Official – DIGIT INFO

China’s Digital Yuan Little Used, Former Central Bank Official Says

DIGIT — Sat, 31 Dec 2022 14:30:16 +0000

Trials of the digital yuan have produced disappointing results, according to a report quoting the former head of research at the Chinese central bank. The new form of national fiat has brought no benefits to the banks and should expand beyond being employed only as a substitute for cash, the banker believes. Common People Used […]

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Russia Will Not Try to Ban Home Crypto Mining, Finance Ministry Official Indicates

DIGIT — Sun, 03 Apr 2022 06:00:48 +0000

A high-ranking representative of the Ministry of Finance in Moscow sees no point in banning crypto mining in Russian households as it would be hard to restrict the activity. The top official also revealed that the department is currently finalizing regulations for the mining sector as part of efforts to legalize Russia’s crypto space. Russia […]

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Korean Officials Quit Jobs to Join Crypto Industry, Lawmaker Reveals

DIGIT — Mon, 13 Dec 2021 05:30:16 +0000

Public officials in South Korea are increasingly choosing career opportunities in the cryptocurrency sector. Some of them come from financial authorities which raises ethical questions, according to the findings of a Korean lawmaker, quoted by local media. Former Financial Officials Hired by Major Korean Exchanges A growing number of officials in Seoul are vacating their […]

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Russians to Pay Fees on Digital Ruble Transactions, Central Bank Says

DIGIT — Sun, 21 Nov 2021 12:30:20 +0000

Users of Russia’s central bank digital currency are going to pay a fee for each transaction, a high-ranking representative of Bank of Russia has recently announced. The digital ruble charge, however, is not going to exceed those currently applied to fast payments in the country. Bank of Russia to Charge for Digital Ruble Transfers The […]

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Digital Euro Should Be Attractive But Not ‘Too Successful,’ ECB’s Panetta Says

DIGIT — Sun, 07 Nov 2021 13:00:49 +0000

The digital euro should be an attractive means of payment but its design should prevent it from becoming so successful as a store of value that it threatens banks and private money, according to Fabio Panetta, a high-ranking executive at the European Central Bank. Panetta stressed that both this paradox as well as the need […]

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Russia Considers Partially Replacing Dollar Reserves With Digital Assets in Future

DIGIT — Wed, 20 Oct 2021 13:30:08 +0000

Amid ongoing sanctions, the government of Russia has been working to limit the country’s dependence on the U.S. dollar. The Ministry of Foreign Affairs now says it’s possible to partially replace the greenback in currency reserves and trade settlements with other currencies and even digital assets in the future. Foreign Ministry Official Sees Russia Acquiring […]

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Ukraine Officials Fail to Account for Millions in Declared Crypto Assets

DIGIT — Sun, 19 Sep 2021 11:30:36 +0000

Personal asset declarations filed by politicians and government officials in Ukraine have indicated that many have made significant investments in cryptocurrency. However, some of them have been unable to prove ownership or account for their digital holdings, local media reported. Lawmaker Loses Over 40 BTC With Stolen Vehicle in Ukraine Dmitry Gurin, a member of […]

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Bank of Russia to ‘Slow Down’ Payments to Crypto Exchanges, Curb Russians’ Impulsive Investments

DIGIT — Sun, 19 Sep 2021 07:00:32 +0000

Central Bank of Russia is now working with commercial banks in order to delay payments made to digital asset exchanges. The move aims to limit “emotional” cryptocurrency purchases made by “unqualified” Russian investors, a CBR official revealed. The move is likely to affect peer-to-peer and over-the-counter trading platforms. Central Bank of Russia Skeptical of Cryptocurrency […]

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Bitcoin Will Not Become Legal Tender in Uzbekistan, Central Bank Official Insists

DIGIT — Wed, 15 Sep 2021 12:30:57 +0000

Cryptocurrency cannot be adopted as a means of payment in Uzbekistan, a high-ranking official from the country’s central bank has recently stated. Speaking to local media, the regulator’s representative also noted that unlike cryptocurrencies, the national fiat is backed by the bank’s assets. The statement comes in spite of Tashkent’s crypto-friendly moves in the past. […]

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US Government Now Offers Informants Crypto Rewards in Addition to Bank Wires, Suitcases Full of Cash

DIGIT — Mon, 16 Aug 2021 15:30:07 +0000

Attendees of the Black Hat hacker conference in Las Vegas were introduced to a new advertisement crafted by the U.S. State Department. According to individuals who accessed the government advertisement via an open Wi-Fi network called “#Rewardsnotransoms” they discovered the U.S. government is offering to pay crypto rewards to individuals who give up information concerning […]

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