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Nigeria restricts fintech onboarding to stop KYC-evading crypto investors

[May 1, 2024 2:00 AM] Nigerian fintech firms OPay, Kuda Bank, Moniepoint and PalmPay were directed to pause the creation of new accounts amid an ongoing audit of their KYC processes.

Chinese 'Crypto Dad' faces government investigation

[Apr 26, 2024 4:01 AM] Yao Qian, the first director of CBDC development at China’s central bank, is reportedly under investigation for suspected law violations.

Bank of Japan Ends Eight-Year Negative Rates Regime; Bitcoin Slides to $62.7K

[Mar 19, 2024 5:30 AM] The BOJ hiked the benchmark borrowing cost by 10 basis points, abandoning the prolonged negative interest rate policy.

Jerome Powell Clarifies: US Far From Introducing a Central Bank Digital Currency

[Mar 7, 2024 8:34 PM] Federal Reserve Chair Jerome Powell stated before the Senate Committee on Banking, Housing, and Urban Affairs that the United States is far from adopting or even recommending the introduction of a central bank digital currency (CBDC), emphasizing a…

The European Central Bank Is Either Lying About Bitcoin or Lying to Itself

[Feb 22, 2024 1:26 PM] ECB Director General Ulrich Bindseil and advisor Jürgen Schaaf are definitely against bitcoin, but their reasons don’t make a lot of sense.

Hong Kong's Central Bank Issues Guidance for Firms Offering Crypto Custodial Services

[Feb 20, 2024 9:09 AM] Hong Kong's central bank issued guidance for authorized institutions interested in providing custody services for digital assets.

Philippines to Develop Blockchainless Wholesale CBDC in Two Years

[Feb 14, 2024 2:00 AM] The Central Bank of the Philippines will develop a central bank digital currency (CBDC) in the next two years, according to Governor Eli Remolona Jr. The still unnamed CBDC will focus on the wholesale market and won’t use blockchain tech…

The Big Misunderstanding: What MiCA Really Means for Stablecoins in Europe

[Feb 6, 2024 12:32 PM] The EU's comprehensive crypto guidance does not introduce entirely new regulations for fiat backed stablecoins, former central banker Jón Egilsson writes. Instead it affirms existing rules that many current issuers are not yet following.

Nigeria Forex Crisis: Central Bank Removes Cap on Exchange Rate for International Money Transfer Operators

[Feb 4, 2024 3:30 AM] The Central Bank of Nigeria announced on Jan. 31 that it had removed caps on naira payout rates that international money transfer operators are allowed to quote. The central bank said the policy change is an effort aimed at further liberalizing the…

ECB Staff Unhappy With Christine Lagarde’s Leadership, Survey Shows

[Jan 26, 2024 9:30 PM] A survey of European Central Bank (ECB) staff has revealed widespread dissatisfaction with President Christine Lagarde’s leadership. More than half of the respondents rated Lagarde’s performance as “very poor” or…

Nigerian Central Bank Warns Counterfeiters as Residents Reportedly Grapple With Cash Shortages

[Dec 13, 2023 3:30 PM] As Nigeria grapples with cash shortages, the country’s central bank warned of the presence of counterfeit, higher-denomination naira banknotes. The bank has urged members of the public to report anyone suspected of falsifying or…

Taiwan central bank completes wholesale CBDC study, plans next steps

[Dec 8, 2023 12:45 PM] A central bank official spoke about ongoing CBDC research and other payment modernization Taiwan is exploring.

Bitcoin is up 170% since the ECB called its 'last gasp' at $16.4K

[Dec 6, 2023 3:20 AM] Bitcoin does the complete opposite of what the EU's central bank warned about in late 2022.

Italy and South Korea central banks agree on CBDC cooperation

[Dec 5, 2023 7:43 AM] The central banks of Italy and South Korea announced a memorandum of understanding in the development and deployment of their respective CBDCs.

