Central Bank | Crypto Profit Bot

BIS report suggests ‘embedded‘ monitoring tool for stablecoins

November 24, 2020

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After proposing automated ways to monitor global stablecoins like Libra, a new report from BIS argues that a better solution may ultimately be central bank digital currencies. 7449 Total views 56 Total shares Facebook’s proposal for its digital currency, Libra, was a wake-up call for international regulatory agencies, finance ministries and central bankers. All these […]

Ripple seeks director to engage with central banks on digital currency

November 23, 2020

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Ripple is looking to define its strategy regarding central bank digital currencies. 10281 Total views 55 Total shares Ripple, the payment services using digital currency XRP, is looking for an expert specializing in central bank digital currencies, or CBDCs. According to a recent job posting by Ripple, the firm is seeking a senior director of central […]

Japan’s megabanks to lead experiment with digital yen

November 19, 2020

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Could a new, coordinated effort to digitalize the Japanese economy be strong enough to compete with residents’ persistent use of cash? 3014 Total views 7 Total shares Japan’s three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen. The group consists […]

Dutch Bitcoin firm reluctantly tightens rules at central bank’s behest

November 18, 2020

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Unique in Europe, the Dutch central bank now requires Bitcoin exchanges to prove that their users actually control their withdrawal addresses. 3141 Total views 24 Total shares Bitconic, a Netherlands-based Bitcoin (BTC) exchange, has informed its users that they now need to comply with a new verification measure in order to continue to use its […]

Former Bank of Japan exec says Japan will need years to issue digital yen

November 17, 2020

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A former Bank of Japan official is concerned about a digital yen triggering massive outflows from private bank deposits. 5174 Total views 36 Total shares Hiromi Yamaoka, former head of the payment and settlement systems department at the Bank of Japan, said that the country will likely need several years before it can issue a […]

Central bank digital currencies are dead in the water

November 15, 2020

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Mark my words: Governments and central banks will never care about your wealth and your privacy as much as you do. That reality is exactly why central bank digital currencies are dead in the water already. They say if you can’t beat them, join them. That’s exactly what CBDCs are attempting to do. They want […]

Ukraine is prepared to lead Eastern Europe’s crypto space

November 15, 2020

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Ukraine is ranked as the world’s leader in the Global Crypto Adoption Index 2020, according to a research published by Chainalysis earlier this fall. Despite this, cryptocurrencies still remain a gray area in the economy. Since 2014, Ukrainian authorities have been trying to implement crypto legislation that would transform the country into a competitive jurisdiction […]

‘Banks will have to adjust’ to crypto, says Bank of England leader

November 13, 2020

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Jon Cunliffe, one of the leaders of England’s central bank, said banks must adapt to the changes brought on by digital assets. 2426 Total views 27 Total shares Blockchain and digital assets offer folks the ability to store their own assets, possibly threatening the solution banks offer. Making sure banks remain relevant is not on […]

Deutsche Bank: Central bank digital currency will replace cash in long term

November 12, 2020

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Deutsche Bank has called on Europe to accelerate the development of central bank digital currencies. 5202 Total views 81 Total shares Deutsche Bank, the largest banking institution in Germany, is confident that central bank digital currencies, or CBDCs, will replace cash in the future. The bank’s research arm, Deutsche Bank Research, published a new report […]

Lebanon to launch digital currency in face of economic and financial turmoil

November 10, 2020

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Lebanon’s central bank governor says the country, whose lira has been in freefall, is preparing to launch a digital currency in 2021. 334 Total views 6 Total shares Lebanon’s central bank plans to launch a new digital currency in 2021 as part of a broader effort to combat a parallel economic and financial crisis that […]

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Category: Central Bank