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FCA’s Fourth Consumer Report Shows UK’s Crypto Asset Ownership Increased 27% Since Last Year
17.6.2021
The UK’s Financial Conduct Authority (FCA) has published a research report that reveals crypto asset ownership has increased a great deal. According to the study, crypto ownership spiked more than 27% since last year as the FCA’s estimates show 2.3 million adults hold digital...
Korean Exchanges Delist High-risk Coins as They Face Tough Regulations
17.6.2021
Crypto trading platforms in South Korea are delisting certain digital currencies as they move to comply with stricter rules for the industry. The trading of some high-risk coins has been either halted or completely suspended on several Korean exchanges this week. South Korean Exchanges Wipe Trading...
Venture Capitalist Tim Draper Doubles Down on His $250K by 2022 Bitcoin Price Prediction
16.6.2021
American venture capital investor Tim Draper still believes in a bitcoin price prediction he made in mid-April 2018, at the Draper University blockchain party. At the time, Draper said that he thinks bitcoin could reach $250K by 2022, and during an interview with CNBC’s Jade Scipioni this...
Tunisian Minister Says He Plans to ‘Decriminalize’ the Buying of Bitcoin
16.6.2021
After reports that Tanzanian President Samia Hassan had asked her finance chief to look into cryptocurrencies, Tunisia has become the latest African country to signal a willingness to embrace digital assets. According to remarks attributed to Ali Kooli, Tunisia’s economy minister, the North...
Hedge Funds Aim for $300 Billion in Crypto Assets Within 5 Years, Survey Shows
16.6.2021
Hedge funds are likely to significantly increase their crypto holdings, a global poll of chief financial officers has indicated. According to an average figure based on their forecasts, the funds will keep more than 7% of assets in cryptocurrency within the next five years. Hedge Fund CFOs Expect...
Can Bitcoin Ever Replace Fiat Currencies?
15.6.2021
With El Salvador legalizing Bitcoin as legal tender and forward-looking companies like Tesla, MicroStrategy, and Square accepting payments in Bitcoin, the debate once again rages on whether cryptos like Bitcoin can ever replace fiat currency. According to BItstamp CEO Julian Sawyer, Bitcoin...
Experts: Regulatory Uncertainty and Slow Embrace Hampering Crypto Growth in Kenya
14.6.2021
Regulatory uncertainty and the slow embrace of cryptocurrencies continue to be key impediments to the growth of Kenya’s digital currency market, experts say. They also assert that without speedy regulation, which they believe will hasten the adoption of digital currencies, Kenya’s...
Texas Announces State-Chartered Banks Can Provide Cryptocurrency Custody Services
12.6.2021
The Texas Department of Banking has announced that state-chartered banks can provide cryptocurrency custody services. “The Texas Department of Banking believes that the authority to provide these services with respect to virtual currencies already exists,” the banking authority said....
Bank of Namibia Warns Crypto Traders It ‘Will Not Entertain Complaints’ if They Get Scammed
12.6.2021
The Bank of Namibia (BON) has warned individuals investing in cryptocurrencies that it will not entertain their complaints should they get scammed. The institution argues that since its mandate does not currently cover digital currencies, it lacks the “legal power” to follow up on such...
Swiss, French Central Banks to Trial Wholesale CBDC Settlements With BIS and Private Sector
11.6.2021
The central banks of Switzerland and France are joining hands with the Bank for International Settlements to test wholesale central bank digital currencies in cross-border transactions. The experiment will be conducted with the help of a private sector consortium led by Accenture. European Central...
Hong Kong to Connect Digital Yuan With Domestic Payments System in Cross-Border Trials
9.6.2021
Financial authorities in Hong Kong have announced a second phase of trials for mainland China’s digital currency. As part of the upcoming tests, the city will link the Chinese digital yuan to its domestic payments system to evaluate the CBDC’s usability in cross-border scenarios. Hong...
Members of East Africa Community Explore Potential Use of CBDC for Alternative Regional Payment System
9.6.2021
Six East African states are reportedly set to explore the possibility of using central bank digital currencies (CBDC) as an alternative to their shared payment system. The six countries, which are all members of the East Africa Community (EAC) trading bloc, are hoping this alternative will create...
Amazon Job Listing Seeks Blockchain Lead – Internet Giant Looks to Create ‘Business Use Cases Across Defi’
8.6.2021
Amazon is looking for a blockchain expert, according to a job posting published on the company’s employment portal. The firm wants someone who is “passionate about blockchain and decentralized networks” and someone who can build innovative “business use cases” across...
Kenyan Banks Warn Clients Against Crypto Trading
8.6.2021
A few Kenyan banks have started sending out warning alerts to clients engaged in cryptocurrency trading to be wary of the associated risks. These warnings have reportedly been sent to clients who have “used their credit and debit cards to buy cryptocurrencies on crypto exchanges.”...
G7 Finance Chiefs to Publish Common Rules for State-Issued Digital Currencies This Year
6.6.2021
The G7 finance ministers and central bank governors have met and agreed to work towards common principles for state-backed digital currencies and publish their conclusions this year. They said these digital currencies “could act as both a liquid, safe settlement asset and as an anchor for...
Kalashnikov Eyes Digital Ruble Settlements as Russia Aims to Replace ‘Dirty Money’
5.6.2021
Kalashnikov Group, the Russian firearms manufacturer, is ready to transition to settlements in digital currency. The announcement came from the international economic forum in Saint Petersburg where the central bank of Russia reaffirmed its intention to replace “dirty”...
Alternative Mining Algorithms Reap Higher Profits Than Bitcoin Mining in 2021
4.6.2021
Cryptocurrencies have jumped quite a bit in value over the course of the year and miners who verify transactions and earn digital assets have seen significant profits. While bitcoin miners have been seeing daily profits rise, a great number of other mineable digital currencies are pulling in much...
Bank of Ghana ‘in the Advanced Stages of Introducing a Digital Currency’— Governor Repeats Anti-Cryptocurrency Claims
4.6.2021
The governor of Ghana’s central bank, Ernest Addison, has said his institution is now “in the advanced stages of introducing a digital currency.” However, before its release into circulation, the digital currency—which is also known as the “e-cedi”— will...
ECB: Digital Euro to Boost Global Appeal of European Money, Fight ‘Artificial Currencies’
4.6.2021
The digitization of traditional currencies like the euro has the potential to increase their international appeal, the European Central Bank says in a new report. A failure to offer a digital currency would endanger financial stability, ECB warns. The regulator is concerned about the prospect...
ECB says digital euro may be needed to combat 'artificial currencies'
3.6.2021
The ECB’s annual euro report stressed that a digital euro may be needed to fight off the threat of “artificial currencies” from “foreign tech giants.”