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Understanding the Currency Sector in CoinDesk Indices DACS
9.8.2022
The Currency Sector is the largest Sector in CoinDesk Indices' DACS. It has the largest number of digital assets among the six sectors that make up DACS
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...
Brazilian Congress Fails to Vote on Cryptocurrency Bill, Next Discussion Scheduled for September
8.8.2022
The Brazilian Congress failed to address a proposed cryptocurrency bill this week. While the proposed public policy was indeed on the agenda, the deputy chamber focused on discussing bills that tend to other issues, including health and digital education problems. The digital currency bill...
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...
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...
Speculators and Crypto Traders Blamed for Naira’s Plunge, Kenyan Institutions Told to End Dealings With Nigerian Fintechs, CAR Token Sale off to Slow Start
4.8.2022
In this week’s Africa news highlights, the Nigerian central bank blames speculators for causing the local currency’s plunge to a new all-time low on the parallel market. In Kenya, the central bank has told financial institutions to cease having dealings with two Nigerian fintechs...
CBDC Could Be ‘Holy Grail’ of Cross-Border Payments, ECB Says, Sees Bitcoin as Less Credible
4.8.2022
Several solutions can potentially improve cross-border payments significantly and central bank digital currency (CBDC) could be the “holy grail,” according to the European Central Bank (ECB). In a new report, the eurozone’s monetary authority also claims stablecoins, among...
Bitwage Partners With Edge Wallet and Casa to Streamline Bitcoin Payroll Services to Mainstream Audiences
1.8.2022
The cryptocurrency payroll service Bitwage announced on Monday that the company has partnered with the digital currency wallets Casa and Edge Wallet in order to “bring bitcoin payroll to mainstream audiences.” Now Edge Wallet and Casa users can connect to the Bitwage platform’s...
Huobi gets green light as exchange provider in Australia
1.8.2022
Gibraltar-based cryptocurrency exchange Huobi has received the regulatory greenlight to offer its services in Australia
Israel puts the brakes on cash to spur digital payments
1.8.2022
It's believed that Israel will neither be the first nor last country to impose such measures
Analysts: BRICS Currency Meant to Rival USD, Trump Warns of Depression as Kiyosaki Predicts Bond Crash, Waits to Buy Bitcoin — Bitcoin.com News Week in Review
31.7.2022
BRICS nations have revealed they’re “creating an international reserve currency” analysts believe is meant to challenge the U.S. dollar and the International Monetary Fund’s Special Drawing Rights (SDR) currency. Further, Donald Trump warns of a depression in the U.S....
Report: The Central African Republic Requests Regional Central Bank’s Assistance in Crafting Crypto Regulations
31.7.2022
A new report has claimed the Central African Republic, which became the first country in Africa to make bitcoin legal tender, recently requested the regional central bank’s assistance in developing a cryptocurrency regulatory framework. The report also said the CAR had expressed...
Nigerian Currency Plunges to New All Time Low — Central Bank Blames Speculators
30.7.2022
The Nigerian central bank has accused currency speculators of being behind the local currency’s recent plunge to a new all-time low of N710 against the greenback. The leader of a Nigerian association of bureau de change operators insisted crypto trading may be to blame for the naira’s...
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: IMF Warns Kenyan Central Bank Against Introducing a CBDC That Harms Fintechs and Banks
29.7.2022
The global lending institution, the International Monetary Fund (IMF) has told the Kenyan central bank that its proposed digital shilling must “do no harm” to existing private sector digital money. The lender insisted the proposed central bank digital currency (CBDC) must “not...
Call for Creation of Common African Digital Currency, Kenyan Activists Turn to Crypto Funding, Ghana on the Brink
29.7.2022
In Bitcoin.com News’ inaugural newsletter featuring the biggest crypto and economic news stories from Africa, the head of an African regional central bank, Herve Ndoba, implores the bank’s board to introduce a common digital currency. At the same time, the regional bank warned that...
Foundry Digital Launches Logistics Arm to Advance Standards in the Cryptocurrency Mining Industry
28.7.2022
On Thursday, Foundry Digital LLC, the mining company and subsidiary of Digital Currency Group (DCG), announced the launch of Foundry Logistics in order to advance standards in the cryptocurrency mining industry. The newly launched arm of the company plans to “bridge the gap between hardware...
US Senators Introduce Bipartisan Bill to Exempt Small Crypto Transactions From Taxes
27.7.2022
A new bipartisan bill has been introduced in the Senate that would simplify the use of cryptocurrency for everyday purchases by creating tax exemption for personal crypto transactions under $50 as well as when the capital gains are less than $50. New ‘Virtual Currency Tax Fairness...
Report: Digital Currency Exchange Kraken Under Investigation for Violating OFAC Sanctions
27.7.2022
On Tuesday, a newly published report details that the cryptocurrency exchange Kraken is under federal investigation for allegedly violating U.S. sanctions, according to five people familiar with the matter. The unknown sources explained that the inquiry into Kraken started in 2019, and it’s...