State-backed digital currencies can disrupt financial systems: Report
While CBDCs could help central banks address the decline in cash payments, some risk factors remain. Go to Source Powered by WPeMatico
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Banking system consumes two times more energy than Bitcoin: research
According to Galaxy’s estimates, the annual energy usage of Bitcoin stands at 114 TWh, while the banking industry consumes over 260 TWh each year. Go to Source Powered by WPeMatico
UK will likely need to issue a digital currency, says BoE deputy governor
The Bank of England’s deputy governor has argued that, with the possible rise of non-bank actors issuing currency, public money in digital form could serve as a crucial anchor for confidence in money as a social convention. Go to Source Powered by WPeMatico
European Investment Bank reportedly to issue bonds with blockchain tech
The EIB has reportedly hired banks like Goldman Sachs and Societe Generale to explore a digital bond, registered and settled via blockchain. Go to Source Powered by WPeMatico
CEO of biggest crypto exchange has ‘close to 100%’ of net worth in crypto
Binance founder and CEO Changpeng Zhao is placing his bets on crypto. Go to Source Powered by WPeMatico
Digital euro could take four years, says ECB president Christine Lagarde
The ECB will decide whether to proceed with digital euro pilots by mid-2021, Lagarde said. Go to Source Powered by WPeMatico
Tether stablecoin is fully backed, says new assurance report
Tether’s reserves for its USDT stablecoin exceed the amount required to redeem the digital asset tokens, according to auditing firm Moore Cayman. Go to Source Powered by WPeMatico
Digital ruble is ‘highest form of money’, Russian Bitcoin critic says
The digital ruble will become an integral part of national settlements by 2023 or 2024, Anatoly Aksakov of the Russian State Duma predicted. Go to Source Powered by WPeMatico
Stablecoin reserves on crypto exchanges hit new historic high of $10B
Cryptocurrency exchanges continue accumulating massive amounts of stablecoins like Tether and USDC Coin. Go to Source Powered by WPeMatico
China’s digital yuan will offer best privacy protection, says official
The People’s Bank of China intends to enable anonymous digital yuan transactions of small amounts in order to protect “reasonable” anonymity needs. Go to Source Powered by WPeMatico
