Tag: CentralBanks

The People’s Bank of China once again asserted its crypto crackdown stance at a recent media briefing. The Central Bank stated that virtual currencies like Bitcoin can’t compete with legal tender in the nation. The bank officials argued that cryptocurrencies are not backed by any real value. According to local media, Yin Yuping, deputy head…

The Reserve Bank of India has announced its first digital currency trials may launch yet in December 2021. RBI governor said that central bank digital currency (CBDC) was being discussed for a while now, and the authorities remained cautious regarding its scale. Speaking on Thursday, the central bank governor Shaktikanta Das told CNBC that the…

This week, several central banks at once released announcements regarding national digital money. Financial regulators of Canada, India, and Nigeria made moves toward launching their own central bank digital currencies (CBDCs). The Central Bank of Nigeria (CBN) has this week redoubled its investment and research into crypto’s underlying technology, blockchain, and has set a clear…

Will Central Bank Digital Currencies (CBDC) make Bitcoin obsolete or not? – professor Sean Stein Smith reflects in the Forbes column. Recent comments by the chairman of the Federal Reserve, Jerome Powell, highlight the need for more productive conversations around crypto competition. During testimony to both the House and Senate the topic of a central…

As Gulf News reported, the United Arab Emirates plans to implement a central bank digital currency (CBDC) as early as 2023, as outlined in a road map for the UAE economic future. According to the three-year plan for 2023-2026 that announces the launch of its digital currency, the Central Bank of the UAE (CBUAE) intends…

The U.S. Federal Reserve singled out a surge in the price of cryptocurrencies for the first time in its overall assessment of the stability of the financial system. According to Bloomberg, the regulator noted the rise reflected the increased risk appetite by investors. The brief comment about “the surge in the prices of a variety…