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Bank of Jamaica Governor: Cryptocurrency ‘Not Sufficiently Stable to Be a Good Means of Payment’

19th June 2022 by admin

The governor of the Jamaican central bank has warned people using or who have plans to use cryptocurrencies to be mindful of the associated risks. The governor added that cryptocurrencies’ unpredictability means they cannot function as a medium of exchange. Not Stable Enough to Be Good Means of Payment The …

Filed Under: Bitcoin News Tagged With: “Good, “Not, Bank, Cryptocurrency, Governor, Jamaica, Means, Payment, Stable, Sufficiently

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

15th June 2022 by admin

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

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 …

Filed Under: Bitcoin News Tagged With: Adults, America, Bank, Crypto, Months, Plan, Surveyed

RBI Official: Central Bank Digital Currencies Could Kill Cryptocurrencies

4th June 2022 by admin

RBI Official: Central Bank Digital Currencies Could Kill Cryptocurrencies

Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar says central bank digital currencies could “kill whatever little case there could be” for cryptocurrencies, like bitcoin and ether. RBI’s Deputy Governor Discusses Impact of CBDCs on Cryptocurrencies RBI Deputy Governor T. Rabi Sankar talked about the potential impact of central bank digital currencies …

Filed Under: Bitcoin News Tagged With: Bank, Central, Could, Cryptocurrencies, Currencies, Digital, Kill, Official

Bank of America CEO: We Have Hundreds of Blockchain Patents — But Regulation Won’t Allow Us to Engage in Crypto

31st May 2022 by admin

Bank of America CEO: We Have Hundreds of Blockchain Patents — But Regulation Won

The CEO of Bank of America says that his bank has hundreds of blockchain patents but regulations will not allow it to engage in crypto. “The reality is that we can’t do it by regulation,” he said. Bank of America’s CEO on Crypto Bank of America (BOA) CEO Brian Moynihan talked about cryptocurrency in …

Filed Under: Bitcoin News Tagged With: Allow, America, Bank, Blockchain, Crypto, Engage, Hundreds, Patents, Regulation, Won’t

Bank of England’s Andrew Bailey Warns Bitcoin Has No Intrinsic Value, Not a Practical Means of Payment

25th May 2022 by admin

Bank of England

The governor of the Bank of England, the British central bank, says bitcoin has no intrinsic value and the cryptocurrency is not suitable as a practical means of payment. His warning came after the crypto market plunged. Andrew Bailey on Bitcoin and Cryptocurrency Bank of England Governor Andrew Bailey warned about bitcoin and cryptocurrency …

Filed Under: Bitcoin News Tagged With: Andrew, Bailey, Bank, Bitcoin, England’s, Intrinsic, Means, Payment, Practical, Value, Warns

India’s Central Bank RBI Warns Crypto Could Lead to Dollarization of Economy

17th May 2022 by admin

India

India’s central bank, the Reserve Bank of India (RBI), has expressed concerns that cryptocurrencies could lead to the dollarization of a part of the Indian economy. “It will seriously undermine the RBI’s capacity to determine monetary policy and regulate the monetary system of the country.” RBI’s Crypto Warnings and Dollarization of Economy The Reserve …

Filed Under: Bitcoin News Tagged With: Bank, Central, Could, Crypto, Dollarization, Economy, India’s, Lead, Warns

National Bank of Ukraine Temporarily Bans Cross-Border Crypto Purchases With Hryvnia

22nd April 2022 by admin

National Bank of Ukraine Temporarily Bans Cross-Border Crypto Purchases With Hryvnia

The central bank of Ukraine has introduced additional restrictions on international transactions that will prevent Ukrainians from buying crypto assets abroad with the national fiat. The measures are intended to reduce capital outflow amid an ongoing military conflict with Russia. Ukraine Citizens Not Allowed to Buy Crypto Abroad From Local Currency Accounts The National …

Filed Under: Bitcoin News Tagged With: Bank, Bans, CrossBorder, Crypto, Hryvnia, National, Purchases, Temporarily, Ukraine

