Search
Central Bank Group Unveils Data Project Mapping Crypto Transfers
4.10.2023
The new data source, which also maps off-chain flows, could underpin future crypto regulations, according to the German-Dutch central bank project
Hong Kong-Israel CBDC Project Examines Security, Privacy, Accessibility
12.9.2023
Central banks say their new technology can be secure and accessible while promoting privacy
Dollar Share in Reserves Drops Below 60%, Yuan Rises, Russian Diplomat Says
2.9.2023
The share of currencies other than the U.S. dollar and the euro in international reserves is on the rise, according to a Russian representative. The trend is being observed as a growing number of countries try to use their national currencies in foreign trade settlements, the official noted. Russia...
Crypto’s ‘Illusory Appeal’ Should Be Met by Regulation, Not Bans, BIS Study Says
22.8.2023
Bitcoin ETFs could boost adoption because digital assets offer an escape route for state-imposed capital controls, a grouping of central bankers from the Americas said
Latam Insights — Argentina to Complete IMF Payment With Chinese Yuan, Bolivia Also Using China’s Currency for International Settlements
31.7.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Argentina is likely to settle part of a payment to the International Monetary Fund (IMF) using the Chinese yuan, Bolivia is already making payments using...
Bolivian Central Bank Using Chinese Yuan for International Settlements
28.7.2023
Economy Minister Marcelo Montenegro acknowledged that the Bolivian Central Bank is harnessing the Chinese yuan in its commercial settlements. The switch to using the Chinese currency has to do with the dollar scarcity that the country is facing, having to approve a law to sell part of its gold...
BIS Report Cites ‘Inherent Limitations’ of Cryptocurrencies; Questions Their Role in Global Economy
13.7.2023
The Bank of International Settlements (BIS) has published a report on cryptocurrencies and explains that the technology has serious “flaws.” BIS researchers insist that permissionless blockchains have “inherent limitations” that lead to network congestion and high fees. BIS Report: ‘Crypto Has...
Bank for International Settlements Rejects Crypto as Money in Report to G20
12.7.2023
A new report from the Bank for International Settlements (BIS) has pointed to “inherent structural flaws” in crypto as the reason why it will never become money.
In the report, the BIS made it clear that it believes crypto has problems related to its “stability and efficiency,” while also...
Central Banks Controlling Money Is Not Democracy, Balaji Srinivasan Says
12.7.2023
If central banks control all uses of money, this is not democracy, Coinbase’s ex-tech chief Balaji Srinivasan is convinced. The entrepreneur commented on statements by the head of the Bank of International Settlements during an IMF meeting devoted to cross-border payments. Balaji Srinivasan Speaks...
BIS Survey: 93% of the World’s Central Banks Are Engaged in CBDC Work
12.7.2023
The Bank for International Settlements (BIS), an organization that seeks to support the international cooperation of the world’s central banks, has released the results of its 2022 survey on central bank digital currencies (CBDC) and crypto. The survey found that 93% of the 86 banks surveyed...
Crypto Can’t Be Used as Money Due to ‘Inherent Flaws,’ BIS Tells G20
11.7.2023
Central bankers, wary of displacing their own fiat currencies, pointed to the past year's prominent hacks and collapses
Bank of International Settlements Report: 15 Retail CBDCs Will Be Launched By 2030
10.7.2023
The Bank of International Settlement (BIS) has said that there could be up to 15 retail Central Bank Digital Currencies (CBDCs) and eight wholesale CBDCs before the end of the decade.
The Switzerland-based group owned by 63 central banks conducted a new survey on the growth of CBDCs and their...
15 Retail CBDCs Likely by 2030, BIS Study Says
10.7.2023
A survey conducted by the Bank for International Settlements found 93% of central banks worldwide were engaged in digital currency work in 2022
State Duma Chairman of Financial Markets Committee: Russia to Exert ‘Serious’ Control Over Crypto After Legalization
28.6.2023
Anatoly Aksakov, chairman of the Financial Markets Committee of the State Duma, the lower chamber of the Federal Assembly in Russia, has remarked that the government intends to hold “serious” control over crypto after it is legalized. According to local reports, Aksakov also stated that...
Russia to Trial Digital Asset Settlements in Foreign Trade
17.6.2023
Bank of Russia plans to pilot cross-border payments using digital assets and central bank digital currencies, according to a deputy governor. The top executive believes these alternative instruments could increase efficiency in foreign trade while such settlements will not be permitted inside...
Economist Discusses Viability of BRICS Currency — Says Pegging to Chinese Yuan Would Be ‘First Major Step’
15.6.2023
An economist, who previously worked at the Bank for International Settlements (BIS), has provided insights on the possibility of a BRICS currency coexisting with the U.S. dollar. Noting that China is a major trading partner of all BRICS nations, he suggested: “Pegging to the renminbi...
Iran and Russia Talk Crypto Cooperation, Unveil Tool Streamlining Trade in National Currencies
12.6.2023
Experts and business representatives from Iran and Russia have discussed the potential uses of cryptocurrencies and blockchain. The two countries are also collaborating on implementing new financial instruments facilitating bilateral trade in their national fiats. Financial Expo Brings Together...
Russia’s Rosbank Launches Crypto Payments Solution for Cross-Border Settlements
5.6.2023
Rosbank has become the first large Russian bank to offer clients an option to use cryptocurrencies in international settlements. The solution, provided in tandem with a Russian fintech, is mostly intended to meet the needs of businesses working with foreign partners. Russian Companies to Be Able...
BRICS Nations to Encourage Use of Local Currencies in Trade
3.6.2023
Countries in the BRICS bloc intend to encourage the use of local currencies in cross-border trade, their foreign ministers revealed. The top diplomats, who met in South Africa, also emphasized the importance of financial inclusion, welcoming new technologies that support it. BRICS to Stimulate...
EAEU Official Urges BRICS and SCO for Joint Use of Digital Currencies, New Payment Card
27.5.2023
Three integration unions with Russian participation, BRICS, SCO, and the EAEU, should adopt joint policies on the use of digital currencies, according to a top representative of one of them. He also believes the international organizations should develop a new payment system with its own bank...