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India Lists Cryptocurrency Bill to Be Taken up Parliament — Crypto Legislation Expected Before Year-End

24.11.2021
The government of India has listed a cryptocurrency bill to be taken up in the upcoming session of parliament that starts next week. The bill seeks to prohibit cryptocurrencies with some exceptions. It will also create a facilitative framework for a digital rupee to be issued by the Reserve Bank...

Crypto prices in India tumble after crypto bill announced

24.11.2021
The token prices on the Indian crypto exchange WazirX crashed following the announcement of a bill that would ban all private crypto

Bank of England sees CBDCs as a revolution for the future of money

23.11.2021
The Bank of England estimates that 20% of retail and consumer deposits could potentially move toward CBDCs

Eurosystem Approves New Oversight Framework Concerning Crypto Services

23.11.2021
The monetary authority of the euro area, the Eurosystem, has introduced a new framework for overseeing electronic payments, including services related to crypto assets. The new set of rules will complement upcoming EU regulations for cryptocurrencies and stablecoins. ECB Aims for Secure...

Nigerian Crypto and Blockchain Advocacy Group: Freezing or Closure of Bank Accounts Not Supported by Law

23.11.2021
The Blockchain Industry Coordinating Committee of Nigeria (BICCON), has said it is not lawful for Nigerian financial institutions to arbitrarily freeze or close bank accounts belonging to individuals or entities accused of trading cryptocurrency. Affected Crypto Entities Told to Seek Legal Advice...

Central Bank’s Targeting of P2P Crypto Transactions Forces Startup to Quit Nigeria

23.11.2021
The Nigerian startup behind the social payment app for cryptocurrency and fiat, Kurepay, says the Central Bank of Nigeria (CBN)’s current crackdown on crypto entities has forced it to suspend operations in Nigeria. ‘Horrible’ Year for Crypto Adoption According to a report...

Commonwealth Bank of Australia recognizes risks in missing out on crypto

23.11.2021
“We see risks in participating, but we see bigger risks in not participating,” said CBA CEO Matt Comyn on the bank’s recent crypto adoption play

After Overseeing the Largest Monetary Expansion in US History Biden Renominates Powell to Lead the Fed

22.11.2021
U.S. president Joe Biden revealed his intent on Monday to re-nominate Jerome Powell as the Federal Reserve chairperson. Major indices and stocks gained on the news that Powell will get a second term as the head of the central bank. Biden Chooses to Renominate Fed Chair Jerome Powell On Monday...

Kenya Central Bank Governor on CBDC: It’s About Getting It Right Rather Than Being First

22.11.2021
The Central Bank of Kenya (CBK) governor, Patrick Njoroge, has said his institution is currently exploring the use of central bank digital currencies (CBDC) to settle cross-border payments. Njoroge however insists the bank’s priority is getting it right rather than being the first....

Central Bank of Peru Will Develop a Digital Currency

22.11.2021
The Central Reserve Bank of Peru, the Peruvian central bank, is planning to develop a central bank digital currency (CBDC) like other economies of the world. The announcement was made by its president, Julio Velarde, who stated that the currency would be designed for use primarily in payments....

Crypto FOMO: Australia’s Largest Bank Sees ‘Bigger Risks in Not Participating’ in Crypto

21.11.2021
The CEO of Commonwealth Bank of Australia (CBA), the country’s largest bank, sees big risks in not participating in cryptocurrency. “We see risks in participating, but we see bigger risks in not participating,” he explained. Crypto FOMO, Banks Need to Get Involved, Says CEO...

Nigerian Remittances Rebound as Country Tops Sub Sahara Africa — Sending Costs Still High

21.11.2021
Nigeria is once again Sub Sahara Africa’s biggest recipient of remittances into the region where the money transfers went up by 6.2 percent to $45 billion, a new World Bank report has shown. The Impact of Nigerian Policies on Remittances According to the November 17, 2021 press release, this...

Russians to Pay Fees on Digital Ruble Transactions, Central Bank Says

21.11.2021
Users of Russia’s central bank digital currency are going to pay a fee for each transaction, a high-ranking representative of Bank of Russia has recently announced. The digital ruble charge, however, is not going to exceed those currently applied to fast payments in the country. Bank...

Opposed to Bitcoin Payments, Bank of Russia Says State Should Not Stimulate Spread of Cryptocurrencies

20.11.2021
Cryptocurrencies are anonymous and the government shouldn’t encourage their spread, the head of Bank of Russia has insisted. The regulator remains firmly opposed to the legalization of bitcoin and the like as a means of payment in the Russian Federation. Bank of Russia Reiterates Negative...

Digital Ruble Poses Risks to Financial Sector and Security, Russian Lawmakers Warn

20.11.2021
Russian parliamentarians have cautioned against risks associated with the introduction of a digital ruble. Among them are the likely increase of competition pressure on banks and new challenges that may arise in the field of information security. Financial Market Committee Sees Threats in Digital...

Ruling South Korean Party Makes Pro-Crypto Policy U-Turn

20.11.2021
The head of the ruling Democratic Party in South Korea has promised to make a dramatic U-turn on crypto policy, claiming that “the time has come” for the government to stop regulating crypto and start “fostering” the industry.... Read More: Ruling South Korean Party Makes Pro-Crypto Policy U-Turn

A US Fed Governor Argues That Stablecoins Scaling Fast is Not a Concern

19.11.2021
There is no reason to worry about fast-growing stablecoins if “sufficient competition” exists both within the industry and outside of it, a governor of the US Federal Reserve suggested in a speech this week.... Read More: A US Fed Governor Argues That Stablecoins Scaling Fast is Not a Concern