Search
Nigerian Currency Depreciation: Central Bank Head Reaffirms Commitment to Reviving Confidence in the Economy
8.2.2024
The Nigerian central bank remains committed to building confidence in the economy but that hinges on the implementation of “bold reforms” and residents’ help in easing pressure on the naira. However, critics have faulted the central bank’s policies including the devaluation...
Belarus CBDC ‘Will Let Nation Decentralize Cross-border Trade,’ 2026 Rollout Confirmed
8.2.2024
Belarus’ Central Bank thinks its new CBDC will let Minsk “decentralize cross-border trade,” and has earmarked a national rollout for 2026. Per ONT, the National Bank of Belarus (NBB)’s Deputy Head of Research and Strategic Development Mikhail Demidenko, said: “The [goal] is primarily...
Federal Reserve Ends Enforcement Action Against FTX-Connected Farmington State Bank
7.2.2024
The Federal Reserve terminated its enforcement action against Washington-based Farmington State Bank, previously known as Moonstone Bank and linked to FTX’s Alameda Research. Federal Reserve Terminates Enforcement Action of FTX-Linked Farmington Bank The Federal Reserve Board has officially...
European Markets Org Praises Bank of England On UK Stablecoin Rules
7.2.2024
Today, the Bank of England extended the deadline for citizens to provide feedback on its proposed regulatory regime for UK stablecoins from February 6 to February 12. The central bank’s discussion paper focused on rules for sterling-denominated stablecoins, which it believes are the most likely...
Vast Bank Withdraws From Cryptocurrency Sector, Shuts Down Mobile App
7.2.2024
Vast Bank, the U.S. financial institution that once offered customers the unique ability to manage cryptocurrencies alongside traditional banking, is exiting the digital asset space and shutting down its crypto mobile app in response to a consent order from the Office of the Comptroller of...
Belarus Sanctions ‘Antidote?’ Minsk Confirms ‘Blockchain-powered CBDC’ Launch
7.2.2024
Minsk is looking for ways to end Belarus’ sanctions woes, with its central bank confirming the planned launch of a blockchain-powered CBDC. Per Sputnik Belarus, the National Bank of Belarus (NBB) is keen to make use of smart contract technology. A spokesperson told reporters on February 3: “We plan...
FTX-linked Farmington State Bank Cleared from Federal Reserve Enforcement Action
6.2.2024
The Federal Reserve terminated an enforcement action with Farmington State Bank on February 6, announcing that the FTX-affiliated bank had “completed its wind-down plan and no longer functions as a bank.” “The Board’s enforcement action, which has been in effect since July 2023, ensured the bank’s...
The Big Misunderstanding: What MiCA Really Means for Stablecoins in Europe
6.2.2024
The EU's comprehensive crypto guidance does not introduce entirely new regulations for fiat backed stablecoins, former central banker Jón Egilsson writes. Instead it affirms existing rules that many current issuers are not yet following
Court Rules Against Crypto Mining Company, Won’t Force BC Hydro to Provide Power + More Crypto News
6.2.2024
Get your daily, bite-sized digest of blockchain and crypto news – investigating the stories flying under the radar of today’s news. In today’s edition: Court Rules Against Crypto Mining Company, Will Not Force BC Hydro to Provide Power YouHodler Gets Bank of Spain’s Virtual Asset Service...
Egypt Aims to Ease Pressure on Forex Reserves via $1 Billion Treasury Bill Auction
6.2.2024
Barely a month after raising $850 million from an auction of dollar-denominated treasury bills, the CBE was reportedly poised to raise $1 billion via similar instruments. The decision to hike overnight interest is said to be part of the central bank’s ongoing efforts to stabilize Egypt’s...
BitMEX Co-Founder Arthur Hayes Sees Bitcoin Price Hit $1 Million on Bank Bailouts
6.2.2024
BitMEX co-founder and former CEO Arthur Hayes earlier posted on X a scenario where he sees Bitcoin price touching $1 million. Hayes tweeted that Federal Reserve Chairman Jerome Powell is saying US banks are strong to very strong, but NYCB (New York Community Bancorp) says otherwise. Who is right...
JPMorgan Warns of Increased Risk for Crypto Market Due to Tether’s ‘Lack of Regulatory Compliance and Transparency’
6.2.2024
JPMorgan has warned of increased risk for the crypto market resulting from Tether’s “lack of regulatory compliance and transparency.” The global investment bank’s analysts explained that other stablecoin issuers that have been more compliant with existing regulations...
Trump Calls CBDC a “Very Dangerous Thing,” Criticizes Artificial Intelligence
5.2.2024
Former president and leading Republican presidential candidate Donald J. Trump called the prospect of a central bank digital currency (CBDC) a “very dangerous thing” during a February 2 interview on Fox Business. Trump Doubles Down On Anti-CBDC Stance Fielding questions from Maria Bartiromo, Trump...
First U.S. Bank to Introduce Crypto Checking Accounts Reverses Course, Closes Crypto Banking Mobile App
5.2.2024
A bank claiming to be the first U.S. banking institution to allow its customers to buy, sell, and hold cryptocurrencies “alongside a traditional checking account,” closed its mobile crypto app last week. In a FAQ posted on its website, Vast Bank said it was exiting the crypto industry and would...
Donald Trump Calls CBDCs and Artificial Intelligence 'Dangerous'
5.2.2024
The Republican frontrunner also said that AI-powered deepfakes were a "tremendous problem."
Russia’s Sberbank Launches Digital Assets, NFT Offerings for Retail Investors
5.2.2024
Sberbank, Russia’s biggest bank, announced the launch of a digital financial asset and NFT trading platform. On February 2, Sberbank explained that its “digital financial assets (DFAs) platform” was open to “all individuals.” The bank added that “qualified investors” can also invest in...
Nigeria Forex Crisis: Central Bank Removes Cap on Exchange Rate for International Money Transfer Operators
4.2.2024
The Central Bank of Nigeria announced on Jan. 31 that it had removed caps on naira payout rates that international money transfer operators are allowed to quote. The central bank said the policy change is an effort aimed at further liberalizing the foreign exchange market. The naira’s Feb.1...
Veteran Investor Jim Rogers on Crypto: Bitcoin Unlikely to Become Money, Governments Favor CBDCs
3.2.2024
In a new interview, Jim Rogers, who helms Rogers Holdings Inc. and was a co-creator of the Quantum Fund alongside George Soros in the 1970s, shared his observation of “various signs that something is going to go wrong soon” within the U.S. economy, predicting an impending recession....
Project Mbridge Reaches Milestone: First Digital Dirham Cross-Border Settlement Goes Through
3.2.2024
The first cross-border digital dirham payment was completed by Sheikh Mansour Bin Zayed Al Nahyan, Chairman of the Board of the Central Bank of the UAE, using the Mbridge platform, a central bank digital currency (CBDC) liquidity and interconnection tool. The settlement involved sending 50 million...
Fintech Provider Monei Kicks-Off EURM Stablecoin Pilot in Spain
2.2.2024
Fintech firm, Monei has launched trials of the euro-backed stablecoin EURM in Spain in collaboration with major financial institutions in the country. In a recent press release, the company announced the commencement of tests under the supervision of the Bank of Spain’s Financial Sandbox. The tests...