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European Central Bank President Christine Lagarde Calls For Crypto Regulation in EU Following FTX Collapse, Says It is ‘Very Much Needed’
29.11.2022
Christine Lagarde, head of the European Central Bank (ECB), has once again reiterated the need for bringing crypto under regulatory oversight in the European Union (EU) amid the collapse of cryptocurrency exchange FTX....
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New Naira Banknotes to Make Monetary Policy More Effective — Nigerian Central Bank Governor
27.11.2022
The Central Bank of Nigeria governor, Godwin Emefiele, has said the newly designed naira banknotes are set to enhance the effectiveness of the organization’s monetary policy and bolster the financial inclusion cause. Forcing Currency Hoarders to Return to the Banking System According to...
‘Cryptocurrencies Like Bitcoin Make Global Commerce Easy’ — Founder of Nigerian Crypto Exchange
26.11.2022
Despite the Central Bank of Nigeria (CBN)’s Feb. 5, 2021 directive that instructed banks to block crypto entities from the financial system, the demand and use of cryptocurrencies have continued to grow. Not even the central bank’s subsequent crackdown on crypto entities it accused...
Bank of Japan to Launch Digital Yen Pilot Program Next Year
26.11.2022
The Bank of Japan is preparing to run a test trial of its own central bank digital currency (CBDC), the digital yen, with help from three top banks and regional institutions. The pilot program, estimated to last two years, will focus on testing the currency via several transactions,...
Singapore Regulator Explains Action Against Binance vs FTX — Warns Even Licensed Crypto Exchanges Can Fail
26.11.2022
The Monetary Authority of Singapore (MAS), the regulator overseeing the crypto sector, has defended the action it took against crypto exchange Binance and not the collapsed crypto platform FTX. The central bank also warned that cryptocurrencies are “highly volatile and many of them have lost...
Bank of Japan to trial digital yen with three megabanks
23.11.2022
The Japanese central bank plans to make a decision on whether to issue a digital currency by 2026
Report: Kenyan Lawmaker Proposes Introducing Crypto Income and Capital Gains Tax
23.11.2022
According to a capital markets amendment bill reportedly sponsored by Kenyan lawmaker Abraham Kirwa, cryptocurrency holders in the country will be obliged to pay taxes on gains. In addition, the bill (if passed into law) would require crypto holders to furnish Kenya’s Capital Markets...
Singapore central bank explains why Binance was on its alert list, but FTX wasn’t
22.11.2022
The Monetary Authority of Singapore had its reasons, and there was nothing more it could have done about the FTX threat any way, just like other national regulators
Report: China Suspected of Stockpiling Gold to ‘Cut Greenback Dependence’
22.11.2022
During the first week of November, the World Gold Council’s (WGC) report that covered last quarter’s global gold demand noted that central banks worldwide purchased close to 400 tons of gold in Q3 2022. The study highlighted that it was the “most on record,” and the WGC researchers also...
News Summary: Indian CBDC Pilot to Launch Within a Month, Three Arrested for Major Crypto-related Crimes, EQONEX Files for Debt Restructuring
22.11.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: News Summary: Indian CBDC Pilot to Launch Within a Month, Three Arrested for Major Crypto-related Crimes, EQONEX Files...
Hong Kong believes stablecoin volatility can spillover to traditional finance
22.11.2022
According to Hong Kong’s central bank, the interconnection of crypto assets has made the crypto ecosystem more vulnerable to systematic shocks
Nigeria’s Rising Inflation and Foreign Exchange Shortages Fueling Devaluation Speculation — IMF Mission
20.11.2022
According to the International Monetary Fund (IMF)’s mission concluding statement, Nigeria’s rising inflation rate as well as the continuing shortage of foreign currency are fueling the naira devaluation speculations. To achieve a unified naira exchange rate, the global lender said...
New York Fed and 9 Major Banks to Test ‘Interoperable Network of Central Bank Wholesale Digital Money’
19.11.2022
Nine major financial institutions and the Federal Reserve Bank of New York have started to experiment with a digital dollar proof of concept to see if distributed ledger technology can improve settlement between central banks, commercial banks, and regulated non-banks. The New York Fed details that...
Fed paper looks at theoretical role of remuneration, convenience in CBDC design
17.11.2022
The discussion paper reviews the literature on the impact of CBDCs in large, developed economies and draws some conclusions and specific design elements
Bitcoin buyers drawn by rising prices, not dislike for banks: BIS report
15.11.2022
The Bank for International Settlements (BIS) studied the main motives behind Bitcoin adoption by retail investors
Bank of Russia Sets Out to Regulate Digital Asset Taxation, Exchange, Still Opposed to Crypto
13.11.2022
The Central Bank of Russia supports the development of digital financial assets but remains opposed to legalizing crypto payments, its top management has reiterated. The monetary authority is now working on a set of regulatory proposals that will be submitted to parliament by the end of the year....
Russia’s Digital Ruble Integrated Into Banking App
12.11.2022
VTB has become the first Russian bank to add the digital ruble to its mobile application. The integration is currently being tested with accounts set up for legal entities. Select customers will be granted access in the coming months and will be able to join the trials. VTB’s Mobile App to Support...
Zimbabwean Central Bank Launches CBDC Consumer Survey
11.11.2022
The Zimbabwean central bank has said it is “conducting a CBDC [central bank digital currency] Consumer Survey to solicit opinions on the design and nature of the CBDC and its overall acceptance by the public.” The bank said the information obtained via this process will...
Nigerian Currency Gains Versus US Dollar Days After Tapping All-Time Low
10.11.2022
Just a few days after plummeting to its worst exchange rate against the U.S. dollar ever, the Nigerian currency was trading at around 820 units for every dollar on Nov. 8, a report has said. An economist has suggested that the Central Bank of Nigeria’s controversial currency plan is unlikely...
Russian Central Bank Still Saying No to Use of Crypto in Settlements
10.11.2022
Russia’s Central Bank has thrown another spanner into the crypto adoption plans of the nation’s pro-business Ministry of Finance – by saying it still opposes the use of coins in settlements and “accounting” scenarios....
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