America’s central bank has been stress-testing retail banks in the wake of several high-profile banking collapses earlier this year. The American central bank has determined that all 23 of the country’s largest banks would be able to survive a severe recession following its “stress tests.” The report issued on June 28 also showed relative weakness…
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The Reserve Bank of India listed six specific ways a stablecoin can undermine emerging markets, adding to its mounting case against crypto. Stablecoins have a lot of potential to harm emerging markets and developing economies, the Reserve Bank of India (RBI) claimed in its latest Financial Stability Report, released June 28. The report listed six…
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According to Fabio Panetta, the volatility of crypto and aspects of blockchain technology made digital assets only suitable for gambling. Fabio Panetta, an executive board member of the European Central Bank (ECB), has suggested a dark future for cryptocurrencies, in which the digital assets may be used for little more than gambling among investors. In…
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Slovakia’s parliament passed a measure to amend its constitution to codify the right of its citizens to pay for goods and services with cash. Slovakia will codify the right to use cash as a method of payment after a vote to amend the nation’s constitution passed in parliament on June 15. The new legislation was…
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Bank of Russia plans to pilot cross-border payments using digital assets and central bank digital currencies, according to a deputy governor. The top executive believes these alternative instruments could increase efficiency in foreign trade while such settlements will not be permitted inside Russia. Russian Government Backs Initiative to Test Digital Assets in Payments Abroad The…
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In an insightful conversation with Cryptonews, Paolo Ardoino, the CTO of both Tether and Bitfinex, shed light on crucial topics relating to the crypto world. The dialogue navigated the volatile waters of inflation, the allure of gold as a tangible asset, and the growing fascination with digital gold – Bitcoin. Ardoino also explained Tether’s novel…
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MiCA was recently signed into law and published in the EU’s official journal, starting the countdown for implementing the first-of-its-kind crypto legislation in 27 member states. The European Union signed the Markets in Crypto-Assets (MiCA) regulations into law on May 31, making way for the landmark regulatory guidance on crypto assets and service providers to…
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The U.S. Bureau of Labor Statistics’ consumer price index (CPI) report, released on Tuesday, reveals that inflation in the United States has eased to a yearly rate of 4%. The latest development arrives just ahead of the upcoming Federal Open Market Committee (FOMC) meeting scheduled for June 14. The prevailing market sentiment leans towards the…
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In our latest Cointelegraph Report, we analyze the causes leading to the decline of the U.S. dollar as the world reserve currency and its potential implications. De-dollarization, the decline of the United States dollar as the world’s dominant reserved currency, is underway, and it’s gaining momentum. For over 100 years, the U.S. dollar has been…
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