What CBDCs Mean for the Future of DeFi and Stablecoins

Over the last year, the narrative surrounding central bank digital currencies (CBDCs) has advanced considerably.

Crypto Mass Adoption: Bringing Digital Currencies Into Everyday Life

As the cryptocurrency market cap stands at a staggering $2.53 trillion, it is no more just another alternative financial system.

Australia Needs Regulations to Facilitate Crypto Business, Senate Committee Reports

A Senate committee in Australia has made a number of proposals to address the lack of proper regulations for the cryptocurrency space.

Russia Considers Partially Replacing Dollar Reserves With Digital Assets in Future

Amid ongoing sanctions, the government of Russia has been working to limit the country’s dependence on the US dollar.

US Treasury Department Warns Digital Currencies Are Thwarting Sanctions Efforts

The US Treasury Department is contending that cryptocurrencies stunt sanctions efforts and threaten national security, foreign policy, and economic interests.

Digital Currencies Impede US Treasury Sanction Efforts, Report says

The United States Treasury Department revealed that digital currencies pose a critical impediment to sanctions strategy and policies.

France Central Commission Proceeds CBDC-Backed Treasury Bond Trials

The Central Bank of France commissioned a trial involving the settlement of treasury bonds by using Central Bank Digital Currencies (CBDCs).

US Treasury says it must 'modernize and adapt' to digital currencies

"Digital assets and payments systems could harm the efficacy of our sanctions” if left unchecked, the Treasury said. The United States Department of the Treasury has issued a review on sanctions and suggested the government do more to develop its infrastructure and policies in regards to digital assets.In an Oct.

‘Thank God for Bitcoin,’ Cynthia Lummis says on US debt limit raise

Bitcoin should be there to allow people to save in the event of governments fail, Senator Cynthia Lummis said. Amid the United States President Joe Biden signing legislation to raise the government’s debt limit to $28.9 trillion, Senator Cynthia Lummis said that Bitcoin (BTC) is a blessing of God.Republican Senator Lummis gave a speech to the Senate on Thursday, providing her perspective on how digital currencies like Bitcoin could potentially help countries like the US address the looming crisis when the state runs out of cash.Lummis said that one of the reasons she became so interested in non-fiat digital currencies like Bitcoin is because they are not issued by the government and thus aren’t beholden to the debts that are “run up by governments” such as the United States.As cryptocurrencies are not beholden to governments and political elections, they should grow and be there, allowing people to save in the event if governments fail, Lummis argued:“Time and again, presidents of both parties have run up the debt irresponsibly, with no plan to address it.

Four Steps Banks Need To Take To Prepare For Crypto, CBDC Disruption

The world’s banks should brace themselves for the new era of decentralized finance (DeFi) by preparing the necessary technology to maintain and exchange cryptoassets and central bank digital currencies (CBDCs), according to a recent report by blockchain company Cypherium and the Boston Consulting Group (BCG).

G7 Finance Ministers and Bankers Adopt Guidelines for Central Bank Digital Currencies

Any digital currency issued by a central bank must support financial and monetary stability, finance leaders from G7 member states have insisted.

G7 leaders call for CBDCs based on 'transparency, rule of law, sound economic governance'

Countries all over the world have been gearing up to develop and launch their own central bank digital currencies (CBDC).

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.

Check Out FSB's Roadmaps for Stablecoins and CBDCs

The Financial Stability Board (FSB), a think-thank that provides financial policy recommendations to the G20, is looking to fix the “challenges that cross-border payments” experience by “examining” the use of “global stablecoin arrangements” and central bank digital currencies (CBDCs)....Read More: Check Out FSB's Roadmaps for Stablecoins and CBDCs

Edward Snowden: CBDC Is a Perversion of Cryptocurrency

The centralized nature of central bank digital currencies makes them entirely different than private digital assets, according to Edward Snowden.

