Tag: Bank

Central Bank of Brazil Director Praises Bitcoin as a Financial Innovation, Talks Programmable Digital Real – News Bitcoin News

boss

Fabio Araujo, Director of the Central Bank of Brazil, has praised the properties of Bitcoin, saying it is a financial innovation using new technologies. To Araujo, Bitcoin was the catalyst for what is today known as Web3. At an event, Araujo also commented about the status of the development of the digital real, stating that his organization hopes to add smart functions to the currency. Central Bank of Brazil Praises Bitcoin as Pioneer of Web3 Tech More and more central banks around the world are dealing with the…

India Freezes Crypto Exchange Wazirx’s Bank Assets — Binance Claims Acquisition of Wazirx Was ‘Never Completed’ – Exchanges Bitcoin News

boss

A major Indian cryptocurrency exchange, Wazirx, has had its bank assets of more than $8 million frozen by the Directorate of Enforcement (ED). The exchange was supposedly acquired by Binance in 2019. However, Binance CEO Changpeng Zhao (CZ) now claims that the acquisition was “never completed.” Wazirx, however, maintains that it was acquired by Binance. ED’s Action Against Wazirx India’s Directorate of Enforcement (ED) issued a press release Friday concerning Wazirx, a major crypto exchange in India. ED is a law enforcement and economic intelligence agency of the government of…

Over a trillion dollars wiped out of cryptocurrency market

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io More than a trillion dollars has been wiped out after investors started selling shares in the top cryptocurrencies, with Bitcoin plunging to its 2020 low. The crash has seen investors losing between tens and hundreds of thousands of dollars, with the shock being felt harder by those investing in ‘stablecoins,’ currencies pegged to the US Dollar. According to CoinMarketCap, cryptocurrencies are down by almost two-thirds on the market’s record capitalisation. SUBSCRIBE to our YouTube channel for more videos: Follow us on Twitter:…

Nigerian Currency Recovers Versus US Dollar — Central Bank Says Importers Must Repatriate Forex Earnings – Economics Bitcoin News

boss

After touching a new all-time low of N710 per dollar in late July, a new report says the Nigerian currency has rebounded by as much as 10%. After initially blaming speculators, the Central Bank of Nigeria has said importers who fail to remit forex earnings may be contributing to the naira’s depreciation. Naira Depreciation Less than two weeks after it tumbled to a new all-time low, the Nigerian currency recovered against the U.S. dollar on the parallel market and went to close trading at N640 per dollar on August 3.…

The Bank of Thailand to pilot Retail CBDC by the end of 2022

On top of its wholesale central bank digital currency (CBDC) projects and proof-of-concept Retail CBDC testing with corporates, the Bank of Thailand (BOT) will extend the scope of CBDC development aimed at retail to a pilot phase. A possible real-life application of the “Retail CBDC” will be conducted inside the private sector on a limited scale.  As the Aug. 5 announcement on the official page of the BOT goes: “The BOT will assess the benefits and associated risks from the Pilot to formulate related policies and improve the CBDC design in…

Bank of England Raises Interest Rate by Most Since 1995

CryptoX – Cryptocurrency Analysis and News Portal The Bank of England has raised interest rates by 50 basis points to 1.75%, its biggest single increase since 1995, amidst concerns that U.K. inflation will be significantly above 10% next year. Source The post Bank of England Raises Interest Rate by Most Since 1995 appeared first on CryptoX. CryptoX Portal

Bitcoin Unaffected by Bank of England’s Super-Size Interest-Rate Hike

The bitcoin mining difficulty ribbon, comprising short- and long-duration simple moving averages on the mining difficulty, has compressed for the first time in over a year, indicating miner capitulation. The previous bear markets, including the one seen in 2014, ended with the ribbon compression, data provided by analytics firm Glassnode show. Source BankBitcoinEnglandsHikeInterestRateSuperSizeUnaffected CryptoX Portal

WisdomTree exec on ‘be your own bank’

boss

While some experts believe that self-custody is one of the genuine purposes of crypto, this way of storing coins is not really suitable for everyone, according to a WisdomTree executive. Will Peck, head of digital assets at New York-based asset manager WisdomTree, believes that self-custody will be a growing trend in the future, but custodial solutions should not be underrated. Some crypto users prefer to self-custody, and WisdomTree supports and respects that decision, the exec said in an interview with Cointelegraph. “That will be a growing segment of the market,…