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A Look at Why Venezuela Is the Third Country With the Most Crypto Adoption
28.5.2021
Venezuela has been listed as the third country with the most cryptocurrency adoption in the world by Chainalysis in its 2020 report. With its citizens coping with crippling inflation and losing purchasing power, the country has taken a turn for these assets to survive. But what are the real numbers...
Crypto will ‘come to life’ in Nigeria, central bank governor says
28.5.2021
Emefiele said the Nigerian government will do its best to prevent crypto from being used to finance illicit activities
Nigeria’s Naira Loses Ground on Forex Black Market Just a Few Days After Devaluation
28.5.2021
The Nigerian naira currency lost further ground against major currencies after it depreciated to 493 nairas for one dollar on the black market on May 25, 2021. Before the latest depreciation, the currency had stabilized at around 485 nairas to the dollar. This was shortly after the exchange rate...
OKex embraces Brazil’s official fast payments system PIX, as CBDC draws nearer
28.5.2021
OKEx, Crypto.com, and LocalBitcoins have integrated Brazil’s PIX instant payments system
Hope for South Korean Crypto Exchanges as Bank Keen on Contract Renewal
28.5.2021
There may be a glimmer of hope at last for the South Korean crypto exchanges fearing for their future, with the neobank K-Bank reportedly set to renew its contract with the market-leading trading platform Upbit – just days after three major commercial banks ruled out the prospect of doing...
Danish Central Banker Tempted to Ignore Cryptocurrency — Sees Real Threat in ‘Big Tech Invading Currency Area’
28.5.2021
Denmark’s central bank governor Lars Rohde says that he can be tempted to ignore cryptocurrency, stating that it is not a threat to the central bank at present. However, he pointed out that the real threat could come from big technology companies “invading the currency area or...
Zimbabwean Fintech Lawyer and Proponent Pushes for Crypto Regulation via Private Legislative Bill
28.5.2021
A Zimbabwean fintech lawyer, Prosper Mwedzi, recently initiated a process that seeks to bring recognition and regulation of cryptocurrencies. Under this private member bill procedure, a legislative proposition initiated by private citizens will be debated in the Zimbabwean parliament. If the crypto...
Big tech, not cryptocurrency, is the real threat to central banks’ autonomy, Danish central bank governor says
27.5.2021
Though Danmarks Nationalbank's governor seems tempted to ignore cryptocurrencies, other banks in the country continue to launch new services based on crypto
Worst UK bank for dealing with scams issues crypto scam alert
27.5.2021
NatWest issued a crypto scam warning to mobile banking users after reportedly receiving a record number of complaints in Q1
Bank of Canada sees no strong case for a digital dollar — for now
27.5.2021
Amid the global CBDC race, the Canadian central bank does not currently see a strong case for issuing a state digital currency
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