Jamaica’s central bank digital currency and the problems it hopes to solve
Jamaica’s new central bank digital currency, slated for launch early this year, aims to help address economic issues on the island nation. Go to Source Powered by WPeMatico
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Crypto trading in rubles falls even as ECB warns again on sanctions
A statement from ECB President Christine Lagarde labeling cryptocurrency a “threat” to global security seems at odds with the real world data and expert opinion. Go to Source Powered by WPeMatico
Bitcoin is ‘not regulated’ — Honduras’ central bank pushes back against legal tender rumors
The central bank said “for the time being” Bitcoin was not regulated in the country, but it was exploring the feasibility of introducing a CBDC. Go to Source Powered by WPeMatico
Thailand Adopts Rules Restricting Cryptocurrency Payments From April
Regulators in Thailand have decided to limit the use of cryptocurrencies as a means of payment. The authorities consider the country’s current payment system efficient and insist cryptos would only bring risks for the financial system, economy, people and businesses. Thailand SEC Issues Regulations Limiting Use of Digital Assets for Payments Financial regulators in Thailand … Read more
Ireland’s central bank follows UK’s example in warning of crypto advertisements
The central bank warned people to be mindful of “the risks of misleading advertisements, particularly on social media, where influencers are being paid to advertise crypto assets.” Go to Source Powered by WPeMatico
BIS joint pilot: Institutions can use CBDCs for international settlements
The experimental CBDC platform proved that the design approaches used to address three major issues: access, jurisdictional boundaries, and governance were effective. Go to Source Powered by WPeMatico
Idea to Use Digital Ruble as Reserve Currency Circulated in Sanctioned Russia
A call to make the digital ruble a reserve currency has been issued in the State Duma, the lower house of Russia’s parliament. Meanwhile, concerns have been raised in the West that the new incarnation of the Russian fiat may be employed to evade sanctions that have been isolating the country. Digital Ruble to Serve … Read more
Russian Banks Told to Track Crypto-Related Transactions Amid Currency Restrictions
Bank of Russia has recommended commercial banks pay heightened attention to their clients’ transactions related to cryptocurrencies. The regulator requires the financial institutions to monitor such activity against the backdrop of restrictions on currency operations amid western sanctions. Monetary Authority Urges Banks to Control Spending Linked to Crypto Assets The Central Bank of Russia (CBR) … Read more
Ukraine’s Largest Bank Suspends Money Transfers to Crypto Exchanges
Privatbank, the largest commercial bank in Ukraine, has temporarily halted transfers in national currency to digital asset exchanges. The financial institution explained the move with restrictions imposed by the country’s central bank under the current martial law. Leading Bank in Ukraine Bans Clients From Sending Hryvnia to Crypto Trading Platforms Ukraine’s largest bank in terms … Read more
Bank of Russia Allows Sberbank to Issue Digital Financial Assets
Sberbank, Russia’s largest bank, has been authorized by the country’s monetary policy regulator to issue digital financial assets. The move comes amid tightening Western sanctions over the war in Ukraine, including limiting Moscow’s access to the global financial market. Sberbank Added to Central Bank’s Register of Crypto Asset Issuers The Central Bank of Russia (CBR) … Read more