As House Democrats grapple over the infrastructure bill, the Biden administration and Federal Reserve eye stablecoin regulation. This week, United States lawmakers and regulators have stolen much of the spotlight once more. The cryptocurrency-related provisions of the infrastructure bill, a tiny grain of sand in the grand scheme of the omnibus legislation, had all laser…
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The Central Bank Of Venezuela applied the announced redenomination plan for the national fiat currency, the bolivar on October 1. This redenomination implied slashing six zeroes from the currency, to make payments and currency handling easier, according to earlier statements. However, just hours after applying this measure, the bolivar lost more than 20% of its…
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In coexistence with mutual benefits, decentralized finance and central bank digital currencies will finally make money universally available worldwide. Decentralized finance (DeFi) is changing the way that people all over the world think about money faster than any previous financial revolution. Banks, which have monopolized the way we’ve accessed money since antiquity, are finally seeing…
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The central bank of Laos intends to explore issuing its own digital currency, according to a media report that provided details on the plan. A study on the matter will commence soon and will be conducted with the support of a fintech startup based in Japan. Central Bank of Laos Joins Race to Develop Digital…
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eNaira will continue to circulate alongside its fiat counterpart, promising a faster, cheaper and more secure option for monetary transactions. The Nigerian Federal High Court joins the growing list of regulators across the globe to approve the rollout of a central bank digital currency (CBDC) as a legal tender. Named eNaira, the digital currency will…
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The fresh policies recommended by the IMF aim to curb down the financial risks associated with global crypto adoption. The International Monetary Fund (IMF) released a set of actionable policies for the emerging markets and developing economies to ensure financial stability amid global crypto adoption. The IMF believes in the potential of crypto assets as…
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Federal Reserve Chairman Jerome Powell confirmed during a hearing before the House Financial Services Committee that he has no intention to ban or limit the use of cryptocurrencies. He also commented on the regulation of stablecoins. Powell Says ‘No Intention to Ban’ Crypto The chairman of the Board of Governors of the Federal Reserve System,…
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A spokesperson for the Central Bank of Nigeria (CBN), Osita Nwanisobi, has said the launch of the much-hyped e-naira central bank digital currency (CBDC) has now been postponed to a later date. Nwanisobi’s announcement came less than 24 hours before the CBN was scheduled to launch the digital currency. Launch Date Clashes With Nigeria’s Day…
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Cooperation between public and private sectors would be vital for a global CBDC system, says a new joint report. The Bank for International Settlements (BIS) continues investigating the development of the global central bank digital currency (CBDC), publishing a new joint report with seven central banks. Released on Thursday, BIS’ latest CBDC report refers to joint…
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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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