Why Bitcoin, the '$1 trillion market cap asset,' needs to be acknowledged

Central Bank Digital Currencies are often classified as cryptocurrencies, but those who passionately believe in decentralization often view CBDCs with suspicion. On 7 October, Head of the Bank for The post Why Bitcoin, the '$1 trillion market cap asset,' needs to be acknowledged appeared first on AMBCrypto.

Edward Snowden Calls CBDCs ‘Cryptofascist Currency’ — ‘Closer to Being a Perversion of Cryptocurrency’

On October 9, whistleblower and privacy advocate Edward Snowden published an opinion editorial concerning central bank digital currencies (CBDCs) and claimed CBDCs are “the newest danger cresting the public horizon.” Snowden stressed that rather than being an innovation, CBDC’s are “closer to being a perversion of cryptocurrency” and a “cryptofascist currency.” Snowden Stresses CBDCs ‘Are […]

Russian Parliament to Consider Restrictions for Non-Qualified Crypto Investors

Cryptocurrency can be quite complicated for some and lawmakers in Russia think they need to contemplate restrictions for private investors.

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.

Billionaire Ken Griffin slams crypto as ‘jihadist call’ against the greenback

Hedge fund manager Ken Griffin signaled out crypto as a threat to the US dollar, and stated that "I wish all this passion and energy that went to crypto was directed towards making the United States stronger." Hedge fund billionaire Ken Griffin and former US President Donald Trump have both slammed digital currencies as a threat to the US dollar.Griffin, the founder of the $38 billion hedge fund Citadel LLC, told the Economic Club of Chicago on Oct.

Tanzania Central Bank Heeding Call to Prepare for Crypto, Economists Express Reservations

While the Bank of Tanzania (BOT) executives continue to reiterate the central bank’s willingness to heed the government’s call to prepare for cryptocurrencies, some economists insist Tanzania lacks the resources needed for it to adopt such digital currencies.

Payments Giant Visa Working on Protocol That Can Send Digital Currencies Across Different Blockchains

Global payments behemoth Visa says it is working on a protocol that can enable the sending of digital currencies across multiple blockchains.

Hong Kong issues whitepaper on 'architectures and design options' for retail CBDC

Countries all over the globe are steadily reaching new milestones in development of their own Central Bank Digital Currencies (CBDCs).

IMF: Issue CBDCs, Improve Cross-border Payments to Counter Crypto’s ‘Phenomenal Growth’

a dedicated chapter, and suggested that economic leaders fight back against crypto – by issuing their own central bank digital currencies (CBDCs).In an accompanying blog post, the IMF

Money in 2030: A future where DeFi and CBDCs can work together

In coexistence with mutual benefits, decentralized finance and central bank digital currencies will finally make money universally available worldwide. Decentralized finance (DeFi) is changing the way that people all over the world think about money faster than any previous financial revolution.

'Ethereum's a drug, Cardano is cheese' - How mainstream are cryptos really

While digital currencies like Bitcoin have seen an unprecedented degree of growth in both valuation and popularity over the past year, widespread misinformation and confusion are still prevalent.

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.

Reserve Bank of New Zealand Seeks Public Opinion on Central Bank Digital Currency

The central bank of New Zealand has lined up among monetary authorities exploring the question of issuing their own digital currencies.

Crypto Exchange Bitbay Passes Audit Under Estonia’s Tougher New Regulations

Bitbay has become a fully licensed cryptocurrency exchange in Estonia which introduced stricter rules for the industry last year.

Survey Shows 64% of Britons Believe Crypto Is ‘Not a Safe Investment,’ Respondents Think Ethereum Is a Drug, Cardano Is Cheese

While there’s a lot of hype surrounding digital currencies like bitcoin, a great number of people are still confused by the crypto economy and the myriad crypto assets that exist.

