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Kalashnikov Group, the Russian firearms manufacturer, is ready to transition to settlements in digital currency. The announcement came from the international economic forum in Saint Petersburg where the central bank of Russia reaffirmed its intention to replace “dirty” and “infectious” paper cash with the digital ruble that’s currently under development. Russia’s Kalashnikov Concern Looks Forward … Read more
Ghana is striving to become the first African nation to float a central bank digital currency. Go to Source Powered by WPeMatico
The Reserve Bank of India’s ban on banks’ dealings with crypto may be defunct but the institution remains apprehensive of — if not outright hostile to — cryptocurrencies. Go to Source Powered by WPeMatico
The governor of Ghana’s central bank, Ernest Addison, has said his institution is now “in the advanced stages of introducing a digital currency.” However, before its release into circulation, the digital currency—which is also known as the “e-cedi”— will first have to go “through three phases.” Bank of Ghana’s Embrace of Emerging Fintechs In his … Read more
The digitization of traditional currencies like the euro has the potential to increase their international appeal, the European Central Bank says in a new report. A failure to offer a digital currency would endanger financial stability, ECB warns. The regulator is concerned about the prospect of tech giants dominating payments through their “artificial currencies.” Eurozone’s … Read more
Russia has officially legalized crypto trading this January but the government still doesn’t allow local banks to offer crypto services. Go to Source Powered by WPeMatico
China’s central bank digital currency (CBDC) continues to gain further ground as the Beijing Local Financial Supervision and Administration Bureau revealed 40 million worth of the country’s digital yuan ($6.3 million) will be distributed to Chinese citizens. Beijing and China’s Central Bank Launches Digital Yuan Lottery The People’s Bank of China (PBoC) and Beijing Local … Read more
Beijing residents should apply to participate in the lottery until midnight on June 7. Go to Source Powered by WPeMatico
Riksbank Governor Stefan Ingves says there’s “good reason to believe” that more regulatory oversight of cryptocurrencies is in the pipeline. Go to Source Powered by WPeMatico
U.S. banking corporation BNY Mellon is gearing up to offer crypto custody services out of Dublin where it has just established a digital hub. The news coincided with a stark warning issued by a top central bank official in Ireland who said people should only buy bitcoin if they’re prepared to lose money. BNY Mellon … Read more