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Bank profits at risk from potential CBDC transformation of global economy: Moody’s

[Mar 23, 2023 3:30 PM] CBDCs are here to stay, it seems, and Moody’s is looking at their implications for the global economy and international banking.

UAE central bank signs deal for CBDC strategy

[Mar 23, 2023 7:20 AM] The CBDC strategy was first unveiled in February as part of the central bank’s program to position the UAE as a global financial hub.

Federal Reserve Hikes Rate by 25bps to Keep Inflation at Bay, Aims for 2% Inflation Rate by 2025

[Mar 22, 2023 1:05 PM] Following the fallout over the past two weeks in the U.S. banking industry, the Federal Reserve raised the federal funds rate by 25 basis points (bps) on Wednesday, citing the need for the inflation rate to return to 2% over the long run. Fed…

US Central Bank’s Fednow Payment Service to Launch in July, Economist Calls Timing ‘Suspicious’

[Mar 22, 2023 11:30 AM] According to the U.S. Federal Reserve, the central bank’s Fednow payment service will start operating in July, and participants will be certified in April to leverage the Fednow Pilot Program. Ken Montgomery, the Fednow program executive, is…

Nigeria CBDC adoption spikes as fiat currency shortage grip the nation

[Mar 22, 2023 2:12 AM] The acute cash shortage in Nigeria was due to the central bank’s decision to replace older bank notes with bigger denominations amid rising inflation.

Elon Musk Criticizes Federal Reserve’s Data Latency and Calls for Immediate Rate Drop Amidst Banking Chaos

[Mar 18, 2023 10:30 AM] Amidst the chaos in the U.S. banking sector, Elon Musk, the CEO of Tesla and owner of Twitter, has been critical of the country’s central bank. Musk insists that the U.S. Federal Reserve is operating with “way too much latency in their…

Russian Parliament Votes on Bill Opening Door for Digital Ruble

[Mar 18, 2023 1:30 AM] Russian lawmakers have approved a draft law facilitating the implementation of the digital version of the national currency, the ruble. The legislation amends various other acts to introduce definitions and establish procedures related to the…

More 186 US banks well-positioned for collapse, SVB analysis reveals

[Mar 17, 2023 11:33 PM] Rising interest rates, which brought down the U.S. banking system’s market value of assets by $2 trillion, combined with a large share of uninsured deposits at some U.S. banks, threatens their stability.

‘Next Round of Bailouts Is Here’ — Bitcoin and Precious Metals Soar Amid Speculation of Fed Policy Change

[Mar 17, 2023 2:30 PM] At around 7:30 a.m. ET, the price of bitcoin skyrocketed past the $27,000 range to a high of $27,025 per unit. Precious metals, or PMs, like gold and silver, also rose between 1.98% and 2.12% against the U.S. dollar over the past day. While many…

Banking crisis: What does it mean for crypto?

[Mar 17, 2023 11:00 AM] Cointelegraph breaks down the main events that led to the collapse of Silvergate, SVB and Signature Bank and explains what this all could mean for crypto.

CBDCs could provide smooth cross-border payments, says Bank of Israel official

[Mar 15, 2023 8:20 AM] Yoav Soffer, the advisor to the deputy governor and CBDC project manager, spoke at Tel Aviv FinTech Week, explaining how a recent CBDC experiment proved efficient in cross-border transactions.

Binance to Restrict Ukrainian Hryvnia Operations Via 2 Payment Providers

[Mar 15, 2023 7:00 AM] Crypto exchange Binance will stop processing transactions with Ukrainian hryvnia through two payment platforms later in March. The move follows an earlier suspension of deposits and withdrawals using bank cards in the national currency of Ukraine…

Banks collapsing; stablecoins depegging — What is happening? Watch The Market Report live

[Mar 14, 2023 10:00 AM] On this week’s episode of The Market Report, Cointelegraph’s resident experts explain what is going on with banks collapsing, stablecoins depegging and what you should do to stay safe.

