Search Results for: OEC

Crypto Lending Company Blockfi Cuts Staff by 20%

by

On Monday, the cryptocurrency lending company Blockfi announced that “market conditions” have had a “negative impact” on the firm’s business and it will be laying off “roughly 20%” of its staff. The message written by Blockfi co-founders Zac Prince and Flori…

India’s Central Bank RBI to Adopt a ‘Graded Approach’ to Digital Currency Launch

by

India’s central bank, the Reserve Bank of India (RBI), has proposed to adopt a “graded approach” to launching the country’s central bank digital currency (CBDC). The RBI also said it is exploring the pros and cons of introducing a digital rupee…

Report: BRICS Countries Told to Consider Countering the Dollar’s Global Hegemony

by

Chinese experts have called on leaders of BRICS (Brazil, Russia, India, China and South Africa) countries to consider countering the dollar, whose global hegemony is thought to be abusive. Still, the experts concede that any attempt to diminish the dollar’s dominance…

Credibility Concerns — Gallop Poll Shows Fed Chair’s Confidence Ratings Slid by Double Digits

by

According to a Gallop poll published on May 2, the public’s confidence in America’s current economic leaders has been deteriorating. Confidence in U.S. president Joe Biden managing the U.S. economy has dropped from 57% to 40%, and faith in Federal Reserve…

Report: IMF Says Central African Republic’s Bitcoin Adoption Poses Risks

by

The International Money Fund (IMF) has added its voice to institutions and parties criticizing the Central African Republic (CAR)’s decision to adopt bitcoin. The IMF insists the adoption poses legal economic challenges not only to the country but to the region…

Coinbase’s Trading Volume Grew 8.5 Times in 2021 — With 89 Million Verified Users

by

The Nasdaq-listed cryptocurrency exchange Coinbase says the number of monthly transacting users on its platform rose to 11.4 million at the end of 2021, which was more than four times the previous year. In addition, Coinbase’s trading volume grew more than…

RBI Deputy Governor: Banning Crypto Is ‘Most Advisable’ for India, Regulation Is ‘Futile’

by

A deputy governor of India’s central bank, the Reserve Bank of India (RBI), likens cryptocurrencies to Ponzi schemes, emphasizing that they cannot be regulated. “It would be futile to regulate cryptocurrencies,” he claims, stating that they should be banned. RBI’s Deputy…

Lawyer Accuses Huobi of Operating a Cryptocurrency Exchange That’s ‘Held Accountable Nowhere’

by

Houbi Global, which is based in Seychelles, has been accused by lawyer Jonathan Levy of operating without accountability to any jurisdiction. The lawyer adds that the exchange’s physical address in the island nation is for mailing purposes only. Accountability Issues U.S.-based…

India’s Central Bank RBI Discusses Digital Currency and CBDC Launch With Minimal Impact on Monetary Policy

by

India’s central bank, the Reserve Bank of India (RBI), says a basic central bank digital currency (CBDC) model must be adopted initially and tested comprehensively to minimize the impact on the country’s monetary policy and banking system. The Indian apex bank…

Bank of Russia Wants to Restrict Crypto Investments by Blocking Card Payments, Report Reveals

by

The Central Bank of Russia is currently reviewing various ways to prevent Russians from investing in cryptocurrency. One the options on the table is to block card payments to certain recipients such as crypto exchanges, a media report has unveiled. A…