Inflation Hit Ethiopia Demonetizes Currency To Curb Cash Hoarding

Inflation Hit Ethiopia Demonetizes Currency To Curb Cash HoardingThe Ethiopian government has unveiled a new set of banknotes that are expected to help authorities in curbing cash hoarding, illegal trade and illicit financial flows. The move is also aimed at boosting the liquidity of banks that are struggling to cope with Ethiopia’s cash-based economy. In a statement released via Twitter on September 14, […]

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$1.4M in Bitcoin Transactions: New High for Argentina as Confidence in the Peso Tanks

$1.4M in Bitcoin Transactions: New High for Argentina as Confidence in the Peso TanksCrisis laden Argentina saw bitcoin transactions worth $1.4 million (101 million pesos) being recorded in the past week, a new high for the country. According to a report by Vorem, this figure is nearly double the previous high of $0.96 million recorded in the last week of June. Citizens who have previously “watched their currency […]

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G20 Considers 10 Rules for Regulation of Stablecoins Like Facebook Libra

G20 Considers 10 Rules for Regulation of Stablecoins Like Facebook LibraThe G20 is setting rules to regulate stablecoins such as Facebook’s Libra cryptocurrency. Responding to a call by the G20, the Financial Stability Board (FSB) has provided 10 “high-level” recommendations that establish a regulatory framework for stablecoins. Also read: IMF Declares Global Recession, 80 Countries Request Help, Trillions of Dollars Needed G20 Sets International Rules […]

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Digital Remittances Reach Record High of $96 Billion, Fees Charged by Traditional Providers Open Door for Cryptocurrencies

Digital Remittances Reach Record High of $96 Billion, Fees Charged by Traditional Providers Open Door for CryptocurrenciesIn a globalized world where labor follows capital, the remittance industry has been growing constantly in both volume and users. Traditional providers like banks and money transfer companies have been charging high fees for their services which creates opportunities for alternative digital platforms and decentralized cryptocurrencies. Also read: Russians Can Use Qiwi, Sberbank, Yandex Money […]

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Low Interest Rates Provide Precarious Protection Against Crisis, World Bank Warns

Low Interest Rates Provide Precarious Protection Against Crisis, World Bank WarnsThe latest global debt wave is the largest in the past five decades, the World Bank has acknowledged in a new report. The international institution notes that previous waves of broad-based debt accumulation lead to widespread financial crises. Historically low interest rates this time might not be sufficient to avoid the next meltdown. Also read: […]

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Indian Finance Minister Answers Crypto Questions at IMF Meeting

Indian Finance Minister Answers Crypto Questions at IMF ConferenceAt an IMF and World Bank meeting, Indian Finance Minister Nirmala Sitharaman talked about cryptocurrency and stablecoins when asked about Facebook’s Libra digital currency project. RBI Governor Shaktikanta Das also addressed the subject at the conference. Also read: Indian Supreme Court Postpones Crypto Case to November, New Date Confirmed Finance Minister Talks Crypto At the […]

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The World Bank’s Blockchain Bond Is Just a Fancy Way of Selling Debt

Last year the World Bank and the Commonwealth Bank of Australia announced a permissioned Ethereum-based blockchain to facilitate the end-to-end issuance of bonds between financial partners. The Bretton Woods-created financial institution hopes to make debt capital markets far more efficient with a bank-to-bank blockchain network. At the same time, the World Bank’s bond scheme has […]

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