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Bank of Russia Advises Stock Exchanges to Avoid Trading Crypto Instruments
23.7.2021
In line with its hardline stance on cryptocurrencies, the Central Bank of Russia (CBR) has issued a recommendation against the listing of securities tied to crypto assets on the country’s stock exchanges. The “preventive measure” will not affect state-issued digital currencies....
India’s Central Bank RBI Unveils Plan to Launch Digital Currency in Phases
23.7.2021
The deputy governor of the Reserve Bank of India (RBI) has revealed that the central bank is planning to launch a state-backed digital currency in phases so that it would have “little or no disruption to India’s banking or monetary systems.” RBI Plans ‘Phased...
Nigeria to pilot central bank digital currency in October
23.7.2021
The Central Bank of Nigeria will start the pilot of its central bank digital currency, which runs on the Hyperledger Fabric blockchain, on October 1
Switzerland’s Largest Bank UBS Says Clients Have Crypto FOMO
23.7.2021
UBS, Switzerland’s largest bank, says that clients are looking at different investment alternatives and there is a bit of a fear of missing out (FOMO) when it comes to cryptocurrency investments. UBS Says There Is a Bit of Fear of Missing Out The CEO of UBS Group AG, Ralph Hamers, talked...
JPMorgan Begins Offering 5 Cryptocurrency Funds to Clients
23.7.2021
Global investment bank JPMorgan has reportedly green-lighted its advisors to provide clients with access to five cryptocurrency funds. The funds are available to all JPMorgan’s wealth management clients seeking investment advice. The move makes JPMorgan the first large bank to expand crypto...
Reserve Bank of India mulls first steps toward an eventual CBDC
22.7.2021
RBI is looking for ways to test a CBDC while causing little to no disruption for the bank’s status quo
Kenyan Remittances Surged by 20% in H1, North America and Europe-Based Diaspora Contribute Over 80%
22.7.2021
According to the latest data from the Central Bank of Kenya (CBK), diaspora remittances inflows to the country surged to $1.75 billion in the first six months of 2021. This figure represents a nearly 20% increase from the $1.46 billion recorded in the same period last year. 2021 Inflows Set...
Future of Digital Euro ‘Not Clear Yet,’ Former Eurogroup Official Says
22.7.2021
Europe’s digital currency project has made some progress recently, with the Eurozone’s central bank moving to its next stage. Critics point, however, to the continuing lack of clarity around the design and purpose of the digital euro after a decade-long delay, if cryptocurrency is taken...
Bank of Russia asks stock exchanges to not list crypto-related firms
22.7.2021
The Bank of Russia’s new stock exchange recommendations do not apply to central bank digital currencies and authorized digital assets issued in Russia
China Offers Medics Digital Yuan Insurance Policy for Covid-19
21.7.2021
China’s first insurance policy using the digital yuan for settlement has been issued in Shenzhen, local media reported. The new product, targeting medical personnel exposed to coronavirus risks, is offered by the country’s largest insurer, Ping An. The financial giant also has fintech...
US Senators Seek to Forbid American Athletes From Receiving and Using Digital Yuan During Beijing Olympics
21.7.2021
Three U.S. senators have urged the United States Olympic & Paralympic Committee to forbid American athletes from receiving or using digital yuan during the Beijing Olympics. Raising many concerns, including privacy, they warned, “Olympic athletes should be aware that the digital yuan...
Digital yuan pilots expand to insurance industry for the first time
21.7.2021
China's central bank digital currency can now be used on insurance policies that offer various levels of compensation for diagnosis of or death due to COVID-19
America's Oldest Bank, BNY Mellon, Doubles Down On Its Crypto Strategy
21.7.2021
The oldest bank in the US, New York Mellon Corp., has joined another US-based financial giant State Street in order to develop "a platform to support the entire digital asset life cycle."
Both companies are now part of the consortium of banks that collaborate with London-based Puremarkets...
Mastercard Enhancing Program for Cryptocurrency Wallets and Exchanges
21.7.2021
Payments giant Mastercard has announced that its crypto card program is being enhanced for cryptocurrency wallets and exchanges. The company said, “Making the process simpler will allow more banks and crypto partners the opportunity to offer their consumers the choice of paying with...
Study suggests Canadian CBDC could promote digital innovation within the country
20.7.2021
The Bank of Canada suggested that a Canadian CBDC could provide a number of innovations, including the elimination of transaction fees from debit and credit cards
Crypto is an ‘untested asset category,’ says UBS CEO Ralph Hamers
20.7.2021
The UBS chief said the bank continues to urge caution when it comes to crypto exposure for its clients
Bank of Korea selects Kakao’s blockchain arm for digital won tests
20.7.2021
ConsenSys, a major Ethereum software company, will contribute its technology to South Korean CBDC simulations led by Ground X
South African Central Bank Warns Citizens Against Accepting Tainted Banknotes
20.7.2021
A week after more than 1,400 ATMs in South Africa were attacked during a looting spree, the country’s central bank is now asking citizens to reject banknotes that are stained with traces of blue and green ink. Increasing Circulation of Stained Banknotes According to an EWN report, the South...
Investment Advisor Says Bitcoin Is ‘Very Dangerous to Hold Today’ Citing Warnings by Regulators
20.7.2021
Investment advisor and former Prudent Bear Fund manager David Tice has warned about investing in bitcoin. Citing “negative statements” by central bankers and regulators, such as the Bank of England, he said that it is “very dangerous to hold” bitcoin today. Investment...
As the Stock Market Dives Report Shows ‘US Households Now Have Record High Exposure to Stocks’
19.7.2021
While inflation has kicked up in the U.S., following the massive stimulus issued by the Federal Reserve, investor and financial writer Lyn Alden Schwartzer published a report that shows “U.S. households now have record high exposure to stocks.” The news comes at a time when many...