Category: Central Bank

China’s central bank worried about stablecoins’ risk to financial systems

July 8, 2021

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While Visa and other major private payments networks see the potential of stablecoins, China’s central bank believes they pose serious risks to global financial systems. 544 Total views 4 Total shares The Chinese central bank is “quite worried” about the global financial risks associated with digital currencies, particularly stablecoins, according to a senior official. Fan […]

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Blockchain not suitable for CBDC, says Swiss national bank economist

June 25, 2021

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Global economists continue to question the implications of blockchain implementation for central bank digital currencies. 4690 Total views 5 Total shares Blockchain, the underlying technology of cryptocurrencies like Bitcoin (BTC), is not the right solution for a central bank digital currency, according to an economist at Switzerland’s central bank. Carlos Lenz, chief economist at the […]

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Bank of Israel deputy governor confirms digital shekel pilot is underway

June 21, 2021

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Despite the pilot, the central bank’s deputy governor said he was apprehensive about launching a full-scale CBDC in Israel, and referred to Bitcoin as a “pyramid scam.” 2772 Total views 15 Total shares The Bank of Israel has reportedly already issued a central bank digital currency through a pilot test of a digital shekel. According […]

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Central Bank of Kuwait issues warning against crypto investments

May 24, 2021

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The Central Bank of Kuwait said that a “real” currency is one issued by the state. 8975 Total views 32 Total shares Last week’s market-wide price crash caused central banks around the world to issue warnings about the risks of investing in cryptocurrencies.  The Central Bank of Kuwait was no exception, and on Saturday, it […]

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Bank of Canada: Crypto highly risky despite institutional adoption

May 21, 2021

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Crypto volatility is an emerging vulnerability to Canada’s financial system, while stablecoins pose risks for the country’s monetary system, the Bank of Canada said. 19979 Total views 23 Total shares Following a major cryptocurrency sell-off, Canada’s central bank stated that digital assets like Bitcoin (BTC) remain a highly risky asset despite their adoption by institutional […]

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State digital currency to get more trust than crypto, says Russian ex-PM

May 20, 2021

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Former Russian Prime Minister and President Dmitry Medvedev believes that it is time to recognize the importance of crypto and CBDCs. 4250 Total views 10 Total shares Trust in state-backed digital currencies will be “immeasurably higher” than trust in public cryptocurrencies like Bitcoin (BTC), Russian former Prime Minister Dmitry Medvedev argued. Medvedev, the incumbent deputy […]

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Dutch regulators unsure of number of crypto investors in Netherlands

May 20, 2021

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Stringent KYC requirements notwithstanding, the Dutch central bank still does not know how many crypto investors are in the Netherlands. 5541 Total views 13 Total shares De Nederlandsche Bank NV — the Dutch central bank — has registered about 20 crypto exchanges in the country but is no closer to determining the number of cryptocurrency […]

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UK will likely need to issue a digital currency, says BoE deputy governor

May 14, 2021

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The Bank of England’s deputy governor Jon Cunliffe has argued that a sea change in the issuance and circulation of public and private monies could make general access to a digital form of central bank money crucial for ensuring financial stability in future. In a speech at the OMFIF Digital Money Institute in London, Cunliffe reflected […]

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Central Bank of Bahrain and JPMorgan to work on digital currency settlement pilot

May 13, 2021

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The Central Bank of Bahrain expects that its digital currency collaboration with JPMorgan and Bank ABC could extend to a CBDC. 3533 Total views 24 Total shares The government of Bahrain, the third-richest Arab country, is working with American investment bank JPMorgan Chase on a digital currency settlement pilot. The Central Bank of Bahrain officially […]

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Bahamas central bank prepares national Sand Dollar push for summer

May 5, 2021

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The Bahamas is beginning a push for national digital currency adoption this summer, the central bank’s governor, John Rolle, said. 21032 Total views 24 Total shares The Central Bank of the Bahamas is preparing a national push for its digital currency this summer to get more Bahamians signing up for the Sand Dollar. In another […]

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