I Feel Underinvested in Bitcoin: PayPal Co-Founder Peter Thiel Says

According to Peter Thiel, bitcoin's rally might head further north, but this means that central banks are at a "complete bankruptcy moment."

PayPal co-founder Peter Thiel says he ‘underinvested’ in Bitcoin

Billionaire Peter Thiel shared concerns that investing in Bitcoin is already a “known secret.” As Bitcoin (BTC) marked a new all-time high above $67,000, PayPal co-founder and billionaire venture capitalist Peter Thiel said he should have bought more Bitcoin.Thiel spoke of cryptocurrencies, central banks and artificial intelligence (AI) during an interview in Miami hosted by policy think tank Lincoln Network, Bloomberg reported Oct.

Do central banks have reason to be afraid of Bitcoin or 'cryptoization'

Over the past few years, the general public (or investors per se) are getting more and more familiar with the idea of cryptocurrencies.

Portfolio rebalancing through DeFi must be simplified to see adoption

The decentralized finance industry is growing rapidly, and it's time for portfolio risk management to keep up with innovations. Central banks and key leaders are increasingly raising further alarms for rising inflation, causing spirals of doubt across the world.

Search for fiat alternative ‘perfectly reasonable,’ says StanChart CEO

The CEO of the British bank believes stablecoins, CBDCs and even NFTs will likely outgrow cryptocurrencies. Bitcoin (BTC) and other cryptocurrencies have a permanent role in financial markets, but other digital assets like central bank digital currencies (CBDCs) or nonfungible tokens (NFTs) could likely outperform crypto, according to Standard Chartered CEO Bill WintersSpeaking at a Standard Chartered conference call, Winters echoed the “crypto is here to stay” narrative and said there’s a role for non-fiat currencies given the concerns about inflation.“Broadly, we’ve gone through a long period of low inflation, and we’ve got central banks experimenting in uncharted territory with very, very loose monetary policy,” Winters said, adding:“It’s perfectly reasonable for people to want an alternative to fiat currency.”While the debate over fully decentralized cryptocurrencies are more beneficial than administered crypto continues, Winters believes the market will have the final say.

Does Russia have 'plans to change anything' when it comes to crypto-trading

Bitcoin has the potential to undermine the control of central banks over the money supply.

IMF Warns of Higher Inflation, But Central Banks Shouldn’t Tighten Yet

said today.  According to their new report, central banks around the world should “generally look through” the currently elevated inflation numbers, and not tighten monetary policy “until there is more clarity on the underlying price dynamics.”The recommendation from the organ...

IMF Head Says Central Bank Digital Currencies Are Reliable, Hard to Think of Bitcoin as Money

Digital currencies backed by central banks are the most reliable form of digital money, according to IMF managing director Kristalina Georgieva.

IMF managing director: 110 countries are 'at some stage' of CBDC development

Kristalina Georgieva said that stablecoins "fill the digital gap in privately issued money," but labeled Bitcoin and other cryptocurrencies as assets rather than a form of money. International Monetary Fund, or IMF, managing director Kristalina Georgieva said more than half of all central banks in the world are exploring how to launch digital currencies.Speaking at a virtual conference hosted by Bocconi University on Oct.

BIS study hints at public-private partnership to manage digital assets

The Bank for International Settlements, in its September report, has said private digital assets could co-exist with potential digital currencies operated by central banks.

Central Banks Should Allow Salaries, Social Transfers to be Paid in CBDCs - BIS

ivate innovation, all the while preserving public trust.The BIS worked on the papers in cooperation with the Bank of Canada, Bank of England, Bank of Japan, European Central Bank, US Federal Reserve, Sweden’s Sveriges Riksbank, and the Swiss National Bank.

‘Faster and Cheaper Cross-Border Transfers’ — Banking Report Led by BIS Highlights the Benefits of Cryptocurrency

According to a report published by the Bank of International Settlements (BIS) and a group of central banks, digital currencies can lead to faster settlement and cheaper transfers.

