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Deutsche Bank joins Singapore's asset tokenization project
14.5.2024
Deutsche Bank joined Singapore’s tokenization project soon after reiterating skepticism about transparency about the world’s largest stablecoin, Tether
Digital Euro Use Won’t Push Out Swedish Krona: Central Bank
14.5.2024
Adopting a potential digital euro won't reach a critical point that hastens the Swedish krona’s displacement, Sweden’s central bank said.
The post Digital Euro Use Won’t Push Out Swedish Krona: Central Bank appeared first on Cryptonews
Philippines' Central Bank Gives Approval to Coins.ph to Pilot Stablecoin in Key Remittance Market
14.5.2024
Philippines' central bank has given its approval to digital currency exchange Coins.ph to pilot a Philippine Peso backed stablecoin called PHPC, the company said last week
Sens. Lummis, Wyden oppose Justice Dept. stance on Tornado Cash charges
13.5.2024
If the Justice Dept. prevails in the case against the cryptocurrency mixer, internet service providers and the post office may also be liable to transmitter requirements, they said
Report Reveals Chinese Workers Converting Earned CBDC To Cash
13.5.2024
Workers in China are not very enthusiastic about the digital money issued by the nation's central bank (CBDC). According to a research published on May 13, several employees who receive their pay in digital yuan (e-CNY) quickly turned the asset into fiat money.
The post Report Reveals Chinese...
Philippines Central Bank Approves Trials for National Stablecoin Tied to Local Peso
13.5.2024
The Philippines central bank has given the green light for controlled trials of a national stablecoin that will be pegged 1:1 to the local peso.
The post Philippines Central Bank Approves Trials for National Stablecoin Tied to Local Peso appeared first on Cryptonews
Despite $250 Billion Worth of Transactions, Digital Yuan Users Prefer Physical Cash
13.5.2024
Some participants of China’s Central Bank Digital Currency (CBDC) pilot program, specifically state workers paid in digital yuan (e-CNY), are quickly converting their digital currency to physical cash due to concerns over its utility and lack of incentives like interest on savings. Despite...
Philippines begins Peso-backed stablecoin sandbox testing
13.5.2024
The test aims to evaluate PHPC's real-world performance, its impact on the local fiat ecosystem, and its potential uses including payments, trading, and DeFi applications
Crypto Teams May Exit Space Due to Ethereum Security Classification, Amina Bank Report Suggests
13.5.2024
The classification of ethereum as a security poses not only risks to the entire crypto market, but it could also likely lead to many crypto teams exiting the space. This designation might hinder progress and potentially reverse years of advancements in the cryptocurrency market. The U.S. Securities...
Philippine Central Bank Approves Peso-Pegged Stablecoin for Faster Remittances
13.5.2024
The Bangko Sentral ng Pilipinas, the central bank of the Philippines, has approved PHPC, a stablecoin pegged to the Philippine peso, aimed at facilitating cost-effective remittances. Crypto exchange Coins.ph, the stablecoin issuer, plans to attract 20,000 to 30,000 users in the first month....
Billionaire Barry Sternlicht Foresees Banks Failing Every Week in US
12.5.2024
Barry Sternlicht, CEO of Starwood Capital Group, has voiced concerns about the vulnerability of regional and community banks in the U.S. to high interest rates and inflation, particularly amid the commercial real estate downturn. He forecasted frequent failures of these banks, predicting:...
Nigerian Experts Say Past Central Bank Policies Drove Users to P2P Crypto Platforms
12.5.2024
Stakeholders in Nigeria’s cryptocurrency sector argue that the Central Bank of Nigeria’s previous decision to exclude cryptocurrency entities from the banking ecosystem has fueled the growth of peer-to-peer crypto trading. Nigerian authorities are reportedly seeking to ban peer-to-peer crypto...
Bank of Canada Governor Warns of ‘Sharp Correction’ Risks in Markets and ‘System-Wide Stress’
12.5.2024
In his speech on the release of the Financial Stability Report, Tiff Macklem, Governor of the Bank of Canada, sought to emphasize the purported strength of Canada’s financial system while cautioning against ongoing risks that could precipitate a “sharp correction” in markets...
Wells Fargo Banks Has Invested $143 Million In Bitcoin, Filing Reveals
10.5.2024
Wells Fargo has bought Bitcoin after once preventing customers from doing the same many years ago.
The post Wells Fargo Banks Has Invested $143 Million In Bitcoin, Filing Reveals appeared first on Cryptonews
White House Plans to Nominate CFTC Commissioner Johnson for Treasury Position
10.5.2024
According to reports, the US Treasury Department's top position involving bank supervision would be filled by the nomination of Kristin Johnson, a commissioner at the Commodity Futures Trading Commission (CFTC), by the White House.
The post White House Plans to Nominate CFTC Commissioner Johnson...
Stablecoin Issuer Tether Hits Back Deutsche Bank’s Argument Over its Solvency
10.5.2024
Deutsche Bank criticized Tether stablecoin, questioning its solvency and its industry standard for crypto derivatives.
The post Stablecoin Issuer Tether Hits Back Deutsche Bank’s Argument Over its Solvency appeared first on Cryptonews
Tether Counters Deutsche Bank’s Stablecoin Warning, Defends Reserve Transparency
10.5.2024
Tether strongly criticized a Deutsche Bank report that raised concerns about the stability of stablecoins, including Tether’s dollar-pegged token, predicting a potential crisis similar to the 2022 collapse of Terrausd, which erased billions from the market. Deutsche Bank analysts, citing...
Tether slams Deutsche Bank over suggestion its stablecoin could fail
10.5.2024
Analysts at Deutsche Bank also argued Tether’s solvency status is “questionable” which the stablecoin firm said is “ironic” considering the bank’s own history with fines
Rwanda’s CBDC Taking Shape? Central Bank Explores Tokenized Retail CBDC
9.5.2024
The National Bank of Rwanda is assessing possible opportunities for a CBDC, adopting latest innovative technologies.
The post Rwanda’s CBDC Taking Shape? Central Bank Explores Tokenized Retail CBDC appeared first on Cryptonews
Bank of Thailand Tests Potential of a Retail CBDC, the Digital Baht
9.5.2024
The Bank of Thailand (BOT) has released a report on its Retail Central Bank Digital Currency (CBDC) pilot project, conducted using Giesecke+Devrient’s (G+D) technology solution. The project tested the digital version of the Baht and its potential for financial innovation, delivering key lessons...