Central Banks Step Up Bitcoin, Stablecoin Bashing Efforts Amid CBDC Plans

The Bank for International Settlements keeps bashing cryptocurrencies, such as bitcoin (BTC), and stablecoins, while preparing the ground for central bank digital currencies (CBDC), saying that they "open a new chapter for the monetary system." Central bank interest in CBDCs comes at a critical time when three major recent developments placed certain "potential

Bank of Israel steps up CBDC efforts with reported tests on Ethereum

The Bank of Israel has experimented with using Ethereum and nonfungible tokens for a pilot as part of its ongoing digital shekel research, a local report claims. Israel's central bank has allegedly completed a pilot — under the radar — for a central bank digital currency (CBDC) using Ethereum's technology.

South Africa Bank Blocks Clients From Buying Crypto on Binance, Exchange Rejects Allegations

A South African bank, Absa, has reportedly blocked use of its credit cards for users buying cryptocurrencies on international exchanges, according to one media report.

Rwanda Central Bank Joins CBDC Bandwagon After Announcing Digital Currency Research

The National Bank of Rwanda (NBR) has become the latest African central bank to join the digital currency movement after an employee confirmed the institution is studying the possibilities of issuing its own digital currency.

Bank of France, Swiss Crypto Bank Test Securities Settlement Using CBDC

The Bank of France has successfully completed an experiment involving the use of CBDC to settle listed securities.

New Bank of America Report Says Digital Currencies ‘Could Boost Economic Growth’ in Developing Countries

A new Bank of America (BOA) research study has found that both central bank digital currencies (CBDCs) and private digital currencies hold “a lot of potential” for increasing financial inclusion in developing countries.

Central Bank Of Portugal Approves Licenses For Crypto Exchange

In another win for the adoption of blockchain technology and cryptocurrencies, the Central Bank of Portugal (Banco de Portugal) has officially announced that they will begin approving licenses for crypto exchanges to operate within the country.

Top Chinese Bank Bans Access to Crypto, Issues Stern Warning To Rule Breakers

China’s third-largest bank, the Agricultural Bank of China, has announced it is cracking down on cryptocurrency transactions.

Digital Euro Promises To Protect People’s Privacy, According to ECB Board Member

European Central Bank (ECB) executive board member Fabio Panetta promises that the digital euro will respect the privacy of consumers.

Bank of France Conducts CBDC Test to Settle Listed Securities

The French central bank has conducted an experiment involving digital MNBC and the settlement of securities.

Bank of Israel Has Coducted Digital Currency Shekel Crypto Testing

Israel announced that the country has already conducted a pilot test on its digital shekel as part of its efforts to issue the Central Bank Digital Currency for public use.

South Korea Mulls Singapore-style Approach to Crypto Regulation

Singapore. The South Korean financial regulator is looking to Singapore for inspiration as it forms new crypto sector policies, sparking anticipation that it may look to adopt a similar system. Singapore is known for having one of the most progressive approaches to crypto regulation in the world, and its crypto exchanges are policed by the central bank and chief

Chris Giancarlo: US risks becoming 'backwater' without central bank digital currency

The former CFTC chairman weighs in on what a US CBDC might look like, as well as the benefits it could bring to American citizens. One of the few high-profile public officials to have served under both the Obama and Trump administrations, Chris Giancarlo is a former Wall Street executive-turn-regulator who is widely-respected by nearly all parties on Capitol Hill.

Bank of Israel deputy governor confirms digital shekel pilot is underway

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." The Bank of Israel has reportedly already issued a central bank digital currency through a pilot test of a digital shekel.According to a Monday report from the Jerusalem Post, Bank of Israel deputy governor, Andrew Abir, said the financial institution had started to conduct a pilot program for a digital shekel.

