Digital Currency

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Russia’s Prosecutor General Wants Cryptocurrency Recognized as Property Under Criminal Law

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The Prosecutor General’s Office of Russia has proposed to define cryptocurrency as property in the country’s Criminal Code. Decentralized digital money has already been qualified as such in the provisions of several other laws although various aspects of cryptocurrencies remain unregulated. Prosecutors in Russia Draft Legislation Granting Cryptocurrency Property Status The Prosecutor General’s Office of … Read more

Nearly 500,000 Nigerian CBDC Wallets Downloaded Since Launch

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Nearly half a million e-naira wallets have been downloaded a few weeks after the central bank digital currency (CBDC) was officially launched by Nigerian President Muhammadu Buhari, the central bank has said. E-Naira’s Initial Trade Volumes In addition to the 488,000 wallets that have been downloaded, Osita Nwanisobi, who is the Central Bank of Nigeria … Read more

Kyrgyzstan Shuts Down Cryptocurrency Farm With 2,500 Mining Rigs

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Authorities in Kyrgyzstan have uncovered and shut down a large crypto mining farm in the north of the country. Law enforcement officials claim the illegal coin minting facility has inflicted “colossal damage” to the nation’s power grid and that they are still trying to estimate the losses. Underground Crypto Farm Busted in Kyrgyzstan The region … Read more

Digital Ruble Should Not Boost Inflation, Bank of Russia Says

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Bank of Russia is preparing for a prolonged trial of the digital version of the national fiat to ensure this is a “full-fledged ruble,” the head of the monetary authority has emphasized. The regulator has put forward some conditions for the implementation of the new currency project. Bank of Russia Sets Conditions for Digital Ruble … Read more

Zanzibar Government Keen to Get Stakeholders’ View on Cryptocurrencies

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Zanzibar is keen on getting stakeholders’ views on the viability of adopting digital currencies before a final decision is made, a government minister has said. The Importance of Getting the Views of Stakeholders In his remarks during an interview with The Citizen, Mudrick Soraga, who is the Minister of State, revealed his government is planning … Read more

Analysts: Lack of Trust in Nigerian Government an Impediment to CBDC’s Success Prospects

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While Nigerians have seemingly embraced the Central Bank of Nigeria (CBN)’s digital currency, skeptical analysts believe a lack of trust in the government will ultimately limit the e-naira’s prospects for success. Threat From Fintech Startups In addition, some analysts insist the digital currency’s already tenuous position is made worse by the fact that it has … Read more

Digital Ruble to Give Russians What They Need, Bank of Russia Governor Says

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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

Nigerian Central Bank Intensifying Fight Against Cryptocurrency Traders

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Just a few days after launching the e-naira digital currency, the Central Bank of Nigeria (CBN) is now reportedly ramping up the pressure against cryptocurrency traders. Bank Employees Warned In a memo to its staff seen by Bitcoin.com News, one of Nigeria’s leading banks, FCMB, warns its employees against aiding cryptocurrency traders. The bank reveals … Read more