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South Africa Reserve Bank Commences Retail CBDC Feasibility Study
27.5.2021
The South African Reserve Bank (SARB) says it has commenced a feasibility study for a general-purpose retail central bank digital currency (CBDC). The study, which the SARB expects to conclude in 2022, will focus on the issuance of a domestic CBDC that can be used by consumers in South Africa...
Federal Reserve Bank President Says Most Cryptocurrencies Are Worthless
27.5.2021
The president of the Federal Reserve Bank of St. Louis, James Bullard, says that most cryptocurrencies are “worthless.” He noted that if “cryptocurrency can facilitate transactions that are difficult to make in conventional currencies, then they will have a purpose and might...
DBS Bank CEO: We Have Twice as Many Engineers as Bankers
26.5.2021
Banks and financial regulators should facilitate the tokenization of the financial system, DBS CEO Piyush Gupta said during Consensus 2021
Crypto.com Launches Major Step With BRL Bank Transfers and Brazilian Portuguese
26.5.2021
The text below is an advertorial article that was not written by Cryptonews.com journalists.
‘For the pursuit of financial freedom,’ General Manager of Latin America Filomena Ruffa has remarked on the ‘exceptional growth in digital banking and innovative financial solutions in Brazil. Indeed, with...
Central Bank of Nigeria Governor Says “Digital Currency Will Come to Life” but Attacks Volatile Cryptocurrencies
26.5.2021
Central Bank of Nigeria (CBN) governor, Godwin Emefiele, says digital currency “will come to life even in Nigeria” just a few months after the central bank ordered banks to stop serving the crypto industry. While acknowledging his country’s position as one of the leading crypto...
Banks cautious about crypto ahead of COVID-19 testimony before US Senate
26.5.2021
CEOs of major American banking institutions are heading to Washington to face legislators' questions about how they will aid a post-pandemic economic recovery
Zimbabwe’s Biggest Bank Looks at Methods to ‘Leverage Cryptocurrencies’
26.5.2021
One of Zimbabwe’s biggest financial institutions, CBZ Holdings says it is looking at ways it could “leverage cryptocurrencies and other emerging digital innovations.” According to the financial institution’s chairperson, Marc Holtzman, CBZ “is open-minded about...
Bank of England Governor Bailey Says Cryptocurrencies Are ‘Dangerous’
26.5.2021
Known for his reluctant stance on decentralized money, the Governor of Bank of England (BOA), Andrew Bailey, has recently taken his anti-crypto rhetoric up a notch. Speaking at a meeting with lawmakers in London, Bailey stated that cryptocurrencies are “dangerous.” Andrew Bailey Remains...
Goldman Sachs Says FOMO Is Driving Institutional Investors to Bitcoin
26.5.2021
Investment bank Goldman Sachs says institutional investors and asset managers are driven to bitcoin by “fear of missing out” (FOMO). Goldman now considers bitcoin a new asset class. Nonetheless, institutional investors are facing several strong barriers to entry into the crypto market....
Bank of Indonesia joins central bank digital currency race
25.5.2021
After banning crypto payments back in 2017, Indonesia is looking to allow payments in a digital rupiah currency
South Africa's central bank begins preliminary study for retail CBDC
25.5.2021
The South African Reserve Bank has begun exploratory studies on central bank digital currencies
Bitcoin not on the agenda for HSBC says bank's CEO
25.5.2021
HSBC will not be joining the growing list of major banks offering Bitcoin and crypto investment products to customers and clients
Bank of Korea Seeking Technology to Develop Digital Currency
25.5.2021
South Korea’s monetary policy regulator is taking steps to create its own digital coin. Bank of Korea is now looking for a technology provider to develop a test environment for the project. The news comes after major commercial banks expressed skepticism over their cooperation with domestic...
Goldman Sachs: Bitcoin Is Now Considered an Investable Asset, Clients Are Treating BTC as New Asset Class
24.5.2021
Global investment bank Goldman Sachs now considers bitcoin an investable asset. “Clients and beyond are largely treating it as a new asset class, which is notable — it’s not often that we get to witness the emergence of a new asset class,” said Goldman Sachs’ analyst....
HSBC Won’t Launch Bitcoin Trading Desk, CEO Says Bank Has No Plans to Offer Cryptocurrency Investments
24.5.2021
HSBC has confirmed its bitcoin and cryptocurrency stance as a growing number of major banks are beginning to offer crypto services. CEO Noel Quinn says that HSBC views bitcoin as an asset class rather than a payments vehicle but the bank is not rushing into providing cryptocurrency investments...
Former US Treasury Secretary Larry Summers Says Cryptocurrency Is Here to Stay as Digital Gold
23.5.2021
Former U.S. treasury secretary and chief economist at the World Bank, Larry Summers, says cryptocurrency is here to stay as a kind of digital gold. He believes that people want an alternative to gold that is “separate and apart from the day-to-day workings of governments.” Former World...
Fed Begins to Taper QE- US Central Bank Removes $351 Billion in Liquidity via Reverse Repos
22.5.2021
After pumping extreme amounts of liquidity into markets, the U.S. Federal Reserve seems to be tapering back monetary easing policy via reverse repos (RRP). Following this week’s published minutes report from the Fed’s April monetary policy meeting, it seemed as though members of...
China’s Absolute Control Over Digital Yuan Will Boost Demand for Cryptocurrencies, Says Analyst
22.5.2021
China’s push for the digital yuan will boost demand for cryptocurrencies, according to an analyst at BK Asset Management, citing that the Chinese government wants “absolute power” over the wealth and income of its citizens. Digital Yuan Push Could Raise Demand for Crypto Boris...
Nigeria Bureau De Change Association Boss Accuses Speculators of Destabilizing the Naira— Says Central Bank Funding Will End Currency Woes
22.5.2021
According to the head of the Nigerian group of bureau de change operators, the naira’s continued fall on the parallel market is down to the activities of speculators. However, Aminu Gwadabe, the president of the Association of Bureau de Change Operators of Nigeria (ABCON), suggests that only...
Dutch Central Bank Revokes Strict Verification Rules for Crypto Exchanges
21.5.2021
The cryptocurrency industry in the Netherlands has won a small but significant battle. The country’s central bank has canceled some excessive verification procedures that it imposed on crypto service providers last fall. The move comes after a local exchange took the matter to court....