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Crypto Trading, Investing Illegal in Iran, Central Bank Governor Reiterates
14.8.2022
It is illegal to buy or sell cryptocurrency in Iran, the head of the country’s monetary authority has recently reminded citizens and businesses. The governor noted, however, that mining cryptocurrencies and using them in payments for imports is not against the law in the Islamic Republic....
Central African Republic President Says Successful Launch of Sango Coin a Key Milestone
13.8.2022
According to Central African Republic President Faustin-Archange Touadéra, his country’s launch of the “Sango coin” currency, as well as the call for the creation of a common digital currency by the regional central bank, represent two key achievements for his country...
Philippines Will Stop Accepting Crypto License Applications for 3 Years, Regulator Says
13.8.2022
The central bank of the Philippines, Bangko Sentral ng Pilipinas, has announced that it will stop accepting crypto license applications for three years, starting next month. The central bank is the primary regulator of the crypto sector in the Philippines. Philippines Halts Accepting Crypto License...
Russia plans to roll out digital ruble across all banks in 2024
12.8.2022
Bank of Russia started CBDC testing in 2022 and expects to implement an official banking rollout in the year of presidential elections in 2024
Philippines Central Bank to Halt Applications for New Virtual Asset Firms for Three Years
11.8.2022
The Philippines' central bank is closing its application window for new virtual asset services providers (VASP) licences for three years from Sept. 1
Flutterwave Kenya License Controversy: Fintech Giant Reportedly Applied in 2019
11.8.2022
The Nigerian fintech unicorn, Flutterwave, reportedly said it submitted an application for a payment service provider license to the Central Bank of Kenya back in 2019. The fintech also said it has remained in constant contact with the central bank and is hopeful it will get the license....
Reserve Bank of Australia to Pilot Digital Currency, Explore Use Cases
10.8.2022
The monetary authority in Australia is beginning research into the potential economic benefits of issuing a central bank digital currency. Within the project, the regulator hopes to identify use cases and intends to develop a limited-scale pilot. Central Bank of Australia Working on Digital...
Thailand Plans to Tighten Crypto Oversight, Giving Central Bank More Powers to Regulate Digital Assets
10.8.2022
Thailand is reportedly preparing to amend its law on digital assets to tighten the oversight of the crypto sector and empower the Thai central bank to oversee the sector. “Right now, the central bank has no room to enter into the regulatory framework except for notifying that cryptos are...
Report: Nigerian Anti-Graft Body Identifies Individuals Fueling the Naira’s Rapid Depreciation
9.8.2022
Nigeria’s Economic and Financial Crimes Commission (EFCC) recently claimed it had identified individuals and organizations whose rapid accumulation of U.S. dollars recently accelerated the depreciation of the local currency, a report said. According to Abdulrasheed Bawa, the EFCC chairman...
US ethics advisory on federal employee's crypto has basis in legislation
8.8.2022
The Office of Government Ethics reminded federal agency ethics officers of current law and extended its interpretation of the law to mutual funds
Dozen Crypto Companies Await Portugal License Despite Bank Account Closures
8.8.2022
The central bank of Portugal is now reviewing 12 requests from businesses that want to provide crypto-related services in the country. The applications are pending decision amid recent reports that some commercial banks are closing accounts of already approved operators. Binance Among...
Nepal Prepares to Issue Digital Currency, Drafts Necessary Amendments
7.8.2022
A task force in Nepal has proposed legal changes allowing the country’s central bank to issue its own digital currency. The move comes after a study indicated that such an initiative is feasible and recommended certain provisions that would authorize the regulator to proceed with...
How Central Banks and CBDCs Could End Democracy
7.8.2022
Ori Freiman, Postdoctoral Fellow, Centre for Ethics, the University of Toronto._____
In recent years, we have witnessed a growing interest in the idea of central bank digital currencies. Similar to cash, central bank digital currencies are a form of money issued by central banks. ...
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Central Bank of Brazil Director Praises Bitcoin as a Financial Innovation, Talks Programmable Digital Real
6.8.2022
Fabio Araujo, Director of the Central Bank of Brazil, has praised the properties of Bitcoin, saying it is a financial innovation using new technologies. To Araujo, Bitcoin was the catalyst for what is today known as Web3. At an event, Araujo also commented about the status of the development of...
Nigerian Currency Recovers Versus US Dollar — Central Bank Says Importers Must Repatriate Forex Earnings
6.8.2022
After touching a new all-time low of N710 per dollar in late July, a new report says the Nigerian currency has rebounded by as much as 10%. After initially blaming speculators, the Central Bank of Nigeria has said importers who fail to remit forex earnings may be contributing to the naira’s...
Bitcoin Price Outlook for August: BTC Faces Some Important Tests in the Coming Weeks
6.8.2022
Exactly one month ago today, bitcoin was trading below $20,000 per unit as crypto markets continued to react to growing levels of inflation and central bank policy. However, a month later, the world’s leading crypto token has moved above $23,000, despite consumer prices rising...
Soaring Inflation Puts Central Banks on a Difficult Journey
5.8.2022
Tobias Adrian is the Financial Counsellor and Director, and Christopher Erceg and Fabio Natalucci are Deputy Directors at the International Monetary Fund (IMF)'s Monetary and Capital Markets Department.__________...
Read More: Soaring Inflation Puts Central Banks on a Difficult Journey
Thailand's Central Bank Extends Retail CBDC Study to Pilot Phase
5.8.2022
The announcement noted how central banks across the world were seeing "the potential of retail CBDC as being the foundation of the future financial system."
Inflation Is Spiking in Zimbabwe (Again). Why High-Interest Rates Aren’t the Answer
5.8.2022
Jonathan Munemo, Professor of Economics, Salisbury University._____
The central bank of Zimbabwe has raised its benchmark rate from 80% to a fresh record of 200%. This increase comes as Russia’s invasion of Ukraine is driving global commodity prices higher, exacerbating inflation in many countries...
Inflation Is Spiking in Zimbabwe (Again). Why High-Interest Rates Aren’t the Answer
5.8.2022
Jonathan Munemo, Professor of Economics, Salisbury University._____
The central bank of Zimbabwe has raised its benchmark rate from 80% to a fresh record of 200%. This increase comes as Russia’s invasion of Ukraine is driving global commodity prices higher, exacerbating inflation in many countries...