South Korea digital asset trading taxation may lead to crypto legalization
A South Korean digital asset trading taxation might usher in a new era of legalizing cryptocurrencies. Imposing taxes on the asset class trading is a surefire signal that the government has bowed to pressure from local crypto users. The last two years have seen the authorities oppose crypto trading but things are looking bright. South […]
The Bank of Ghana intends to pilot a central bank digital currency
The first deputy governor at the central bank of Ghana affirmed that the bank is committed to piloting a central bank digital currency. Dr. Maxwell Opoku-Afari, the first deputy governor of the Bank of Ghana (BoG) spoke at a virtual stakeholder workshop on payment systems and services to reveal the institution’s future plans. Ghana to […]
Central Banks approach to CBDC favors blockchain technology, Bank of Korea reports
The Central Bank of Korea has recently submitted a report that has highlighted how central banks approach to CBDC around the world will be focused on Blockchain technology. According to the report, central banks around the world have been harnessing the thoughts of creating their digital currency with blockchain technology because of technological advancement. The […]
Top European Central Bank official discusses the adoption of CBDC at a crypto event
One of the top executives at the European Central Bank has discussed the adoption of the digital currency made by the bank by majority of the population. Yves Mersch, an executive stated that the bank is looking for ways to help the further adoption of CBDC at a faster pace. The high ranking official gave […]
Mauritius CBDC pilot check to begin soon
Harvesh Seegolam, governor Bank of Mauritius, has said at a distributed virtual conference that the country would begin its pilot check to launch a Central Bank Digital Currency (CBDC) soon. He said currently, before Mauritius CBDC, the bank is working on a project and will soon make an announcement as regards a potential CBDC. The […]
US, China draw battle lines as coronavirus outbreak derails global economy
As the coronavirus outbreak continues to ravage across the United States, leaving a devastating impact on the global economy by severely damaging the industrial activity of the world’s two most significant and largest economies, Forbes reports that this could very well be the beginning of the end of the US dollar dominance. President Donald Trump […]
China CBDC testing list features Starbucks and McDonald’s
The ambitious China CBDC testing schedule is set to begin on a commercial scale. The experiment will cover many industries, sectors, companies, and even government services. Now, the authorities have announced that chosen international brands operating will also be a part of the China CBDC testing process. The list of testing centers for Chinese central […]
Digital yuan could be tested by McDonald’s, Starbucks and Subway
Rumors have it that there is an upcoming real–world test of the proposed China’s digital yuan. According to a local Chinese publication called Interchain Pulse, a promotion conference took place on April 22 in the city of Xiong’an, which is situated close to China’s capital of Beijing. Among the participants in the piloting phase include […]
Digital Euro: Dutch central bank wants to play “leading role” in CBDC development
The central bank of the Netherlands, De Nederlandsche Bank (DNB), wants to become the proving ground for the digital Euro. The bank released a 45-page report saying that it was ready to “play a leading role” in the research and the development of its own and a Europe-wide digital currency. Digital Euro A digital dollar […]
Digital currency craze catches up with Dutch Central Bank
The digital currency craze has caught up with the Netherlands Central Bank (DNB). The bank wants to be part of developing and testing the digitalized Euro. There is a significant shift from using fiat and the central bank digital money is planned to cash in on the anticipated boom going forward. Crypto usability has played […]
Banks in Argentina test new blockchain clearing system
Top banks in Argentina are reportedly conducting trials on a new blockchain-based system that will enable settlements amongst them, which will also form the basis for a new clearing system. The blockchain development team, IOV Labs disclosed the news on Tuesday. Argentina sees a new blockchain clearing system alternative IOV Labs specializes in developing financial […]
Consumers pick CBDCs over decentralized cryptocurrencies, survey
A joint survey conducted by The Economist and Crypto.com reveals that consumers would rather prefer central bank digital currencies (CBDCs) than place their trust in decentralized crypto assets like Bitcoin. It is a known fact that the number of central banks looking to tap into positive crypto sentiments by introducing their own CBDCs has seen […]
Can CBDCs and crypto ideals coexist?
CBDCs is an oxymoron as it seems contrary to true crypto ideals. Cryptocurrencies are gaining traction across the globe. Their mainstream adoption is increasing every day, and real-world use cases are also on the rise. Whether it is cross-border remittances or anonymous privacy-focused payments, cryptocurrencies are increasingly becoming part of the general psyche. And now, […]
Stablecoin ban: Financial Stability Board goes brutal
Stablecoin ban might be the next move by the central banks if their recommendations are anything to write home about. The banks are worried that the coins are a threat to the global financial sector. These institutions have only two options; overly regulate the sector or ban the coins altogether creating a crypto nightmare. The […]
Brazil Pier blockchain data tool launches amid COVID-19 pandemic
Brazil Pier blockchain data tool has been launched by the country’s central bank amid the Coronavirus pandemic. As per the official statement, Banco Central do Brasil (BCB) has spent around $250,000 on this Quorum blockchain-based data sharing solution. The tool allows various agencies to safely access data from other associated concerns. the tool will identify […]
Is cash shortage preparing the ground for crypto adoption in Egypt?
Experts are wondering whether the crypto adoption in Egypt is set for a massive boost with the Egyptian Central Bank imposing limitations on daily withdrawals as the country faces severe cash crunch amid the growing fears of the coronavirus pandemic. It was a watershed moment for the cryptocurrency industry when the crypto adoption in Egypt […]
Central Bank Digital Currencies flip side: Threatens stature of banks?
The International Monetary Fund (IMF) Deputy Managing Director, Tao Zhang, highlighted the Central Bank Digital Currencies flip side while delivering a tenor speech at the London School of Economics. According to Zhang, state-issued central digital currencies flip sides are linked with low tariffs and efficiency. During his February 28 talk, which was released to the […]
