However, the Reserve Bank of New Zealand also said that crypto and stablecoins should be more closely monitored. The New Zealand central bank is ramping up its monitoring of stablecoins and crypto-assets following public submissions but has stopped short of calling for a regulatory approach. Ian Woolford, the Reserve Bank of New Zealand’s director of…
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The use cases for the CBDC ranged from offline payments to “trusted Web3 commerce” and financial industry participants were invited to undertake a live pilot. Australia’s central bank is set to launch a “live pilot” of a central bank digital currency “in the coming months,” according to a joint statement from the Reserve Bank of…
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India’s Reserve Bank outlined the pros and cons of a digital rupee as it looks to raise awareness around its CBDC project. The Reserve Bank of India (RBI) has outlined the proposed features and reasoning behind its in-development central bank digital currency (CBDC) in a 51-page note published on Oct. 7. The country’s central bank…
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The banking authority said avoiding risk by cutting off crypto-involved clients may pose a “threat” to financial integrity. The Prudential Authority of the Reserve Bank of South Africa sent out guidelines to its subsidiaries in an effort to prevent illicit activities, encouraging banks not to cut all ties with cryptocurrency. It suggested that such an…
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The U.S. Federal Reserve Board has said it has released the final guidelines which are set to be used by Reserve Banks when “reviewing requests to access Federal Reserve accounts and payment services.” According to the board, the final guidelines will become effective as soon as they are published in the Federal Register.
New…
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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…
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Bitcoin price is down but crypto investors still have a plethora of yield opportunities thanks to DeFi. The growth of the decentralized finance (DeFi) sector has been a recurrent headline throughout 2021 and to date, hundreds of billions of dollars in crypto assets are locked on protocols across numerous blockchain networks and earning a yield…
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The Australian Prudential Regulation Authority has proposed a regulatory framework that would have it oversee digital wallets, including Calibra. The Australian Prudential Regulation Authority (APRA) is seeking to oversee stablecoin projects like Facebook’s controversial stablecoin Libra. In an official proposal to the Senate published on Jan. 20, APRA submitted a possible regulatory framework dedicated to…
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