CBDCs could cut cross border remittance costs by half: BIS report

The BIS report based on a multi-CBDC pilot also showed significant improvements in international remittance speed. The Bank for International Settlements (BIS) has published a report touting the benefits of central bank digital currencies (CBDCs), especially in reducing the cost of cross-border payments.According to the report titled: "Inthanon-LionRock to mBridge: Building a multi CBDC platform for international payments" published on Tuesday, CBDCs can reduce the transaction throughput of cross-border payments from between three to five business days to only a few seconds.The stated claim is part of the conclusions drawn from phase two of Project Inthanon-LionRock involving the central banks of China, the United Arab Emirates and the Hong Kong Monetary Authority.“The prototype demonstrates a substantial increase in cross-border transfer speed from days to seconds, as well as the potential to reduce several of the core cost components of correspondent banking,” the report stated.As stated in the report, a PwC estimate based on the results of the phase two prototype showed a possible 50% reduction in the cost of cross-border payments.The BIS report also stated that the speed and cost benefits of CBDCs can even be more significant among jurisdictions where robust correspondent banking relationships are non-existent.With phase two completed, the project now dubbed mCBDC Bridge will move into the third phase which will involve further pilot studies as well as the creation of a possible roadmap for large-scale testing.Related: IMF, World Bank and BIS champion central bank digital currencies at G20The mCBDC Bridge project is one of many multi-central bank digital currency projects as the emphasis appears to be shifting towards more collaboration in the area of national digital currencies.As previously reported by Cointelegraph, Australia, Malaysia, Singapore, and South Africa recently announced a joint CBDC initiative.These collaborative efforts a

Bitcoin Price to Face Another Test as Central Banks Eye Rate Hikes

t central bank in a Western developed nation to do so following the onset of the pandemic, Norway’s central bank, the Norges Bank, this week hiked its interest rate from 0% to 0.25%, citing a need to “begin a gradual normalization of the policy rate” as the economy is “normalizing.” “The...

Central Banks Look To Two-Tier Retail CBDC Model Amid Disruption Fears

ral-banks-seek-to-balance-innovation-and-disruption-when--PBC_1303486">report by international risk assessment firm Moody’s.  “Based on existing and proposed pilot schemes, CBDC development is being done in conjunction with existing financial market infrastructure, the two-tier ...

Canada’s ‘Mad Max’ Supports Bitcoin — Says ‘I Hate How Central Banks Are Destroying Our Money and Economy’

Maxime Bernier, a former cabinet minister nicknamed “Mad Max” and the leader of the People’s Party of Canada (PPC), says he supports bitcoin and cryptocurrencies.

BIS Asks Central Banks to Urgently Develop CBDCs to Compete With Crypto Assets

The head of the Bank of International Settlements (BIS) Innovation Hub, Benoît Cœuré, has urged central banks to act now on central bank digital currencies (CBDCs) to compete with initiatives in the private sector, including cryptocurrencies.

‘Urgent’ Solution Needed As Crypto Challenges Traditional Banking Models, Says Central Banker

An executive at the Bank for International Settlements (BIS) says central banks must act with a sense of urgency as crypto assets are poised to challenge traditional banking models.

CBDC Race, Blockdaemon Unicorn, Harmony & Algorand Pour Millions + More News

lity. "The time has passed for central banks to get going.

Here's what Sweden, Mexico's central banks are saying about Bitcoin today

Countries around the world are either accepting Bitcoin's existence and utility or adopting it as one of their own.

As Bitcoin debuts in El Salvador, Honduras and Guatemala study CBDCs

Honduras and Guatemala are studying central bank digital currencies and the value they could bring to their respective monetary systems. Two Central American countries, Honduras and Guatemala, are taking a cue from their common neighbor’s adoption of Bitcoin (BTC), but they are taking a very different road. Instead of embracing an existing cryptocurrency as a legal tender, like what El Salvador did, the central banks of Honduras and Guatemala are currently studying central bank digital currencies or CBDCs.Following the approval of the board of directors, the Central Bank of Honduras kicked off a study “to determine the feasibility of conducting a pilot test issuing its own digital money or a central bank digital currency,” according to Honduras central bank president Wilfredo Cerrato’s remarks at a forum event in Tegucigalpa.He said that the Central American Monetary Council or Consejo Monetario Centroamericano, the highest monetary authority in the region, should address the adoption of digital currencies.In the northwestern corner of the region, the CBDC even has a name.