Ghana CBDC Development: New Central Bank Document Outlines Key Motivations for Issuing the Digital Currency

28th March 2022 by admin

Ghana CBDC Development: New Central Bank Document Outlines Key Motivations for Issuing the Digital Currency

In a recently released document, the Bank of Ghana (BOG) outlines some of its key reasons for developing the central bank digital currency (CBDC). Also, in the document, the bank’s governor insists the institution is open to suggestions that will help it to successfully launch the digital currency. Benefits of a CBDC The Ghanaian …

Filed Under: Bitcoin News Tagged With: Bank, CBDC, Central, Currency, Development, Digital, Document, Ghana, Issuing, Motivations, Outlines

Qatar Central Bank Studying Digital Banks and CBDCs

18th March 2022 by admin

Qatar Central Bank is presently examining the possibility of issuing a digital currency as well as digital bank licensing, an official has said. The official adds this study will help the central bank get an understanding of what its area of focus should be. The Growing Significance of CBDC An official with the Qatar …

Filed Under: Bitcoin News Tagged With: Bank, Banks, CBDCs, Central, Digital, Qatar, Studying

British Investment Bank HSBC Joins Metaverse via Sandbox, Animoca Brands Partnership

16th March 2022 by admin

British Investment Bank HSBC Joins Metaverse via Sandbox, Animoca Brands Partnership

The British multinational investment bank and financial services holding company, HSBC, has revealed it has partnered with the blockchain virtual gaming platform The Sandbox. According to the platform’s parent company, Animoca Brands, HSBC is the first global financial services provider to enter The Sandbox metaverse. HSBC Steps Into the Metaverse Over the last 12 …

Filed Under: Bitcoin News Tagged With: Animoca, Bank, Brands, British, HSBC, Investment, Joins, Metaverse, Partnership, Sandbox

Russian Bank Run Begins as Ruble Plunges to Record Low Amid Escalating Sanctions

28th February 2022 by admin

Russian Bank Run Begins as Ruble Plunges to Record Low Amid Escalating Sanctions

A bank run has started in Russia as citizens rush to withdraw cash amid escalating sanctions. The Russian ruble also nosedived to a record low, plunging more than 30%. “There are about 70 people in line. Eyewitnesses say the money in the ATM runs out within 40 minutes.” Russians Rush to Withdraw Cash as …

Filed Under: Bitcoin News Tagged With: Amid, Bank, Begins, Escalating, Plunges, Record, Ruble, Russian, Sanctions

Swiss Crypto Bank SEBA Gets License to Operate in UAE Financial Center

24th February 2022 by admin

The Swiss crypto bank, SEBA Bank, was recently granted a license to operate in the Abu Dhabi Global Market (ADGM), the UAE’s financial center. The license allows SEBA to conduct regulated services. SEBA’s Strategy The Swiss-registered digital asset bank, SEBA Bank, has been granted a license that allows it to operate in the UAE’s …

Filed Under: Bitcoin News Tagged With: Bank, Center, Crypto, Financial, Gets, License, Operate, SEBA, Swiss

Russian Finance Ministry to Draft 2 Crypto Laws as Central Bank Prepares Own Bills

19th February 2022 by admin

Russian Finance Ministry to Draft 2 Crypto Laws as Central Bank Prepares Own Bills

The Russian Ministry of Finance has proposed the adoption of two pieces of legislation aimed at regulating cryptocurrencies. The drafts will be presented for public discussions expected to continue until March 18. Media reports have revealed that Bank of Russia has been working on alternative bills. Russian Ministry of Finance to Open Consultations on …

Filed Under: Bitcoin News Tagged With: Bank, Bills, Central, Crypto, Draft, Finance, Laws, Ministry, Prepares, Russian

