Iran Central Bank Branch Set on Fire, Crypto Community Follows Events

Iranian protesters have set the building of the Central Bank of the Islamic Republic of Iran in the city located in the city of Behbahan on fire, as the cryptocurrency community closely follows the developments. The official twitter profile of libertarian media company BeingLibertarian published a video of what is presumably a branch of Iran’s central bank in Behbahan, in the southwest of the country, being set on fire amid protests. Interestingly, the reaction to the tweet was overwhelmingly positive, with one user saying: “We might consider trying that here!!…

Central Bank of China Starts Trials to Restrict Large Cash Transactions

The People’s Bank of China (PBOC) announced that it will pilot a restriction on large-scale cash transactions in three different regions across the country, with one expert calling the move paving the way for its upcoming digital Renminbi token (RMB). On Nov. 14, local news outlet Xinhuanet reported that the PBOC intends to carry out a large-scale cash management trial that will last for 2 years and will be implemented in phases in the Hebei Province, Zhejiang Province and Shenzhen City. Guide customers to non-cash payment tools The PBOC explained…

Canadian Bank Changes Bitcoin Tune, May Launch Cryptocurrency Exchange

The Royal Bank of Canada (RBC) is exploring building a cryptocurrency trading platform for both investments and in-store/online purchases. This move would make the bank — the largest in Canada by market capitalization, with $661 billion CAD ($499 billion) in assets under management — the first in the country to launch a cryptocurrency exchange. The trading platform would facilitate the buying and selling of individual digital coins, including Bitcoin and Ether, as well as bundled crypto assets. RBC also plans to offer customers the ability to open accounts to safely…

Tunisian Central Bank Denies Reports of an ‘E-Dinar’ Digital Currency

The Central Bank of Tunisia (BCT) has denied reports stating that the bank is developing a central bank digital currency (CBDC). An official announcement from the BCT follows apparently false reports that Tunisia was the first country to start moving its national currency to a blockchain platform and was preparing to launch its “e-dinar.” Central Bank of Tunisia is focused on the digitization of finance In the statement, the BCT refuted all claims regarding the development of a digital money solution. The Central bank clarified that it is now exploring…

China’s Central Bank Executive: ‘Controllable Anonymity’ with State’s Digital Currency

As China moves forward towards the launch of the digitized version of its traditional currency, investors and financial authorities all over the world closely monitor and assess its implications for the general public. With worries of surveillance and abuse in mind, the head of the People’s Bank of China’s digital currency research institute Mu Changchun stressed that the digital currency is not intended to empower the state to control private information of the public. Instead, it will function to mitigate security issues by providing the Chinese government the tools to…

Regulated Swiss Crypto Bank SEBA Opens Doors

Switzerland-based cryptocurrency bank SEBA has launched its services for professional investors and enterprise clients, according to an official news release published on Nov. 12. As reported, SEBA Bank AG (formerly SEBA Crypto AG) is a fully-regulated institution, having secured a banking and securities dealer license from the Swiss Financial Market Supervisory Authority (FINMA) in August of this year. A fully-fledged, regulated crypto bank According to the announcement, the bank’s services are now fully operational for a range of prospective clients, including corporates, asset managers and professional private investors. SEBA will…

‘No Point’ in Central Bank Digital Currencies

Alan Greenspan, the former chair of the United States Federal Reserve (Fed), has said there’s “no point” for central banks to issue their own digital currencies. According to a CNBC report on Nov. 11, Greenspan made his comments during the annual economic outlook conference hosted by Chinese financial magazine Caijing. No point in Libra either Greenspan’s argument reportedly hinged on the fact that national fiat currencies are backed by sovereign credit — a provision that is exclusive to the nation-state and its institutional structure.  Not even the tech behemoths in…

Canada’s Largest Bank Mulls Crypto Exchange After Bitcoin Ban — Report

A Canadian bank, which banned its clients from buying Bitcoin (BTC), could now become the first in the country to launch a cryptocurrency exchange.  As innovation economy news outlet The Logic reported on Nov. 11, the Royal Bank of Canada (RBC) is now rumored to be considering the plans. RBC reportedly planning multifunctional exchange RBC is the largest bank in Canada by market capitalization, with $661 billion CAD ($499 billion) in assets under management. According to The Logic, the bank is entertaining the possibility for the exchange to function both…

Bitcoin Advocate Calls For Ban On Gold Amidst Danske Bank Scandal

Bitcoin advocates call for a ban on gold as on-going investigations into Danske Bank reveal the lender offered gold bars to clients as an off-the-table service. This bypassed money laundering checks and was sold based on helping to keep the fortunes of wealthy clients hidden. At the height of the Danske Bank dirty-money scandal, the lender started offering gold bars to wealthy clients to help them keep their fortunes hidden, sources say https://t.co/r0c0BnC7m9 — Bloomberg (@business) November 10, 2019 Danske Bank Laundered $220 Billion Authorities in both the US and…