Australia, Singapore, Malaysia, and South Africa to Trial Cross-Border Digital Currency Payments

The central banks of Australia, Singapore, Malaysia, and the Republic of South Africa have set out to test the use of state-issued digital currencies in cross-border payments.

Four Countries to Conduct Cross Border CBDC Payment Trials

The Bank for International Settlements (BIS) has joined forces with the central banks of South Africa, Malaysia, Singapore, and Australia to kick start a project dubbed Dunbar aimed at testing the use CBDCs in cross border payments.

Australia, Singapore, Malaysia, and South Africa to Conduct a Mutual CBDC Project: Report

Four central banks - those of Australia, Singapore, Malaysia, and South Africa - would conduct a cross-border transactions trial using CBDCs.

BIS Teases More CBDC Interoperability Progress in New Four-nation Pilot

Source: Adobe/Сергей Шиманович The Bank for International Settlements (BIS) is set to step up its central bank digital currency (CBDC) pilot program in a cross-border initiative aimed at testing inter-central bank settlements using multiple CBDCs. The plan is the brainchild of the BIS’s Innovation Hub, which will team up with the four central banks in the Asia-Oceania region,

Australia, Singapore, Malaysia and South Africa launch joint CBDC pilot

The joint initiative will prototype shared DLT platforms enabling institutions to settle cross-border transactions using central bank-issued digital currencies. The central banks of Australia, Singapore, Malaysia and South Africa have announced a joint initiative to trial international settlements using central bank digital currencies (CBDCs).The initiative, dubbed Project Dunbar, will prototype shared platforms enabling direct transfers between institutions using digital currencies issued by multiple central banks.

Central Bank of Nigeria partners with fintech firm to execute its CBDC rollout

Over 85 percent of Central Banks are now considering adopting digital currencies in their respective  countries.

Here's why this country's central bank thinks CBDCs are 'not necessary'

While most central banks around the world are moving to curb cryptocurrencies and replace them with a central bank digital currency [CBDC], Costa Rica has different plans.

Three Major Central Banks Play a Pivotal Role in Bitcoin Adoption

Market analyst Holger Zschaepitz believes that the big three central banks, namely the Federal Reserve (Fed), the Bank of Japan (BoJ), and the European Central Bank (ECB), have been instrumental in Bitcoin adoption.

Satoshi Versus the ‘Infrastructure Bill’ — Political Permission Not Required

When Satoshi Nakamoto released the Bitcoin white paper in October 2008, it likely wasn’t with the idea that governments and central banks needed to recognize, adopt, and regulate Bitcoin for everyone’s benefit.

Bank of Ghana to pilot CBDC with German securities printing firm G+D

Originally specialized in currency and securities printing, Giesecke+Devrient has been increasingly working with central banks like the Bank of Thailand in piloting CBDCs. The Bank of Ghana (BoG) is making another step towards the development of a central bank digital currency (CBDC) by partnering with a German currency technology provider.The BoG officially announced Wednesday that it signed an agreement with German banknote and securities printing company Giesecke+Devrient (G+D) to pilot a retail CBDC in Ghana, West Africa.As part of the agreement, G+D will provide its proprietary CBDC solution known as Filia to pilot the issuance of a digital form of Ghana’s national currency, the cedi.

Debunking the 4 Big Bitcoin Myths Promoted By Central Banks in 2021

It's 2021 and central bankers still can't figure out what to make of Bitcoin (BTC).

UAE Central Bank Unveils Plan to Launch Digital Currency

The Central Bank of the United Arab Emirates has unveiled its plan to launch a digital currency as part of its 2023-2026 strategy to become one of the world’s top 10 central banks.

Softbank-owned LINE Goes Open-Source To Help Central Banks Mint CBDCs

Line Plus wants its platform to meet the demands of different central banks.

CBDC Shilling and Bitcoin Bashing Might Reach the G20 Level

With a rising number of central bank digital currency (CBDC) projects underway across the world, central banks have increasingly started criticizing decentralized cryptocurrencies, such as bitcoin (BTC).

France and Singapore pilot cross-border CBDC transactions

The central banks of France and Singapore are working on a digital currency interoperability system supporting multiple global CBDCs.