Nvidia GPU prices in China fall amid crypto mining crackdown

Graphics card prices in China reportedly dropped as much as two-thirds on Chinese e-commerce websites. Amid the ongoing crackdown on cryptocurrency mining in China, prices of graphic cards from major GPU providers like Nvidia and Asus are becoming more affordable. According to a Monday report by South China Morning Post (SCMP), prices of some graphic cards have tumbled as much as two-thirds on Chinese e-commerce platforms after Sichuan province terminated mining operations.Asus’ flagship RTX 3060 card was reportedly down to 4,699 Chinese yuan ($730) on Monday from its peak price of 13,499 yuan ($2,100) in May on JD.com-operated online retail site Tmall.Nvidia's Quadro P1000, a less advanced card, dropped to 2,429 yuan ($380) on a JD.com franchise store, down from a peak of about 3,000 yuan ($470) in early May, the SCMP reported, citing price changes tracked by e-commerce data provider Manmanbuy.The price downturn aligns with a major sell-off on the cryptocurrency market, with Bitcoin (BTC) tumbling to $32,500 amid another wave of FUD in China.Related: Bitcoin hash rate hits 8-month low as Chinese miners power downOn Monday, China’s central bank reiterated the country’s ban on cryptocurrency trading, reportedly urging banks and payment institutions to halt services for accounts associated with crypto trading activity. After banning crypto trading back in 2017, the Chinese government has been toughening its stance on crypto recently, launching a major crackdown on cryptocurrency mining.

Coinbase-backed Securitize secures $48M in Series B funding

Morgan Stanley Tactical Value and Blockchain Capital have led a funding round for Securitize. Morgan Stanley has made its first capital investment foray into the blockchain space, co-leading a $48 million funding for Securitize.According to a release issued on Monday, the Coinbase-backed asset tokenization outfit has completed a Series B funding round that drew participation from Morgan Stanley Tactical Value-managed investment funds and Blockchain Capital.Other participants in the funding round included Sumitomo Mitsui Trust Bank (SMTB), Emin Gün Sirer’s Ava Labs, and venture capital fund IDC Ventures, among others.The oversubscribed Series B round also saw participation from previous Securitize backers like Ripple and Borderless Capital.Monday’s Series B funding announcement comes barely a month after successfully closing a $12.75 million Series B funding round.As with other Securitize capital raises, the Series B investors will receive their shares as digital assets issued by the firm.

New World Bank Report: Nigeria’s Exchange Rate Policies Fueling Inflation, Affecting Food Prices

Nigeria’s use of multiple exchange rates regimes may have contributed to a rise in the country’s inflation rate, the latest World Bank report has said.

Bank TSB set to bar 5.4M customers from buying crypto

Bank TSB is set to become the latest financial institution in the United Kingdom to prevent customers from investing in crypto. United Kingdom-based financial institution TSB Banking Group Plc.

PBOC Instructs China’s Banks to Forbid All Cryptocurrency Related Activities Immediately

China’s central bank has sent notice to the country’s financial institutions instructing them to stop dealing with cryptocurrency transactions.

People’s Bank of China With a Broader Crackdown on Bitcoin and Crypto

China's central bank has prohibited numerous banking and payment organizations from operating with cryptocurrencies.

Banks fall in line as China’s central bank cracks down on crypto accounts

AgBank — the world's third-largest bank by assets — has indicated it will follow the PBoC’s cue and work to stamp out its clients’ crypto-related activities. The Agriculture Bank of China (AgBank) — the world's third-largest bank by assets — is set to implement Beijing’s firm anti-cryptocurrency measures and rigorously vet its clients to ensure they are not engaged in any form of illegal activities involving crypto transacting, trading or mining.AgBank’s statement today followed the institution’s meeting with the People’s Bank of China (PBoC), which convened major domestic banks and mobile payment service providers and ordered them to ensure that banking and settlement services are denied to clients engaged in crypto-related transactions.

Crypto is the most dangerous investment, Bank of Russia governor says

The governor of the Bank of Russia has maintained a tough stance on Bitcoin despite growing criticism of how the bank has handled digital asset regulation. The Bank of Russia continues its tough stance on cryptocurrency trading despite growing concerns over the country missing out on the digital asset industry. The governor of Russia’s central bank, Elvira Nabiullina, reiterated the bank’s negative stance on crypto in a Monday interview with Komsomolskaya Pravda, arguing that crypto is one of the most dangerous investments that currently exist.Nabiullina mentioned crypto within the context of other high-risk investment spaces like foreign exchange markets.

China Central Bank Calls for Broader Crypto Crackdown

China's Central Bank has today announced that Chinese banks and payment institutions must further crackdown on crypto transactions.

Signature Bank’s Blockchain Payment Platform to Accept Trueusd Stablecoin

As Signature Bank expands its commercial banking offerings, the trueusd stablecoin has been integrated with its Signet blockchain-based digital payment platform to deliver instant dollar payments.

