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ECB Paper Marks Success Factors for CBDCs, Digital Euro
4.12.2021
A paper published by the European Central Bank (ECB) discusses various conditions for successful implementation of central bank digital currencies (CBDCs) such as the eurozone’s own digital euro. The authors also point to different risks that such projects entail, like the danger of crowding...
US Treasury Secretary Yellen Says She’s Undecided Whether the Fed Should Issue Digital Currency
3.12.2021
The U.S. Treasury Secretary Janet Yellen says that she has not made up her mind about whether the Fed should issue a central bank digital currency (CBDC). “There are some benefits” to a digital dollar, Yellen said, but noted that “there are also meaningful costs.” Janet...
Russia to Decide Fate of Crypto Exchangers in 2022
3.12.2021
Discussions on the future of “virtual currency exchangers” in Russia should be completed in 2022, a high-ranking representative of the country’s financial watchdog has indicated. Following international standards, authorities in Moscow would have to either regulate or ban such...
Saxo Bank's 'Outrageous Prediction' on NFT-Based Platforms Disrupting Spotify
3.12.2021
Denmark’s Saxo Bank has released a set of 10 “outrageous predictions” for next year, among others forecasting that digital rights platforms based on non fungible tokens (NFTs) have the potential to disrupt Spotify’s robust position in the global music distribution industry.
The bank explains...
NFT music platforms to disrupt Spotify in 2022, Saxo Bank predicts
3.12.2021
Spotify and Apple Music reportedly cut 75% from musicians’ revenues together with the cut paid to labels
Chinese crypto ban poses no threat to local industry media, sources say
2.12.2021
Chinese crypto media are reportedly keeping a low profile on their websites and are focusing on growing communities on Twitter and Telegram
Alternative Investments Like Crypto Form Half of Russian Non-Qualified Investors’ Portfolios
2.12.2021
Investments in alternative assets such as cryptocurrencies account for over half of the portfolio of non-qualified Russian investors, a recently held survey has indicated. Almost half of them consider digital currencies like bitcoin as a potential hedge. Cryptocurrencies Outperform Traditional...
Lummis says Fed is 'violating the law' with Wyoming blockchain bank delays
2.12.2021
The Republican senator for Wyoming has called on her colleagues to withhold support for Fed chair Jay Powell
Bank of America Sees Massive Opportunity in Metaverse for Entire Crypto Ecosystem
2.12.2021
Bank of America’s strategist says that the metaverse is a massive opportunity where cryptocurrencies will be widely used as currencies. “I definitely believe this is a massive, massive opportunity,” he said. Bank of America’s Metaverse Prediction Bank of America’s...
Indonesia’s Central Bank Considers Issuing Digital Currency to ‘Fight’ Crypto
2.12.2021
Bank Indonesia, the country’s central bank, is reportedly considering issuing a central bank digital currency (CBDC) to fight the use of cryptocurrency. “A CBDC would be one of the tools to fight crypto. We assume that people would find CBDC more credible than crypto,” said...
Metaverse is a 'Massive, Massive Opportunity' for Crypto – BofA Strategist
1.12.2021
The metaverse will be what finally pushes crypto to be used as currencies in the virtual world, a strategist at Bank of America (BofA) said about the potential of the fast-growing crypto niche....
Read More: Metaverse is a 'Massive, Massive Opportunity' for Crypto – BofA Strategist
China’s central bank proposes to monitor metaverse and NFTs
1.12.2021
The metaverse and NFTs are in the crosshairs of the People’s Bank of China, which wants to track the with Anti-Money Laundering tools
Crypto's impact on sanctions: Are regulators' concerns justified?
30.11.2021
Cryptocurrencies, including CBDC’s, have now become a part of the narrative on sanctions due to high adoption
CBDC is a tool to combat Bitcoin, says Bank of Indonesia exec
30.11.2021
“CBDC would be part of an effort to address the use of crypto in financial transactions,” Bank of Indonesia’s assistant governor Juda Agung said
Hedera and Korea's Shinhan Bank partner on KRW stablecoin pilot
30.11.2021
A new proof-of-concept will be tested to send fiat-backed stablecoins between banks to reduce fees and transaction times on international payments
Chinese Central Bank: NFT, Metaverse ‘Could Become Money-Laundering Tools’
29.11.2021
The Chinese central bank’s anti-money laundering chief has spoken out about non-fungible tokens (NFTs) and metaverse projects – suggesting that there may be a need to regulate these sectors in the same manner as it polices cryptoassets.
In two crackdowns (one in September 2017 and the second...
Nigerian Central Bank Wants Financial Institutions to Develop Products Based on Its CBDC
29.11.2021
The Central Bank of Nigeria has said it wants players in the country’s payment industry to develop and help introduce products based on its central bank digital currency, the e-naira. Central Bank Open to Suggestions In its bid to deepen the adoption of the e-naira, the Central Bank...
Bank of England Governor Worried About Bitcoin Being Legal Tender in El Salvador
29.11.2021
The governor of the Bank of England, the country’s central bank, has voiced concerns about El Salvador choosing bitcoin as a national currency. Citing a recent warning by the International Monetary Fund (IMF) against bitcoin’s use as legal tender, the governor said: “What would...
Annual Volume of Crypto Transactions Made by Russians Reaches $5 Billion, Bank of Russia Finds
28.11.2021
With the growing capitalization of the crypto economy, Russians have been making crypto transactions worth billions of dollars a year, data gathered by the Central Bank of Russia shows. Russian residents are some of the most active participants in the crypto market, the regulator has acknowledged....
Eurozone’s Fiat Is Plunging – And Probably Won’t Bounce Back Soon
28.11.2021
Keith Pilbeam, Professor of Economics, City, University of London.____...
Read More: Eurozone’s Fiat Is Plunging – And Probably Won’t Bounce Back Soon