1 / 2 Relevant items tagged with #LegalTender
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Zambia De-Dollarization: Central Bank Seeks to Enforce Kwacha as Sole Legal Tender for Domestic Transactions
[Jul 27 2:05 PM] The Bank of Zambia has defended its de-dollarization plans but also seeks input from stakeholders who oppose the proposal. The central bank governor clarified that they are not proposing anything new; instead, the bank aims to enforce existing laws…
South Africa Approves 63 Crypto Asset Service Provider License Applications
[Jul 4 5:20 AM] South Africa’s financial services industry regulator announced on July 2 that it had approved an additional 63 crypto asset service provider license applications. The Financial Sector Conduct Authority (FSCA) has received a total of 383…
Nigerian Central Bank Warns Financial Institutions Against Rejecting Old or Lower Denomination US Dollars
[Jul 3 2:31 PM] The Central Bank of Nigeria warned local financial institutions against rejecting older or lower-denomination U.S. dollar banknotes. The apex bank said it will take strong action against financial institutions that refuse to accept mutilated or…
Nigeria’s Anti-Graft Agency Announces Reward for Whistleblowers Exposing Local Currency Abusers
[Jun 5 9:36 PM] The Economic and Financial Crimes Commission (EFCC) in Nigeria has announced a 5% reward for whistleblowers who provide credible information leading to the prosecution of offenders involved in naira abuse. Dele Oyewale, the EFCC spokesman…
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…
German Parliament Member Wants To Make Bitcoin Legal Tender
[Nov 16, 2023 12:27 PM] A member of the German Bundestag (federal parliament), Joana Cotar, has expressed her support for making Bitcoin a legal tender in Germany, in an exclusive interview with Cointelegraph. Cotar told the publication that she wants to…
Nigerian Central Bank Dismisses Old Naira Banknote and Cash Shortage Rumors
[Nov 10, 2023 5:30 PM] The Nigerian central bank has dismissed rumors suggesting that the previously demonetized naira banknotes are no longer legal tender. According to the bank, all banknotes it has ever issued remain legal tender and “should not be rejected by…
El Salvador pro-Bitcoin president Nayib Bukele launches re-election bid
[Oct 29, 2023 8:36 PM] Despite Bukele’s popularity, some critics argue he isn’t eligible to be re-elected under El Salvador’s constitution.
Bitcoin-friendly El Salvador can become the 'Singapore of the Americas': VanEck advisor
[Oct 28, 2023 9:26 PM] VanEck strategy advisor Gabor Gurbacs expects a wave of new investment capital and immigration will push El Salvador’s economic growth in the coming years.
Argentinian presidential candidate wants CBDCs to 'solve' hyperinflation
[Oct 3, 2023 5:43 PM] Sergio Massa’s stance on central bank digital currencies appears to be in complete opposition to Javier Milei, a pro-Bitcoin candidate who wants to abolish Argentina’s central bank.
El Salvador’s Bitcoiners teach 12-year-olds how to send sats
[Aug 16, 2023 5:26 PM] Over 25,000 students in El Salvador have learned about Bitcoin in the classroom.
