Bank of Russia confirms its anti-crypto stance

    The Central Bank of Russia (CBR) has again taken an antagonistic stance against crypto, citing crypto’s inherent volatility and illegal use as a key reason for their conservative position. Sources said the CBR’s current stance on cryptocurrency is one of “complete rejection.” CBR Governor, Elvira Nabiullina, said during Friday’s online press conference that the Bank…

    Indian сrypto ban rumors crash local crypto markets

    India is on track to ban all but a few private cryptocurrencies after the government announced Tuesday the upcoming introduction of a new financial regulation bill. Indian crypto exchanges have already suffered panic selling over crypto bill confusion. The Cryptocurrency and Regulation of Official Digital Currency bill will create a facilitative framework for an official…

    Saudi Arabia’s central banker says crypto too close to criminals

    Saudi Arabia’s central bank (SAMA) should have no involvement with crypto-assets, as many people who deal with crypto are criminals, said its governor. He also called regulators to catch up in regulating cryptocurrencies. Fahad Al Mubarak, head of Saudi Arabia’s central bank, claimed there would be no smashing of the banking system by digital currencies,…

    Nigeria launches Africa’s first digital currency – eNaira

    Nigeria launched on Monday a digital currency (eNaira), the central bank said, months after it barred banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies. Nigeria joins 14 other countries now in the pilot stages with their own central bank digital currencies (CBDCs), including China, South Korea, and Sweden, with a total…

    Asian CBDC projects: What are they doing now?

    Governments in Asia are quickly researching or implementing CBDCs. What this means for the region’s overdependence on the U.S. dollar Jinia Shawdagor is studying on Cointelegraph. The rapid growth of mainstream attention toward cryptocurrencies has forced the hands of numerous governments to create their digital alternatives. Over the past few years, interest from various jurisdictions…

    BIS report: CBDC could disrupt banking

    The Bank of International Settlements (BIS) and seven different central banks, including the Bank of England, Bank of Japan, European Central Bank, and U.S. Federal Reserve, published three new reports, which find that while a groundbreaking innovation to monetary policy, central bank digital currency (CBDC) pose many opportunities and uncertainties. Digital currencies backed by central…