Visa working on blockchain interoperability hub for crypto payments

Visa’s new blockchain interoperability project is designed to serve as a “network of blockchain networks.” Global payments giant Visa has introduced a project that aims to be a “universal adapter” of blockchains that can connect multiple cryptocurrencies, stablecoins as well as central bank digital currencies (CBDC).According to an official announcement on Thursday, Visa’s research team is working on a “Universal Payment Channel” (UPC) initiative, a blockchain interoperability hub connecting multiple blockchain networks and enabling transfers of digital assets from different protocols and wallets.“Imagine splitting the check with your friends, when everyone at the table is using a different type of money — some using CBDC like Sweden’s eKrona, and others preferring a private stablecoin like USDC,” Visa wrote, adding that such a tool “well may be a reality” in the “not-too-distant future” with the UPC project.Developed by Visa’s research and product teams, the UPC project is designed to establish dedicated payment channels between different blockchain networks, connecting CBDC networks between countries as well as connecting CBDCs with private stablecoin networks.

Will Poland, Ukraine, Estonia lose patience with the ECB's Digital Euro investigation

Many countries have been feeling the heat of competition when it comes to developing their own central bank digital currencies.

Visa Unveils 'Layer 2' Network for Stablecoins, Central Bank Currencies

Visa revealed an ambitious play to build a universal hub for stablecoins and central bank digital currencies.

New Zealand central bank releases issue paper on digital currency

The central bank of New Zealand has outlined the major benefits of CBDC designs based on blockchain technology. The Reserve Bank of New Zealand (RBNZ) published an issue paper providing its perspective on central bank digital currencies (CBDC).The paper outlines CBDC purposes, designs, as well as the potential benefits and associated risks.

‘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.

Central Bank of Nigeria awaits eNaira launch ahead of website's success

The countdown to launch one of the world's first central bank digital currencies has begun.

Social token provider Roll raises $10M to tokenize online interaction

"NFTs represent the future of content on blockchains," said Roll co-founder and CEO Bradley Miles. Social token infrastructure provider Roll raised $10 million in Series A funding, bringing the company’s total funds raised to $12.7 million to help creators tokenize their interactions with communities. Led by IOSG Ventures, the funding round saw participation from Animoca Brands, Alchemy, Huobi Ventures, Weekend Fund, Mischief Fund, Audacity and existing investors like Galaxy Interactive, Hustle Fund, Gary Vaynerchuk, Trevor McFederies, Ryan Selkis and Balaji Srinivasan.Social tokens are blockchain-based digital currencies that have the potential to be used as the basis of a decentralized creator economy.

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

Kenyan Fintech Player: ‘Banking the Unbanked’ Is the Most Important Use Case for Digital Currencies in Africa

The year 2020 may well go down as the year when blockchain technology and cryptocurrencies, in particular, gained mainstream recognition.

ECB President Christine Lagarde Insists Cryptos Are Not Currencies, Calls Them Highly Speculative, Suspicious

The president of the European Central Bank (ECB), Christine Lagarde, says cryptos are not currencies, adding that they are “highly speculative, suspicious occasionally, and high intensity in terms of energy consumption.” She also discussed the need for stablecoin regulation and central bank digital currencies (CBDCs).

AMC adds Ether and Litecoin to year-end crypto adoption plans

The cinema operator has expanded its plans to accept crypto payments for movie tickets with the inclusion of Ether and Litecoin. AMC Entertainment will not only accept Bitcoin (BTC) payments for movie tickets by the end of 2022 but will also include other popular digital currencies in its crypto acceptance policy.Tweeting on Thursday, the company’s CEO, Adam Aron, announced plans for AMC to accept three other cryptocurrencies — Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).As previously reported by Cointelegraph, AMC initially unveiled plans to accept Bitcoin payments for online movie tickets before the end of the year.At the time, Aron said that moviegoers were eager to use crypto as payment means for tickets and concessions at AMC locations across the United States.The AMC chief also said that the company was working to finalize the necessary modalities required for accepting crypto payments.As was the case with the August announcement, Aron’s tweet revealing plans for an expanded crypto acceptance agenda also drew significant criticism from Dogecoin (DOGE) proponents for failing to include the popular “meme coin.”AMC accepting crypto is also part of a developing trend that has seen prominent retail establishments enabling support for cryptocurrency payments across the United States.Related: BTC payments coming to certain Quiznos shops, thanks to Bakkt collaborationThe cinema operator’s crypto adoption plan comes amid a resurgence in revenue figures after a difficult 2020.Amid the coronavirus lockdowns that characterized most of 2020, AMC saw dwindling revenues, with its Q2 2020 financials recording only $18.9 million.

