With The E-Krona, Sweden Is Attacking The Virtues Bitcoin Is Built To Protect
As they increase financial surveillance and control, Swiss authorities are inadvertently making the case for Bitcoin as an alternative.
Sanctioned Russian Bank Tests In-app Operations With Digital Rubles
A Russian bank, one of the country’s largest by assets, has conducted a successful trial with digital ruble transactions processed through its mobile app. The state-owned Promsvyazbank was one the institutions placed under Western sanctions earlier this year in connection with Moscow’s actions in Ukraine. Russian Bank Experiments With Digital Ruble Transfers via Mobile Application […]
Ghanaian Central Bank Allays Fears That a CBDC Will Disrupt Mobile Money Operations
The Bank of Ghana has said the expected implementation of the central bank digital currency will not disrupt or negatively impact the operations of mobile money operators. Rather, the central bank expects the digital currency to improve the efficiency of Ghana’s settlement systems as well as to “fast-track cross border trade.” CBDC to Complement Mobile […]
Report: Morocco Central Bank Discusses Crypto Regulation Best Practices With IMF and World Bank
The Moroccan central bank is currently holding talks with multilateral lending institutions and other central banks, centered on establishing cryptocurrency regulation best practices. Inevitable Adoption of Cryptocurrencies The Moroccan central bank governor, Abdul Latif Al Jawhari, has said his institution is currently in discussion with the International Monetary Fund (IMF) and the World Bank, about […]
Pakistan Central Bank Governor on Cryptocurrency: ‘The Potential Risks Far Outweigh the Benefits’
The Pakistani central bank governor, Reza Baqir, recently revealed that his organization has determined the risks posed by cryptocurrencies “far outweigh the benefits.” The governor, however, suggested that if solutions that address these potential risks emerge, the central bank “is open to looking at them.” Crypto Said to Have No ‘Real Economic Benefits’ for Pakistan […]
Jamaica Has Everything Ready For Its New Jam-Dex CBDC
Jamaica is polishing up everything before launching its new CBDC, and its Central Bank revealed its name. Say hello to the Jam-Dex.
President of Central Bank of Peru Criticizes Crypto, Citing Lack of Intrinsic Value and Climate Change
Julio Velarde, the president of the Central Bank of Peru, attacked the value of cryptocurrencies and referred to negative effects they are said to have on the environment. In a recent interview with local media, Velarde said the Bank did not consider bitcoin a payment method. Instead, Velarde referred to it as a “highly volatile […]
PBOC Reveals Central Bank Digital Currency Usage at Beijing Winter Olympics — 2 Million Digital Yuan per Day
The People’s Bank of China (PBOC), the Chinese central bank, has revealed how its central bank digital currency (CBDC) is being used at the Beijing Winter Olympics. A top PBOC official says, “It seems all the foreign users are using hardware wallets.” Digital Yuan’s Latest Trial A top official from the Chinese central bank, the […]
US Senator: China’s Digital Currency Could Subvert US Sanctions, Enhance Surveillance Capabilities
A U.S. senator has warned about China’s central bank digital currency. “Analysts have raised the eCNY’s potential to subvert U.S. sanctions, facilitate illicit money flows, enhance China’s surveillance capabilities, and provide Beijing with ‘first mover’ advantages,” the senator informed Treasury Secretary Janet Yellen. U.S. Senator Warns About the Threat From China’s Central Bank Digital Currency […]
RBI: Cryptocurrency Is a Big Threat to Macroeconomic and Financial Stability in India
The governor of India’s central bank, the Reserve Bank of India (RBI), has reiterated his concerns that cryptocurrency is a “big threat” to the country’s financial and macroeconomic stability. He also warned investors of the risks of investing in crypto, stating this type of investment has no underlying value. RBI’s Multiple Concerns About Crypto Reserve […]