Month: February 2022

Bahrain Central Bank Completes Cross-Border Transfer Test Using JPMorgan Blockchain – Blockchain Bitcoin News

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The Central Bank of Bahrain (CBB), working in partnership with Bank ABC, recently announced it had successfully tested the transfer of funds across borders using JPMorgan’s JPM Coin. The test fulfills the central bank’s goal of creating safe and efficient settlement solutions for customers. Eliminating Inefficiencies in the Cross-Border Payment Arena With CBDCs Bahrain’s central bank recently said it had piloted its first cross border funds transfer using the JPMorgan blockchain. The transfer, which was carried out in partnership with Bank ABC, is the latest step taken by the CBB…

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Crypto Is No Match for Well-Designed Central Bank Digital Currencies – Regulation Bitcoin News

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The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, says that crypto assets and stablecoins are no match for well-designed central bank digital currencies (CBDCs). “If CBDCs are designed prudently, they can potentially offer more resilience, more safety, greater availability, and lower costs than private forms of digital money,” she said. IMF on Crypto, Stablecoins, and CBDCs IMF Managing Director Kristalina Georgieva gave a speech last week at the Atlantic Council in Washington D.C. regarding the future of money, cryptocurrency, and central bank digital currencies (CBDCs). Noting that…

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Switzerland’s Largest Bank UBS Expects US Crypto Legislation to Take Time – Bitcoin News

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Switzerland’s largest bank, UBS, expects the United States Congress to take a long time to pass cryptocurrency legislation despite mounting interest in crypto investments and regulators calling for Congress to weigh in on crypto legislation. Congress Could Take a Long Time on Crypto Legislation The largest bank in Switzerland, UBS, published its view on U.S. crypto legislation Friday after the House of Financial Services Committee held a lengthy hearing on the regulation of cryptocurrencies and stablecoins last week. The Swiss bank’s U.S. Office of Public Policy explained that at the…

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