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RBI Ban Stops Indian Police From Cashing Out Seized Crypto
4.10.2019
The effects of banking restrictions by the Reserve Bank of India (RBI) have reached an Indian police department. The police sold some cryptocurrencies they seized only to find out that they cannot access the Rs 8.42 crore (~$1.2 million) proceeds due to the current RBI banking ban. Also read:...
Zimbabwe Bans Popular Mobile Money Services From Paying out Fiat Cash
3.10.2019
Zimbabwe is once again showing the need to take away from politicians the power to control normal people’s money. The government there is now trying to cope with the results of mismanaging the economy by preventing citizens from using their fiat currency as they see fit. Also Read: Bittrex...
Two US Congressmen Urge the Federal Reserve to Consider Creating a ‘National Digital Currency’
3.10.2019
Members of the United States House of Representatives Financial Services Committee have now started to address the rise of cryptocurrencies. Two of U.S. Congressmen have asked the Federal Reserve of future plans to launch a digital version of the U.S. dollar. In a letter sent on Monday to...
US Lawmakers Ask Federal Reserve About National Digital Currency
3.10.2019
U.S. Representatives French Hill and Bill Foster have asked the Federal Reserve whether it will consider launching a national digital currency
US Congressmen Ask Fed to Consider Developing ‘National Digital Currency’
3.10.2019
"We are concerned that the primacy of the U.S. Dollar could be in long-term jeopardy from wide adoption of digital fiat currencies."
Trump Pressures Fed for More Rate Cuts as Mega Banks Drain the Balance Sheet
2.10.2019
U.S. President Donald Trump is pressuring the central bank to cut interest rates even further as a spike in oil prices has offset the Federal Reserve’s ‘normalization’ tactics like rate-cutting and overnight repos. Additionally, the mega bank JP Morgan Chase (JPM) is being blamed...
New Evidence Escalates Panic as RBI Still Limits Bank Withdrawals
2.10.2019
Customers of a cooperative bank with 137 branches across India still do not know the fate of their money, which was restricted by the central bank. Evidence of alleged bank fraud has since surfaced, but the RBI still insists that India’s banking system is safe, despite many citizens being...
Facebook Will Create ‘Shadow Banking’ System, Major U.S. Banks Warn
1.10.2019
Facebook’s Libra will potentially create a “shadow banking” system, according to the banks at the Federal Advisory Council
Central Banks in Panic Mode – Extreme Tactics Like Helicopter Money Discussed
30.9.2019
Central banks worldwide continue to inject more stimulus into the economy as they predict the onset of a new financial crisis. In the face of a sluggish economy, monetary easing, negative interest rates, and ‘normalizing’ the balance sheet is the name of the game these days. Now central...
To Improve the Resilience of its Financial System is Now a Priority for Reserve Bank of New Zealand
30.9.2019
Central banks all over the world are currently looking for a way to make their country’s financial system more efficient and in that regard, New Zealand is no different. In a new development, the Reserve Bank of New Zealand has indicated that the country’s financial system is good enough to tackle...
Protests Led RBI to Raise PMC Bank’s Withdrawal Limit
27.9.2019
The Reserve Bank of India has relaxed the withdrawal limit of 1,000 rupees (approximately $14) it placed on a cooperative bank a couple of days ago. The central bank said it aims to reduce the hardship of depositors after many heavy protests followed its original order. Also read: Panic at 137 Bank...
BTC and Quantitative Easing: What’s the Correlation to Crypto?
26.9.2019
Unconventional monetary policy is rife within the U.S. right now, and a step toward quantitative easing seems inevitable; BitMEX CEO Aurther Hayes believes this will send Bitcoin sky high, but will it?
‘No Argument’ for Replacing Dollar’s Global Role With Crypto: Ex-Fed Official
26.9.2019
The ex-official pushed back at a suggestion from the chief of the Bank of England that a Libra-like crypto should replace USD in global markets
Panic at 137 Bank Branches as RBI Limits Withdrawals to ₹1,000
25.9.2019
The Reserve Bank of India has imposed regulatory restrictions on a cooperative bank with 137 branches across India, including limiting customer withdrawals to a total of 1,000 rupees (approximately $14) per account for six months. Police personnel had to be deployed to control angry customers...
NY Fed Ploughs in $53 Billion to Save Overnight Lending Market Amid Turmoil in Financial Markets
18.9.2019
As everyone knows, easy availability of credit at favorable rates of interest is one of the backbones of the trading ecosystem in Wall Street. Hence, if there is a slight rise or any kind of fluctuation in that rate of short term borrowing, then the entire structure enters a risky zone. Every...
Will Bitcoin’s Price Rally After Federal Reserve Rate Cut?
17.9.2019
Bitcoin is down again, but observers believe the losses could be reversed after a U.S. interest rate cut expected Wednesday
As Global Economy Weakens, Federal Reserve All Set for Stimulus Pump
16.9.2019
It has been clear for quite a while that the global economy has been weakening for the past few months, and there has been a lot of speculation regarding the possible solutions to the impending trouble. The trade war between the United States and China is definitely one of the reasons behind...
Facebook ‘May Omit’ Yuan from Libra Reserve, Tether’s CNH-pegged Coin
10.9.2019
Facebook seems unlikely to include the Chinese yuan in the basket of fiat currencies that will underpin its forthcoming Libra token.
The company outlined its stance in a written response to “concerns” voiced by American Senator Mark Warner, who believes China may “push” the Libra Association...
UK Central Bank Governor Sees Digital Currency Displacing US Dollar as Global Reserve
23.8.2019
BOE governor Mark Carney called on Friday for the creation of a wholly digital alternative to the U.S. dollar
The World Bank’s Blockchain Bond Is Just a Fancy Way of Selling Debt
21.8.2019
Last year the World Bank and the Commonwealth Bank of Australia announced a permissioned Ethereum-based blockchain to facilitate the end-to-end issuance of bonds between financial partners. The Bretton Woods-created financial institution hopes to make debt capital markets far more efficient with...