Bringing Digital Currencies to the Masses: GoFungible’s Gamified Multichain NFT Marketplace

On May 22, 2010, Laszlo Hanyecz agreed to pay 10,000 Bitcoins for two delivered Papa John’s pizzas, essentially the first use case of a cryptocurrency.

25% of South Africans Own Cryptocurrency With Average Value of Assets Held Below $70

According to the findings of a study by KLA, a market research and data specialist firm, some 47% of South African adults are holders of cryptocurrency, with the majority of this number holding low-value investments.

Dogecoin’s Four-Legged Fall — DOGE Slides to 9th Market Cap Position Dropping 18% Last Month

The infamous dogecoin was one of the first meme-based digital currencies and it’s safe to say that the coin inspired a myriad of meme-focused or joke tokens meant to be used for fun.

Mining Is Not Banned in Ukraine and Does Not Require Licensing, Key Crypto Advisor Says

The regulatory status of cryptocurrency mining remains somewhat undetermined in Ukraine, even after the recent adoption of the law “On Virtual Assets.” However, albeit unregulated, the minting of digital coins isn’t prohibited either, according to a leading advisor on crypto matters at the Ukrainian parliament.

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.

CBDCs could lead to 'deeply negative interest rates': Wall Street Journal

Issuing CBDCs may give a central bank more power over interest rate adjustments according to a new report. According to the Wall Street Journal, central bank digital currencies (CBDCs) could actually negatively impact interest rates by giving policymakers an additional tool. A Sept.

Mastercard acquires major crypto forensics outfit CipherTrace

The global payments giant plans to incorporate the crypto intelligence project into its digital currency expansion plans. Mastercard’s focus on crypto and digital currencies appears to have taken a greater dimension given the company’s recent move.According to a release on Thursday, the global payments giant has reached an agreement to acquire CipherTrace, a blockchain intelligence firm with crypto forensics capabilities for over 900 cryptocurrencies.As part of the acquisition, Mastercard says it plans to integrate CipherTrace’s operations into its own cyber security solutions for digital assets.According to the announcement, Mastercard will combine its cyber capabilities with CipherTrace technology to differentiate its card and real-time payments architecture.

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.

Roxe hires ex-IMF economist to lead Bitcoin-backed CBDC project

Central bank digital currencies are the next frontier for blockchain.

China: CBDC race gathers steam as more companies develop e-CNY products

Countries around the world have stepped up their efforts to launch and promote their Central Bank Digital Currencies (CBDC).

Credit Agency Moody’s Looks to Hire Crypto Analyst, Strong Understanding of Defi Important

One of the Big Three credit rating agencies, Moody’s Corporation, often referred to as Moody’s, has listed an employment opportunity for a “crypto-asset analyst.” Moreover, Moody’s job listing shows the company is very interested in the “wide-reaching impact of decentralized finance(defi).” Moody’s Is Hiring a Crypto Analyst, Candidate Needs to Grasp Defi Moody’s is hiring […]

African Economist Says Regulated Cryptocurrencies Are Reasonable Alternative to Single Trade Currency

A Nigeria-based research and development economist, Gospel Obele, has called “for a unified regulatory mechanism for cryptocurrency trading.” He adds that such regulation of cryptocurrencies can potentially “complement an African digital currency,” hence this needs to be considered.