Chinese Central Bank Opts For Usual CBDC Rhetoric In Bashing Bitcoin, Stablecoins

Source: Adobe/Prostock-studio Similarly to other central banks, China’s central bank has taken another swipe at bitcoin (BTC), stablecoins and “private digital currencies” – claiming that they have inherent potential “risks that threaten financial security.” At a recent press conference, Fan Yifei, the Deputy Governor of the central People’s Bank of China (PBoC) since 2015,

Central Banks Doubt Cryptocurrency Limited Role in Reserve Operations

A survey conducted by UBS investment bank shows that central banks do not expect a cryptocurrency to replace gold as a digital reserve asset.

Some Central Bankers Show Interest in Bitcoin; Inflation Fears Mount

A survey of 30 central banks brought somewhat surprising results as some bankers showed signs of openness to cryptoassets such as bitcoin (BTC).

Gold Spikes Higher as Fed’s Minutes Report Looms, Central Bank Bullion Purchases Begin to Swell

After a long break, monthly purchasing data shows that central banks are buying gold again.

Avalanche founder Emin Gün Sirer ‘quite bullish' on crypto market prospects

Despite the current market downturn, the Cornell University computer scientist and professor says he is bullish about crypto. Emin Gün Sirer, the creator of the Avalanche blockchain protocol, has said the current decline in crypto prices has not dampened his enthusiasm about the future of the market in general.Speaking to Cointelegraph China, Sirer drew from his “unique vantage point” to offer some of the behind-the-scenes goings-on concerning the growing level of interest in crypto exposure among entities from outside the industry.According to Sirer, everyone from politicians to central banks and even hedge funds have been inquiring about crypto over the last year.

'Digital Yen could reshape changes in Japan's financial industry'

Several countries are discussing the adoption of digital currencies to be issued by their respective central banks recently, as cryptocurrencies continued to find a place in their financial systems.

Crypto ownership has nothing to do with distrust in fiat: BIS study

Cryptocurrency owners are “generally more educated than the average,” according to a new study by the Bank for International Settlements. The Bank for International Settlements (BIS), a global financial institution owned by some of the world’s biggest central banks, is trying to dispel the theory that cryptocurrency ownership is linked to distrust in traditional finance.On Thursday, the BIS published a paper on the socioeconomic drivers of cryptocurrency investments in the United States.

The Rise of Crypto Poses Important Questions for Central Banks: NY Fed President

John Williams, the head of the New York Federal Reserve, urged central banks to keep in mind the emergence of cryptocurrencies before issuing their own CBDCs.

Foreign CBDCs and stablecoins unlikely to threaten US dollar, says Fed vice chair

Though Randal Quarles said there was a "legitimate and strong regulatory interest in how stablecoins are constructed and managed," a US dollar-pegged coin could help provide support for its fiat counterpart. Randal Quarles, vice chair for supervision of the Federal Reserve Board of Governors, said he believed neither dollar-pegged stablecoins nor digital currencies issued by foreign central banks are likely major causes for concern for the US dollar.In a prepared statement for the Annual Utah Bankers Association Convention Monday, Quarles said that foreign currencies — whether fiat or digital — would be unlikely to challenge the US dollar’s role in the global economy.

New York Fed president says crypto poses challenging questions for central banks

John Williams responded to a presentation from Mark Carney, the former head of the Bank of Canada and Bank of England, about the potential for issuing central bank digital currencies.

The Bank for International Settlements Gives CBDCs Full Backing

The Bank for International Settlements (BIS) announced its full support for developing central bank digital currencies (CBDCs) in pursuing financial and monetary stability through international cooperation with the mandate and support by central banks.

BIS optimistic about central bank digital currencies

The central bank of central banks says CBDCs are necessary for maintaining the status quo of the legacy financial system. The Bank for International Settlements (BIS) has reaffirmed its support for central bank digital currencies (CBDCs).In a report titled “CBDCs: an opportunity for the monetary system,” BIS researchers argued that sovereign digital currencies offered “the unique advantages of central bank money.”According to the report, CBDCs are the embodiment of digital money designed for the public good and are best suited for interfacing with instant retail payment systems.Indeed, several central banks around the world are experimenting with retail CBDCs with many of these projects examining ways to float a digital companion to their respective fiat currencies.Detailing a probable retail CBDC architecture, the BIS report put forward the following: “CBDCs are best designed as part of a two-tier system, where the central bank and the private sector each play their respective role,” adding:“A logical step in their design is to delegate the majority of operational tasks and consumer-facing activities to commercial banks and non-bank PSPs that provide retail services on a competitive level playing field.