China's Central Bank Cracks Down On Crypto Trading

Source: iStock/杨培培 Today, the People’s Bank of China said that major banks and payment institutions promised they will not engage in crypto-related activities following a meeting with the market regulator. The central bank said it summoned several major financial players, such as Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Postal Savings

China's 3rd largest bank 'rugs' BTC: 5 things to watch in Bitcoin this week

A statement threatening account closures for crypto activity causes mayhem before being deleted minutes later as FUD rules supreme on Bitcoin markets this week. Bitcoin (BTC) is lower going into a new week’s trading — Monday has seen a test of levels below $33,000 and bulls are struggling.What could be next? With bullish short-term voices few and far between, it seems that cryptocurrency just isn’t of interest to investors right now.Against a backdrop of macro market uncertainty, low volumes and claims of a bull market top, Bitcoin has a lot to do to convince the market that the good times still lie ahead.Cointelegraph offers five things to consider when charting what might happen to BTC/USD in the coming days.

Banque de France tests digital currency-based securities settlement

The Bank of France has completed a central bank digital currency pilot for securities transactions in collaboration with Swiss crypto bank SEBA.

Spain Bank BBVA Launches Bitcoin Trading Service in Switzerland

Spanish bank BBVA launches a new Bitcoin trading service for its customers based in Switzerland.

TSB Bank Plans to Ban Cryptocurrency Purchases Due to Increasing Fraud Numbers: Report

TSB, a British bank, is planning to ban cryptocurrency purchases due to fraud concerns.

Chinese Big-four Bank to Crack Down on Crypto, Will ‘Report’ Offenders

One of China’s biggest commercial banks, the Agricultural Bank of China, said it will crack down on crypto transactions, and will seek to block accounts connected with bitcoin (BTC) and crypto-related activity. The bank has issued a terse and short statement on the matter, which was published in full by East Money. BTC, ethereum (ETH), and many altcoins dropped

Bitcoin Dumps to $32K as China’s Third-Largest Bank Announced a Ban on Crypto Usage

China's third-largest bank has banned its customers from interacting with bitcoin and other cryptocurrencies, leading to massive price drops.

Bitcoin price dips to $32.5K on 'consistent' new China FUD

BTC/USD sheds $1,000 almost instantly as China's third-largest bank puts the cats amongst the pigeons in early trading. Bitcoin (BTC) shed $1,000 in minutes on June 21 as fresh news from China succeeded in routing bulls yet again. BTC/USD 1-hour candle chart (Bitstamp).

Goldman Sachs Starts Trading Bitcoin Futures, Taps Galaxy Digital as Liquidity Provider

Goldman Sachs has partnered with Galax Digital to help the US investment bank offer Bitcoin futures products.

Digital euro offers better privacy protections than private stablecoins: ECB official

Unlike private companies, the ECB has “no commercial interest” in monetizing users’ data, the ECB executive board member argued. European Central Bank (ECB) executive board member, Fabio Panetta, has argued that a digital euro offers superior privacy protections than privately issued stablecoins.Panetta criticized the profit motive of private firms, emphasizing it is in their commercial interests to harvest masses of data on their users.“We are not like private companies,” the board member told Financial Times.

Russian Billionaire Slams Central Bank’s Crypto Policy, Says Even El Salvador Realizes the Need for Bitcoin

Russian billionaire Oleg Deripaska wants the Bank of Russia, the country’s central bank, to embrace cryptocurrency, citing El Salvador’s bitcoin law as an example.

Minneapolis Fed President Neel Kashkari calls DOGE a ponzi

The central banker previously referred to cryptocurrencies as a “giant garbage dumpster.” Federal Reserve Bank of Minneaopolis President Neel Kashkari took a jab at Dogecoin (DOGE) last week by referring to the meme coin as a ponzi, upping his rhetoric against cryptocurrencies. Kashkari’s comments were in response to a LinkedIn poll by Paul Grewal, the chief legal officer and corporate secretary at Coinbase, asking his connections about the proper way to pronounce Doge.

ECB Board Member: CBDC Euro Would Respect Privacy, Unlike Private ‘Unstable Coins’

European Central bank executive Fabio Panetta thinks a government-run digital euro would preserve people's privacy—unlike Facebook-backed Diem’s “unstable coin.”

Russian Billionaire Oleg Deripaska Urges Bank of Russia to Move to Bitcoin

Russia should follow El Salvador's example and accept BTC as a payment method, asserted billionaire Oleg Deripaska.