Seety, Belgian Startup, Launches Bitcoin Payment For Parking Sessions

The adoption of crypto as a payment method for everyday goods and services has risen in recent months.

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.

BIS partners with Australia, Malaysia, Singapore, South Africa for CBDC trials

The Bank for International Settlements (BIS), spearheaded by Singapore, will test the use of central bank digital currencies (CBDCs) for efficient global payments. Via a recent press release, the BThe post BIS partners with Australia, Malaysia, Singapore, South Africa for CBDC trials appeared first on AMBCrypto.

Poll: 3 Out of 4 Russian Investors Would Rather Buy Cryptocurrency Than Gold or Fiat

An overwhelming majority of Russian investors view cryptocurrencies as a more attractive investment proposition than traditional fiat currencies or gold, a new survey has established.

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.

Is the proposed UK CBDC 'Britcoin,' more 'harmful than beneficial'

Central Bank Digital Currencies (CBDC), which are state-backed cryptocurrencies, have been all the rage within governments all over the world as many have joined the race to develop their own.

Recommending regulations: Crypto working groups make push for adoption

Collective groups and associations want to establish industry standards for crypto, but will this guidance make a real impact on adoption? Although the cryptocurrency sector may still be considered the “Wild West” by some governments and regulators, continued adoption and emerging use cases show that digital currencies are here to stay.

Deloitte Survey Shows 76% Of Finance Execs Think Physical Money Is Nearing Its End

A recent survey from Deloitte that collated data from 1,280 senior finance executives in 10 locations across the world produced interesting results regarding the blockchain industry.

XinFin (XDC) hits a new ATH after fresh partnerships and exchange listings

XDC price soared to a new all-time high shortly after a round of new partnerships, protocol integrations and exchange listings. Enterprise adoption of blockchain technology is an important long-term goal of the cryptocurrency community because the integration of digital currencies with daily business activities will bring new users into the ecosystem and provide a boost to on-chain activity.One protocol that has been gaining traction on the enterprise adoption front is XinFin Network (XDC), an enterprise-ready hybrid blockchain solution specifically designed to optimize international trade and finance.

Rooter-Man and MyCryptoCheckout Partner to Enable Customers to Spend Digital Currencies

PRESS RELEASE. Rooter-Man, a plumbing, septic, and drain cleaning franchise with 776+ service locations throughout North America has partnered with MyCryptoCheckout to develop a pilot program that enables customers to spend digital currencies.

China to ‘maintain a high-pressure situation’ on crypto, official says

An official at the People’s Bank of China said that the public should increase its risk awareness and stay away from crypto investments. China has reportedly doubled down on its crypto crackdown with a public reminder stating that Bitcoin (BTC) and other digital currencies “are not legal tender and have no actual value.”In a local media briefing, Yin Youping, the deputy director of the Financial Consumer Rights Protection Bureau of the People’s Bank of China (PBoC), said the central bank will maintain a “high-pressure situation” and continue to crack down on digital currency-related transactions.

British Citizens Aren’t Sold on Central Bank Digital Currencies: Survey

A survey of 2,500 adults in the UK has found that most Brits are skeptical about central bank digital currencies. 

Survey Shows 3 in 4 Crypto Investors Turned a Profit Investing, Crypto Represents 12% of Millennial Portfolios

Digital currencies have seen significant gains in 2021 jumping 154% in value since January 1.

What Are Central Bank Digital Currencies (CBDCs)?

CBDCs promise to combine peer-to-peer electronic money transfers with the economic clout of fiat currencies.

People’s Bank of China Targets Crypto Companies in Shenzhen Crackdown

The Shenzhen office of the People’s Bank of China (PBOC) has reportedly set out to correct the business activities of about a dozen companies allegedly engaged in cryptocurrency transactions.