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

Swiss, French Central Banks to Trial Wholesale CBDC Settlements With BIS and Private Sector

The central banks of Switzerland and France are joining hands with the Bank for International Settlements to test wholesale central bank digital currencies in cross-border transactions.

Bitcoin part of highest risk category in Basel's new bank capital plan

The Basel Committee on Banking Supervision proposed tough requirements for banks that want to hold cryptocurrencies like Bitcoin. The Basel Committee on Banking Supervision (BCBS), a global committee of banking supervisors and central banks, has proposed new requirements for banks that want to hold cryptocurrencies like Bitcoin (BTC).In a consultation paper published Thursday, the committee provided preliminary proposals for the prudential treatment of crypto exposure by banks.The paper built on the contents of the committee’s 2019 discussion paper and responses received from various stakeholders and international industry figures.Crypto’s perceived volatility and potential for illicit use led the BCBS to recommend a 1,250% risk weight to Bitcoin.

BIS joins France and Switzerland's central banks on cross-border CBDC project

The central bank digital currency project will test cross-border settlement between French and Swiss fiat currencies. The Bank of France and the Swiss National Bank are teaming up with the Bank for International Settlements’ Innovation Hub to test a wholesale central bank digital currency (CBDC) system dubbed “Project Jura.”According to a release by the Bank of France on Thursday, the Project Jura pilot study will also draw participation from a private consortium led by global service company Accenture.

The ECB Warns Financial Stability Risks If Central Banks Fails to Issue Digital Currencies

The European Central Bank (ECB) warns that nations who decide not to issue CBDCs may encounter risks to their monetary autonomy and financial systems.

Cardano’s Charles Hoskinson: Central Banks Will Vanish and Crypto Will Replace Them

Cardano's creator - Charles Hoskinson - asserted that the cryptocurrency industry is the antidote to the 'corrupt traditional financial system.'

Here’s Why Central Banks Could Add Bitcoin and Crypto to Their Balance Sheets, According to Cathie Wood

Cathie Wood, founder of global asset management company ARK Invest, says she sees a scenario where central banks could start accumulating Bitcoin and other crypto assets.

Ripple Hiring in Push To Bring XRP Ledger to Central Banks and DeFi

Ripple is headhunting for a recruit who can take charge of its efforts to bring the XRP ledger to central banks and to the emerging world of decentralized finance (DeFi).

Big tech, not cryptocurrency, is the real threat to central banks’ autonomy, Danish central bank governor says

Though Danmarks Nationalbank's governor seems tempted to ignore cryptocurrencies, other banks in the country continue to launch new services based on crypto. Crypto trading volumes continue to increase, but several countries’ central banks are keen to ignore it, with Denmark being the latest to join the “crypto is negligible” narrative.

Bitcoin Is Speculative Fad, Says The Government of Denmark’s Central Bank

Bitcoin is not a threat to central banks and the current financial system said the governor of Danmarks Nationalbank - Lars Rohde.

South Africa's central bank begins preliminary study for retail CBDC

The South African Reserve Bank has begun exploratory studies on central bank digital currencies. South Africa is the latest country to begin exploring the possibility of creating its own sovereign digital currency.According to a release issued on Tuesday, the South African Reserve Bank has begun preliminary feasibility studies about the “desirability and appropriateness” of a retail central bank digital currency.As part of its announcement, the SARB defined a retail CBDC as a cash-complimentary sovereign digital currency issued by the central bank suitable for electronic payments.“The objective of the feasibility study is to consider how the issuance of a general-purpose CBDC will feed into the SARB’s policy position and mandate,” South Africa’s central bank stated in its announcement.According to the SARB, the preliminary study will focus on issues surrounding a potential CBDC issuance for retail use in South Africa:“The feasibility study will include practical experimentation across different emerging technology platforms, taking into account a variety of factors, including policy, regulatory, security and risk management implications.”South Africa’s CBDC study is expected to last until 2022 and will potentially align with the existing institutional digital payments pilot under the aegis of “Project Khokha.”Like other central banks currently studying CBDCs, the SARB also stated that its current exploratory studies were in no way an indication of plans to issue a digital rand in the future.Back in June 2018, the SARB launched a pilot test for Project Khokha — the country’s tokenized fiat interbank payment system.

