Bitcoin Off Lows as Bank of England’s Bond Market Intervention Raises Hopes for Fed Pivot

The BOE, Fed, and other major central banks poured billions of dollars into the financial system via QE in the aftermath of the coronavirus-induced crash of 2020, triggering an unprecedented bull run in crypto and traditional markets. Now, however, rampant inflation has forced those central banks to reverse course, sending asset markets across the spectrum sharply lower in 2022. Bitcoin has been more than halved to less than $20,000 from just shy of $70,000 late in 2021. Original

Bank of Ghana to foster financial inclusion through CBDC project

As more countries make progress in terms of developing and implementing central bank digital currencies (CBDCs), Ghana’s central bank aims to keep up and complete its research on CBDCs with the goal of financial inclusion, according to Kwame Oppong, the head of fintech and innovation at the Bank of Ghana. In an interview with Cointelegraph’s Elisha Owusu Akyaw at the Africa Money & DeFi Summit, Oppong laid out the reason behind the West African country’s venture into CBDCs. According to the government official, their main goal at the moment is…

Australia Issues White Paper for Central Bank Digital Currency – Finance Bitcoin News

Reserve Bank of Australia is researching the potential benefits of launching a central bank digital currency. The monetary authority released a white paper outlining its goals and invited interested parties to participate with proposals and suggest pilot projects. Central Bank of Australia to Pilot CBDC Until Middle of 2023 The Reserve Bank of Australia (RBA) has set out to explore use cases for a digital version of the Australian dollar. It’s collaborating on the project with the Digital Finance Cooperative Research Centre (DFCRC), a research program funded by the government…

Nexo acquires stake in US chartered bank

Digital asset lending platform Nexo has purchased a stake in a holding company that owns a federally chartered bank in the United States — a move Nexo said will enhance its ability to serve retail and institutional clients.  Nexo disclosed Tuesday that it had acquired a stake in Hulett Bancorp, a holding company that owns the federally chartered Summit National Bank, which is regulated by the Office of the Comptroller of the Currency. The terms of Nexo’s acquisition and its ownership stake in Hulett Bancorp were not revealed. The acquisition…

Digital Bank Revolut Wins FCA Registration to Offer Crypto Services in UK

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

European Central Bank Considers Rolling Out Blockchain-Powered Bank Transactions

The European Central Bank (ECB) seeks to be ahead of the game by studying how blockchain-based bank transactions will enable more money control even if lenders change to distributed ledgers. Fabio Panetta, an ECB board member, pointed out that it was fundamental to avert a situation where liquidity and trading would become fragmented if banks were allowed to settle amongst themselves or utilize stablecoins.  Panetta added: “Despite the uncertainties surrounding DLT’s potential, we want to be prepared for a scenario where market players adopt DLT for wholesale payments and…