A new study shows that payments via central bank digital currencies (CBDCs) are expected to reach $213 billion annually by 2030. Furthermore, 92% of the total value transacted via CBDCs will be paid d...
Tag: Currency
Fed Chair Powell Provides Update on US Central Bank Digital Currency – Regulation Bitcoin News
Federal Reserve Chairman Jerome Powell has provided an update on the Fed’s central bank digital currency (CBDC) work in a hearing before the House Financial Services Committee. While stating that the ...
A Comprehensive Guide to Central Bank Digital Currency (CBDC)
Retail CBDC is intended for use by the general public for everyday transactions. CBDC is a cutting-edge technology that has the potential to revolutionize how we conduct business. Digital fiat money, ...
Brazil Central Bank Kicks Off Digital Currency Pilot Test
Brazil has started a pilot program for its Central Bank Digital Currency, or CBDC, becoming the latest country to experiment with the digital version of its national currency. The move is part of the ...
Acting Comptroller of the Currency Speaks About FTX, BCCI
Acting Comptroller of the Currency Michael J. Hsu speaks about the fall of BCCI and FTX. Hsu also pointed out the similarities between the fall of FTX and BCCI. Additionally, he also shared some thoug...
Blockchain Beyond Currency: Revolutionizing Digital Identity
Blockchain technology has changed the way we think about currency and finance. Yet, its potential goes beyond just digital currency. Blockchain could transform a wide range of industries and applicati...
FTX Debtors file lawsuit against Grayscale and Digital Currency Group
The FTX saga continues to hit the crypto headlines. In its latest, the FTX Debtors have announced a lawsuit against Grayscale Investments, a popular crypto asset management firm. The lawsuit also exte...
Iran completes pre-pilot phase of central bank digital currency
Iran is moving forward with its central bank digital currency (CBDC) plans, completing preliminary research for the launch of a potential digital rial. The Central Bank of Iran (CBI) has successfully ...
Binance Temporary Ban’s Ukraine’s Hryvnia Currency Bank Cards
Both exchanges validated the existence of the issues related to such trades. The limits imposed by the central bank towards the end of December had gotten stricter. Binance, the biggest cryptocurrency...
Crypto Conglomerate Digital Currency Group Reports Loss of $1.1B in ‘Challenging’ 2022
From a consolidated balance sheet perspective, DCG held total assets of $5.3 billion as of Dec. 31, 2022, the report said. This included cash and cash equivalents of just $262 million. Investment asse...
Ray Dalio Says BTC Is Not a Reliable Currency
Ray Dalio – the founder of Bridgewater Associates – says the financial system so many people have become familiar with is in dire straits and in danger of collapsing. He’s now pushing his interest in ...
BRICS Nations ‘Coalescing Against the Dollar,’ Major Banks Predict More Fed Hikes, Bitcoin Records Large Blocks as Ordinals Gain Currency – The Weekly Bitcoin News
In spite of turbulence in traditional global finance, with BRICS nations said to be pushing for de-dollarization and major banks like Bank of America and Goldman Sachs predicting further interest rate...
Continued Sanctions On Russia “Unlikely To Deliver A Knockout Blow,” Think Tank
A view of the Kremlin’s Spasskaya tower and St. Basil’s cathedral taken during the last day of the … [+] three-day parliamentary and local elections in Moscow on September 19, 2021. ...
Nigeria seeks partners for a technological upgrade of its digital currency, the eNaira
Join Our Telegram channel to stay up to date on breaking news coverage Nigeria is in discussions with potential technology partners to create a brand-new system to control and manage the digital curre...
Rep. Tom Emmer Says Fed Must Not Create Digital Currency ‘Surveillance State’
Republican House Majority Whip Tom Emmer (R-MN) introduced legislation Wednesday seeking to bar the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals, which h...