Bank of Uganda Launches Regulatory Sandbox Framework — One Fintech Firm Already Approved

The Bank of Uganda (BOU) has announced the launch of a regulatory sandbox that will allow fintech start-ups to test their innovative financial solutions in a controlled environment.

Why UK's TSB plans to block customers from sending money to Binance and Kraken?

Using ‘security and exposure to fraud’ as key arguments, this bank in the UK is now making it difficult for its customers to engage in crypto-related transactions.

UK Bank Bans Crypto Purchases From Binance and Kraken, Reports

TSB is reportedly taking actions to prevent its customers from using Kraken and Binance to buy crypto because of their alleged poor safety measures.

Denmark’s Danske bank open to reviewing position on 'partially regulated' cryptos

While cryptocurrencies previously stood at the fringe of the payments space, 2021 saw institutional interest increase as governments and banks invested heavily in the space.

One of the World’s Largest Banks Launching Bitcoin Trading and Custody in Switzerland

After six months of testing, this Switzerland bank is set to offer Bitcoin trading and custody services to its clients.

$3.6 Billion Crypto Heist: South African Bank Denies Business Relationship With Fraud Accused Africrypt

According to local media, leading South African financial institution FNB is denying allegations of a banking relationship with the recently collapsed crypto investment company, Africrypt.

Danske Bank Takes Position on Cryptocurrencies, Will Not Interfere With Crypto Trading

Danske Bank will not block credit cards used in crypto trading, according to its newly announced position on cryptocurrencies.

Goldman Sachs Partners With Galaxy Digital For Bitcoin Futures

Goldman Sachs furthering investment into bitcoin, and even crypto more broadly, shouldn’t surprise anyone too much by now.

Goldman Sachs to offer Bitcoin futures trading in partnership with Galaxy Digital

Mike Novogratz’s Galaxy Digital will serve as the counterparty entity for Goldman Sachs’s Bitcoin futures trading product. Goldman Sachs has debuted a Bitcoin (BTC) futures trading product for its client in collaboration with crypto investment giant Galaxy Digital.According to CNBC, the move marks the first time the Wall Street bank has partnered with a digital asset-based liquidity provider.

Spain’s BBVA Opens Bitcoin Trading to All Private Banking Clients in Switzerland

Spain’s second-largest bank, BBVA, is opening up its bitcoin trading and custody service to all private banking clients in Switzerland in a few days.

Over 3,000 ATMs in Beijing can now convert digital yuan into cash

The Agricultural Bank of China previously debuted digital yuan ATMs this January. China continues apace with the adoption of its central bank digital currency (CBDC) as major banks launch a significant batch of digital yuan-powered ATMs.The digital yuan — a CBDC controlled by The People’s Bank of China — is now available for deposit and withdrawals at over 3,000 ATMs across Beijing, state-run Xinhua news agency reported Friday.According to the report, the Beijing branch of the Industrial and Commercial Bank of China has become the first bank to fully enable the digital yuan exchange in the Chinese capital city by setting up more than 3,000 digital currency-compatible ATMs.The Agricultural Bank of China (ABC), another major bank involved in China’s CBDC tests, has also deployed more than 10 ATMs in the Wangfujing area, a major shopping street in Beijing.

Bitcoin pinned below $38K as investors stash record $756 billion with Fed

Bitcoin bulls ducked for cover as the Federal Reserve started paying interest rate returns on cash deposits via its reverse repurchase program. Bitcoin (BTC) suffered as investors moved a record amount of cash in Federal Reserve's overnight facility after the central bank started paying interest on the money.The US central bank received $756 billion via its reverse repurchase program from nearly 70 market participants on Thursday.

Banking giant BBVA debuts Bitcoin trading and custody for Swiss clients

BBVA Switzerland will soon begin offering Bitcoin trading to private banking clients while not providing any advisory services on crypto investments. Banco Bilbao Vizcaya Argentaria (BBVA) — Spain’s second-largest bank — is set to offer Bitcoin (BTC) trading and custody services in Switzerland.According to a release issued on Friday, BBVA Switzerland will begin Bitcoin trading for all private banking clients interested in crypto assets from June 21.This initial crypto trading service isonly for Bitcoin but the bank says it has plans to extend its offering to other cryptocurrencies.