‘Chinese Invented Paper Money and They Will End It’- Brazil’s Far-Left Praises Digital Yuan  

Digital currencies, those issued by central banks in particular, have been commended for their “disruptive nature.” The praise comes from a publication associated with one of Brazil’s far-left parties.

USD 10K+ Crypto Transfers & IRS, Central Banks on Crypto Volatility + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. ____ Tax news The US Treasury said the Biden administration’s proposal to strengthen tax compliance includes a requirement for transfers of at least USD 10,000 of crypto to be reported to the Internal Revenue Service,

State-backed digital currencies can disrupt financial systems: Report

While CBDCs could help central banks address the decline in cash payments, some risk factors remain. Central bank digital currencies, or CBDCs, could pose a threat to financial systems if related risks are not managed, Big Three credit agency Fitch Ratings has warned.Fitch Ratings released a report on Monday entitled “Central Bank Digital Currencies: Opportunities, Risk and Disruption,” which discussed the major trade-offs between risks and benefits associated with CBDCs.Fitch Ratings stated that the key benefits of a retail CBDC lie in its potential ability to expand government-backed cashless payments in an effort to keep up with the wider digitalization of society.

As long as Bitcoin was viewed THIS way, 'govts and central banks won't eliminate or outlaw it'

Most of the crypto-community believes that Bitcoin and other digital assets, to some degree, pose a threat to central banks, governments, and treasuries.

National Bank of Georgia Considers Launching Its Own Central Bank Digital Currency

The National Bank of Georgia believes that the CBDCs have become essential for the financial ecosystem to improve financial inclusion and enhance domestic payment systems.

Mastercard Investing in Smart Contract Tech to Build on State-Backed Digital Currencies

It’s still early days, but Mastercard is examining how smart contracts can help central banks develop digital cash.

Central Banks Will Need To Rethink Monetary Policies - PayPal CEO

In ten years, the world will see a major decline in the use of cash, with all forms of payment collapsing into mobile devices, catalyzing the advent of digital currencies and forcing central banks to rethink their monetary policies, according to Dan Schulman, CEO of online payments giant PayPal. Schulman predicts that the next five to 10 years will introduce more

Decentralization is the final frontier for CBDCs

Decentralized CBDCs will most likely pique the interest of the masses much more than their centralized counterparts. As central bank digital currencies, or CBDCs, continue to garner mainstream traction across the global financial landscape in recent years, almost all central banks are actively researching the benefits and risks of offering a digital currency to the public. In its most basic sense, a CBDC is a digital form of fiat money, backed by a suitable amount of monetary reserves like gold or foreign currency reserves.

Bahamas Ranks First as The Country with Most Advanced Retail CBDC Development

The Bahamas narrowly beats Cambodia because its CBDC is available to all citizens.

70% of Central Banks Are Nowhere Near Launching CBDCs: PwC Report

Almost 90% of central banks developing CBDCs are using blockchain technology but the majority are nowhere near launching the end product.

A nightmare on Stable Street: Centralized stablecoins may be doomed

Central banks are paying very close attention to stablecoins, seeking to control them — and decentralization may be the solution. Over the last couple of years, we have seen a lot of interest from central banks and governments in the stablecoin market.

Fidelity Says Bitcoin Adoption Will Keep Accelerating — ‘We’ve Reached a Tipping Point’

Fidelity’s head of digital assets says that bitcoin adoption will continue “at an accelerated pace,” noting that “we’ve reached a tipping point.” He explained that investors are increasingly drawn to bitcoin “Particularly, in an environment where we’ve seen unprecedented monetary and fiscal stimulus from central banks and governments in response to the pandemic.” The Tipping […]

Japanese Central Banks Begins Study for Digital Yen

Japan’s central bank starts a slow march toward its own central bank digital currency.