Nigerian Supreme Court Extends Old Banknote Demonetization Deadline Again

[Dec 1, 2023 5:30 AM] The Supreme Court of Nigeria has again extended the lifespan of the N1000, N500, and N200 naira notes. The Central Bank of Nigeria (CBN) also reiterated that all banknotes, including the previously demonetized naira, remain legal tender “ad…

Fed’s ‘Beige Book’ Paints Dim Economic Picture, Experts Warn Central Banks ‘Have No Ability to Save Anything’

[Nov 30, 2023 2:00 PM] On Wednesday, following the market’s closure, major U.S. indices concluded the day unchanged, coming off a rise the previous day. This surge was influenced by the dovish remarks made on Tuesday by Federal Reserve Governor Christopher Waller…

Solomon Islands, Soramitsu team up for Bokolo Cash CBDC proof-of-concept

[Nov 30, 2023 12:36 PM] The Solomons join tiny island nations worldwide at the forefront of CBDC development. Soc A new CBDC joins the very large crowd.

BIS advises central banks to plan in advance for CBDC security

[Nov 29, 2023 12:30 PM] From legal issues to hackers, launching a CBDC is fraught with risks, and BIS has a big list of them to consider.

Nigeria’s NITDA advocates AI integration in payments for global recognition

[Nov 24, 2023 3:00 AM] NITDA chief Kashifu Inuwa Abdullahi said it’s crucial to take proactive measures to harness AI benefits and mitigate threats.

Singapore to restrict retail crypto speculation with new rules

[Nov 24, 2023 12:51 AM] According to MAS, speculative cryptocurrency trading is partly fueled by unverified success stories, celebrity endorsements and FOMO on good returns.

Fed Minutes Release May Be a Non-Event for Bitcoin

[Nov 21, 2023 4:32 AM] The minutes of the Nov. 1 Fed meeting may be outdated, given the post-meeting softness in economic data and resulting expectations for renewed interest-rate cuts in 2024.

‘Primitive’ stablecoin lacks mechanisms that maintain fiat stability: BIS

[Nov 17, 2023 4:02 PM] The answer again is regulation, although this time the suggested regulation looks a lot like central bank co-option.

Singapore introduces 5 new pilots to test asset tokenization

[Nov 15, 2023 4:14 AM] The latest initiatives by the Monetary Authority of Singapore aim to develop foundational capabilities to scale tokenized markets.

CBDCs Are 'Central' to Innovating Financial Systems, BIS Chief Says

[Nov 8, 2023 4:18 AM] Central banks will have a limited role to play relative to the private sector in CBDC issuance, the group's general manager Agustín Carstens said.

Swiss wholesale CBDC pilot kicks off in alliance with central, commercial banks

[Nov 2, 2023 4:13 AM] The Swiss wCBDC pilot project will be hosted on SDX and use the infrastructure of Swiss Interbank Clearing.

Hong Kong advances CBDC pilot, bringing e-HKD trials to Phase 2

[Oct 31, 2023 12:12 AM] e-HKD Phase 1 trial was dedicated to full-fledged payments, programmable payments, offline payments, tokenized deposits, settlement of Web3 transactions and settlement of tokenized assets.

People’s Bank of China Governor Vows to Curb Crypto Speculation

[Oct 23, 2023 1:30 AM] The new governor of China’s central bank has promised to stop speculation associated with cryptocurrency transactions in the country. Pan Gongsheng made the vow in a report detailing measures to maintain the stability of the Chinese financial…

Hong Kong Regulators Restrict Retail Investor Access to ‘Complex’ Crypto Products

[Oct 22, 2023 9:30 PM] The securities regulator and the central banking institution of Hong Kong have updated the region’s crypto policy in response to enquiries from the industry. In a circular on the virtual asset-related activities of intermediaries, the authorities…

Central banks want to look under crypto’s hood — Is this a positive sign?

[Oct 18, 2023 7:02 AM] The mere fact that the Deutsche Bundesbank, BIS and other financial incumbents want such information now suggests a tacit acceptance of crypto.

South Korean exchange Upbit gets initial license nod from Singapore

[Oct 15, 2023 6:46 PM] Upbit Singapore scored initial approval from the country’s central bank and financial regulator for a local crypto license.