Russian oligarch Deripaska blasts Bank of Russia for ignoring Bitcoin

Russia needs to move to Bitcoin to provide a “real financial instrument enabling independence in foreign trade settlements,” Deripaska argued. Russian industrial tycoon Oleg Deripaska is the latest figure to criticize the Bank of Russia’s stance on cryptocurrency regulation in the country.Deripaska took to his official Telegram channel on Thursday to blast the Russian central bank for pressuring the crypto industry to avoid getting involved into cryptocurrencies like Bitcoin (BTC).The Russian oligarch pointed out that even small countries like El Salvador have moved into Bitcoin by recognizing it as legal tender:“Even poor El Salvador, known for being close to oft-mentioned Honduras, has realized the need for digital currencies and taken a simple path, recognizing Bitcoin as a means of payment.”Deripaska went on to criticize the central bank for its non-committal response to the crypto industry development, particularly the bank’s statements regarding the digital ruble.

'Crypto Bank Run' Shows Mark Cuban That DYOR Comes Before Regulation

Mark Cuban. Source: a video screenshot, Youtube, The Filmy Amid the algorithmic stablecoin debate prompted by what decentralized finance (DeFi) protocol Iron Finance called "the world’s first large-scale crypto bank run," many in the Cryptoverse came down quite hard on Dallas Mavericks owner Mark Cuban for his call for stablecoin regulation - arguing that he should've done due

Denmark’s largest bank cautious on crypto, but won't interfere

Danske Bank isn't completely sold on cryptocurrency but said it won't stop its customers from using its services in connection with crypto platforms. Danske Bank, the largest bank in Denmark, laid out its official position on cryptocurrencies on June 17, when it published a four-point notice describing reasons to be careful when trading in digital assets.While the bank urged users to exercise caution, it stopped short of taking any practical stance against cryptocurrency.

Mark Cuban calls for stablecoin regulation in wake of Iron Finance 'bank run'

After a bank run on the Iron Finance protocol cost him dearly, Mark Cuban is calling for regulation to define “what a stablecoin is and what collateralization is acceptable.” Billionaire investor and DeFi proponent Mark Cuban has called for stablecoin regulation after losing money on what he dubbed as a “rug pull” on the Iron Finance protocol.

Bitcoin Energy ‘Shortcomings’ Will Not Deter Digital Currency Research: Bank of England

But the UK’s central bank still hasn’t decided if it will release one.

Bitcoin Bubble Has Not Popped Despite Huge Move to the Downside: Bank of America Survey

The majority of fund managers surveyed by Bank of America Corp.

Iron Finance Token Slides From $64 to Near Zero Following ‘Large-Scale Crypto Bank Run’

The Iron Titanium token (TITAN) value has quaked a great deal after the project suffered from what the team called “the world’s first large-scale crypto bank run.” After touching a high of $64 per token on Wednesday, the project slid to near zero and remained worthless on Thursday afternoon.

Goldman Sachs: Bitcoin Not an 'Investable Asset Class', Dogecoin Ideal for 'Speculation'

The bank, despite showing interest in Bitcoin recently, is still warning its clients against investing in crypto assets.

World Bank Refuses to Help El Salvador Make Bitcoin Legal Tender Citing Environmental and Transparency Issues

The World Bank has refused to provide technical assistance to El Salvador in implementing bitcoin as legal tender.

An asset for all classes: What to expect from Bitcoin as a legal tender

New tech that reduces costs of international payments would “be a boon for poor countries that rely on remittances” — but will BTC as legal tender fix that? For much of its life, Bitcoin (BTC) has been viewed mainly as a speculative financial instrument, but El Salvador’s dramatic move in making BTC a legal tender is a reminder that cryptocurrencies can play a role in uplifting the world’s less-well-off citizens.Two surprising facts emerged on the global stage at the start of June: First, 70% of El Salvador’s population do not have bank accounts, and second, remittances — i.e., money sent home from workers abroad — are fueling El Salvador’s economy, accounting for an astonishing 23% of the gross domestic product.In this regard, Chainalysis was prescient last year when it described the global remittance problem in a blog — perhaps even anticipating a move like El Salvador’s: “Given the importance of remittances in the region, Latin America is one place we would expect to see such activity.”El Salvador’s president, Nayib Bukele, declared that as a result of the new law, “Bitcoin will have 10 million potential new users” in El Salvador, adding that BTC is the “fastest-growing way to transfer $6 billion a year in remittances.”The new law was met with skepticism among some mainstream economists, however, who deemed it unworkable.

