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Bangladesh and India to Trade in National Currencies Due to US Dollar Liquidity Issues
16.5.2023
Bangladesh and India have decided to conduct trade settlements in their own currencies, bypassing the dominance of the U.S. dollar. According to sources from the Bangladesh Bank, the decision was made due to the issues of liquidity in foreign currency that Bangladesh faces, which are disrupting...
IMF Says Zimbabwe Gold-Backed Digital Currency a Potential Threat to Financial Stability
11.5.2023
The International Monetary Fund has urged Zimbabwean authorities to weigh the benefits versus risks of issuing a gold-backed digital currency. Instead of using gold-backed digital currency to limit the demand for the greenback, the global lender said monetary authorities should consider...
Zimbabwe sets price to sell gold-backed digital tokens
5.5.2023
Zimbabwe's central bank plans to sell gold-backed digital tokens at $10 for individuals and $5,000 for corporates
Zimbabwe’s De-Dollarization: Central Bank to Issue Gold-Backed Digital Currency in Early May
30.4.2023
The Reserve Bank of Zimbabwe (RBZ) has said it will start issuing gold-backed digital tokens on May 8. The first phase of the launch will see the digital tokens being issued for “investment purposes with a vesting period of 180 days.” The RBZ also revealed that the gold-backed digital...
Report: Zimbabwe’s Central Bank Says Upcoming Gold-Backed Digital Currency to Help Reduce Demand for US Dollar
25.4.2023
The governor of the Zimbabwean central bank, John Mangudya, recently revealed that his institution is planning to introduce a gold-backed digital currency. According to the governor, the soon-to-be-introduced gold-backed digital currency is expected to help diminish local residents’ demand...
Zimbabwe's central bank to issue gold-backed digital currency: Report
23.4.2023
The Reserve Bank of Zimbabwe plans to introduce a gold-backed digital currency as legal tender in a bid to stabilize its local currency
‘Not Related to a Digital Currency’ — US Central Bank Addresses Concerns Over Fednow Payment Network
9.4.2023
The U.S. Central Bank has issued an update regarding the Federal Reserve’s Fednow project, which is scheduled to commence in July. The Fed has responded to recent criticism of the Fednow service and asserts that the Fednow payment network is “neither a form of currency nor a step toward...
Australian 'Big 4' bank ANZ halts cash withdrawals from many branches
31.3.2023
The move comes as Australians continue to reduce their usage of cash and bank branches, but has sparked fears that the death of cash is near
Fed Bank President: Banking Crisis Tips US Economy Toward Recession
29.3.2023
The president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, says the current banking crisis has pushed the U.S. economy closer to a recession. “We have fundamental issues, regulatory issues facing our banking system,” the Fed official stressed. Neel Kashkari on U.S....
Report: Regulations Governing Tokenized Deposits and Crypto Assets in South Africa Set to Effect in January 2025
26.3.2023
Regulations governing tokenized deposits and crypto assets are likely to become effective on Jan. 1, 2025, a senior fintech analyst at the South African central bank has revealed. However, according to the analyst, regulators are still trying to understand or learn the risks that come with using...
India’s Central Bank Seeking Privacy Legislation for Retail CBDC Users
21.3.2023
India's central bank is advocating for legislation that will allow users of its retail central bank digital currency (CBDC) to delete any transactions in order to maintain anonymity
Economist David Rosenberg Warns of ‘Crash Landing’ and Recession, Citing Fed Data
21.3.2023
Famed economist David Rosenberg has warned of a “crash landing” and an impending recession for the U.S. economy. Referring to the Philadelphia Fed’s manufacturing index chart, he stressed: “Take a good hard look at this chart and tell me we are heading into...
Indian Central Bank Chief: US Banking Crisis Clearly Shows Risks Crypto Poses to the Financial System
18.3.2023
The governor of India’s central bank, the Reserve Bank of India (RBI), says the “ongoing U.S. banking crisis” clearly demonstrates the risks cryptocurrency poses to the financial system. The central bank chief added that the “Indian economy remains resilient,” emphasizing that the “worst...
India, UAE Collaborate to Boost Cross-Border Central Bank Digital Currency Transactions
16.3.2023
India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency...
Australia's Treasury and Reserve Bank Held Consultations With Coinbase, Others: Report
15.3.2023
Australia's central bank and Treasury have held meetings with international crypto industry executives on the future of digital assets and regulation in the nation
NY Regulators Seize Control of Signature Bank, Depositors Assured by Federal Bailout
13.3.2023
On Sunday, the New York Department of Financial Services, or DFS, announced that it had taken possession of Signature Bank. The DFS appointed the Federal Deposit Insurance Corporation, or FDIC, as the receiver of the bank. In a joint statement, the U.S. Federal Reserve, Treasury Department,...
Reserve Bank of Australia Unveils Proposed CBDC Use Cases
5.3.2023
The Reserve Bank of Australia said on March 3 that it has selected 14 digital currency proposed use cases from a large number of submissions obtained from industry participants. An assistant governor at the RBA, Brad Jones, said the Aussie central bank is encouraged by the composition of providers...
India explores offline functionality of CBDCs: RBI executive director
4.3.2023
In addition to offline functionality, RBI is gauging CBDC’s potential for cross-border transactions and linkage with legacy systems of other countries
India’s Central Bank Digital Currency Will Act as Alternative to Cryptocurrency, Says RBI Official
4.3.2023
An official of India’s central bank, the Reserve Bank of India (RBI), says that the country’s central bank digital currency (CBDC) will act as an alternative to cryptocurrency. He stressed that the digital rupee must possess all the attributes of physical currency, including anonymity....
Fed President Warns of ‘Disastrous Results’ if the Fed Loosens Policy Prematurely — Says ‘Inflation Remains Too High’
2.3.2023
Federal Reserve Bank of Atlanta’s president has warned of disastrous economic consequences similar to those seen during the financial crisis of the 1970s if the Fed loosens its policy prematurely. Noting that “inflation remains too high,” he stressed: “We don’t want...