African Migrants Are Turning to Cryptocurrency Platforms for ‘Low-Fee Remittances’

As central banks on the African continent fight to keep cryptocurrencies from going mainstream, many more migrant workers are increasingly turning to money-sending platforms that use cryptocurrencies when moving funds across borders.

Joe Biden's USD 1.9T Stimulus Won't Reignite World Economy

Source: Adobe/Ольга Копьёва Michael Kitson, University Senior Lecturer in International Macroeconomics, Cambridge Judge Business School. _______ The economic orthodoxy has long been that governments should try to balance their books and leave all the heavy lifting in managing their economies to central banks.

Central Banks Focus On Financial Inclusion As Cryptos Get Traction

Central banks are seemingly looking to steal the show from decentralized cryptocurrencies as they are also aiming to increase financial inclusion by issuing central bank digital currencies (CBDCs).

Microsoft president says fintechs should leave currency to central banks

Microsoft president Brad Smith is not keen on the idea of technology companies issuing private stablecoins. For Brad Smith, president of the Microsoft Corporation, fintech firms have no business issuing private digital currencies. According to Bloomberg, Smith gave these remarks while speaking at an online conference organized by the Bank for International Settlements.

BOJ Governor: Japan Should Prepare "Thoroughly" for the Issuance of its Digital Currency

Haruhiko Kuroda, the Bank of Japan (BOJ) governor, has highlighted the need for the nation’s central bank to prepare thoroughly for the rollout of its digital currency with initial experiments expected for this spring.

1.2 Billion People Live Under Double-Digit Inflation, ‘Many Have Found Escape in Bitcoin’ Says HRF’s Alex Gladstein

While central banks are focusing on creating more stimulus and economists expect inflation in the US to rise, a number of other countries are suffering from considerable inflation right now.

Bitcoin, Ethereum, XRP: Which shows potential for central banks to host CBDCs?

In a new review, CPA Australia attempted to provide an overview of Bitcoin, Ethereum, and Ripple’s XRP, in terms of central banks’ opinion of the networks being able to host CBDCs.  The report The post Bitcoin, Ethereum, XRP: Which shows potential for central banks to host CBDCs? appeared first on AMBCrypto.

PayPal Acquires Crypto Security Firm Curv for Nearly $200M

PayPal's purchase of Curv is part of the company's larger crypto ambitions, which include working with central banks on digital currency.

Hosting a CBDC? Only one of Bitcoin, Ethereum or XRP can do it, says report

Not all cryptocurrencies have the attributes desired by central banks for hosting CBDCs. A 44-page report commissioned by CPA Australia delves into the status of Central Bank Digital Currency development worldwide, while exploring viable blockchain candidates for hosting CBDCs in the coming years. The report offers up evaluations of the three most transacted cryptocurrencies in Bitcoin (BTC), Ethereum (ETH) and XRP (XRP), and analyses their suitability (or lack thereof) for use by central banks.

Ripple Testing Private Version of XRP Ledger To Power Central Bank Digital Currencies

Ripple is piloting a private version of the XRP Ledger that’s designed to provide central banks a solution for powering digital currencies.

Bitcoin on Back Foot as Focus Turns to Powell Speech; What to Expect?

Bitcoin dropped during Asia-Pacific and European trade Thursday as rising bond yields prompted concerns that central banks may begin tightening monetary policies sooner-than-expected.

Ripple launches pilot private ledger for central banks' CBDC

Payment protocol firm Ripple announced a pilot project that seeks to provide a “private version” of its XRP ledger for central banks that can use the technology to issue and manage digital currenc The post Ripple launches pilot private ledger for central banks' CBDC appeared first on AMBCrypto.

Harvard Professor Kenneth Rogoff Warns Central Banks Will Never Allow Bitcoin to Go Mainstream

Harvard Professor of Economics and former chief economist at the International Monetary Fund (IMF) Kenneth Rogoff says that central banks won’t allow bitcoin and other cryptocurrencies to become mainstream.

How is this central bank policy making Bitcoin more attractive?

Panic has been evident across global markets and global banks for a while now, with central banks around the world escalating efforts to combat this by pledging to buy more bonds.