Central Bank of Iran Should Regulate Cryptocurrencies, Securities Watchdog Says

With bitcoin mining being a regulated activity in Iran, the head of the country’s securities and exchange regulator believes the central bank has to turn its attention to cryptocurrencies.

Ghana: CBDC 'presents a great opportunity...'

It's season of Central bank digital currencies (CBDCs).

Indian Government Does Not Want Cryptocurrencies to Take Part in its Payment System

While recommending the prohibition of private cryptocurrencies, the Inter-Ministerial Committee of India urged the government not to ban digital currencies issued by the State.

Israel’s Mossad Is Hiring a Cryptocurrency Specialist

The Israeli intelligence service, Mossad, is now looking to hire someone who understands digital currencies.

Using a Crypto Loan App to Bring Financial Services to Excluded Groups in Africa

In much of Africa, many people still lack access to basic financial services for many reasons.

Israel’s Mossad intelligence agency is seeking to hire a crypto expert

The job listing outlines that the intelligence agency is seeking someone with an in-depth understanding of the world of fintech and digital currencies. Israel’s national intelligence agency, Mossad, has posted a job listing for an expert in cryptocurrencies who has at least three years of experience in the fintech space.The candidate should have “in-depth technological understanding and expertise in the world of fintech, e-commerce, DEF and digital currencies,” according to the outlined requirements. The role’s description succinctly indicates that it includes “leading, initiating, planning and accompanying systems development activities” — sufficiently open for local media to proffer its own interpretation of what exactly Mossad may be seeking a crypto expert for.Major Israeli news site Ynet, for example, has claimed that Mossad is likely to be interested in using cryptocurrencies for making anonymous payments to its agents or for the purchase of equipment.Much of the Israeli state’s recent crypto-related involvement has centered on Bitcoin (BTC) and other cryptocurrencies’ popularity with the militant wing of Hamas, the de facto ruling authority of the Gaza Strip in Palestine.

More Than Half of Consumers Want to Buy Goods with Cryptocurrencies: Survey

According to a recent research, around 60% of people want to use digital currencies as a payment method for everyday purchases.

Stablecoins Could Challenge Banks and Drive Down Payment Costs: Federal Reserve Governor

A member of the Board of Governors of the Federal Reserve System is sharing his thoughts on the advantages of using private stablecoins over central bank digital currencies (CBDCs).

Venezuela announces digital Bolivar for October

Central Bank Digital Currencies [CBDCs] are turning out to be all the rage across many governments, with many nations actively developing their own.

Cryptocurrency Swap Not Banned in Iran, President’s Legal Team Says

Current regulations do not prohibit the swapping of digital currencies, according to the Iranian Vice Presidency for Legal Affairs.

Mastercard Outlines Plans for Cryptocurrencies, Stablecoins, Central Bank Digital Currencies

Mastercard’s CEO has outlined the company’s plans to develop products and services around cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs).

Leader of Nigerian Crypto Stakeholders’ Body Welcomes the E-Naira — Says It ‘Comes With No Magic Wand’

Nigeria’s proposed digital currency, the e-naira, is likely to be a welcome boost to ongoing efforts to reduce the number of Nigerians that are financially excluded, a leader of a stakeholders’ body has said.

Nigerian Crypto Exchange Boss: CBN Directive Led Shift of Trades From Centralized Exchanges to Black Market Exchanges

It has been more than six months since the Central Bank of Nigeria (CBN) directed banks to stop serving customers from the cryptocurrency industry.

Bitcoin and Crypto Threaten the Dollar and Have Advantages Over CBDCs: Economist Steve Moore

Economist Steve Moore says that crypto assets such as Bitcoin are a threat to the dollar and have advantages over central bank digital currencies (CBDCs).

IMF to Play a Crucial Role in Monitoring Digital Money Evolution

The IMF is set to play a crucial role in monitoring the advancement of digital currencies.

