Davos 2023: Banking Panel Reinforces the Need for Crypto Regulation

wef 2023 davos banking crypto regulationA group of global banking experts hosted by the World Economic Forum (WEF) convened about the need for global crypto regulation, including stablecoins and unbacked crypto assets. The panel agreed there must be at least some kind of base regulation for these assets and bank-equivalent regulation for blockchain applications seeking to offer products similar to […]

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Bank of France Governor Calls for Mandatory Licensing for Crypto Companies

Bank of France Governor Calls for Mandatory Licensing for Crypto CompaniesFrance has to adopt a licensing regime for crypto service providers, the head of the country’s central bank has suggested. According to the executive, the need to tighten regulatory oversight stems from the “disorder” in the industry throughout the past year. Licensing Should Replace Registration for Crypto Firms in France, Governor Galhau Says Banque de […]

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Central Banks of France, Switzerland and BIS Complete Cross-Border CBDC Trial

Central Banks of France, Switzerland and BIS Complete Cross-Border CBDC TrialBank of France, the Swiss National Bank (SNB), and the Bank for International Settlements have successfully tested the application of wholesale central bank digital currency in cross-border payments. The project used distributed ledger technology and was realized with help from private firms. France and Switzerland Explore Direct Transfer of Euro, Swiss Franc Wholesale Digital Currencies […]

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Australia, Singapore, Malaysia, and South Africa to Trial Cross-Border Digital Currency Payments

Australia, Singapore, Malaysia, and South Africa to Trial Cross-Border Digital Currency PaymentsThe central banks of Australia, Singapore, Malaysia, and the Republic of South Africa have set out to test the use of state-issued digital currencies in cross-border payments. The trial, led by the Bank for International Settlements, aims to establish whether they can simplify transactions and make them cheaper. Reserve Bank of Australia Teams Up With […]

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Bank of France, Swiss Crypto Bank Test Securities Settlement Using CBDC

Bank of France, Swiss Crypto Bank Test Securities Settlement Using CBDCThe Bank of France has successfully completed an experiment involving the use of CBDC to settle listed securities. The test has been carried out with the help of an alliance of partners led by SEBA Bank, a digital asset banking provider based in the Swiss crypto valley. Central Bank and Crypto Company Conduct Successful CBDC […]

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Swiss, French Central Banks to Trial Wholesale CBDC Settlements With BIS and Private Sector

Swiss, French Central Banks to Trial CBDC Settlements With BIS and Private SectorThe central banks of Switzerland and France are joining hands with the Bank for International Settlements to test wholesale central bank digital currencies in cross-border transactions. The experiment will be conducted with the help of a private sector consortium led by Accenture. European Central Banks to Collaborate on CBDC Project The Swiss National Bank (SNB), […]

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French Lawmaker Signs Petition to Allow Central Bank to Buy and Hold Bitcoin

French Lawmaker Signs Petition to Allow Central Bank to Buy and Hold BitcoinA French parliament member has signed a petition to amend the laws to enable the central bank of France to buy and hold bitcoin as well as other cryptocurrencies. The petition urges lawmakers to urgently consider the matter, warning that not owning bitcoin will put France “in a financially weak position within 5-10 years.” Petition […]

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