Fans Can Now Buy London Lions Tickets with Digital Currency
European basketball team the London Lions has aligned itself with Bit Pay and formed a joint partnership with the crypto platform. The purpose? To allow fans to purchase both tickets and merchandise s...
Crypto should not be given official currency, legal tender status – IMF
Ad The International Monetary Fund (IMF) warned that giving cryptocurrencies the status of legal tender or official currency could lead to adverse effects on the monetary sovereignty and stability of ...
Digital Currency Transaction Success Rate Depends On User Location, Suggests Report
Join Our Telegram channel to stay up to date on breaking news coverage What – A recent report states that the success rate of cryptocurrency transactions depends heavily on the user’s location. Why – ...
Why stablecoins may not replace fiat currency, as per BIS Chief
The events of 2022 reportedly raise “serious doubts about the potential of stablecoins to serve as money.” Many stablecoins now in use may not adhere to the tight requirements imposed for issuers. Agu...
A16z backed Bitski launches digital currency wallet
Web3 • February 22, 2023, 8:00AM EST Bitski today rolls out a new wallet targeting crypto natives and newcomers alike. Backed by major investors such as A16z, Galaxy Digital and Kindred Venture...
Russia’s Yandex Search Engine Adds Crypto Into Its Currency Converter
7 hours ago | 2 mins read Bitcoin News The widget includes a pricing chart and a rapid conversion tool above search results. Coins and tokens may be priced in various fiat currencies. Yandex, the most...
San Francisco Fed Hiring for Digital Currency Development
The Federal Reserve Bank of San Francisco is looking for software developers to help research and design a central bank digital currency (CBDC). One job listing posted to LinkedIn is for a “Senior App...
Japan to Launch Central Bank Digital Currency Pilot in April 2023
In April of 2023, Japan intends to launch a pilot program for a central bank digital currency (CBDC), even if the country does not permit the use of international stablecoins like Tether (USDT). It in...
Bond Billions Coming Home to Europe Ease Long-Term Currency Drag
(Bloomberg) — A seismic shift in capital flows is playing out in Europe’s bond and currency markets as investors adjust to a world without central bank stimulus. Most Read from Bloomberg Three h...
CBUAE Plans to Launch Central Bank Digital Currency
As part of the first phase of its recently initiated financial infrastructure transformation (FIT) initiative, the Central Bank of the United Arab Emirates (CBUAE) has plans to introduce a central ban...
Why The UAE Central Bank Is Interested In Issuing A Digital Currency
In recent months, initiatives surrounding central bank digital currencies, (CBDC) have gained traction as banking authorities attempt to streamline cross-border transactions and stimulate innovation ...
Digital Currency Group Sells Shares in Subsidiary’s Crypto Funds
The cryptocurrency conglomerate known as Digital Currency Group (DCG) is apparently getting ready to generate cash and maintain its liquidity by selling its assets in cryptocurrency funds that are man...
The UK is a step closer to launching a central bank digital currency
After the publication of a consultation document that explains the planned digital pound, which the general public has dubbed “Britcoin,” the United Kingdom is one step closer to creating ...
US Dollar to Keep Losing Its Appeal as Safe-Haven Currency of Last Resort, Says Strategist – Economics Bitcoin News
Pacific Investment Management Company (PIMCO) expects the U.S. dollar to “continue to lose its appeal as the safe-haven currency of last resort.” The $1.74 trillion asset management firm added that th...
Laos starts digital currency tests with Japan blockchain company
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Digital Currency Group (DCG) And Genesis Reach Initial Deal With Creditors
– Advertisement – The Digital Currency Group (DCG) and Genesis have reached an in-principle agreement with the conglomerate’s main creditors. The deal involves the sale of bankrupt Genesi...
Digital Currency Group Sells Grayscale Shares to Raise Funds Amid Financial Difficulties
Digital Currency Group (DCG), a crypto conglomerate backed by SoftBank, is selling shares in several of its investment vehicles run by subsidiary Grayscale. The move is a response to the financial dif...