Bitcoin price rallied from $12,920 to $13,600 in the hours following the European Central Bank statement and optimistic job data from the U.S. The price of Bitcoin (BTC) increased from $12,920 to $13,600 in four hours, recording a 5% rally. The uptrend coincides with positive developments from the European Central Bank, or ECB, and optimistic…
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Talk of CBDCs and Facebook’s Libra headlined this week’s policy news, as international organizations weigh in on both. Editor’s note Blockchain technology has attracted regulatory attention since its inception. The security of the Bitcoin network despite the value of BTC in play has consistently proved the resilience of blockchain technology in maintaining records across a…
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The report is only the start of the discussion and raises more questions before officially studying the digital euro. The European Central Bank (ECB) could begin seriously considering and studying the digital euro by mid-2021, the bank said in a report released Oct. 2. The report examined how a digital euro may impact retail payments…
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China might lead the charge into the digital economy, but will being the first major economy to launch a CBDC be enough to win global reserve currency status? China’s Digital Currency Electronic Payment system is at the forefront of news around central bank digital currencies, or CBDCs. As China will be the first nation to…
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In the EU, getting laws right on Libra could be the best way to speed up a digital euro from the European Central Bank. While Facebook’s Libra project might have shaken the United States government the most, the aftershocks were felt all over the world. The European Union was no exception: The publication of the…
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The European Union’s 5AMLD has been adopted as the first regulation in Romania of virtual currencies, crypto-wallets and fiat-crypto exchange platforms. The European Union and the European Central Bank wanted to create a unitary legal framework that would limit the anonymity of cryptocurrency transactions, especially in the spectrum of money laundering, terrorist financing and tax…
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The coronavirus pandemic has forced governments worldwide to focus on bringing blockchain tech to their financial services. Famed currency speculator George Soros, who in 1992 broke the Bank of England to emerge a billionaire overnight by forcing the pound out of the European Exchange Rate Mechanism, believes: “We will not go back to where we…
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European Central Bank executive board member Yves Mersch believes that the main impediment for CBDC is philosophical rather than technological. A number of countries such as China and Sweden are already experimenting with central bank digital currencies, which are also referred to as CBDCs. The implementation of this new type of money requires a number of aspects…
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The European Central Bank says global stablecoins require clear regulatory structure prior to approval. In a recent in-depth report on global stablecoins, the European Central Bank, or ECB, pushed for clear regulatory parameters for stablecoins, citing risks as well as gaps in current regulations. “In order to reap the potential benefits of global stablecoins, a…
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The European Central Bank is looking to renovate its payments infrastructure, studying both public and private solutions, with or without blockchain. A blog post from the European Central Bank (ECB) discusses the importance of resilient payment mechanisms. While the report focuses on legacy systems, it also mentions novel blockchain-based technologies like the digital euro. Published…
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