Brazil's Central Bank Selects 14 Participants for CBDC Pilot
[May 25, 2023 2:00 PM] Among those selected are the largest local banks, Visa and Microsoft.
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Norway could go its own way on crypto asset regulation, central bank suggests
[May 25, 2023 2:00 PM] International regulation may be too slow and may represent interests that are not in line with Norway’s, Norges Bank suggests in an annual report.
German banks slowly adopt crypto, mostly for institutional investors
[May 25, 2023 1:22 AM] Doubts regarding crypto remain among German banks, but there is a growing concern about missing out on a potentially game-changing development.
Putin Wants Limit on Currency Purchases for Russians Dealing With Foreigners
[May 23, 2023 4:30 PM] Russian citizens and firms doing business abroad may soon be restricted in the amount of foreign currency they are allowed to acquire, on order from Vladimir Putin. Russia’s head of state now wants his government to cap such purchases on the…
Ron Paul Denounces US Government ‘Deceptions’ on Inflation; Mentions Federal Reserve Involvement
[May 22, 2023 1:30 AM] Ron Paul, a former congressman from Texas and former U.S. presidential candidate, has reflected on how the U.S. government is handling inflation and how it has been deceitful on the issue. Paul believes that if the U.S. government were to really…
Bank of Russia Expects Significant Growth in Digital Assets Market
[May 20, 2023 4:30 AM] The Central Bank of Russia predicts an increase in the issuance of digital assets, citing some of their advantages. The monetary authority has published a report presenting the progress made by the growing industry and assessing the prospects for…
Banks Not Getting Anticipated Benefits From Rate Hikes, ECB Executive Admits
[May 19, 2023 5:30 AM] Eurozone banks are profitable but the benefits from higher interest rates may be smaller than expected, according to the deputy head of the single currency area’s monetary authority. The official noted that while most of the tightening has been…
Hong Kong Launches Digital Currency Pilot With 16 Firms Including HSBC, Bank of China, Alipay
[May 18, 2023 8:00 PM] The Hong Kong Monetary Authority (HKMA) has announced the commencement of its e-HKD pilot which “will take deep dives into potential use cases in six categories.” The pilot paves the way for “the possible implementation of a retail central bank…
Pakistan Announces Fresh Ban on Crypto, but Adoption as a Hedge Remains Popular
[May 18, 2023 11:25 AM] Pakistan's government has hardened its stance against cryptocurrencies, with Minister of State for Finance and Revenue Aisha Ghaus Pasha saying they will “never be legalized in Pakistan.”
Pakistan to Ban Online Services Related to Cryptocurrencies
[May 18, 2023 3:30 AM] Authorities in Pakistan intend to prohibit all internet-based crypto services despite significant digital-asset investments made by Pakistanis. The decision comes as government officials in Islamabad take a strong stance against the legalization of…
Zimbabwe sells millions of gold-backed crypto tokens despite IMF warning
[May 14, 2023 11:22 PM] The Reserve Bank of Zimbabwe’s first gold-backed cryptocurrency sale has been a success.
Hedge Fund Mogul Stanley Druckenmiller Warns of ‘Hard Landing’ for US Economy
[May 14, 2023 4:30 PM] Billionaire hedge fund manager Stanley Druckenmiller has a dire prediction for the U.S. economy: a recession is looming, and it’s likely set to hit this June. Druckenmiller’s forecast comes as American consumer spending remains low, and is…
Biden Appoints New Fed Vice Chair as Fedwatch Tool Shows Slim Chance of Rate Hike at June Meeting
[May 14, 2023 11:30 AM] Investors believe it is highly likely that the target rate will remain unchanged at the June 14 Federal Open Market Committee (FOMC) meeting, following the U.S. Federal Reserve’s decision to increase the federal funds rate by 25 basis points…
Inflation Expectations of Eurozone Consumers ‘Increased Significantly,’ ECB Says
[May 12, 2023 4:30 AM] Consumers in the euro area have sharply raised their expectations about inflation in the coming months, the European Central Bank revealed. Survey data showing this comes after the monetary authority slowed the pace of its rate hikes last week…
BIS issues comprehensive paper on offline CBDC payments
[May 11, 2023 9:30 AM] According to the Bank for International Settlements, offline payments with CBDC raise new risks related to counterfeiting, fraud and privacy concerns.
