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India Asks IMF and FSB for Joint Paper to Help Formulate ‘Comprehensive’ Crypto Policy
26.2.2023
India has asked the International Monetary Fund (IMF) and Financial Stability Board (FSB) to develop “a synthesis paper” on crypto assets as part of the G20 meeting of finance ministers and central bank governors under India’s presidency. “This would help in the formulation...
IMF Calls for ‘More’ Crypto Regulation — Says Banning Should Be an Option
26.2.2023
International Monetary Fund (IMF) Managing Director Kristalina Georgieva says crypto needs “more regulation.” She added, “We should not take off the table banning those assets,” if regulation fails or is too slow to implement. IMF’s Chief Calls for More Crypto...
IMF Board Offers Guidance for Developing Effective Crypto Policies
25.2.2023
The executive board of the International Monetary Fund (IMF) has provided guidance for member countries to develop effective crypto policies. The board stressed the need to develop comprehensive crypto regulations to “better mitigate the risks posed by crypto assets while also harnessing...
5 ways CBDCs could impact the global financial system
24.2.2023
CBDCs could revolutionize the financial system by increasing efficiency, transparency and financial inclusion while reducing the use of cash
IMF Board 'Generally Agreed' Crypto Shouldn't Be Legal Tender
23.2.2023
Outright crypto bans aren’t ideal but shouldn’t be ruled out, the International Monetary Fund leadership said
BIS General Manager Casts Doubt on Stablecoins, Claiming Tokens Do Not Benefit From Regulations or Central Planning
22.2.2023
According to Agustin Carstens, the head of the Bank for International Settlements (BIS), cryptocurrencies have lost the “battle” against fiat currencies issued by the world’s central banks. While speaking at the Monetary Authority of Singapore on Wednesday, Carstens stressed that...
Hong Kong Backs Web3 With $6.4M in Annual Budget
22.2.2023
The city's Financial Secretary will lead a task force dedicated to development of virtual assets
How Hong Kong Is Gearing Up to Regulate Stablecoins
21.2.2023
Requiring foreign entities who have already issued stablecoins to set up a Hong Kong entity for issuing stablecoins might throw up complications
Expert Predicts Looming Economic Collapse as BRICS Nations Unite Against the Dollar
20.2.2023
Andy Schectman, CEO of Miles Franklin Precious Metals Investments, explained in a recent interview that the five leading emerging economies—Brazil, Russia, India, China, and South Africa, collectively known as BRICS nations—are “coalescing against the dollar.” Schectman believes that...
Bank of Russia to Start Testing Digital Ruble With Real Users on April 1
20.2.2023
The Central Bank of Russia plans to launch test operations with digital ruble transactions between real customers at the beginning of April. More than a dozen banks will join the upcoming stage of the pilot project, a high-ranking representative of the bank announced to Russian media. Russia’s...
Moody’s Says Forex Shortages May Force Nigerian Central Bank to Delay Repaying Local Banks
17.2.2023
The persistent scarcity of foreign exchange may force the Nigerian central bank to delay repaying the $10.4 billion owed to local banks, analysts at Moody’s Investors Service have concluded. The central bank’s failure to pay its debts on time will likely force the affected financial...
No, Hong Kong Won’t Be Allowing Retail Traders Access to Crypto on June 1
17.2.2023
A tweet suggesting the city will make crypto “fully legal” for all citizens is a misreading of the legislation
Report: Flutterwave CEO in Bid to Recover Millions Stuck in Kenya
14.2.2023
According to reports, the CEO and co-founder of the Nigerian fintech Flutterwave, Olugbenga Agboola, recently visited Kenya where he sought to convince the country’s monetary authorities to grant the firm access to funds that have been blocked since July 2022. Agboola claimed that his firm...
India Having ‘Detailed Discussions’ With G20 Members on Crypto Regulation
14.2.2023
India is having “detailed discussions” with other G20 members about forming a collective standard operating procedure (SOP) to regulate crypto assets, Indian Finance Minister Nirmala Sitharaman has revealed. She also called for “a globally coordinated approach on the regulation...
Bridgewater CIO Warns of Deeper, Longer, and ‘Much More Painful’ Recession Than What We’re Accustomed To
13.2.2023
Bridgewater Associates’ co-chief investment officer has warned about a recession that is “much more difficult” and “much more painful” than what we’ve been accustomed to. “The dam has been broken where fiscal policymakers are now part of the story,”...
Monetary policy: Definition, types and tools
12.2.2023
Monetary policy refers to the actions taken by a central bank to manage the money supply and interest rates in an economy
IMF Report on El Salvador’s Bitcoin Adoption: Risks Averted, but Transparency Needed
12.2.2023
According to a recent mission statement published by the International Monetary Fund (IMF), El Salvador has adopted bitcoin as legal tender and has avoided risks so far. The IMF states that the risks have not materialized due to the limited use of bitcoin. However, the United Nations financial...
El Salvador’s ‘limited’ use of Bitcoin prevents forecasted risks, says IMF
12.2.2023
The IMF has suggested that El Salvador “reconsider” its plans for Bitcoin, following a recent visit to the country
Gold Coins Help Zimbabwe Achieve ‘Price and Exchange Rate Stability’ — Central Bank
10.2.2023
The Reserve Bank of Zimbabwe recently revealed that some 25,188 of its value-preserving gold coins were sold between July 2022 and Jan. 13. According to the central bank governor, John Mangudya, the gold coins “have proved to be an effective open market instrument for mopping up excess...
Nouriel ‘Dr. Doom’ Roubini Warns About Demise of US Dollar
8.2.2023
Nouriel Roubini, an economist known as “Dr. Doom,” has warned about the demise of the U.S. dollar and the rise of a “bipolar” world. Roubini believes that the Chinese renminbi might be a substitute for the dollar, as new technologies like central bank digital currencies...