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Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025

[Sep 16, 2024 5:30 AM] The Bank of Russia aims to open the payment infrastructure for the Russian central bank digital currency (CBDC), the digital ruble, by July next year. Larger banks will offer digital ruble accounts and services by this deadline, with smaller…

Swift Unveils Plan to Integrate Digital Assets and Currencies Into Global Payment Network

[Sep 15, 2024 12:30 AM] Swift has unveiled a plan to enable the movement of digital assets and currencies on its global payment network. The initiative aims to integrate regulated digital currencies into Swift’s platform, building on past experiments. “We’re…

North Carolina resists the CBDC tide with new payments ban

[Sep 13, 2024 2:00 PM] A new law in North Carolina seeks to ban CBDCs in the state, but there are questions about whether the new legislation is even legal. 

UAE’s central bank approves custodial risk insurance product for digital assets

[Sep 12, 2024 1:19 PM] OneDegree executive Robin Scott told Cointelegraph that the insurance covers Web3 asset managers against the risk of losing customer funds. 

Turkey’s $200 limit on cash payments: What does it mean for crypto?

[Sep 12, 2024 1:17 PM] Should the Turkish government pass new amendments, all cash payments above $205 would be subject to fines of 10%.

China’s Digital Yuan Nears $1 Trillion in Transactions, PBOC Official Reveals

[Sep 11, 2024 3:30 AM] China’s digital yuan initiative has advanced considerably, backed by over a decade of research and four years of pilot experimentation, according to Lu Lei, Deputy Governor of the People’s Bank of China (PBOC). Trials for the Chinese…

Accenture invests in Emtech to strengthen CBDC, fintech solutions

[Sep 10, 2024 7:21 PM] The deal will see Emtech’s CBDC solutions and its regulatory and compliance sandboxes integrated into Accenture’s offerings.

Moscow Exchange Opts out of Russia’s Crypto Trading Program

[Sep 9, 2024 5:30 AM] The Moscow Exchange (MOEX), Russia’s largest securities marketplace, will not participate in an experimental program for cryptocurrency trading, as confirmed by Nikolai Trunichkin, head of digital projects at the exchange. This decision…

Russia Expands Digital Ruble Pilot With New Features: Widespread Use Expected in 2025

[Sep 9, 2024 12:30 AM] Russia’s central bank is expanding its digital currency pilot program, involving 9,000 individuals and 1,200 companies. New features for the digital ruble, including payments via QR code, will be tested. Full-scale implementation is expected…

Russian Economy Sees Growth Despite Western Sanctions and Declining Imports

[Sep 2, 2024 1:30 AM] The Russian economy has experienced substantial growth across various sectors, with unemployment rates remaining historically low, despite ongoing Western sanctions related to the Ukraine conflict. Industrial production, driven by military…

Banks face new risks from permissionless blockchains, BIS warns

[Aug 30, 2024 1:23 PM] To mitigate risks associated with public blockchain networks, the paper proposed appointing an entity with the authority to “control and limit access” to cryptocurrency assets.

India mulls cross-border CBDC interoperability system

[Aug 28, 2024 8:03 AM] RBI Governor Shaktikanta Das advocates a plug-and-play system to enhance cross-border payment efficiency and CBDC interoperability.

The Fed Under Fire: Elizabeth Warren Pushes for Unprecedented Rate Cut

[Aug 27, 2024 4:05 PM] As the U.S. Federal Reserve’s Federal Open Market Committee (FOMC) gears up for its meeting on Sept. 18, anticipation is building for a rate cut. Market participants are placing their bets, with expectations leaning toward either a 25 basis…

Bank of Russia Eyes Stablecoins for Cross-Border Transactions

[Aug 27, 2024 11:20 AM] The Bank of Russia is exploring the use of stablecoins in cross-border transactions, considering them as digital financial assets (DFAs) under existing regulations if they have a responsible entity. The initiative may involve a limited group of…

Execs at crypto-friendly Evolve Bank leave amid regulatory crackdown: Report

[Aug 21, 2024 7:04 PM] The bank services several crypto-friendly financial technology companies.