Bank of Russia Registers Another Digital Asset Issuer

[Mar 12, 2023 11:30 PM] The Central Bank of Russia has added another entity to its register of authorized issuers of digital financial assets. The platform, called ‘Masterchain,’ becomes the fifth ‘information system operator’ in the country that can legally tokenize…

Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company

[Mar 11, 2023 4:30 PM] After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England has closed the company’s U.K.-based arm. The central bank explained that it intends to place the subsidiary into bank insolvency procedures. Fallout From…

Iran’s Crypto Rial Project Enters Trial Phase

[Mar 10, 2023 3:30 AM] The pre-trial stage of the project to introduce a digital Iranian rial has been completed successfully, the country’s central bank announced. The authorities in Tehran plan to expand the use of the state-backed currency and integrate it into Iran’s…

BIS wraps exploration project on retail CBDC payment system

[Mar 6, 2023 10:30 AM] The bank concluded that a ‘hub-and-spoke’ model between CBDC domestic systems could “reduce settlement and counterparty risk" and complete cross-border transactions in seconds.

Iran completes pre-pilot phase of central bank digital currency

[Mar 6, 2023 4:30 AM] The Central Bank of Iran progresses with CBDC development in anticipation of a visit by the Bank of Russia’s governor Elvira Nabiullina.

Pakistan banks agree on blockchain-based KYC system development

[Mar 6, 2023 1:30 AM] The blockchain-based national eKYC banking platform is aimed at strengthening anti-money laundering (AML) capabilities while countering terror financing.

Pakistan Banks to Use Blockchain Technology for KYC

[Mar 5, 2023 10:30 PM] Banks in Pakistan plan to launch an electronic platform for know-your-customer procedures that will be operating on a national level. The blockchain-based system will allow them to exchange the personal information of customers through what they…

Crypto Exchanges Binance and Kuna Suspend Card Transactions in Ukrainian Hryvnia

[Mar 4, 2023 11:00 PM] Major cryptocurrency exchanges operating in Ukraine have temporarily suspended operations with hryvnia bank cards. The measure stems from restrictions imposed by the country’s central bank, Binance and Kuna indicated in comments for crypto media…

India explores offline functionality of CBDCs: RBI executive director

[Mar 4, 2023 1:49 AM] In addition to offline functionality, RBI is gauging CBDC’s potential for cross-border transactions and linkage with legacy systems of other countries.

Australian central bank to launch ‘live pilot’ of CBDC in coming months

[Mar 1, 2023 4:35 PM] The use cases for the CBDC ranged from offline payments to “trusted Web3 commerce” and financial industry participants were invited to undertake a live pilot.

Bank of England has no tech skills to issue CBDC yet: Deputy governor

[Feb 28, 2023 7:29 AM] BoE deputy governor Jon Cunliffe compared a potential digital pound with iPhone’s Apple Store as it could “open a new frontier for people to improve payments.”

FSB, IMF and BIS papers to set global crypto framework, says G20

[Feb 26, 2023 9:54 AM] A series of recommendations and papers setting standards for a global crypto regulatory framework will be released by the institutions in July and September.

U.S. Treasury Janet Yellen calls for 'strong regulatory framework' for crypto activities

[Feb 25, 2023 2:07 PM] On the sidelines of the G20 meeting, U.S. Treasury Secretary Janet Yellen said the country is not pushing for an outright banning of crypto activities.

Commodity Strategist Mike McGlone Predicts a Recession as Top Catalyst for Gold’s Rise Above $2,000

[Feb 24, 2023 4:00 PM] This week, Bloomberg Intelligence senior macro strategist Mike McGlone shared his March outlook and noted that the “top catalyst” that could push gold above the $2,000-per-ounce range is a recession. McGlone further explained in an…

IMF offers Jordan’s central bank recommendations for implementing retail CBDC

[Feb 24, 2023 3:40 PM] The IMF mission spent three months studying conditions in the country, which is preparing to produce a feasibility report.

Bitcoin must leverage $1T central bank liquidity to beat sellers — Research

[Feb 22, 2023 10:21 AM] BTC price action is all but guaranteed to benefit from extra central bank liquidity, but the journey higher is fraught with difficulty, says QCP Capital.

BIS head claims fiat won battle with crypto, Bitcoin community disagrees

[Feb 22, 2023 7:33 AM] BIS General Manager Agustín Carstens reckons the war between fiat and crypto has been won by fiat. The community would tend to disagree.