Money 20/20: Singapore Central Bank Confirms International Blockchain Payment Plans
Central bank confirms Singapore’s Blockchain payment plans. #NEWS Go to Source Powered by WPeMatico
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World’s Central Bank: Crypto Could Risk Bank Runs
How many central banks are actually considering their own version of cryptocurrency is unclear, Russia and Venezuela being the most infamous examples. To perhaps ward off serious consideration from more established economies, the Bank for International Settlements (BIS), the world’s central bank to central bankers, is suggesting state-backed crypto might destabilize commercial banks’ customer deposits, … Read more
Bitcoin ‘Not The Answer To Cashless Economy’ Says European Banks’ Top Brass
Neither centralized nor decentralized cryptocurrencies are likely to facilitate a cashless economy, according to new ECB comments. #NEWS Go to Source Powered by WPeMatico
Bank For International Settlements Distances Itself From Centralized Digital Currencies
Joint European banking report wary of digital currencies issued by banks. #NEWS Go to Source Powered by WPeMatico
Malaysia’s Central Bank Rebukes ICO For Unauthorized Use Of Its Logo
Malaysian central bank rebukes ICO issuer for unauthorized logo use, company responds that no harm intended, wants to better the Malaysian economy. #NEWS Go to Source Powered by WPeMatico
China’s PBOC Governor Speaks Against Speculative Cryptocurrencies
This week the People’s Bank of China (PBOC) governor, Zhou Xiaochuan, spoke about both public and privately issued cryptocurrencies. Zhou details that the central bank dislikes “speculative cryptocurrency products” and the bank does not officially recognize digital currencies like bitcoin. Further Zhou explains the bank is monitoring projects like bitcoin and initial coin offerings (ICO), … Read more
Thailand Dodges Extreme Cryptocurrency Regulations
The Thai Deputy Prime Minister has mandated that the law on cryptocurrencies and initial coin offerings be finalized within a month. The regulators have met and agreed that there is no need to invoke the country’s controversial Section 44 law but to introduce a “special law” for them instead. Also read: Japan’s DMM Bitcoin Exchange Opens … Read more
Ex-Trump Chief Strategist Bannon: Cryptocurrencies Make Central Banks Redundant
Bitcoin has always been considered by its staunch supporters a tool to bring about personal financial freedom from government control and censorship as well as taxation via inflation. As such, most political players shun the cryptocurrency when they are in power as it threatens their position. Once out of power they are freer to appreciate … Read more
Venezuela Picks FX Platform to Auction Petro ‘Oil-Backed Cryptocurrency’
Venezuela has chosen a platform on which to auction its “oil-backed cryptocurrency”, the petro. While the country’s National Assembly has repeatedly declared this new currency illegal, the Venezuelan government will proceed with the auction of the petro on the country’s official foreign exchange platform. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies … Read more
Russia Drafts Law to Criminalize the Use of Cryptocurrencies as Money
The Russian Ministry of Finance is drafting a law to criminalize the use of cryptocurrencies as money substitutes. The Bank of Russia and the finance ministry have previously opposed the use of cryptocurrency in this way, citing that only rubles can be used for payments of goods and services in Russia. Also read: Indians Look to … Read more