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Fed Observer Jim Grant Foresees Long-Term High Rates as FOMC Meeting Approaches
11.12.2023
Market participants, including both investors and traders, have their attention keenly set on the upcoming Federal Open Market Committee (FOMC) meeting, slated for Dec. 13, 2023. There is widespread speculation about whether Fed Chair Jerome Powell will continue to uphold the current elevated...
China and Singapore Team Up to Allow Tourists to Spend Digital Yuan
10.12.2023
Singapore and China have teamed up on a pilot to allow tourists in both countries to spend China’s central bank digital currency, the digital yuan. “This will enhance convenience for travelers when making purchases during their overseas travel,” Singapore’s central bank...
Central Bank of Italy and South Korea Strike CBDC Partnership on IT and Payment Systems
5.12.2023
Source: AdobeStock The Central Bank of Italy and South Korea have announced a partnership to collaborate on key areas like payment systems and IT in the development of Central Bank Digital Currencies (CBDCs). A Dec 5 press release by La Banca d’Italia disclosed the agreement which would see both...
Nigerian Supreme Court Extends Old Banknote Demonetization Deadline Again
1.12.2023
The Supreme Court of Nigeria has again extended the lifespan of the N1000, N500, and N200 naira notes. The Central Bank of Nigeria (CBN) also reiterated that all banknotes, including the previously demonetized naira, remain legal tender “ad infinitum, even beyond the initial 31 December 2023...
Fed’s ‘Beige Book’ Paints Dim Economic Picture, Experts Warn Central Banks ‘Have No Ability to Save Anything’
30.11.2023
On Wednesday, following the market’s closure, major U.S. indices concluded the day unchanged, coming off a rise the previous day. This surge was influenced by the dovish remarks made on Tuesday by Federal Reserve Governor Christopher Waller. Observers of the market infer that Waller’s...
BIS advises central banks to plan in advance for CBDC security
29.11.2023
From legal issues to hackers, launching a CBDC is fraught with risks, and BIS has a big list of them to consider
Standard Chartered Bank Begins Offering Digital Yuan Exchange Services in China
29.11.2023
Standard Chartered Bank (China) has become one of the first foreign banks to participate in China’s central bank digital currency (CBDC) pilot. The bank explained that as an international bank rooted in the Chinese market for 165 years, Standard Chartered is optimistic about the development...
Nigeria’s NITDA advocates AI integration in payments for global recognition
24.11.2023
NITDA chief Kashifu Inuwa Abdullahi said it’s crucial to take proactive measures to harness AI benefits and mitigate threats
Singapore to restrict retail crypto speculation with new rules
24.11.2023
According to MAS, speculative cryptocurrency trading is partly fueled by unverified success stories, celebrity endorsements and the fear of missing out (FOMO) on good returns
Spain’s Central Bank Governor Says Digital Euro Not Consumer Priority, Pushes for Wider Collaboration
22.11.2023
The Governor of Spain’s central bank, Pablo Hernandez de Coz says there is no urgent desire among users in the jurisdiction for a Central Bank Digital Currency (CBDC), explains the digital euro’s roadmap. In a recent speech at the Annual Convention of the Associacion de Mercados ...
Fed Minutes Release May Be a Non-Event for Bitcoin
21.11.2023
The minutes of the Nov. 1 Fed meeting may be outdated, given the post-meeting softness in economic data and resulting expectations for renewed interest-rate cuts in 2024
Singapore Unveils Plan to Ensure Seamless Financial Transactions Across Digital Asset Networks
21.11.2023
The Monetary Authority of Singapore’s managing director has outlined the central bank’s plan to ensure seamless financial transactions across digital asset networks. “Currently, there is a proliferation of digital asset networks,” the head of Singapore’s central bank said....
Dutch Central Bank Director Props Up Gold for Financial Collapse Scenario
20.11.2023
Aerdt Houben, Director of Financial Markets for the Dutch Central Bank (DNB), has talked about the value gold could have in a financial collapse scenario. As the bank has been recently increasing its gold holdings, Houben stated that due to its properties, gold might serve as a hedge in the case...
IMF Chief Says Central Bank Digital Currencies Can Replace Cash — Urges Public Sector to Prepare for CBDC Deployment
18.11.2023
International Monetary Fund (IMF) Managing Director Kristalina Georgieva says central bank digital currencies (CBDCs) can replace cash. She has urged the public sector to “keep preparing to deploy CBDCs and related payment platforms,” emphasizing that these platforms “should...
‘Primitive’ stablecoin lacks mechanisms that maintain fiat stability: BIS
17.11.2023
The answer again is regulation, although this time the suggested regulation looks a lot like central bank co-option
Singapore central bank to trial live wholesale CBDC for settlements
17.11.2023
The Monetary Authority of Singapore has unveiled its plan to launch a live wholesale CBDC used for settlements by local banks
Singapore introduces five new pilots to test asset tokenization
15.11.2023
The latest initiatives led by the Monetary Authority of Singapore aim to develop foundational capabilities to scale tokenized markets
Latam Insights: Unlicensed Crypto Exchanges Still Allowed to Operate in Brazil, Lightning Strikes Salvadoran Bitcoin ATMs
14.11.2023
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 Brazil confirms that unlicensed exchanges can still operate in the country; El Salvador will integrate Lightning Network transactions...
Fed Chair Powell’s Hawkish Tone Rattles Markets as Inflation Concerns Persist
10.11.2023
Amid an uncertain economic landscape, Federal Reserve Chair Jerome Powell’s recent remarks have amplified the debate on the sufficiency of prevailing interest rates. Even with robust gross domestic product growth, Powell’s address indicated the Fed’s stern stance, as he noted...
CBDCs Are 'Central' to Innovating Financial Systems, BIS Chief Says
8.11.2023
Central banks will have a limited role to play relative to the private sector in CBDC issuance, the group's general manager Agustín Carstens said