Search Results for: Central Bank

Social Media Users Deride China’s Reported Use of Military Tanks to Intimidate Protesting Bank Customers

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Social media users have slammed China’s reported use of military tanks to intimidate bank customers protesting against the freezing of their savings. Some users claimed the deployment of military tanks exposes the country’s underlying economic problems. Crypto proponents see the issue…

Nigerian Lenders Frustrating CBDC’s Adoption — Central Bank Governor

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Apathetic Nigerian lenders are frustrating the e-naira’s adoption because they are worried this could deprive them of a key revenue source, Godwin Emefiele, the Central Bank of Nigeria (CBN) governor, has said. Emefiele said the central bank is working on a…

Harvard Professor Rogoff: Central Banks, Governments Are ‘Way Behind the Curve’ in Regulating Cryptocurrencies

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Harvard Professor of Economics and former chief economist at the International Monetary Fund (IMF) Kenneth Rogoff says central banks and governments are “way behind the curve” in regulating cryptocurrencies. He added that officials throw out the idea of having central bank…

Bank of England’s Cunliffe Warns Crypto Is ‘Prone to Collapse’ — Touts ‘Same Risk, Same Regulatory Outcome’

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Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, has warned that cryptocurrencies are “very vulnerable to sentiment and prone to collapse.” He urged regulators to “get on with the job” and regulate crypto under the principle of “same…

ECB’s Lagarde, Panetta See Digital Euro as More Efficient Payment Means Than Crypto

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Unbacked cryptocurrencies are not an efficient means of payment and stablecoins are vulnerable to runs, top officials at the European Central Bank have pointed out in a new article making the case for a digital euro. The executives have marked key…

South African Central Bank Now Considers Cryptocurrency to Be a Financial Asset

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The deputy governor of the South African Reserve Bank (SARB) recently said the institution has changed its position on cryptocurrency, and now regards it to be a financial asset which must be regulated as such. The SARB expects to have a…

Russian Blockchain Alternative to SWIFT to Prevent Disconnection of Nations, Banks

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A Russian university is ready to test its blockchain-based analogue to the global payment messaging network SWIFT, from which Russian banks were cut off as part of Western sanctions. The developers say their system would not allow the disconnecting of countries…

G20 Watchdog Announces ‘Robust’ Global Crypto Regulation Coming in October

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The Financial Stability Board (FSB) says it is working on a “robust” regulatory framework for crypto assets and will report its recommendations to the G20 finance ministers and central bank governors in October. FSB to Present Robust Crypto Regulatory Framework to…

100-Year-Old Pennsylvania-Based Bank Approved to Leverage Makerdao’s Stablecoin Vault

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Makerdao, the decentralized autonomous organization (DAO) that issues the stablecoin DAI, approved a governance proposal that provides “collateral integration from a U.S.-based bank.” The Makerdao governance proposal passed by a majority vote of more than 87%, and it gives the U.S….

US Treasury Delivers Crypto Framework to Biden as Directed in Executive Order

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The U.S. Treasury Department has delivered a framework for crypto assets to President Joe Biden, fulfilling its obligation as directed in the executive order on crypto that the president issued in March. U.S. Treasury Secretary Delivers Crypto Framework to Biden The…