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Fed Governor Bowman Insists High Inflation Could Necessitate Future Rate Hikes
7.4.2024
Inflation in the U.S. has remained persistent, experiencing increases in the first two months of 2024, prompting members of the U.S. Federal Reserve to exercise caution against premature rate reductions. Federal Reserve Governor Michelle Bowman has voiced considerations for elevating interest...
India’s Digital Rupee Expands: Non-Banks to Offer Central Bank Digital Currency Wallets
6.4.2024
India’s central bank has announced that it will enable non-bank payment system operators to offer central bank digital currency (CBDC) wallets. Noting that “necessary changes will be made to the system to facilitate this,” the Reserve Bank of India (RBI) said the initiative...
Central Banks to Explore Tokenization of Cross-Border Payments With Project Agora
3.4.2024
A consortium of central banks worldwide, led by the Bank for International Settlements (BIS), announced a new initiative "Project Agora" to explore the potential of tokenization to enhance existing financial systems.
The post Central Banks to Explore Tokenization of Cross-Border Payments With...
Markets Tumble as Fed Rate Cut Expectations Diminish
3.4.2024
Attention is riveted on the Federal Reserve’s assembly set for May 1, with widespread anticipation that the U.S. central banking authority might lower the federal funds rate at this juncture of the year. Currently, market forecasts suggest a rate reduction is very unlikely, and Cleveland...
Russia to Clarify Cryptocurrency Mining Gray Areas, Including Payments
27.3.2024
Anton Siluanov, the finance minister of Russia, is prepared to discuss the gray areas surrounding cryptocurrency mining and the use of its proceeding for payments. In a recent lecture, Siluanov stated that the government needed to agree “on what can be done with cryptocurrency,”...
Russia Discusses Testing Digital Ruble for Budget Payments
27.3.2024
The Central Bank of Russia and the Russian treasury are considering testing using the Russian CBDC, the digital ruble, to complete budget settlements. The tests would involve using this CBDC to make payments to businesses and citizens and receiving payments from these in CBDC, to ensure...
UAE Introduces CBDC Implementation Strategy – Here’s What’s Inside
26.3.2024
The UAE's central bank has announced a comprehensive strategy to implement a central bank digital currency (CBDC) for retail and wholesale use. In partnership with technology providers R3 and G42 Cloud, the UAE envisions that digital dirham will streamline cross-border transactions, enhance...
Zano Blockchain’s Hard Fork Facilitates Privacy Coin Creation, Introduces Confidential Assets
25.3.2024
The Zano blockchain’s recently completed Zarcanum hard fork (HF4) will enable users and organizations to create custom tokenized assets that meet their specific needs. These custom tokenized assets or confidential assets, will be untraceable on the Zano blockchain. The team believes that...
Latam Insights: Chile to Keep Advancing CBDC Tests, Argentina Debuts VASP Registry
25.3.2024
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: the Central Bank of Chile will keep experimenting with CBDC, Argentina’s VASPs will have to register to provide services in the country, and Argentines...
Russian Central Bank, Ministry of Finance to Settle Crypto Policy Differences
25.3.2024
The Russian Ministry of Finance says it wants to settle its long-standing crypto policy differences with the nation’s Central Bank.
The post Russian Central Bank, Ministry of Finance to Settle Crypto Policy Differences appeared first on Cryptonews
Sweden’s Riksbank Releases Final Report on CBDC Project
21.3.2024
Sweden’s Riksbank has released its final report on its central bank digital currency (CBDC), the e-Krona, which focused on offline payments.
The post Sweden’s Riksbank Releases Final Report on CBDC Project appeared first on Cryptonews
Bank of Japan Ends Eight-Year Negative Rates Regime; Bitcoin Slides to $62.7K
19.3.2024
The BOJ hiked the benchmark borrowing cost by 10 basis points, abandoning the prolonged negative interest rate policy
Real-World Assets Platform Gluwa Considers Developing Liberia’s CBDC
19.3.2024
The real-world assets platform, Gluwa, is exploring the potential to assist in the development and launch of Liberia’s central bank digital currency. To increase the likelihood of the digital currency’s success, Gluwa is also considering the launch of a satellite-based internet service. Making...
Global Surge in CBDC Exploration Leaves US Playing Catch-Up: Study
14.3.2024
An Atlantic Council study showed that 134 countries, or 98% of the global Gross Domestic Product (GDP), are currently exploring a central bank digital currency (CBDC). This number has surged from just 35 since May 2020.
The post Global Surge in CBDC Exploration Leaves US Playing Catch-Up: Study...
Financial Markets Tense as Inflation Rise Suggests US Central Bank May Keep Rates Steady
13.3.2024
The U.S. Consumer Price Index (CPI), experienced a 3.2% increase over the 12 months ending in February, marginally higher by 0.1% compared to January’s CPI. This development is not being well-received by the financial markets, as the U.S. Federal Reserve might postpone any reductions in...
Speculation Intensifies Over US Banking Sector’s Fate as Fed’s BTFP Closure Looms
10.3.2024
This weekend, many are intrigued by the potential outcomes following the cessation of the U.S. Federal Reserve’s Bank Term Funding Program (BTFP), launched amidst the significant banking collapses in March 2023. Some argue that the banking turmoil is far from over, suggesting it has merely...
Nigerian Central Bank, Real-World Asset Firm Partner to Revive Struggling CBDC
9.3.2024
Gluwa, a platform for real-world assets, announced on March 7 its partnership with the Central Bank of Nigeria. The partnership arrangement aims to improve the functionality of the Nigerian central bank’s digital currency and promote financial innovation through blockchain technology. Improving...
Jerome Powell Clarifies: US Far From Introducing a Central Bank Digital Currency
8.3.2024
Federal Reserve Chair Jerome Powell stated before the Senate Committee on Banking, Housing, and Urban Affairs that the United States is far from adopting or even recommending the introduction of a central bank digital currency (CBDC), emphasizing a significant distance from such a possibility....
Fed Chair Powell Eases CBDC Concerns: US Far From Direct Fed Accounts, Emphasizes Need for Congressional Approval
7.3.2024
Federal Reserve Chairman Jerome Powell engaged with the Senate Banking Committee, signaling that the U.S. is just beginning to contemplate the introduction of a central bank digital currency (CBDC). Powell Assures No Direct Fed Accounts in CBDC Plans, Seeks Congressional Go-Ahead In...
Latam Insights: El Salvador Won’t Sell Its Bitcoin, Bitcoin Spot ETFs Land In Brazil and Peru
4.3.2024
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: President Bukele states El Salvador will not sell its bitcoin, Bitcoin ETFs land in Brazil and Peru, and Argentine President Javier Milei aims to criminalize...