The Hong Kong Monetary Authority, Bank of Israel and Bank for International Settlements teamed up to address the complex issues of rCBDCs. The Bank for International Settlements and the central banks of Hong Kong and Israel released the results of Project Sela on Sept. 12. The project was a public-private partnership that used private intermediaries…
Read more
Some Russian banks have been increasingly concerned about the potential implications of the digital ruble after the first pilots started in August. Central bank digital currencies (CBDCs) and blockchain technology are likely to displace traditional banks, according to a Russian lawmaker. Anatoly Aksakov, head of Russia’s parliamentary financial committee and a major skeptic of Bitcoin…
Read more
Jam-Dex would be significantly transformative for the public transportation sector and needs to be embraced, believes Aldo Antonio. Bus and taxi operators in Jamaica are eager to use the country’s in-house central bank digital currency (CBDC) — Jam-Dex — as locals seek operational efficiencies and reduced costs and security risks. The Central Bank of Jamacia…
Read more
The chairman of the U.S. Federal Reserve, Jerome Powell, warned on Friday that inflation remains too high and signaled the central bank may continue raising interest rates to get it under control. In remarks at the Jackson Hole symposium, Powell acknowledged recent progress in lowering inflation but said there’s “substantial further ground to cover” before…
Read more
A newly published Reuters poll reveals that most economists concur: the U.S. Federal Reserve has likely capped its rate hikes. Yet, rate cuts aren’t anticipated until March 2024. This survey drops just as markets approach the annual Jackson Hole Economic Symposium scheduled for next week. All eyes are on Fed chairman Jerome Powell, as investors…
Read more
The Monetary Authority of Singapore (MAS) unveiled regulations aimed at ensuring the value stability of each stablecoin regulated in the city-state. Under the new rules, issuers that want their fiat-pegged tokens to be labeled as “MAS-regulated” will have to meet certain requirements. Singapore to Require Stablecoin Issuers to Maintain Minimum Base Capital and Liquid Assets…
Read more
Russia’s capital Moscow and 10 other cities will host pilot tests for the digital ruble, Bank of Russia Deputy Governor Olga Skorobogatova announced. Over a dozen Russian banks are going to take part in the trials with real transactions and users scheduled to commence in mid-August. Russia Prepares to Pilot Operations With New Digital Ruble…
Read more
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: India’s Central Bank Proposes AI-powered Conversational Payments System, India Wants to Utilize Crypto to Digitally Sign Documents, UK Recruiting For CBDC Academic Advisory Group Read more »Sign up…
Read more
Crypto company Blockchain․com has been granted a payment license in Singapore that will enable it to provide regulated services for digital assets. The authorization in the city-state, which is a major trading hub for the platform, is part of its efforts to comply with local regulations in the jurisdictions where it operates. Blockchain․com Receives MPI…
Read more
The crypto exchange is the 12th to receive a crypto-dealing license in the country allowing it to service accredited investors and institutions. Crypto exchange Blockchain.com has been granted a payments license from Singapore’s central bank, the Monetary Authority of Singapore (MAS). Blockchain.com announced on Aug. 7 it received its major payment institution (MPI) license from MAS…
Read more