Swiss National Bank Trials CBDC in Transactions With Five Banks

14th January 2022 by admin

Swiss National Bank Trials CBDC in Transactions With Five Banks

The Swiss National Bank has successfully employed a wholesale CBDC to settle transactions with five commercial banks, the monetary authority announced. The tests are part of an experiment carried out together with the Bank for International Settlements and Switzerland’s financial services provider SIX. Swiss Central Bank Tests Integration of Wholesale CBDC Settlement With Private …

Filed Under: Bitcoin News Tagged With: Bank, Banks, CBDC, Five, National, Swiss, Transactions, Trials

Global Central Bank Gold Holdings Rose to 36,000 Tons in 2021, Increase Attributed to Dollar’s Decline

5th January 2022 by admin

The total quantity of gold held in reserves by central banks topped 36,000 tons for the first time since 1990, data from World Gold Council has shown. This increase follows growth in the banks’ reported holdings of the asset by 4,500 tons over the past decade. Dollar’s Decline a Boon for Gold The amount …

Filed Under: Bitcoin News Tagged With: 2021, 36000, Attributed, Bank, Central, Decline, Dollars, Global, Gold, Holdings, Increase, Rosé, Tons

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

29th December 2021 by admin

India

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 sees several benefits in launching a digital rupee, including “a potential to enhance …

Filed Under: Bitcoin News Tagged With: Bank, CBDC, Central, Currency, Digital, Discusses, Impact, India’s, Launch, Minimal, Monetary, Policy

Tanzanian Central Bank Governor: Cryptocurrencies Not Outlawed, Traders Should Invest at Own Risk

15th December 2021 by admin

The Tanzanian central bank governor recently revealed that cryptocurrencies are not outlawed in the country but warned those dabbling in crypto-related investments that they do so at their own risk. Central Bank Open to Ideas The governor of the Bank of Tanzania (BOT), Florens Luoga, recently stated that the central bank has not outlawed …

Filed Under: Bitcoin News Tagged With: Bank, Central, Cryptocurrencies, Governor, Invest, Outlawed, Risk, Should, Tanzanian, Traders

Bank of America Sees Massive Opportunity in Metaverse for Entire Crypto Ecosystem

2nd December 2021 by admin

Bank of America Says Metaverse Is a Massive Opportunity Where Cryptocurrencies Will Become Mainstream

Bank of America’s strategist says that the metaverse is a massive opportunity where cryptocurrencies will be widely used as currencies. “I definitely believe this is a massive, massive opportunity,” he said. Bank of America’s Metaverse Prediction Bank of America’s strategist, Haim Israel, told the Insider Tuesday that the metaverse is a massive opportunity for …

Filed Under: Bitcoin News Tagged With: America, Bank, Crypto, Ecosystem, Entire, Massive, Metaverse, Opportunity, Sees

Bank of England: Crypto Assets Pose ‘Limited’ Risks to Stability of UK Financial System

12th October 2021 by admin

Bank of England: Crypto Assets Pose ‘Limited’ Risks to Stability of UK Financial SystemBank of England: Crypto Assets Pose

The Bank of England says that crypto assets pose “limited” direct risks to the stability of the country’s financial system. “Cryptoasset and associated markets and services continue to grow and to develop rapidly. Such assets are becoming increasingly integrated into the financial system,” the U.K.’s central bank described. Crypto Poses Limited Risks to UK’s …

Filed Under: Bitcoin News Tagged With: ‘Limited’, Assets, Bank, Crypto, England, Financial, Pose, Risks, Stability, System

Central Bank of Ukraine Seeks to Hire Blockchain Developer

29th September 2021 by admin

Central Bank of Ukraine Seeks to Hire Blockchain DeveloperCentral Bank of Ukraine Seeks to Hire Blockchain Developer

National Bank of Ukraine is hiring a blockchain expert who will likely support its digital currency project. The vacancy has been announced as the financial institution prepares to pilot e-hryvnia salary payments for government workers as early as this year. NBU Posts Blockchain Developer Ad on Linkedin The central bank of Ukraine is looking …

Filed Under: Bitcoin News Tagged With: Bank, Blockchain, Central, Developer, Hire, Seeks, Ukraine

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