We have to be in the crypto space, Mastercard CEO says

Mastercard is angling to become the go-to for governments and private entities when testing and rolling out central bank digital currencies or stablecoins. Traditional card networks are vying to ensure their services remain at the center of new developments in digital assets, whether they be central bank digital currencies or private sector stablecoins.In an earnings call on July 29, Mastercard CEO Michael Miebach discussed recent developments in crypto and CBDCs, making the pitch that the company was well-positioned to remain a linchpin of intra- and international value flows:"What we believe we do is bring a perspective to the market as a multi-rail payment provider.

Ghana Vice President Praises Central Bank’s CBDC Initiative, Says Digital Currencies Can Boost Intra-African Trade

The Ghanaian Vice President, Mahamudu Bawumia, has implored African governments to start exploring digital currencies as such alternatives have the potential to enhance intra-African trade.

Ghana’s Vice President: African Countries Should Embrace Digital Currencies

According to Dr Mahamudu Bawumia, employing digital currencies in the economy would restore the trade sector.

Russian ‘Time Capsule’ to Facilitate Inheritance of Crypto Assets

Researchers in Moscow are developing a new service that will allow users to transfer digital data to their heirs, including crypto keys.

Ghana's vice president declares Africa should embrace digital currencies

Digital currencies are primed to reinvent trade between African countries. Ghana's vice president Dr Mahamudu Bawumia believes that African governments need to embrace digital currencies to facilitate trade throughout the continent.As reported by Ghanaweb Bawumia outlined his argument during the Fifth Ghana International Trade and Finance Conference, which boasted the theme of “Facilitating Trade and Trade-Finance in AfCFTA; The Role of the Financial Services Sector.” He argued that trade between African countries demands a “single central payment” system.

Senator Elizabeth Warren Keeps Crypto FUD Fighters Busy Again

Elizabeth Warren. Source: A video screenshot, Youtube/Bloomberg Politics Popular US Democratic Senator Elizabeth Warren commented on crypto and central bank digital currencies (CBDCs) again, immediately mobilizing crypto advocates. This time, the senator argued that "we have a lot of problems in our financial system right now," one of them being large banks controlling and putting at

Digital currency may be an answer to help the unbanked, Sen. Warren says

Democratic Senator Elizabeth Warren appeared to have softened her stance on the crypto industry in recent remarks. Senator and former United States presidential candidate Elizabeth Warren believes that the digital asset industry may be a tool to tackle some challenges in the traditional financial system.A known skeptic of cryptocurrencies like Bitcoin (BTC), Warren appeared to have softened her stance on the crypto industry in a CNBC Squawk Box interview on Wednesday, stating that digital currencies could be an instrument to bank the unbanked:“There has been an enormous failure by the big banks to reach consumers all across the country.

$7B investment firm recommends crypto to beat currency debasement

Crypto and land are the best assets to protect against currency debasement, advises contrarian investment firm, Horizon Kinetics. Contrarian investment firm, Horizon Kinetics, is advising investors to seek exposure to crypto assets amid mounting global economic challenges.Speaking to the Financial Times, Horizon’s co-founder Peter Doyle warned that the coronavirus pandemic and growing debt will usher an inflection point for the world economy, predicting:“There is no turning back after the pandemic and globally there is a debt problem and it means either default or currency debasement.”Horizon’s Paradigm fund made a 1% allocation into Grayscale’s Bitcoin Trust in 2016, with the investment now representing 10% of the fund’s portfolio.“People should have exposure to the asset class,” asserted Doyle, emphasizing Bitcoin’s capped supply amid concerns regarding currency debasement.“The best long-term investors tend to have concentrated portfolios and low turnover in holdings as they let the companies they own grow and compound returns,” he added.Horizon Kinetics currently boasts three of the top-10 performing mutual funds of 2021 so far, according to Morningstar.In addition to its crypto allocation, the firm’s top-performing funds have benefited from long-term investments in land owners and real estate developers across North America, including Texas Pacific Land, Dream Unlimited and Brookfield Asset Management.Related: Is Bitcoin a Store of Value? Experts on BTC as Digital GoldEarlier this month European blockchain firm Guardtime published findings that the coronavirus pandemic has spurred governments to expedite exploration into central bank digital currencies (CBDC).Predicting that a CBDC could be launched within three years, the firm’s research found that “Not only has Coronavirus accelerated the digitization of society, it has also further transformed how we use money.”

