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Head of Investigative Committee Calls for Mandatory Identification of Cryptocurrency Users in Russia
15.1.2022
Russians who use cryptocurrency should not be anonymous, the man who chairs Russia’s federal investigating authority has recently stated. The official leading efforts to fight corruption in the government called for additional regulations, including the introduction of mandatory...
IMF: Crypto Could Soon Pose Risks to Countries’ Financial Stability
15.1.2022
Economists at the International Monetary Fund (IMF) say that “crypto assets are no longer on the fringe of the financial system.” In addition, they “could soon pose risks to financial stability especially in countries with widespread crypto adoption.” ‘Our...
IMF Economists: Crypto Is Not on the Fringe Anymore, Correlation with Stocks Poses Risks
12.1.2022
Tobias Adrian is the Financial Counsellor and Director of the International Monetary Fund (IMF)’s Monetary and Capital Markets Department; Tara Iyer is an economist in the Global Financial Stability Analysis Division of the same department; and Mahvash S. Qureshi is a division chief in that...
Yearn Finance risks pullback after YFI price gains 100% in less than 3 weeks
3.1.2022
The recent bout of buying in the Yearn Finance market accompanies meager volumes, suggesting there are not enough buyers backing YFI's price rally
India’s Central Bank RBI Says Crypto Is Prone to Fraud and Poses Immediate Risks to Consumer Protection
2.1.2022
India’s central bank, the Reserve Bank of India (RBI), has warned about multiple risks cryptocurrency poses to the country’s financial stability. “They are also prone to frauds and to extreme price volatility,” the apex bank claims, stressing that...
More Needs to Be Done to Ensure Tanzanians Understand the Risks of Crypto Trading, Says Blockchain Educator
25.12.2021
Tanzanians are embracing cryptocurrencies but more work still has to be undertaken in order to reduce the number of scams in the industry, a blockchain educator has said. In much of the year 2021, blockchain entities and proponents of the technology in Tanzania did much to bring this fintech...
Jack Dorsey and Elon Musk Raise Concerns Over Web3 as Skepticism About Ownership Grows
23.12.2021
Former Twitter CEO Jack Dorsey has ignited a debate about web3 after Tesla CEO Elon Musk criticized it. Dorsey warned of the risks from centralization, emphasizing that web3 is owned by venture capitalists (VCs), hiding under the premise of decentralization. “I’m concerned to...
Risks Turn Positive in the US as NZD Reaches Top Spot
22.12.2021
The high forex space followed up on strong gains within the European equities region that turned tides in the US. The AUD and NZD experienced noticeable gains as GBP followed the bandwagon. All three currencies recovered well from the supply concerns while the CHF and yen performed relatively...
Russia to Allow Foreign Residents to Own and Use Digital Ruble
13.12.2021
The central bank of Russia intends to ensure that the digital ruble is convertible to foreign currencies and can be used by non-residents. In a document devoted to the digitalization of the Russian financial sector, the regulator reiterates its concerns over the risks associated with...
Thailand Doesn’t Prohibit Crypto Use for Payments but Warns of Price Fluctuation
12.12.2021
Bank of Thailand’s officials say that using cryptocurrency as a means of payment is not illegal. However, they added that users “must be able to accept the risks,” including price fluctuation. Using Crypto to Pay for Goods and Services Is Not Illegal in Thailand Sakkapop...
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...
British Security Think Tank’s Report Warns NFTs Could Bolster Money Laundering Schemes
4.12.2021
The Royal United Services Institute (RUSI), the British defense and security think tank, questions whether or not non-fungible token (NFT) assets can be used for money laundering purposes. The report determines that in order to mitigate the money laundering risks a ‘know your...
Putin Warns Cryptocurrencies Carry Risks, Admits They May Have Future
1.12.2021
Russian President Vladimir Putin has again spoken about cryptocurrencies, noting the “high risks” associated with the virtual assets. However, the Russian leader has also acknowledged that digital currencies may have a future and it’s necessary to follow their development....
Vladimir Putin says cryptocurrencies 'bear high risks'
30.11.2021
The remarks came at a time when the country's crypto regulatory framework remains underdeveloped
Bitcoin risks lowest weekly close in 2 months but BTC buyers stock up at $53K
28.11.2021
Bitcoin remains attractive for seasoned hodlers, as $50,000 now becomes the point at which confidence could turn to anxiety
IMF Warns El Salvador Against Using Bitcoin as Legal Tender After ‘Bitcoin City’ Announcement
23.11.2021
The International Monetary Fund (IMF) has warned El Salvador against using bitcoin as legal tender due to various risks associated with cryptocurrency. The warning came one day after Salvadoran President Nayib Bukele announced his plan to build a “bitcoin city” powered by a volcano...
Commonwealth Bank of Australia recognizes risks in missing out on crypto
23.11.2021
“We see risks in participating, but we see bigger risks in not participating,” said CBA CEO Matt Comyn on the bank’s recent crypto adoption play
Crypto FOMO: Australia’s Largest Bank Sees ‘Bigger Risks in Not Participating’ in Crypto
21.11.2021
The CEO of Commonwealth Bank of Australia (CBA), the country’s largest bank, sees big risks in not participating in cryptocurrency. “We see risks in participating, but we see bigger risks in not participating,” he explained. Crypto FOMO, Banks Need to Get Involved, Says CEO...
Digital Ruble Poses Risks to Financial Sector and Security, Russian Lawmakers Warn
20.11.2021
Russian parliamentarians have cautioned against risks associated with the introduction of a digital ruble. Among them are the likely increase of competition pressure on banks and new challenges that may arise in the field of information security. Financial Market Committee Sees Threats in Digital...
Avalanche soars to new highs after Deloitte adoption — But risks emerge for AVAX price
18.11.2021
The "Big Four" accountant announced that it would leverage Avalanche's blockchain for a new project