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Federal Reserve Hikes Rate by 50bps, FOMC Signals Rate to Rise to 5.1% Next Year
14.12.2022
The U.S. central bank’s Federal Open Market Committee (FOMC) convened on Wednesday and raised the federal funds rate by 50 basis points (bps). The 0.5 percentage point rise follows the four consecutive three-quarters of a point increases codified during the last few months. The FOMC’s...
Brazilian Central Bank Looks to Regulate Tokenization, Launches ‘Working Group’
14.12.2022
Brazilian regulators are stepping up their efforts to control the crypto sector – and will look into ways to police the issuance of tokenized assets....
Read More: Brazilian Central Bank Looks to Regulate Tokenization, Launches ‘Working Group’
Mobile Payments Outpacing Debit Cards in Argentina According to Central Bank Reports
14.12.2022
Mobile payments are thriving in Argentina, leaving behind other traditional payment methods, including credit and debit cards. According to the central bank’s monthly report on retail payments, this kind of payment has thrived, representing 60% of the payments operations made, while...
Why Hong Kong Is Pushing for Its Own Central Bank Digital Currency
13.12.2022
As a global financial hub, Hong Kong has a vested interest in shaping the development of CBDCs and especially the systems in which they will transact across borders. But the U.S. should be concerned by its lack of full independence from mainland China
Brazil Central Bank Plans to Launch a CBDC in 2024
13.12.2022
The central bank sees a digital currency as a way of increasing participation in the financial system
Blackrock Warns of Unprecedented Recession for 2023, Bull Markets Not Returning
13.12.2022
Blackrock, one of the largest asset management companies in the world, has warned that 2023 will be a year of recession different from other recessions in the past. As part of its recently issued 2023 Global Outlook report, Blackrock states that a new economic playbook is required in a world...
Bank of England opens applications for 'proof of concept' CBDC wallet
12.12.2022
The bank requires the wallet to execute basic features such as transacting value and requesting payments and set its budget at nearly $255,000
Bank of Russia Backs Crypto Mining Bill But Insists Minted Coins Should Be Exported
10.12.2022
The monetary authority in Moscow has expressed support for the latest legislative attempt to legalize cryptocurrency mining. However, the regulator wants the extracted digital currency to be sold outside the country or only under special legal regimes in Russia, as an exception. Russia’s Central...
European Union to Put a 10,000-Euro Limit on Cash Payments; Transactions Over €1,000 in Crypto Will Be Scrutinized
10.12.2022
The states of the European Union have convened to establish a new limit on cash purchases and to strengthen the controls on cryptocurrency transactions. On Nov. 6 the bloc agreed to put a limit of €10,000 ($10,557) on cash payments and to exert stronger oversight on crypto transactions of over...
Billionaire Tim Draper Says El Salvador Will Become One of the Richest Countries on Earth For This One Reason
9.12.2022
American venture capitalist and billionaire Tim Draper argues that bitcoin (BTC) will lead El Salvador to become one of the richest countries in the world.
In an interview with investor Anthony Pompliano, published on Monday, Draper discussed governments turning to bitcoin and adopting 'the...
Some Central Banks Reportedly Looking to Issue a CBDC Within 10 Years
8.12.2022
Generally, 35% of central banks were more inclined to issue a CBDC despite recent events in crypto and none were less inclined a report by the Official Monetary and Financial Institutions showed
Bank of Spain to Launch Experimental Wholesale CBDC Digital Token Program
8.12.2022
The Bank of Spain is seeking the collaboration of organizations interested in participating in an experimental test on a wholesale central bank digital currency (CBDC). The institution clarified this new program has no relation with the current investigation on a possible digital euro, and has...
Nigeria Announces New Cash Withdrawal Restrictions — ATMs Limited to Less Than $44 per Day
8.12.2022
In a new directive to financial institutions, the Central Bank of Nigeria (CBN) said individuals can now only withdraw an equivalent of just under $222 per week while corporates can only withdraw cash not exceeding $1,111 during the same period. The new limits, which are in line with...
Spain’s central bank to experiment with wholesale CBDCs
8.12.2022
The Bank of Spain said the study can help determine to what extent it can adapt to the "needs and demands of an increasingly digital society.”
South Korea’s Central Bank Wants to Oversee Stablecoins
7.12.2022
The country joins other jurisdictions in proposing standards for stablecoin issuance
Spain’s Central Bank Opens Call for Proposals for Wholesale CBDC Project
7.12.2022
The proposal period will be open until January 31, 2023 for financial institutions and technology solution providers
Data From October Shows Gold Reserves Held by Central Banks Tapped the Highest Level in 47 Years
7.12.2022
Following the World Gold Council’s (WGC) third-quarter report that shows central banks purchased a record amount of gold, data released by the WGC shows that central banks are buying more gold during 2022’s fourth quarter. Statistics show that the gold held by the world’s central banks is at...
The impact of CBDCs on stablecoins with Bitget's Gracy Chen
6.12.2022
While CBDCs will cater to local demands, cooperation between countries could facilitate and support the widespread adoption of readily-available stablecoins
Morgan Creek CEO Says FTX Co-Founder SBF Was a ‘Pawn’ Used to ‘Punish’ the Crypto Industry
6.12.2022
Following FTX’s collapse, many industry executives, influencers, luminaries, and politicians have shared their opinions about the carnage the event has caused to crypto markets and a great deal of innocent bystanders. On Dec. 2, the CEO and founder of Morgan Creek Capital, Mark Yusko...
India’s Central Bank Digital Currency Should Be Able to Do Anything Cryptocurrency Can Do With No Risk, Official Claims
6.12.2022
An Indian central bank official claims that if there is anything cryptocurrencies like bitcoin and ether can do, the Reserve Bank of India (RBI) should be able to create a product that will do the same job without the associated risks. “This is essentially what we are doing in the CBDC...