means of payment – DIGIT INFO

CBDC Could Be ‘Holy Grail’ of Cross-Border Payments, ECB Says, Sees Bitcoin as Less Credible

DIGIT — Thu, 04 Aug 2022 07:00:34 +0000

Several solutions can potentially improve cross-border payments significantly and central bank digital currency (CBDC) could be the “holy grail,” according to the European Central Bank (ECB). In a new report, the eurozone’s monetary authority also claims stablecoins, among other options, are “problematic.” ‘Holy Grail’ of Cross-Border Payments in Reach Through CBDC, European Central Bank Insists […]

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Bank Indonesia Prepares to Issue Digital Rupiah as Legal Tender for Digital Payments

DIGIT — Sat, 23 Jul 2022 04:30:03 +0000

The central bank of Indonesia is working to issue a wholesale digital rupiah. The new currency is meant to be the only legal tender for digital transactions in the country while the regulator also wants to ensure that it will be exchangeable across borders. Digital Rupiah Concept Expected by Year End Indonesia’s monetary authority is […]

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Putin Signs Law Prohibiting Payments With Digital Assets in Russia

DIGIT — Fri, 15 Jul 2022 14:00:33 +0000

President Vladimir Putin of Russia has signed into law a bill banning payments with digital financial assets. The legislation obliges exchange operators to refuse to process transactions facilitating the use of DFAs, a legal category currently covering cryptocurrencies, as “monetary surrogates.” President Putin Approves Legislation Banning Digital Asset Payments in Russian Federation Russian President Vladimir […]

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Bill Presented in Brazil Seeks to Include Crypto as Approved Means of Payment

DIGIT — Fri, 17 Jun 2022 14:00:23 +0000

A new bill presented in Brazil is trying to introduce bitcoin and other cryptocurrencies as an approved means of payment in the country. The bill, presented by Federal Deputy Paulo Martins, proposes to amend already existing regulations to include several dispositions that would allow cryptocurrency payments and investments to be officially supported. New Bill Proposes […]

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Bank of Kyrgyzstan Issues Warning About Cryptocurrencies, Crypto Payments

DIGIT — Thu, 16 Jun 2022 07:00:47 +0000

Amid the growing popularity of cryptocurrencies in Kyrgyzstan, the country’s central bank has reminded citizens about the risks associated with the digital assets. The monetary authority also warned that crypto payments are illegal in the Kyrgyz Republic. National Bank of Kyrgyzstan Urges Caution With Cryptocurrency Cryptocurrencies and other virtual assets are increasingly spreading in Kyrgyzstan, […]

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Bank of America: 90% of US Adults Surveyed Plan to Buy Crypto in 6 Months

DIGIT — Wed, 15 Jun 2022 01:30:11 +0000

A new Bank of America survey shows that out of more than 1,000 U.S. adults, 90% plan to buy crypto in the next six months. Moreover, nearly 40% of respondents revealed that they use cryptocurrency as a means of payment. Bank of America’s Crypto Survey Bank of America (BOA) analyst Jason Kupferberg shared his crypto […]

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Russian Court Recognizes Cryptocurrency as Means of Payment, Prosecutors See Precedent

DIGIT — Tue, 24 May 2022 17:30:55 +0000

The City Court of St. Petersburg has recognized a large amount of cryptocurrency handed over by the victim in an extortion case as a means of payment, Russian media reported. The prosecutor’s office in Russia’s second-largest city describes the ruling as a precedent. Two Men Sentenced for Cryptocurrency Extortion in Russia Two Russian citizens have […]

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Russian Regulators Find Common Ground — Bitcoin Can’t Be Used for Payments

DIGIT — Sun, 13 Feb 2022 13:30:18 +0000

Russian authorities are yet to reach full consensus on the future of cryptocurrencies but government institutions are on the same side of the fence in their intention to ban bitcoin payments. Other operations with digital assets are to be legalized and regulated, representatives of Russian business have revealed. Russian Central Bank, Finance Ministry Agree to […]

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Thailand Announces Cryptocurrency Will Be Regulated as Means of Payment

DIGIT — Wed, 26 Jan 2022 14:30:09 +0000

Thailand has announced that cryptocurrency will be regulated as a means of payment for goods and services “to avert potential impacts on the country’s financial stability and economic system.” The announcement was issued by the Bank of Thailand, the Thai Securities and Exchange Commission, and the Ministry of Finance. Cryptocurrency Will Be a Means of […]

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Russian Parliament Sets Up Working Group on Cryptocurrency Regulations

DIGIT — Fri, 26 Nov 2021 13:00:43 +0000

A working group on cryptocurrencies and related activities will soon begin to meet at the State Duma, the lower house of Russian parliament. Its members are expected to take on the task of clarifying various regulatory aspects related to digital financial assets such as the legalization of mining and the introduction of taxation. Working Group […]

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