The pace of the crypto industry’s acceleration in 2021 has surprised many, including Marcus Swanepoel, CEO of cryptocurrency exchange Luno. Swanepoel recently remarked: “We knew it was coming, but just not that fast, particularly in certain subsectors like NFTs and some altcoins.” Subsectors at ‘Top of Their Hype Cycle’ The acceleration of the crypto industry…
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It’s a case of another day, another twist in the seemingly endless saga of India’s crypto legislation. And this time the protagonists in the saga, the nameless sources leaking information to the domestic press, are claiming that the cabinet is not on the verge of doing anything with crypto after all – and that…
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The Tanzanian central bank governor recently revealed that cryptocurrencies are not outlawed in the country but warned those dabbling in crypto-related investments that they do so at their own risk. Central Bank Open to Ideas The governor of the Bank of Tanzania (BOT), Florens Luoga, recently stated that the central bank has not outlawed cryptocurrencies…
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Direct exchanges between U.S. lawmakers and the crypto industry could be finally taking a constructive turn. The biggest regulatory story of the week was a United States House Committee on Financial Services hearing squarely focused on crypto. Even the event’s title — “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of…
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Nigerian blockchain and cryptocurrency experts have suggested that many prospective users will only consider adopting the e-naira once the central bank has done enough to make the CBDC (central bank digital currency) an attractive option to use. E-Naira Still Unattractive to Users Some Nigerian experts have expressed doubts about claims by the Central Bank of…
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The central bank of Russia intends to ensure that the digital ruble is convertible to foreign currencies and can be used by non-residents. In a document devoted to the digitalization of the Russian financial sector, the regulator reiterates its concerns over the risks associated with cryptocurrencies and insists that state-issued digital currencies are safer.
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The Prosecutor General’s Office of the Russian Federation has insisted that the term “cryptocurrency” should be added to the country’s legislation. The move would allow authorities in Moscow to confiscate digital assets that have been involved in criminal activities.
Russian Prosecutor General’s Office Prepares Amendments Allowing Seizure of Cryptocurrency
With cryptocurrencies being only…
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What is the future of cryptocurrencies in Russia, and can a digital ruble really be introduced in the coming years? After the Chinese authorities introduced a complete ban on cryptocurrency transactions in September by equating them to illegal financial activity, local cryptocurrency miners either dropped off the radar or moved to other countries in order…
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Bank of France, the Swiss National Bank (SNB), and the Bank for International Settlements have successfully tested the application of wholesale central bank digital currency in cross-border payments. The project used distributed ledger technology and was realized with help from private firms. France and Switzerland Explore Direct Transfer of Euro, Swiss Franc Wholesale Digital Currencies…
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Following Treasurer Josh Frydenberg’s “payments and crypto reform plan,” the RBA has published a report exploring DLT tech and wholesale CBDC issuance. The Reserve Bank of Australia (RBA) published a report into its two-year research project into wholesale central bank digital currencies (CBDCs) that emphasized the benefits of digitizing and autonomizing manual, paper-based banking processes…
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