Nigerian banks tracking customer accounts for crypto trading
Personal accounts with large multi-day inflow and outflow are being tracked per an order by the country’s central bank. Go to Source Powered by WPeMatico
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Digital Ruble to Give Russians What They Need, Bank of Russia Governor Says
The digital ruble is what Russian citizens need as it will facilitate inexpensive and reliable payments, the head of Bank of Russia, Elvira Nabiullina, told participants in an international banking forum. The governor also warned that cryptocurrencies and fiat-backed stablecoins create risks for financial stability. CBR’s Nabiullina Praises Digital Ruble Concept, Rejects Cryptocurrencies The Central … Read more
Russian Officials Back Idea of Recognizing Crypto Miners as Entrepreneurs
Cryptocurrency mining should be recognized as an entrepreneurial activity under Russian law and taxed accordingly, representatives of key ministries in Moscow and the parliament have indicated. Officials believe the regulatory move would benefit both the state and the crypto industry. Russian Government to Collect Millions of Dollars in Taxes After Legalizing Crypto Mining While the … Read more
Zimbabwe minister signals CBDC interest amid Bitcoin adoption rumors
Minister Monica Mutsvangwa clarified that Zimbabwe is not considering the adoption of cryptocurrencies or Bitcoin. Go to Source Powered by WPeMatico
Russia to change laws for digital ruble while central bank mulls 2022 prototype
Russian lawmakers will reportedly begin working on the legal adjustments needed to implement the digital ruble plan scheduled for early 2022. Go to Source Powered by WPeMatico
Retail-focused Singaporean CBDC to hedge against privately issued stablecoins
The retail CBDC will be developed in partnership with private entities, which “would be the digital equivalent of today’s notes and coins.” Go to Source Powered by WPeMatico
Nigeria’s central bank reportedly freezes crypto traders’ accounts
In February, the CBN banned banks from servicing crypto exchanges in the country, citing concerns including volatility, money laundering, and the financing of terrorism. Go to Source Powered by WPeMatico
Russia to Change 13 Laws and Codes for Digital Ruble
Authorities in Russia are gearing up to amend various pieces of legislation to facilitate the issuing and function of the digital ruble. Officials in Moscow believe this version of the national fiat needs to be regulated separately from other digital forms of money such as cryptocurrencies. Russia Prepares to Trial Digital Ruble, Officials Say CBDC … Read more
Digital Euro Should Be Attractive But Not ‘Too Successful,’ ECB’s Panetta Says
The digital euro should be an attractive means of payment but its design should prevent it from becoming so successful as a store of value that it threatens banks and private money, according to Fabio Panetta, a high-ranking executive at the European Central Bank. Panetta stressed that both this paradox as well as the need … Read more
China’s Digital Currency Used in Transactions Worth $10 Billion, 140 Million People Have Digital Yuan Wallets
China’s central bank digital currency (CBDC), the digital yuan, has been used in transactions worth nearly $10 billion, according to an official with the Chinese central bank, the People’s Bank of China (PBOC). In addition, the government digital wallet has been downloaded by about 140 million people. Digital Yuan’s Adoption Rises, Nearly $10 Billion Transacted … Read more