MiCA regulation poses ‘systemic risk’ to banking system, says Tether CEO

[Aug 9, 2024 5:00 PM] According to Tether CEO Paolo Ardoino, recently approved MiCA regulations threaten both banks and stablecoin issuers.

EU MiCA implementation is a “pivotal moment” for crypto regulations: compliance expert

[Aug 2, 2024 1:05 PM] The European Central Bank recently joined forces with Crystal Intelligence, as its blockchain analytics partner for the upcoming MiCA implementation.

Can Bitcoin price break out after Bank of England interest rate cut?

[Aug 1, 2024 11:31 AM] This marks the bank’s first interest rate cut in over four years, with the last rate cut occurring in March 2020.

Russia to Initiate Crypto Payments Internationally by Year-End, Central Bank Governor Says

[Jul 31, 2024 1:30 AM] Russia plans to launch international cryptocurrency payments by the end of the year to counter Western sanctions, according to the governor of the Bank of Russia. The central bank is prepared to be flexible and is already discussing the conditions…

Digital euro to be ‘most private electronic payment option’

[Jul 30, 2024 1:29 PM] Since the inception of the digital euro, many critics have called the proposed digital currency a surveillance tool.

Potential Trump victory and rising global liquidy may benefit crypto, analyst says

[Jul 18, 2024 11:00 AM] Macroeconomist Lyn Alden assesses the impact of the 2024 US presidential election outcome on Bitcoin and the broader crypto industry.

Bahamas to Mandate Banks to Distribute Central Bank Digital Currency

[Jul 2, 2024 10:29 PM] The Bahamas, the first country to issue a central bank digital currency (CBDC) called the Sand Dollar, is preparing regulations to mandate commercial banks to provide access to the e-money to boost adoption. Central Bank Governor John Rolle…

European Central Bank releases first CBDC progress update

[Jun 24, 2024 12:10 PM] The ECB promised pseudonymization and independent audits of the CBDC system to calm consumer fears of tracking.

Iran to launch public CBDC pilot in June

[Jun 19, 2024 4:57 AM] Unlike other types of electronic money in Iran, the digital rial doesn’t require interbank settlement to transfer funds between buyers and sellers.

Ripple partners with National Bank of Georgia to digitize economy

[Jun 10, 2024 5:11 AM] Ripple continues to deepen its CBDC collaboration with the Republic of Georgia by exploring ways to digitize the local economy.

Bitcoin price hits $70K as spot and BTC ETF buying surges

[May 20, 2024 1:47 PM] Analysts believe Bitcoin price is en route to new highs now that the recent consolidation phase has come to an end.

Gold Prices Break Record Highs, Silver Also Rallies

[May 20, 2024 1:29 AM] Gold has continued rising in financial markets, hitting new all-time high (ATH) prices against the U.S. dollar. The precious metal’s price rose to levels close to $2,450 per ounce this Monday, fueled by geopolitical tensions and the…

Philippines begins Peso-backed stablecoin sandbox testing

[May 13, 2024 2:36 AM] The test aims to evaluate the PHPC stablecoin’s real-world performance, its impact on the local fiat ecosystem, and its potential uses, including payments, trading and DeFi applications.

Cryptocurrency Imports in Brazil Break Records and Begin to Affect Trade Balances

[May 7, 2024 9:38 PM] Purchases from foreign cryptocurrency exchanges, considered imports, have broken records in Brazil, putting some weight into the nation’s trade balance. During the last 12 months, cryptocurrency purchases reached $14.84 billion, after…

Central banks must revise business model, embrace CBDCs — ECB member

[May 6, 2024 3:10 PM] Bundesbank’s president Joachim Nagel urged central banks to revamp their business models and adopt digital currencies during the BIS Innovation Summit.