The central bank of New Zealand has lined up among monetary authorities exploring the question of issuing their own digital currencies. The financial regulator is now seeking feedback from the public about the need for a digital form of the national fiat while also promising to preserve cash. New Zealand Central Bank Considers Risks and…
Read more
According to a report published by the Bank of International Settlements (BIS) and a group of central banks, digital currencies can lead to faster settlement and cheaper transfers. Moreover, the banking group leveraged a prototype that shows how money transfers can be done in seconds with very little processing fees. Inexpensive Transfers & Speed: Bank…
Read more
A Nigeria-based research and development economist, Gospel Obele, has called “for a unified regulatory mechanism for cryptocurrency trading.” He adds that such regulation of cryptocurrencies can potentially “complement an African digital currency,” hence this needs to be considered. Cryptocurrencies Show the Way In remarks published by Joy Online, Obele insists that cryptocurrencies have already shown…
Read more
The ECB should grant e-money issuers access to central bank reserves, says Monerium. Consensys-backed e-money issuer Monerium thinks the route to a digital euro is simpler than the European Central Bank suggests. The fintech, which focuses on bridging fiat money with blockchains by issuing programmable digital cash, published a response to the ECB’s recent public…
Read more
China’s central bank aims to challenge the global financial status quo. The People’s Bank of China is placing a strong emphasis on the geopolitical stakes of the country’s central bank digital currency development. An article published in the PBoC-run magazine China Finance this weekend argued that Beijing should “accelerate the pace [of CBDC development] to…
Read more
Bitcoin hodlers could not ask for more, says Tone Vays as the U.K. central bank looks for protection against Brexit and coronavirus fallout. Bitcoin (BTC) is getting its best “advertisement” once more as another major central bank floats the idea of charging people to save their money. As Bloomberg reported quoting minutes of a meeting…
Read more
Is Mastercard trying to show some central banks the folly of their ways? Mastercard announced on Wednesday the release of a proprietary tool targeted to central banks that wish to test their Central Bank Digital Currency, or CBDC. Over 70% of central banks are entertaining the idea of a digital currency in some form, a…
Read more
The 2020 pandemic could accelerate global efforts to issue CBDCs, say BIS analysts. A new report from the Bank for International Settlements (BIS) shows that 2020 is the year that momentum behind central bank digital currencies (CBDCs) has truly taken off. Published on Aug. 24, BIS’ new working paper analyzes the global state of CBDC…
Read more
Bitcoin is both a long-term safe haven and short-term speculative asset, Ball said. Former Prudential Securities chief executive and current chairman of Sanders Morris Harris George Ball sees Bitcoin as a safe haven for those looking for different investments. In an interview with Reuters on August 14, Ball admitted he was previously a “Bitcoin opponent”…
Read more
The leaders in this week’s policy news focus on some case studies in power accumulation that more than anything show why decentralization tech matters. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note The concept of monopoly will reign in today’s Law Decoded.…
Read more
