The European Central Bank Is Either Lying About Bitcoin or Lying to Itself

Later, the authors directly contradict themselves when discussing the precise reason why bitcoin is falling out of favor for criminal use: because it is run on an immutable, fully public and transparent ledger. “Therefore, Bitcoin has been a cursed tool for anonymity, facilitating illicit activities and leading to legal action against offenders by the tracing of transactions,” they write. Source

Digital Bank is Taking on Coinbase With a New Crypto Exchange

The digital bank Revolut is developing a new cryptocurrency trading platform designed for seasoned crypto traders, according to an e-mail sent to customers this week. The new platform will offer more advanced trading features like deeper market analytics and lower trading fees than Revolut’s existing crypto services. etoro: Experience a reliable, user-friendly platform trusted by millions. Stay ahead in the crypto world. Board the Crypto Train now! In fact, Revolut aims to offer a fully independent crypto exchange in addition to standard digital asset services. The question is, however, whether…

Nigeria’s Headline Inflation Increases as Central Bank Intensifies Foreign Exchange Controls

In the first month of 2024, Nigeria’s headline inflation rose from nearly one percent to 29.9%. However, on a year-on-year basis, the January 2024 headline inflation rate was 8.08 percentage points higher than the January 2023 rate. Many commentators identify foreign exchange shortages as the root cause of the naira’s poor performance against major currencies. […] Source

Stablecoins Are the ‘Biggest Misnomers’ and ‘Oxymorons’ Says New Zealand Central Bank Governor

The New Zealand Central Bank governor, Adrian Orr, recently branded stablecoins “the biggest misnomers” and “oxymorons.” Orr also rejected the notion that cryptocurrencies could serve as a replacement or supplement to central bank-issued money. Stablecoins Not a Viable Substitute for Money Despite their rise as an alternative to fiat currency in some regions, stablecoins are […] Source CryptoX Portal

Bank of Russia Detected Over 5,700 Pyramid Schemes in 2023

The Bank of Russia reported that the number of pyramid schemes and illegal lending providers in Russia rose to over 5,700 in 2023, an increase of 15.5% over the number detected in 2022. Specifically, the number of pyramid schemes detected increased by 46%, relying on the Internet and cryptocurrency as tools for promoting and carrying […] Source CryptoX Portal

First US bank to let customers keep crypto leaves crypto industry

The American Vast Bank, the first in the United States to offer its clients tools for working with cryptocurrencies, has decided to leave the crypto industry. Information about this appeared on the credit institution’s website. Due to the refusal to work with cryptocurrencies, the Vast Bank team closed the mobile application through which bank clients could conduct transactions with digital assets. “To strategically align our operations, effective Wednesday, January 31st, 2024, we will be disabling and removing the Vast Crypto Mobile Banking application from Google and Apple, which means your…

BitMEX Co-Founder Backs Solana Amidst Fears of Another US Bank Collapse

In a post on X, Arthur Hayes, the co-founder of the derivatives crypto exchange BitMEX, said it might be time for traders to double down on Solana (SOL) and altcoins in general. Hayes’s comments come at a time of heightened volatility in the broader crypto market, with Bitcoin (BTC) struggling to regain its footing and altcoins, including Ethereum (ETH), posting mixed results. Time To Switch To Solana? The co-founder noted that it could be time to get back on the Solana “train.” With this preview, Hayes is convinced that Solana and…

India CBDC Insider Reveals Current Stance of Country’s Central Bank

The Reserve Bank of India (RBI) is now looking into technology solutions to solve privacy concerns posed by a digital rupee, the official said. While the bank is maintaining a careful stance on crypto, the person said, it wouldn’t plan to object if the government decided to reduce a controversial tax that has stifled the crypto industry. The RBI isn’t mandated with legislating taxes, so that decision falls out of its purview. However, the central bank has stepped beyond its role before to try to ban crypto, so its apparent…