Nigeria’s central bank partners with fintech firm Bitt Inc for CBDC rollout
The CBN considered Bitt Inc’s experience in the development of the Eastern Caribbean Central Bank’s DCash, launched in April. Go to Source Powered by WPeMatico
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Nigeria’s central bank issues draft guidelines on eNaira CBDC project
CBN says the proposed central bank digital currency will offer parity of value and will operate as a non-interest-bearing CBDC. Go to Source Powered by WPeMatico
Nigerian Foreign Exchange Crisis: Central Bank Issues Warning to Microfinance Banks
The Central Bank of Nigeria (CBN) has threatened punitive sanctions against microfinance banks that violate the conditions of their operating license through the performance of foreign currency-related transactions. In its latest circular, the CBN claims that microfinance banks have a very low capitalization hence their handling of such transactions threatens the stability of the financial … Read more
Thailand’s central bank outlines safeguards for a future retail CBDC
The results of a new study from the Bank of Thailand point to three key considerations for making sure a retail central bank digital currency doesn’t adversely impact financial stability. Go to Source Powered by WPeMatico
Draft El Salvador Bitcoin banking regulations released
El Salvador’s Banco Central de Reserva has released two documents detailing how banks should deal with Bitcoin. Go to Source Powered by WPeMatico
Dutch central bank claims Binance is operating illegally
The warning follows authorities in several countries issuing statements warning investors to exercise caution in regards to Binance, or claiming the exchange was operating illegally. Go to Source Powered by WPeMatico
Ghana’s digital cedi must emulate cryptocurrencies, Afroblock states
Afroblocks co-founder urges Ghana’s central bank to involve the in-house crypto experience and expertise to help e-cedi succeed. Go to Source Powered by WPeMatico
Central Bank of Iran Should Regulate Cryptocurrencies, Securities Watchdog Says
With bitcoin mining being a regulated activity in Iran, the head of the country’s securities and exchange regulator believes the central bank has to turn its attention to cryptocurrencies. The regulator is ready to consider accommodating crypto trade when digital assets are regulated. Capital Market Regulator to Look Into Crypto Trading if Central Bank Regulates … Read more
US Inflation Continues to Rise Amid Lockdown Talk, Producer Prices Jump 7.8%, Biden Blames OPEC
The United States is facing severe inflation despite the Federal Reserve and mainstream media doubling down on saying the loss of purchasing power is just “transitory.” This week consumer and producer metrics from July have been published by the U.S. Bureau of Labor Statistics and inflation is growing stronger. July CPI Stats Show a Jump … Read more
Satoshi Versus the ‘Infrastructure Bill’ — Political Permission Not Required
When Satoshi Nakamoto released the Bitcoin white paper in October 2008, it likely wasn’t with the idea that governments and central banks needed to recognize, adopt, and regulate Bitcoin for everyone’s benefit. To the contrary, if anything can be taken away from that document and the message encoded in the genesis block, it’s that centralized … Read more