global financial system – DIGIT INFO

Treasury Secretary Yellen Says US Government Will Take ‘Any Steps Necessary’ to Preserve Its Financial Dominance

DIGIT — Sat, 22 Apr 2023 10:49:56 +0000

According to U.S. Treasury Secretary Janet Yellen, the United States government is prepared to take the steps necessary to ensure its financial system remains the world’s strongest and safest. Yellen said that the U.S. government will not hesitate to punish Chinese companies that violate its Russian sanctions policy. U.S. Ready to Shore up Its Financial […]

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UBS Considers Acquiring Credit Suisse, Requests Government Backstop in Deal

DIGIT — Sun, 19 Mar 2023 00:35:04 +0000

After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to protect against any losses if it purchases Credit Suisse. According to unnamed sources familiar with the […]

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Americans ‘frustrated’ by financial system inequality, 20% own crypto: Survey

DIGIT — Tue, 28 Feb 2023 01:57:57 +0000

Crypto ownership among U.S. adults has remained steady over the last 12 months, with a large portion seemingly “frustrated” by the one-sided global financial system.

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Casting Stones From a Glass House: Yellen’s Comments on Zambia’s Debt Restructuring Draw Criticism From Chinese Embassy

DIGIT — Tue, 24 Jan 2023 22:30:37 +0000

The Chinese embassy in Zambia denounced the United States over its debt limit and the “extraordinary measures” Treasury secretary Janet Yellen has implemented to stave off a U.S. debt default. Yellen said on Monday that it was very important that Zambia restructure its debt, but Zambia sees it differently. The embassy castigated Yellen’s comments in […]

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White House Releases ‘First-Ever’ Framework for Digital Asset Development — Crypto Industry Leader Says Recommendations Are Unclear

DIGIT — Sat, 17 Sep 2022 09:30:36 +0000

The White House has now released what it called its “first-ever” comprehensive framework for the responsible development of digital assets just over six months after U.S. President Joe Biden signed an executive order on the same matter. However, one crypto industry leader has lamented the lack of clarity and understanding of the technology in the […]

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Central Africa Republic’s Bitcoin Adoption: The Real Work Must Start Now

DIGIT — Mon, 23 May 2022 08:00:55 +0000

The Central Africa Republic (CAR)’s surprise bitcoin adoption decision once again shows that the top cryptocurrency can be an alternative to fiat currency. However, the African country still needs to invest heavily in its telecommunications infrastructure. The CAR also needs to prioritize education that helps the population to familiarize itself with cryptocurrency basics. The CAR’s ... Read more

Regulatory Arm of UAE Financial Centre Releases Defi Discussion Paper

DIGIT — Fri, 15 Apr 2022 04:19:41 +0000

The regulatory arm of UAE’s financial centre, Abu Dhabi Global Market (ADGM), has released a discussion paper that is seeking stakeholders’ comments regarding the regulation of decentralized finance (defi). The paper also makes clear the regulator’s stance regarding the anonymity of defi transactions. Paper Not Guidance for Financial Institutions The FSRA, a regulatory arm of […]

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Poland’s Central Bank Says It Will Add 100 Tons of Gold to Existing Holdings in 2022

DIGIT — Mon, 11 Oct 2021 12:19:40 +0000

The Polish central bank, the National Bank of Poland (NBP), is reportedly planning to raise its gold reserves by 100 tons in 2022. According to bank governor Adam Glapinski, the objective of this decision is to prepare Poland for “the most unfavourable circumstances.” Gold’s Safe Haven Status In his remarks during an interview with the […]

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