3 types of bitcoin investors that ‘should be concerning to central banks’

With 106 million global crypto users as of January 2021 and a crypto population that has now surpassed 100 million, a financial expert noted that central banks must now be wary of certain crypto inves The post 3 types of bitcoin investors that ‘should be concerning to central banks’ appeared first on AMBCrypto.

Mohamed El-Erian: Bitcoin 'Captures 3 Things Central Banks Should Be Concerned About'

Allianz's chief economic adviser sees three types of investors flocking to Bitcoin—and says all three should be concerning to central banks.

Indian Central Bank Playing by Same Anti-Crypto, Pro-CBDC Rules as China, EU

The head of the Reserve Bank of India (RBI), the subcontinent’s central bank, has again indicated that the government might seek to enact a crypto crackdown – while attempting to gazump the crypto sector by releasing a digital rupee. In an interview with CNBC-TV18, RBI Governor Shaktikanta Das appeared to take the same kind of tack that central banks

Ripple Executive Says Company Working With Central Banks To Develop Digital Assets

The vice president of RippleX James Wallis says Ripple is currently working with central banks on developing digital currencies.

ECB President Christine Lagarde Says ‘It’s out of the Question’ That Central Banks Would Hold Bitcoin

The president of the European Central Bank (ECB), Christine Lagarde, has clarified whether central banks will start holding bitcoin now that a growing number of companies, like Tesla, are embracing the cryptocurrency.

ECB's Lagarde says central banks holding Bitcoin is 'out of the question'

The ECB President gives the impression that central banks will avoided copying institutions in hoarding cryptocurrency. The head of the European Central Bank (ECB) thinks that central banks worldwide will not be holding Bitcoin (BTC) any time soon. In a conference call with The Economist on Feb.

ECB President Says Digital Euro Coming, Addresses Potential for Central Banks To Own Bitcoin

European Central Bank (ECB) president Christine Lagarde has confirmed a digital euro is in development.

ECB’s Christine Lagarde: Central Banks Holding Bitcoin is Out of the Question

It's "very unlikely" that central banks will ever hold bitcoin or other cryptocurrencies, said the President of the European Central Bank, Christine Lagarde.

Bitcoin Will Not Likely Be Held by Central Banks in the Future, Says ECB President Christine Lagarde

Christine Lagarde, the President of the European Central Bank, has once again made her stance on Bitcoin clear.

'Very Unlikely' Central Banks Will Hold Bitcoin: ECB President

European Central Bank President Christine Lagarde has not changed her mind about Bitcoin—an asset she previously described as “highly speculative.”

Bitcoin Trading Should Be Banned by Central Banks, Says Former British Member of Parliament

Former Member of the British Parliament Nick Boles appears to disfavour Bitcoin, saying that the central banks should monitor the cryptocurrency’s trades.

Former British MP says central banks should ban Bitcoin

Nick Boles, who served as a Member of Parliament from 2010 to 2019, believes the world would be better off without Bitcoin.

Are central banks' policies behind Bitcoin's latest rally?

US President Joe Biden's administration is looking forward to fast-track its coronavirus relief plan with a third round of stimulus checks worth $1,400 for each US citizen.

Bitcoin will likely reach $60K in 2021, says Investing.com analyst

63%of 800 respondents in the UK are planning to buy Bitcoin in 2021, according to a new survey by Investing.com. Bitcoin (BTC) is likely to hit $60,000 in 2021 amid the growing mainstream adoption, according to an analyst at major financial publication Investing.com. Jesse Cohen, a senior financial analyst at Investing.com, predicted that Bitcoin will likely reach a $60,000 level in the first half of 2021. According to Cohen, Bitcoin’s growth in 2021 will be fueled by support from institutional investors combined with the “flush of ultra-cheap money being pumped into the global financial system” by global central banks like the United States’ Federal Reserve: “After a record-breaking year in 2020 that saw it jump more than 300%, Bitcoin looks to stay strong in 2021 as more retail — and big-name institutional buyers — enter the market [...] For those already in, the strategy in place remains to HODL [...] First-time novice investors have found their way into many risk-perceived assets, including Bitcoin.” Cohen’s remarks come in conjunction with a new crypto-related survey by Investing.com, according to which 63% of respondents in the United Kingdom are planning to purchase some Bitcoin in 2021.