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Bank of Thailand Needs More Time to Complete and Launch Retail Digital Currency
31.10.2022
The central bank of Thailand is not going to rush with the launch of its digital currency as it’s not yet sure about the benefits it would bring. According to the head of the monetary authority, the development of the state-issued coin may take several years. Thailand’s Central Bank Wants to Better...
Former Morgan Stanley Executive Says Crypto Will Change the Financial System – Future of Money?
18.10.2022
John Mack, a former CEO at the major US-headquartered investment bank Morgan Stanley, suggests that bitcoin (BTC) and crypto may become a part of the increasingly digitized world of trading – and many of us may live to see it.
Talking to CNBC about whether Wall Street would become digitized in...
BTC Ownership in Canada Rises Sharply in 2021, Bank of Canada Study Shows 13% of Canadians Own Bitcoin
15.10.2022
This week researchers from the Bank of Canada published the central bank’s Financial System Review which highlights five key statistics tethered to Canadian bitcoin owners. According to the Bank of Canada’s metrics, 13% of Canadians own the leading crypto asset bitcoin,...
Atlantic Council Director Sees 'Splintering' Financial System if US Falls Behind on CBDCs
6.10.2022
Josh Lipsky, senior director of the Atlantic Council, joined “First Mover,” to discuss what role the U.S. could play in the development of a CBDC and what could eventually happen to the U.S. dollar
Top US Regulators Urge Congress to Pass Legislation on Crypto Assets
5.10.2022
The U.S. Financial Stability Oversight Council (FSOC), a group of the country’s top financial regulators, has urged Congress to pass legislation for the regulation of crypto assets. Treasury Secretary Janet Yellen said: “Crypto-asset activities could pose risks to U.S. financial...
White House Releases ‘First-Ever’ Framework for Digital Asset Development — Crypto Industry Leader Says Recommendations Are Unclear
17.9.2022
The White House has now released what it called its “first-ever” comprehensive framework for the responsible development of digital assets just over six months after U.S. President Joe Biden signed an executive order on the same matter. However, one crypto industry leader has lamented...
Zugacoin Controversy: Supposed Poverty Eradicating Cryptocurrency Criticized as Just Another Complex Nigerian Ponzi Scheme
27.8.2022
After reports that merchants and holders of “Zugacoin” cryptocurrency are unable to make withdrawals, the founder of the Nigerian crypto, Sam Zuga responded by accusing unnamed “ignorant people” of working to tarnish the project. One Nigerian expert has advised...
ECB Economists Suggest Limiting Access to Digital Euro to Protect Banks
30.7.2022
A group of economists evaluating the potential effects of a digital euro have insisted that restricting access to the upcoming currency is necessary to preserve the current financial system. Their study follows an earlier proposal to limit digital euro deposits at the European Central Bank (ECB)...
Report: Terror Groups Using South African Financial System to Move Funds
28.7.2022
Sympathizers of the terror group, the Islamic State (IS) are allegedly using South Africa’s financial system to channel funds to the group’s affiliates and networks in Africa. The United States government has so far sanctioned four South Africa-based individuals it accused...
Nigerian Central Bank Governor Says Fintechs and Cryptos Change the Way Financial Systems Function
19.7.2022
The Nigerian central bank governor and bitcoin critic, Godwin Emefiele, recently remarked that the rise of fintechs and cryptocurrencies among other technologies have forced banks and financial institutions to change the way they operate. According to Emefiele, this requires the central...
Nigerian Mobility Fintech Secures $20 Million From British Development Finance Institution
12.7.2022
A Nigerian fintech, Moove, recently secured a $20 million investment from British International Investment (BII). Moove said the funds will be used to democratize access to vehicle ownership in Africa. Credit Extended Based on Drivers’ Performance and Revenue Analytics The British...
Fed’s Brainard Calls for Sound Regulation of Crypto Financial System to Be Established ‘Now’
10.7.2022
Federal Reserve Vice Chair Lael Brainard has stressed the importance of establishing sound regulation for the crypto financial system “now before the crypto ecosystem becomes so large or interconnected that it might pose risks to the stability of the broader financial system.”...
Russia’s Finance Ministry Supports Circulation of Stablecoins in Country
9.7.2022
The Russian Ministry of Finance is ready to back the legalization of transactions with stablecoins in Russia, according to a high-ranking representative. While the ministry recognizes that cryptocurrencies could lay the ground for a new financial system, the department is unsure if it will...
EU Watchdog Wants to Address Threat Crypto Assets Could One Day Pose to Financial System
30.6.2022
The European Systemic Risk Board is looking into measures and policies to address the potential threat that crypto assets could present to the global financial system
Crypto Payments Possible if They Don’t Penetrate Russia’s Financial System, Central Bank Says
17.6.2022
Cryptocurrencies can be used for international payments if they don’t penetrate the Russian financial system, the head of Bank of Russia has stated. The governor also insisted that the digital assets should not be traded on platforms operating inside the country. Bank of Russia Chair Ready...
Central Africa Republic’s Bitcoin Adoption: The Real Work Must Start Now
23.5.2022
The Central Africa Republic (CAR)’s surprise bitcoin adoption decision once again shows that the top cryptocurrency can be an alternative to fiat currency. However, the African country still needs to invest heavily in its telecommunications infrastructure. The CAR also needs to prioritize...
Report: BRICS Countries Told to Consider Countering the Dollar’s Global Hegemony
22.5.2022
Chinese experts have called on leaders of BRICS (Brazil, Russia, India, China and South Africa) countries to consider countering the dollar, whose global hegemony is thought to be abusive. Still, the experts concede that any attempt to diminish the dollar’s dominance will take time. BRICS...
Citi Says Fallout From Terra Collapse Unlikely to Hit Wider Financial System
17.5.2022
Recent weakness in bitcoin and equities doesn’t show any lag or lead effect, the bank’s analysts said
Bank of Spain Governor Highlights Need for Fast Regulation in Defi and Crypto
13.5.2022
Pablo Hernández de Cos, governor of the Bank of Spain and chair of the Basel Committee on Banking Supervision, explained that the cryptocurrency space and decentralized finance (defi) need to be regulated swiftly to avoid risks of financial instability. Hernandez de Cos also mentioned how this...
Coinbase Ventures Backed Startup to Build Pan-African Crypto Exchange With $23 Million Capital Raise
13.5.2022
The African startup, Mara, recently said it has raised about $23 million in funding from organizations ranging from Coinbase Ventures to individual angel investors like Amit Bhatia and Hamad Alhoimaizi. Mara has also partnered with the Central African Republic (CAR) and will act as an adviser...