Pennsylvania legislature mulls crypto task force bill

The proposed crypto task force will examine the impact of crypto and digital currencies across the Commonwealth of Pennsylvania. A bill to establish a crypto task force in Pennsylvania has been introduced in the state’s General Assembly.According to the details of HB1724 published by LegiScan, the proposed crypto task force will be mandated to examine the potential impact of widespread crypto and digital currency adoption in the state.A moderately partisan bill introduced by eight Democratic and two Republican members of the General Assembly, the proposed legislation, if passed will be known as the “Digital Currency Task Force Act.” Introduced back on July 19, the bill has been referred to the Committee on Commerce.Outlining the duties of the proposed task force, the bill stated the agency would determine the number of cryptocurrencies being traded in the state and the exchange platforms operating in Pennsylvania.The task force will also look into investment entities seeking large-scale exposure to crypto and digital currencies and the potential tax implications of cryptocurrencies on State and local taxes.Pennsylvania’s crypto task force bill also seeks to evaluate the transparency of the crypto marketplace, especially in price manipulation and other illegal activities.

81 Countries Are Now Exploring Central Bank Digital Currencies — 5 CBDCs Fully Launched

Eighty-one countries are now exploring central bank digital currencies (CBDCs), according to a new tracker.

64% of Adults from 10 Different Countries Would Use a Central Bank Digital Currency: Report

As central bank digital currencies (CBDCs) advance in testing, a number of countries have taken the lead in an effort to create a CBDC.

Bank of Russia Advises Stock Exchanges to Avoid Trading Crypto Instruments

In line with its hardline stance on cryptocurrencies, the Central Bank of Russia (CBR) has issued a recommendation against the listing of securities tied to crypto assets on the country’s stock exchanges.

Ukraine Unveils Roadmap to Integrate Cryptocurrencies by 2024

Government and business representatives have produced a roadmap to transform Ukraine into a leader in cryptocurrency integration.

Reserve Bank of India mulls first steps toward an eventual CBDC

RBI is looking for ways to test a CBDC while causing little to no disruption for the bank’s status quo. The Reserve Bank of India, or RBI, continues to investigate the issuance of a central bank digital currency, or CBDC.T Rabi Sankar, the deputy governor of RBI, said in a speech organized by the Vidhi Center for Legal Policy that private digital currencies could be part of what makes CBDCs ultimately necessary.

Bank of Russia asks stock exchanges to not list crypto-related firms

The Bank of Russia’s new stock exchange recommendations do not apply to central bank digital currencies and authorized digital assets issued in Russia. As global cryptocurrency companies increasingly consider going public, the Russian central bank has officially recommended local exchanges to avoid crypto-related listings.The Bank of Russia issued an information letter on July 19, asking Russian stock exchanges to stay away from listings of foreign and local companies involved in a broad range of crypto services.The central bank elaborated that local exchanges should not list stocks issued by companies whose business relies on crypto market prices, including digital financial assets issued outside Russia, crypto-tracking indexes, as well as crypto derivatives and crypto funds.

Goldman Sachs Ultra-Rich Clients Send Bullish Crypto Signals

Those companies whose job it is to manage the wealth and personal affairs of very rich people are now increasingly eyeing crypto, per a new survey. American financial giant Goldman Sachs Group claims that nearly half of the family offices it does business with want to add digital currencies to their investments, Bloomberg reported.