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Survey: 1 in 10 Irish Investors, Quarter of Young People Hold Cryptocurrencies
17.9.2021
Investors in Ireland are attracted to digital opportunities offering better returns and often find them online, a new survey has indicated. According to the poll, 11% of investors have already bought a digital asset and a quarter of the young Irish are betting on cryptocurrencies. Low Interest...
Nigerian Currency Plunges to New Low of 570 — 10% of Value Lost in Under 30 Days
17.9.2021
The Nigerian currency, the naira, plunged to a new all-time low of N570 for every dollar on September 16, 2021. This new exchange rate means since August 17, the naira has now lost about a tenth of its value on the foreign currency black market. Naira Overvalued In spite of this plunge, which...
El Salvador's credit rating could take hit amid Bitcoin adoption warns S&P Global
17.9.2021
S&P Global believes El Salvador’s recognition of Bitcoin as legal tender has brought “immediate negative implications” for its credit rating
ECB President Christine Lagarde Insists Cryptos Are Not Currencies, Calls Them Highly Speculative, Suspicious
17.9.2021
The president of the European Central Bank (ECB), Christine Lagarde, says cryptos are not currencies, adding that they are “highly speculative, suspicious occasionally, and high intensity in terms of energy consumption.” She also discussed the need for stablecoin regulation...
Cuba's cryptocurrency regulations take effect
16.9.2021
Crypto is now a legal method of payment for commercial transactions in the Island nation
IRS, Janet Yellen Press Lawmakers to Push ‘Tax Compliance Agenda’ — Banks to Report Deposits, Withdrawals of $600
16.9.2021
On Wednesday, U.S. Internal Revenue Service (IRS) commissioner Charles Rettig and Janet Yellen, the Treasury secretary, urged lawmakers to give the IRS permission to report annual inflows and outflows from American bank accounts. Regardless of tax liability, financial institutions across...
Central Bank of Turkey Expands Research, Prepares to Test Digital Lira on New Platform
16.9.2021
The Turkish central bank has established a new platform together with technology stakeholders to further the development of a digitalized version of the national fiat currency. The new collaboration will allow Turkey to focus on expanding research and conducting tests of the prospective digital...
Data center operators have ‘no problem’ with new Russian crypto crackdown
16.9.2021
As Russia works to “more clearly prohibit the use of cryptocurrency,” the country's largest data center operators aren’t really worried
Sources With Ties to Washington Say Joe Biden Will Renominate Fed Chair Jerome Powell
15.9.2021
Unnamed sources familiar with the matter indicate the Biden administration may allow Federal Reserve chairman Jerome Powell to continue as the central bank’s lead. The news follows three U.S. representatives asking Biden to replace Powell with a central bank leader that addresses equality...
State Bank of India Blocks Payments to Cryptocurrency Exchanges on UPI Platform
15.9.2021
State Bank of India (SBI) has reportedly blocked payments to cryptocurrency exchanges using its Unified Payments Interface (UPI). Payment processors have been told to disable the bank’s UPI for crypto merchants. Payment Processors Instructed to Disable SBI UPI for Crypto Firms State Bank...
Turkish central bank taps local tech firms for digital currency R&D
15.9.2021
The Central Bank of the Republic of Turkey has signed agreements with various firms to form the Digital Turkish Lira Collaboration Platform
Bank of Russia wants to block ‘emotional’ and suspicious crypto activity
15.9.2021
The Russian central bank is planning to slow down payments to crypto exchanges and combat suspicious crypto activity
Bitcoin Will Not Become Legal Tender in Uzbekistan, Central Bank Official Insists
15.9.2021
Cryptocurrency cannot be adopted as a means of payment in Uzbekistan, a high-ranking official from the country’s central bank has recently stated. Speaking to local media, the regulator’s representative also noted that unlike cryptocurrencies, the national fiat is backed by...
Digital Ruble to Help Curb Use of ‘Money Surrogates,’ Russia Says in Financial Strategy Document
15.9.2021
The launch of a digital ruble will be among Russia’s key priorities of digitalization this decade, the country’s financial market development strategy has confirmed. The document claims the issuance of a digital national fiat will help the central bank to prevent Russians from using...
Global Investment Bank Morgan Stanley Launches Dedicated Cryptocurrency Research Team
15.9.2021
Global investment bank Morgan Stanley is establishing a new cryptocurrency research team. “The launch of dedicated crypto research is in recognition of the growing significance of cryptocurrencies and other digital assets in global markets,” the bank said. Morgan Stanley Sets Up...
Bank of Russia Recommends Banks to Block Cards, Wallets Used to Transact With Crypto Exchangers
14.9.2021
The central bank of Russia has advised commercial banks on how to identify and block cards and wallet accounts used by shady businesses. Along with illegal forex dealers and financial pyramids, the regulator has also listed crypto exchangers as suspicious entities. New AML Recommendations by Bank...
Uzbekistan has no plans to ease crypto payments ban, says official
14.9.2021
One official said that after banning crypto payments in late 2019, Uzbekistan won’t ever reconsider its decision
New York Fed’s Consumer Inflation Report Expects US Inflation to Hit 5.2% by Next Year
14.9.2021
Americans are still very concerned about inflation as the latest Survey of Consumer Expectations (SCE) report from August indicates that U.S. consumers expect inflation to be 5.2% a year from now. The SCE response data hasn’t been this high since 2013, and it’s increased since...
Nigeria’s CBDC ‘a Safer Option’ Than Privately Issued Cryptocurrencies: Central Bank Official
14.9.2021
As part of the Central Bank of Nigeria (CBN)’s digital currency charm offensive, Folashodun Shonubi, the institution’s deputy governor, has claimed that the country’s upcoming central bank digital currency (CBDC) will be a “safer option from privately issued...
Singapore’s Largest Bank DBS Sees Rapid Growth in Crypto Business, Robust Demand From Investors
14.9.2021
DBS Group Holdings, the largest bank in Singapore and Southeast Asia, says its crypto business is “growing very rapidly.” The bank’s digital asset trading platform expects to double the number of members by year-end. Singapore’s DBS Expects Substantial Growth in Crypto...