Iron Finance’s Titan Token Crashes to $0 In a Sudden DeFi ‘Bank Run’

Titan Token - one of the cryptocurrencies under Iron Finance's belt, crashed to almost $0 in a sudden DeFi 'bank run'.

World Bank Won't Help El Salvador Develop Its Bitcoin Project

The World Bank has refused to help El Salvador implement Bitcoin as legal tender, citing environmental and transparency concerns. 

World Bank cites this as a Bitcoin issue for not helping El Salvador

The World Bank has rejected El Salvador's request to implement Bitcoin as legal tender.

Digital Euro Will Pull Out Traditional Bank Deposits by 8%, Says Morgan Stanley

The advent of the Digital Euro may spark a reduction in cash deposits by 8%, estimated by Morgan Stanley.

World Bank Accused Of Ignorance & Hypocrisy As It Refuses to Help El Salvador

Commentators have accused the World Bank of hypocrisy and ignorance after it stated that it would not assist El Salvador and its President Nayib Bukele’s plan to create a bitcoin (BTC)-powered economy – claiming that bitcoin has displayed “environmental” and “transparency” “shortcomings.” Per Reuters, a World Bank spokesperson claimed El Salvador had

World Bank refuses El Salvador's request for help on BTC transition

The World Bank has refused to support El Salvador’s request for help in the transition to use Bitcoin as legal tender.

World Bank Shuns El Salvador Bitcoin Adoption Plan

The World Bank has stated that it cannot assist El Salvador's Bitcoin implementation due to environmental concerns and transparency drawbacks.

World Bank Refuses El Salvador’s Request on Assisting Bitcoin Currency Adoption

The World Bank rejects offering technical assistance for El Salvador to implement its Bitcoin adoption agenda given environmental and transparency concerns.

Indonesia's central bank marshals staff to enforce crypto payments ban

Indonesia’s central bank is sending supervisors out to ensure local financial institutions aren’t defying the nationwide ban of crypto payments this bull season. Indonesia’s central bank governor, Perry Warjiyo, is mobilizing official supervisors to enforce the country’s ban on financial institutions using crypto assets as a means of payment.During a virtual seminar on Tuesday, June 15, Warjiyo reiterated that local financial firms and payment provided are prohibited from facilitating the use of cryptocurrency to settle payments or as an instrument used in other financial services.The central bank governor emphasized that crypto assets are “not legitimate payment instruments under the constitution, Bank Indonesia Law, and Currency Law,” noting that field supervisors will be sent out to ensure that local financial institutions adhere to the policy.Bank Indonesia prohibited financial institutions from using crypto for payments in late 2017, with the central bank halting payment processors from using cryptocurrency to settle transactions the previous year.Despite the central bank’s prohibition of crypto for payments and its early 2018 warnings against virtual currency, Indonesia’s Commodity Futures Trading Regulatory Agency issued regulations in February 2019 that legitimized cryptocurrencies as speculative commodities and paved the way for cryptocurrency derivatives to be traded on local stock exchanges.The guidelines provided a legal framework for “the trading of crypto assets as commodities that could become the subject of futures contracts and other derivative contracts traded in the stock market.”Warjiyo’s warning emphasizing the ban comes just weeks after he announced Bank Indonesia is working on a central bank digital currency (CBDC).

Bank of America Survey: Most Fund Managers Say Bitcoin Is a Bubble, Inflation Is Transitory

The latest Bank of America’s Global Fund Manager Survey shows that “long bitcoin” is now the second most crowded trade.

Central American Bank for Economic Integration to Help El Salvador Implement Bitcoin as Legal Tender

The Central American Bank for Economic Integration (CABEI), which has 15 member countries, will help El Salvador implement bitcoin as legal tender.

Indonesia: Central bank gov. warns banks against 'not legitimate' cryptocurrencies

With people from the crypto-community rejoicing over El Salvador’s official Bitcoin adoption, skepticism from other nations has managed to re-surface, with Indonesia being the latest to voice concerThe post Indonesia: Central bank gov.

Bank of England Boss Pledges ‘Tough Love’ in Cryptocurrency Regulation

Bank of England Governor Andrew Bailey says there will be an element of “tough love” in regulating cryptocurrency.

Nigerian Central Bank Threatens Jail Time for Citizens Caught Defacing Naira Banknotes

Fighting to stop the value of the naira from dropping further, the Central Bank of Nigeria (CBN) faces yet another problem: abuse of naira banknotes.

