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The UK capital’s governing body is partnering with the Digital Pound Association and other trade groups to promote good crypto policy and practice and the UK’s position as a global financial center. Go to Source Powered by WPeMatico
The Central Bank of Russia has detailed two methods for implementing the digital ruble and other state-backed coins in international settlements. The monetary authority also plans to start testing consumer-to-business (C2B) operations in the first quarter of the year. Russia’s Central Bank to Propose Platforms for Digital Currency Payments in Foreign Trade Moving forward with … Read more
MP Andrew Griffith and colleagues spoke before a hearing of the U.K. parliamentary Treasury Committee about payments technology and CBDC. Go to Source Powered by WPeMatico
The country’s central bank will begin studying two possible cross-border CBDC settlement models this quarter. Go to Source Powered by WPeMatico
From the start of March, Nigerian public officials will be barred from withdrawing cash from government bank accounts, the head of the Nigerian Financial Intelligence Unit reportedly said. Public officials that want to be exempted from this new regulation will have to obtain a waiver from the Nigerian Presidency. Government Workers Vulnerable to Money Laundering … Read more
Mexico’s central bank is currently working on legal, administrative, and technological requirements for the peso’s digital version. Go to Source Powered by WPeMatico
The Mexican central bank digital currency (CBDC), the digital peso, is unlikely to be ready by 2024, as was announced back in 2021 by the Mexican government. In a statement, representatives from Banxico, the central bank of Mexico, stated the development of the currency was still in its initial stages, and there is still no … Read more
Fabio Panetta, part of the Executive Committee of the European Central Bank (ECB), believes that unbacked cryptocurrency assets are vehicles for gambling without intrinsic value, which need to be regulated. In an opinion piece, Panetta states that while cryptocurrency regulation is a good answer to the problem, it must also touch on decentralized finance structures. … Read more
ECB board member Fabio Panetta has woven his enthusiasm for blockchain technology and skepticism of cryptocurrency into an argument that supports both, albeit begrudgingly. Go to Source Powered by WPeMatico
A Hong Kong official believes that a government-backed stablecoin would serve as a better entry point to Web3 compared to private stablecoins. Go to Source Powered by WPeMatico