Kuwait Capital Markets Authority Reaffirms Comprehensive Crypto Asset Ban
[Jul 20, 2023 3:30 PM] In a circular released by the Capital Markets Authority of Kuwait, the regulator reaffirmed its position that Kuwait strictly prohibits the use of virtual currencies and bans mining activities within the Gulf state. The authority also emphasized…
Report: Namibian Parliament Passes Crypto Regulation Bill
[Jul 6, 2023 3:30 AM] The Namibian parliament recently passed a bill that aims to establish a regulatory regime for cryptocurrencies. According to the Namibian Finance Minister, safeguarding the interests of consumers and combating market abuse are some of the reasons…
Africa’s Crypto Market Grew by 1,200% Between 2020 and 2021 — Study
[Jul 1, 2023 2:30 AM] Between the years 2020 and 2021, Africa’s cryptocurrency market grew by more than 1,200% while Kenya, Nigeria, South Africa, and Tanzania now all feature in the global top 20 for crypto adoption, according to the latest Emurgo State of Web…
Tanzanian Central Bank Says Quoting Prices in Foreign Currency Against the Law
[Jun 23, 2023 4:30 PM] The Bank of Tanzania (BOT) has reiterated that shillings remain the East African country’s sole legal tender. The apex bank said residents quoting prices in foreign currency or those refusing payment in Tanzanian shillings are in violation of…
Follow The Trends: Bitcoin Is On The Path To Becoming The Money Of The Future
[Jun 6, 2023 6:00 AM] This is an opinion editorial by Didar Bekbauov, the founder and CEO of Bitcoin miner hosting company Xive.The financial industry as a whole is continually shifting toward the digital space, with the global digital payments market generating almost…
Russian State Duma Chairman: ‘US National Debt Is a Global Financial Pyramid’
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…
US Senators Reintroduce ‘Accountability for Cryptocurrency in El Salvador (ACES) Act’
U.S. Senators Introduce Bill Requiring Reports On El Salvador’s Bitcoin Adoption
[May 12, 2023 3:40 PM] A group of United States senators have introduced a bill requiring reports on the adoption of bitcoin as legal tender in El Salvador. The "Accountability for Cryptocurrency in El Salvador Act," introduced by Senator James Risch, Senator Bob…
The Fall Of Bitcoin In The Central African Republic: Why This Legal Tender Experiment Failed
[Apr 30, 2023 6:00 AM] Just a year after making bitcoin legal tender, the Central African Republic (CAR) abandoned its plans to revitalize its country. Why? This is an opinion editorial by Jonathan Buck, founder of JB & GS Mining GmbH, a German bitcoin mining hosting…
Arkansas Makes Gold, Silver Legal Tender; 23 States Involved in Similar Legislation to Establish US Dollar Alternatives
Reports Claim Chivo Bitcoin Wallet Is Flagging Wasabi Transactions in El Salvador
[Apr 7, 2023 3:00 PM] According to several reports, the Salvadoran government-issued bitcoin wallet, Chivo, has been freezing wallets and requesting that owners verify the source of funds. The founder of El Zonte’s Bitcoin Beach stated that the…
After Presidential Rebuke, Nigeria’s Central Bank Says Demonetized Naira Banknotes Still Legal Tender
[Mar 16, 2023 5:30 AM] The Nigerian central bank has said the recently demonetized ₦200, ₦500 and ₦1,000 banknotes will remain legal tender until Dec. 31, 2023. The central bank statement, which reaffirms a Supreme Court ruling that extended the lifespan of the…
Nigerian Banks Resume Dispensing Recently Demonetized Naira Banknotes
[Mar 11, 2023 3:30 AM] According to local reports, Nigerian financial institutions have begun abiding by a Supreme Court ruling that invalidated the Central Bank of Nigeria (CBN)’s demonetization of the 1,000, 500 and 100-naira banknotes. According to the court…
IMF prefers to regulate crypto than banning it outright: Report
[Feb 26, 2023 10:36 PM] On the sidelines of the G20 meeting in India, IMF managing director Kristalina Georgieva said the agency would prefer to regulate crypto than an outright ban.
IMF Report on El Salvador’s Bitcoin Adoption: Risks Averted, but Transparency Needed
[Feb 12, 2023 3:00 AM] According to a recent mission statement published by the International Monetary Fund (IMF), El Salvador has adopted bitcoin as legal tender and has avoided risks so far. The IMF states that the risks have not materialized due to the limited use of…
State senator pushes bill to make Bitcoin legal tender in Arizona
[Jan 27, 2023 3:23 AM] The state senator also introduced a similar bill to make Bitcoin legal tender in 2022 but did not succeed.
Arizona Senator Launches Bill to Make Bitcoin Legal Tender
[Jan 26, 2023 7:30 PM] A senator in the U.S. state of Arizona has introduced a set of cryptocurrency bills, one of which seeks to make bitcoin legal tender. “Centralized digital money controlled by the central bankers is slavery. Decentralized bitcoin is…