Digital euro could drain 8% of bank deposits, Morgan Stanley says

Banks in smaller countries like Latvia, Estonia and Greece could be impacted harder by the digital euro, analysts said. Analysts at the American multinational investment bank Morgan Stanley have estimated the likely changes in eurozone banks’ deposits should a digital euro be widely adopted.According to the analysts, a European Union central bank digital currency (CBDC) could suck away 8% of customer deposits from eurozone banks, Reuters reports Wednesday.

Indonesia’s Central Bank Bans the Use of Cryptocurrencies for Payments

The country's central bank has warned all financial services providers to stop accepting cryptocurrencies as a means of payment from their clients.

Sygnum to offer banking services to Aave, Uniswap, and other DeFi tokens 

Switzerland-based digital asset Bank, Sygnum has launched institutional-grade custody and trading services for Aave and Uniswap, among other decentralized finance [DeFi] tokens.

Democratic lawmakers have formed group to address regulatory concerns around crypto

US President Joe Biden is also expected to discuss crypto's role in ransomware attacks during his meeting with Russian President Vladimir Putin on Wednesday. Maxine Waters, who represents California's 43rd congressional district in the US Congress, said she had organized a group of Democratic lawmakers for a deep dive on cryptocurrencies and central bank digital currencies. In a Tuesday virtual hearing of the US House of Representatives’ Task Force on Financial Technology, Waters said “cryptocurrencies and other digital assets” were an important issue for the House Financial Services Committee, for which she is the chairperson.

Bitcoin Is 'Not Money', Says Bank of England's Andrew Bailey

The UK central bank boss continues to bash Bitcoin—but has his eye on stablecoins.

JPMorgan Is Stockpiling Cash – CEO Claims There’s a ‘Very Good Chance Inflation Will Be More Than Transitory’

Investment bank JPMorgan Chase is stockpiling cash according to the company’s CEO Jamie Dimon.

Maxine Waters Announces Congressional Working Group on Crypto

Rep. Waters made the announcement during a hearing on central bank digital currencies.

81% of Fund Managers Still Think Bitcoin Is a Bubble: Bank of America Survey

The vast majority of fund managers surveyed by Bank of America believe Bitcoin is a bubble.

How CABEI Will Support Implementation Of Bitcoin Law In El Salvador

Dante Mossi, president of The Central American Bank for Economic Integration (CABEI), confirmed in a press conference that the institution will support El Salvador’s efforts to enforce its Bitcoin Law.

Tanzanian President Wants Central Bank Chiefs to ‘Prepare for Cryptocurrency’

Tanzanian President Samia Suluhu Hassan has urged her country to be ready for emerging fintech by paving the way for cryptocurrencies.

Russian central bank ‘short-sighted’ regarding crypto, lawmaker says

A long-time member of the Russian State Duma has criticized the central bank’s approach to digital assets. A Russian State Duma member has blasted the central bank’s tough stance on the cryptocurrency industry for ignoring the growing demand for crypto in the country.Fedot Tumusov, a member of the “A Just Russia” party representing the Siberian region of Yakutsk, has criticized the Bank of Russia’s approach to regulating the crypto industry following a Tuesday plenary meeting of the State Duma.In a Tuesday Telegram post, Tumusov outlined the growing need to create an ecosystem that allows Russian residents to purchase cryptocurrencies like Bitcoin (BTC) amid increasing demand.

Sygnum Adds Banking Services for DeFi Tokens Including Aave and Uniswap

The Swiss digital assets bank is launching institutional-grade custody and trading services for DeFi tokens, with yield-generating products to follow.

Economists Want El Salvador Bitcoin Law Repealed, but President Wins Key Ally

El Salvador is edging ever closer to fulfilling its President Nayib Bukele’s Bitcoin (BTC) dreams – with external help on its way, although voices of disdain continue to warn of impending financial peril if Bukele gets his way. Per Reuters and AFP (via El Economista), the head of the Central American Bank for Economic Integration (the Banco Centroamericano de

CABEI Offers Assistance to Support El Salvador’s Bitcoin Adoption

The Central American Bank for Economic Integration (CABEI) disclosed that the institution would offer assistance to El Salvador to enable Bitcoin as flat money.

Goldman Sachs Expands Cryptocurrency Trading Desk With Ether Futures and Options

Investment bank Goldman Sachs has reportedly unveiled its plans to expand its cryptocurrency desk to offer ether futures and options trading.

