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Singapore MAS proposes digital money standards with major industry players
21.6.2023
The Monetary Authority of Singapore, with input from major tech giants, released a whitepaper on the standards for digital money usage such as CBDCs and stablecoins
Russian Investigator Took Over 1,000 BTC in Bribe Money From Hackers, Report
7.6.2023
An investigator working in Moscow has been caught with a record-breaking bribe paid by a hacking group in cryptocurrency. According to a Russian press report, the corrupt official accepted millions of dollars’ worth of bitcoin and saved the digital money for his retirement years....
Stablecoins Cannot Function as Money Because They Have No ‘Assured Value’ — Bank of England Governor
14.4.2023
Andrew Bailey, the governor of the Bank of England, has asserted that stablecoins “will need to have the characteristics of, and be regulated as, inside money” before they function as money. Bailey also described crypto as a “highly speculative investment” with no intrinsic...
Arizona Senator Launches Bill to Make Bitcoin Legal Tender
27.1.2023
A senator in the U.S. state of Arizona has introduced a set of cryptocurrency bills, one of which seeks to make bitcoin legal tender. “Centralized digital money controlled by the central bankers is slavery. Decentralized bitcoin is freedom,” the lawmaker said. Arizona Lawmaker Wants...
New York Fed and 9 Major Banks to Test ‘Interoperable Network of Central Bank Wholesale Digital Money’
19.11.2022
Nine major financial institutions and the Federal Reserve Bank of New York have started to experiment with a digital dollar proof of concept to see if distributed ledger technology can improve settlement between central banks, commercial banks, and regulated non-banks. The New York Fed details that...
Namibian Central Bank: Virtual Assets ‘Remain Without Legal Tender Status’ but Merchants Can Still Accept Them as Payment
6.10.2022
The Bank of Namibia recently said it has brought virtual assets and virtual asset service providers under its fintech innovations regulatory framework, and that it plans to amend applicable laws and regulations. According to the central bank’s governor, there is an ongoing “battle...
Report: IMF Warns Kenyan Central Bank Against Introducing a CBDC That Harms Fintechs and Banks
29.7.2022
The global lending institution, the International Monetary Fund (IMF) has told the Kenyan central bank that its proposed digital shilling must “do no harm” to existing private sector digital money. The lender insisted the proposed central bank digital currency (CBDC) must “not...
The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin
20.7.2022
UAE Charitable Foundation Receives Approval to Accept Crypto Donations
5.6.2022
Al Jalila Foundation, the United Arab Emirates charitable organization, recently announced that it has been given permission to accept cryptocurrency donations. Accepting cryptocurrencies makes it possible for the foundation to receive funding via what is described as one of the fastest-growing...
Hong Kong Police Arrest Conman After He Vanished With Over $191K Belonging to a Crypto Trader
13.5.2022
Hong Kong police have arrested a man accused of stealing $191,085 from a cryptocurrency trader in what turned out to be a bogus transaction. No funds were recovered at the time of the suspect’s arrest and investigations are ongoing to determine if the man had accomplices. No Funds Recovered...
Joe Rogan Says Bitcoin Is ‘Freaking Out’ Government, the Latest on Inflation, and More — Bitcoin.com News Week in Review
8.5.2022
Another whirlwind week in crypto draws to a close, and of course there’s no shortage of spicy stories and new, compelling narratives in the world of innovative digital money. This week, Elon Musk gives investment advice, United States Securities and Exchange Commission chair Gary Gensler...
Cryptocurrencies Carry Systemic Risks, Threaten Ruble, Bank of Russia Insists
13.4.2022
The spread of cryptocurrencies brings significant risks for Russia’s economy, financial stability, and national fiat, the monetary authority in Moscow has reiterated. The central bank has reaffirmed its hardline stance on decentralized digital money in a new report published as...
Law Decoded: States’ crypto rights and the influx of digital money into analog politics, Feb. 7–14.
14.2.2022
As U.S. Congress continues its crypto education at a measured pace, states race to explore the benefits of financial innovation
IMF: Crypto Is No Match for Well-Designed Central Bank Digital Currencies
14.2.2022
The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, says that crypto assets and stablecoins are no match for well-designed central bank digital currencies (CBDCs). “If CBDCs are designed prudently, they can potentially offer more resilience, more safety...
Russian Government Drafts Roadmap to Regulate, Not Ban Crypto, Report Unveils
29.1.2022
A roadmap on cryptocurrencies has been prepared by a number of ministries, regulatory bodies, and law enforcement agencies, Russian media reported. The document, which aims to regulate Russia’s crypto market by the end of this year, comes amid disagreements between the central bank and other...
Bank of Russia Proposes Wide Ban on Cryptocurrency Use, Trade, Mining
21.1.2022
True to its hardline stance on decentralized digital money, the Central Bank of Russia is now pushing for a wide-ranging ban on crypto-related activities such as issuance, exchange, and mining. A consultation paper published by the regulator cites threats to financial stability and citizens’...
Bank of Russia Wants to Ban Mutual Funds From Investing in Cryptocurrency
15.12.2021
Russia’s central bank intends to prohibit mutual funds from acquiring crypto assets or related financial instruments. The proposal, which is in line with its hard line stance on decentralized digital money, comes after the regulator urged stock exchanges to avoid trading securities tied...
Founder of Africa-Focused Media Firm Urges Continent’s Governments to Embrace Crypto
23.11.2021
The founder of Africa-focused media and investment company Footprint to Africa, Osita Oparaugo, has urged governments on the continent to embrace cryptocurrency. Africa Must Not Be Left Behind Osita Oparaugo, founder of Footprint to Africa, has argued that a timely embrace of cryptocurrencies...
Russia’s Prosecutor General Wants Cryptocurrency Recognized as Property Under Criminal Law
18.11.2021
The Prosecutor General’s Office of Russia has proposed to define cryptocurrency as property in the country’s Criminal Code. Decentralized digital money has already been qualified as such in the provisions of several other laws although various aspects of cryptocurrencies remain...
IMF Head Says Central Bank Digital Currencies Are Reliable, Hard to Think of Bitcoin as Money
6.10.2021
Digital currencies backed by central banks are the most reliable form of digital money, according to IMF managing director Kristalina Georgieva. At the same time, to think of cryptocurrencies such as bitcoin as money is difficult, believes the chief executive of the international financial...