With The E-Krona, Sweden Is Attacking The Virtues Bitcoin Is Built To Protect
[May 11, 2023 6:00 AM] This is an opinion editorial by Peter Bistoletti, a Bitcoiner who has lived in Sweden since 1971.Sweden is the nightmare example of a state destroying financial privacy, winning the war on cash and having control of all financial transactions…
Nigeria goes blockchain: Policy could impact digital identity
[May 8, 2023 2:30 AM] Nigeria’s crypto community celebrates the approval of the National Blockchain Policy, set to impact governance, digital identity management and e-payments.
Digital Assets for 1 Billion Rubles Issued in Russia in a Month
[May 7, 2023 3:30 AM] Platforms authorized by the Russian government issued digital assets worth around a billion rubles in April, the local press reported. The spike in the volume has been attributed to Russian companies experimenting with new financial instruments…
The Need for Clarity in Washington – Not Just on Crypto
[May 5, 2023 10:31 AM] The recent ambiguous messaging from the Federal Open Market Committee's meeting, which left markets struggling to interpret signals from the FOMC statement and Chair Jerome Powell's comments, is typical of the abstruse signals that can be found in…
ECB Raises Interest Rates by 25bps Amid ‘Too High’ Inflation, ‘No Pause,’ Lagarde Says
[May 4, 2023 9:30 PM] The European Central Bank (ECB) raised its key interest rates by 25 basis points, slowing the pace from previous increases. However, as inflation in the euro area remains persistently high, future rate hikes may still be expected with the regulator…
Iran Sets Up Platform to Facilitate Crypto Payments for Imports
[May 3, 2023 5:30 AM] Authorities in Iran are taking steps to make crypto payments easier for companies importing goods in the sanctioned country. A dedicated platform has been established to allow local businesses to transfer cryptocurrency for the purpose of…
Russian Banks Set for Record Profits This Year, Central Bank, Rating Agency Say
[May 3, 2023 4:00 AM] Bank of Russia raised its forecast for the profits of Russian banks in 2023, expecting results that may break the 2021 record. This year’s high numbers are coming after 2022 became the worst annual period in seven years for the sanctioned Russian…
No Rate Hikes in Russia, Central Bank Keeps Interest Rate Level Again
[Apr 29, 2023 10:00 AM] Bank of Russia decided to maintain the interest rate at 7.5% amid moderate inflation, estimated at 2.5% on an annual basis in April, although this may change later this year. The monetary authority improved its forecast for the Russian economy and…
Mauritius planning to launch pilot project for retail digital rupee late this year
[Apr 28, 2023 11:08 AM] The governor of the Bank of Mauritius told a meeting of central bank technologists about the development of the island nation’s CBDC ambitions.
‘Not the Right Time to Stop’ Rate Hikes, ECB Chief Economist Says
[Apr 27, 2023 6:30 AM] Current indicators suggest the European Central Bank (ECB) should raise the interest rate in May, the monetary authority’s chief economist said. Future increases will depend on the economic data but this is still not the right time to stop…
Bank of Korea given right to investigate local crypto firms: Report
[Apr 23, 2023 10:28 PM] The South Korean central bank will be able to access crypto transaction data from exchanges operating in the country.
Russia to Work With Digital Currencies of Other Nations
[Apr 23, 2023 12:30 AM] The platform developed for the digital ruble will be able to operate with different state-issued digital currencies, the Bank of Russia said. Mechanisms for interaction with digital coins minted by the central banks of other countries are already…
Foreign trade and pensions: What’s next for Russia’s CBDC project?
[Apr 20, 2023 7:23 AM] The Russian digital ruble pilot launch was delayed until at least May, but the government still hopes to kick off the currency in 2024.
Gold Slides on Higher US Treasury Yields, Dollar
[Apr 19, 2023 11:30 AM] Prices of gold, and other precious metals, fell on Wednesday due to stronger U.S. yields and national currency. The decline comes on the backdrop of expectations of new interest rate increases next month amid persistent inflation in the United…
Russia Developing Payment Gateways With Partners Like Turkey, Mulling Crypto Settlements
[Apr 19, 2023 5:30 AM] Bank of Russia is building a system of gateways with foreign payment networks and is now working with Turkey in this field. Russia’s monetary authority would also allow the experimental use of cryptocurrencies in foreign economic activities, its…