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US Lawmaker Introduces Bill to Dismantle Fed’s Board of Governors and Abolish the Central Bank
17.5.2024
Following the policymaker’s survey, U.S. Representative Thomas Massie (R-Ky.) announced the introduction of H.R. 8421, known as the “Federal Reserve Board Abolition Act.” This legislation aims to dismantle the Board of Governors of the Federal Reserve and close its branches across...
US Lawmaker Introduces Bill to Dismantle Fed’s Board of Governors and Abolish the Central Bank
17.5.2024
Following the policymaker’s survey, U.S. Representative Thomas Massie (R-Ky.) announced the introduction of H.R. 8421, known as the “Federal Reserve Board Abolition Act.” This legislation aims to dismantle the Board of Governors of the Federal Reserve and close its branches across...
China Expands Digital Yuan Pilot: Hong Kong Residents Can Now Set up E-CNY Wallets Locally
17.5.2024
The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) have advanced the digital yuan (e-CNY) pilot for payments, aiming to increase e-CNY wallet usage in Hong Kong. Residents can now set up and top up wallets via the Faster Payment System (FPS), marking the first global...
Hong Kong digital yuan pilot lacks P2P capabilities
17.5.2024
While Hong Kong residents can sign up for a digital yuan (e-CNY) wallet with a phone number, the CBDC is currently restricted to cross-border transactions and cannot be used for person-to-person transfers within Hong Kong
Tens of Thousands Show Overwhelming Support for Abolishing the Fed, US Policymaker’s Poll Reveals
16.5.2024
On May 15, Thomas Massie, a Republican member of the United States House of Representatives, posted on X, inquiring whether he should introduce legislation to abolish the U.S. Federal Reserve. The poll garnered over 115,000 votes, with a significant 86% majority opting to “end the Fed.”...
Bitcoin Has Best Day in 2 Months as Markets Anticipate a ‘Summer of Easing'
16.5.2024
The net percent of global central banks cutting rates is increasing in a positive sign for risk assets, including cryptocurrencies
Despite $250 Billion Worth of Transactions, Digital Yuan Users Prefer Physical Cash
13.5.2024
Some participants of China’s Central Bank Digital Currency (CBDC) pilot program, specifically state workers paid in digital yuan (e-CNY), are quickly converting their digital currency to physical cash due to concerns over its utility and lack of incentives like interest on savings. Despite...
Philippines begins Peso-backed stablecoin sandbox testing
13.5.2024
The test aims to evaluate PHPC's real-world performance, its impact on the local fiat ecosystem, and its potential uses including payments, trading, and DeFi applications
Philippine Central Bank Approves Peso-Pegged Stablecoin for Faster Remittances
13.5.2024
The Bangko Sentral ng Pilipinas, the central bank of the Philippines, has approved PHPC, a stablecoin pegged to the Philippine peso, aimed at facilitating cost-effective remittances. Crypto exchange Coins.ph, the stablecoin issuer, plans to attract 20,000 to 30,000 users in the first month....
Rwandan Research Paper Recommends CBDC With ‘Partial Pseudo-Anonymity’
9.5.2024
A recent research paper from the National Bank of Rwanda recommends a two-tier, universal, zero-interest central bank digital currency (CBDC) with partial pseudo-anonymity. Although the research paper identifies 15 opportunities for CBDC, only four are said to offer “high potential benefits...
ECB’s Joachim Nagel Urges Central Banks to Evolve: ‘We Need to Work on Our Business Model’
8.5.2024
Joachim Nagel, President of the Deutsche Bundesbank and Member of the Governing Council of the European Central Bank (ECB), has raised concerns about central banks’ business model. “If part of your core product is loosening attractiveness then you have to think about another new core...
CBDCs, stablecoins must ensure libertarian values — former CFTC chair
8.5.2024
J. Christian Giancarlo has stressed the importance of upholding values of liberty, privacy and economic freedom in a keynote address in London
Chainalysis sets up regional HQ in Dubai amid local crypto boom
8.5.2024
Chainalysis relocates regional headquarters to Dubai reflecting the UAE’s progressive stance toward blockchain technology
Nigerian stakeholders demand Binance reveal identity of bribe agent
8.5.2024
SIBAN’s executive secretary, Rume Ophi, stressed that Binance should reveal names to substantiate the claim and allow authorities to address wrongdoing
Cryptocurrency Imports in Brazil Break Records and Begin to Affect Trade Balances
8.5.2024
Purchases from foreign cryptocurrency exchanges, considered imports, have broken records in Brazil, putting some weight into the nation’s trade balance. During the last 12 months, cryptocurrency purchases reached $14.84 billion, after reaching $12.3 billion last year. Likewise, crypto imports...
India Working on Offline Transferability of Digital Rupee, Says Central Bank Governor
8.5.2024
India’s central bank, the Reserve Bank of India (RBI), is in the process of making its central bank digital currency (CBDC) available without relying on internet access. RBI Governor Shaktikanta Das has emphasized the importance of ensuring the digital rupee’s ease of use. RBI Governor...
Central banks must revise business model, embrace CBDCs — ECB member
6.5.2024
Bundesbank’s president Joachim Nagel urged central banks to revamp their business models and adopt digital currencies during the BIS Innovation Summit
Analysts: Gold Rush In China Is Propping Prices Up
6.5.2024
The interest and high demand for gold products in China is one of the factors that is propping the price of the precious metal up in international markets. Several analysts believe that the loss of confidence in traditional investment options in China, and the geopolitical factors and U.S....
Nigerian fintechs crack down on crypto, users face account blocks
3.5.2024
The CBN's attitude to crypto has been inconsistent in recent years and the crackdown contradicts a decision taken in 2021 to facilitate crypto account opening
Nigeria restricts fintech onboarding to stop KYC-evading crypto investors
1.5.2024
Nigerian fintech firms OPay, Kuda Bank, Moniepoint and PalmPay were directed to pause the creation of new accounts amid an ongoing audit of their KYC processes