What is really behind El Salvador’s ‘Bitcoin Law’? Experts answer
Here’s what crypto and blockchain experts think about Salvadoran President Nayib Bukele’s announcement that Bitcoin is now legal tender. Go to Source Powered by WPeMatico
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Singapore’s central bank offers cash prizes for digital currency ideas
The Monetary Authority of Singapore is seeking new retail CBDC solutions with a new global challenge offering cash prizes and expert digital currency mentorship. Go to Source Powered by WPeMatico
World Bank refuses El Salvador’s request for help on BTC transition
The World Bank has refused to support El Salvador’s request for help in the transition to use Bitcoin as legal tender. Go to Source Powered by WPeMatico
Lebanese Economy Crashes to New Lows – In Less Than Two Years Nation’s Currency Lost 90% Against the US Dollar
The Lebanese pound dropped to a new low on Sunday against the greenback trading in the low 1,500s range to the U.S. dollar. Lebanon’s currency has been in a downward spiral since 2019, as the pound has lost 90% of its value since then. Reports note that Lebanese citizens are facing shortfalls on basic goods … Read more
El Salvador’s Bitcoin adoption may jeopardize IMF negotiations: JPMorgan
JP Morgan says that El Salvador’s decision to adopt Bitcoin as legal tender is of little economic benefit. Go to Source Powered by WPeMatico
El Salvador’s Bitcoin adoption an ‘interesting experiment,’ says BIS exec
El Salvador’s move to make Bitcoin legal tender in the country continues to elicit reactions from legacy finance gatekeepers, this time from the Bank for International Settlements. Go to Source Powered by WPeMatico
IMF Voices Concerns Over El Salvador Making Bitcoin Legal Tender
The International Monetary Fund (IMF) has warned of “a number of macroeconomic, financial and legal issues” surrounding El Salvador making bitcoin legal tender. “Crypto assets can pose significant risks and effective regulatory measures are very important when dealing with them,” an IMF spokesperson cautioned. IMF Sees Issues With Bitcoin Being Legal Tender in El Salvador … Read more
IMF plans to meet with El Salvador’s president, potentially discussing move to adopt Bitcoin
The International Monetary Fund has previously spoken out against smaller nations like the Marshall Islands recognizing a digital currency as legal tender. Go to Source Powered by WPeMatico
Nigeria’s Naira Loses Ground on Forex Black Market Just a Few Days After Devaluation
The Nigerian naira currency lost further ground against major currencies after it depreciated to 493 nairas for one dollar on the black market on May 25, 2021. Before the latest depreciation, the currency had stabilized at around 485 nairas to the dollar. This was shortly after the exchange rate dropped to a three and a … Read more
‘Chinese Invented Paper Money and They Will End It’- Brazil’s Far-Left Praises Digital Yuan
Digital currencies, those issued by central banks in particular, have been commended for their “disruptive nature.” The praise comes from a publication associated with one of Brazil’s far-left parties. A recently published article claims that CBDCs such as China’s digital yuan can radically change global finances and government policies. Digital Yuan to Do Away With … Read more