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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…

Despite Using Euro, Montenegro to Develop Own Digital Currency With Ripple

[Apr 13, 2023 5:30 AM] Montenegro intends to create and issue its own digital currency with help from U.S.-based crypto company Ripple. The Southeast European nation, which adopted the euro unilaterally, is moving to realize the plan despite the eurozone developing a…

Economists Expect the Fed to Reveal Another 25bps Rate Hike Before Pausing for the Rest of 2023

[Apr 10, 2023 8:00 AM] After the March rate hike by the Federal Reserve, economists believe that the recent move by Saudi Arabia and several members of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production could complicate the central…

‘Not Related to a Digital Currency’ — US Central Bank Addresses Concerns Over Fednow Payment Network

[Apr 9, 2023 7:34 AM] The U.S. Central Bank has issued an update regarding the Federal Reserve’s Fednow project, which is scheduled to commence in July. The Fed has responded to recent criticism of the Fednow service and asserts that the Fednow payment network is…

Core Inflation on Upward Trend, Further Rate Hikes Expected, ECB Execs Say

[Apr 7, 2023 11:30 AM] Amid underlying inflationary pressures, further interest rate increases may still be needed, members of the European Central Bank’s Governing Council have admitted. At the same time, the cycle with the highest hikes may soon be over, the officials…

Nigerian crypto foreign investment is at a record low: Study

[Apr 6, 2023 3:20 AM] Foreign direct investment in Nigeria fell by 33% last year due to a severe shortage of dollars, which discouraged crypto companies from expanding into the country.

Household Crypto Holdings Included in Bank of Russia’s Consumer Finance Survey

[Apr 2, 2023 11:30 PM] The Central Bank of Russia has added crypto asset holdings of households to its survey of consumer finances. The statistics reveal that Russian families keep more money in cryptocurrency wallets than in gold investment accounts or mutual funds…

Stress test? What Biden’s bank bailout means for stablecoins

[Apr 2, 2023 8:13 AM] A major stablecoin depegging event raised concerns about the stability of these assets amid a U.S. banking crisis. The result may have been an improvement in their position in traditional finance.

European Banking Federation shares its vision of digital euro, wCBDC, bank tokens

[Mar 28, 2023 11:30 AM] The EBF calls itself the voice of the European banking sector; it expressed its support for European digital money, with suggestions of its own.

UBS’s acquisition of Credit Suisse brings some good and bad for crypto

[Mar 27, 2023 7:54 AM] Many in Switzerland have said that UBS’ takeover of Credit Suisse was necessary to avoid a calamitous banking crisis like that seen in 2008.

A Look at the Fed’s Recent Custodia Bank Denial and the Central Bank’s Push Back Against Narrow Banking

[Mar 26, 2023 10:30 PM] Over the past century, the number of American banks has significantly decreased, dropping from 30,000 banks in 1921 to 4,997 U.S. banks in 2021, according to data from the Federal Reserve. Recently, the U.S. central bank denied Custodia Bank of…

Custodia Bank's membership denied for ties with crypto markets, says US Fed

[Mar 25, 2023 10:35 AM] The United States Federal Reserve released an 86-page report on March 24 detailing the reasons for denying Custodia Bank's application for membership.

Digital Euro Key for European Payment Autonomy, ECB President Lagarde Says

[Mar 24, 2023 8:00 AM] The digital euro has an important role in preserving the payment autonomy of Europe, the head of the eurozone’s monetary authority emphasized. The new currency, which is still under development, is meant to be sovereign and safe, cheap and widely…

UAE Unveils CBDC Strategy, First Phase to Be Completed by Mid-2024

[Mar 24, 2023 1:12 AM] The United Arab Emirates expects to complete the first phase of its central bank digital currency strategy over the next 12 to 15 months.