A joint survey conducted by The Economist and Crypto.com reveals that consumers would rather prefer central bank digital currencies (CBDCs) than place their trust in decentralized crypto assets like Bitcoin. […]
Stablecoin ban might be the next move by the central banks if their recommendations are anything to write home about. The banks are worried that the coins are a threat […]
Brazil Pier blockchain data tool has been launched by the country’s central bank amid the Coronavirus pandemic. As per the official statement, Banco Central do Brasil (BCB) has spent around […]
Experts are wondering whether the crypto adoption in Egypt is set for a massive boost with the Egyptian Central Bank imposing limitations on daily withdrawals as the country faces severe […]
The International Monetary Fund (IMF) Deputy Managing Director, Tao Zhang, highlighted the Central Bank Digital Currencies flip side while delivering a tenor speech at the London School of Economics. According […]
The deputy governor of the Central Bank of Iran, Nasser Hakimi has warned the population that although the Iranian government tolerates the mining of cryptocurrencies within their jurisdiction, it does not condone the trading or sale of these assets in any way or manner. Hakimi outlined the key issues with cryptocurrencies, mentioning issues such as terrorism financing and money laundering cases which support criminals take funds out of the country illegally. Iran is indeed a very peculiar case when it comes to cryptocurrencies. It seems that regulating and governing corporations that deal with crypto mining is easy enough, but delegating
Masayoshi Amamiya, the head of the Bank of Japan, has raised concerns over the planned adoption of crypto assets by the nation’s financial institutions. According to him, forcing a cryptocurrency into the nation’s wider financial sector could impair the economy. Amamiya put forth the idea that these financially ordained digital currencies would inhibit the potential of commercial banks in the long run. And hence, he believes, the nation’s economy would take a blow as the process of lending and borrowing from traditional banks would also be cut down. In an official statement, he said, “If central bank digital currencies replace
According to the latest report, the Central Bank of Russia has claimed that criminals in Russia seldom withdraw stolen cash by using digital currency. Bank of Russia’s deputy director of Information Security Department Artem Sychev stated that additional protective measures had been developed and methods of withdrawing funds are also monitored by the bank. Sychev further noted that it is very uncommon to withdraw stolen money using cryptocurrency in Russia. Though there are times when digital currencies are used to withdraw cash. This practice of withdrawing stolen money in crypto is not much prevalent; for an attacker, it is way