof-of-Work (PoW) consensus networks, like Bitcoin, may be banned in the European Union (EU). Daniel Batten, a managing partner at CH4 Capital, shared on his X (formerly Twitter) handle that the European Central Bank (ECB) and European Securities...
Belarus Actively Developing CBDC Platform on Hyperledger Fabric Blockchain
31.1.2024
Belarus is at the forefront of financial innovation as it takes significant strides towards introducing its Central Bank Digital Currency (CBDC), the digital Belarusian ruble. In collaboration with the Center for Banking Technologies, the National Bank of Belarus is leveraging the open Hyperledger...
Fed Maintains Interest Rates, Seeks ‘Greater Confidence’ on Inflation Goal; Bitcoin and Gold Hold Steady
31.1.2024
On Wednesday, Jan. 31, 2023, the U.S. Federal Reserve opted to maintain the federal funds rate unchanged. The Federal Open Market Committee (FOMC) additionally stated that the committee “does not expect it will be appropriate to reduce the target range until it has gained greater confidence...
Russia’s Central Bank Exploring Use of Crypto, CBDCs with BRICS Allies
31.1.2024
The Governor of Russia’s Central Bank says she is speaking to BRICS member states about using “digital currencies” to power international trade. Per RIA Novosti and 1Prime, the bank’s long-serving Governor Elvira Nabiullina said the Central Bank was “currently holding consultations with friendly...
UAE Central Bank Completes First Cross-Border Digital Dirham Transfer Using mBridge CBDC Platform
30.1.2024
The Central Bank of the United Arab Emirates (UAE) achieved a significant milestone by conducting its inaugural cross-border digital dirham transfer using the mBridge central bank digital currency (CBDC) platform on January 29. The transaction involved the transfer of 50 million digital dirhams...