Is DeFi technology easy enough to adapt to non-finance industries?

DeFi gets a bad rap for being complex, technology makes it simple enough to cut out middlemen in non-finance industries ranging from energy to e-commerce. Decentralized finance is far and away the hottest topic in crypto, touted as a way to make a fortune by backing the right token, but also a tool for taking the crypto you were hodling in a cold wallet and set it to work earning interest at extraordinary rates.There’s a reason DeFi has grown so large so quickly that it has slowed the Ethereum blockchain where most of the projects live to a crawl, and sent gas prices for transactions soaring to $10, $50, even $100 at times.DeFi is mostly talked about in terms of taking over the banking and brokerage functions that big finance thrives on, but the technology can be used to revolutionize many other businesses, from energy to e-commerce.That reason is simple: At its core, decentralized finance is about eliminating the middleman.Why give a bank your money — for a paltry fraction of 1% interest — for it to loan out, when you can loan it out for orders of magnitude more through a crypto lending site?Or invest it in a liquidity pool that uses an automated market maker to create a shared pot of tokens that cryptocurrency traders can sell to or buy from, rather than waiting to find a trader who wants to buy what they’re selling at the price they want.

Goldman Sachs’ crypto trading desk expands to Ether

After being critical of cryptocurrencies, the Wall Street investment bank officially embraced Bitcoin earlier this year.

After Central Bank Devalues Naira by 5% Finance Minister Attributes Drop to ‘Market Forces’

Nigerian Finance Minister Zainab Ahmed has denied widespread reports that the Central Bank of Nigeria (CBN) had sanctioned the devaluation of the local currency sometime in May 2021.

Central American Financial Institution to Help El Salvador Implement its Bitcoin Legalization 

The Central American Bank of Economic Integration (CABEI) said it will work with El Salvador to implement BTC as its legal tender.

El Salvador Bitcoin Adoption Will Get Help From Central American Development Bank

The Central American Bank for Economic Integration will assist El Salvador with technical support.

China debuts blockchain-based digital yuan salary payments in Xiong’an

China reportedly implemented the country’s first blockchain-powered digital yuan transactions in the Xiong’an New Area. China is progressing with its central bank digital currency (CBDC) tests, debuting blockchain-enabled salary payments in the digital yuan.According to the official website of the Xiong’an New Area, the People’s Bank of China (PBoC) has successfully completed the nation’s first on-chain wage payouts in the digital yuan.Announcing the news on Saturday, Xiong’an authorities said that the pilot involved guidance and support from the Shijiazhuang-based PBoC branch, the Bank of China Hebei Xiong’an branch, as well as the National Development and Reform Commission.The new CBDC pilot used a blockchain-based payment platform to distribute salaries to workers on spring afforestation projects in Xiong’an. Engineering subcontractors made payments directly to builders’ digital wallets from a public wallet and recorded the relevant data on a blockchain.According to the announcement, blockchain-based salary payouts significantly simplified the wage payout process.

RNS Solutions & Trustedchain developing Blockchain based FinLit Platform for Islamic Development Bank

RNS Solutions Pte Ltd., the leading blockchain software development company from Pakistan, Korea, and Singapore this week announced a formidable partnership with the ICD-Islamic Development Bank GroupThe post RNS Solutions & Trustedchain developing Blockchain based FinLit Platform for Islamic Development Bank appeared first on AMBCrypto.

Central Bank of Tanzania Should Strive for Crypto Adoption, Says the Country’s President

Tanzania's president - Samia Suluhu Hassan - urged the country's Central Bank to prepare for potential crypto adoption.

RNS Solutions & Trustedchain Develop FinLit Platform for Islamic Bank

Disclaimer: The text below is a press release that was not written by Cryptonews.com. Pakistan, June 10, 2021: RNS Solutions Pte Ltd., the leading blockchain software development company from Pakistan, Korea, and Singapore this week announced a formidable partnership with the ICD-Islamic Development Bank Group, a multilateral development bank that promotes social and

RNS Solutions & Trustedchain developing FinLit Platform for Islamic Development Bank

[PRESS RELEASE – Please Read Disclaimer] Pakistan, June 10, 2021: RNS Solutions Pte Ltd., the leading blockchain software development company from Pakistan, Korea, and Singapore this week announced a formidable partnership with the ICD-Islamic Development Bank Group, a multilateral development bank that promotes social and economic development in member countries, and Trustedchain software development & […]