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
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
As reported by local news outlet Sohu, on Wednesday, the Agricultural Commerce Bank of Zhangjiagang, located in China’s Suzhou province, announced that it had issued a 500,000 digital yuan (e-CNY) loan with intellectual property backing it as collateral. The loan was issued via unanimous approval by the city’s consumer markets regulator, financial markets regulator and municipal officials. Unnamed in the report, the recipient of the loan is an entity manufacturing environmental protection equipment for steel factories in Suzhou province. As told by the entity, due to an uptick in the…
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…
A South African professor, Steven Boykey Sidley, has branded as “balderdash” claims by the South African central bank deputy governor that “90% of cryptocurrency transactions” are illicit. The professor also accused the senior central bank official of spreading inaccurate information that “does immeasurable damage to an important new industry.” Only 0.15% of Crypto Transactions Are Tied to Illicit Activity A South African university professor and author, Steven Boykey Sidley, has slammed Kuben Naidoo, the country’s central bank deputy governor, for claiming that “90% of cryptocurrency transactions” are illicit. Describing Naidoo’s…
The MAS is reviewing a regulatory regime targeting risks involving stablecoins, the minister in charge of the bank said. Source
Digital asset bank Sygnum has expanded its staking portfolio to the Cardano blockchain’s native token ADA. Source
The Central Bank of Nigeria should be discontinuing the fixed exchange rate system and let the naira freely float against the major currencies, Alhaji Aminu Gwadabe, the leader of a Nigerian association of bureau de change operators has said. The leader also slammed the recent adjustment of the central bank’s interest rate to 13%, which he said could have a negative impact on Nigeria’s underperforming economy. Central Bank Told to Intervene to Save the Naira The leader of a Nigerian association of bureau de change operators, Alhaji Aminu Gwadabe, has…
A recent study conducted by the European Central Bank (ECB) on identifying the ultimate cross-border payment medium crowned central bank digital currencies (CBDCs) as the winner against competitors, including banking, Bitcoin (BTC) and stablecoins, among others. ECB’s interest in identifying the best cross-border payment solution stems from the fact that it serves as the central bank of the 19 European Union countries which have adopted the euro. The study, “Towards The Holy Grail of Cross-border Payments,” referred to Bitcoin as the most prominent unbacked crypto asset. EBC’s opinion of Bitcoin as…
The Central Bank of Honduras has published a release that seeks to clarify the stance the institution takes about the use of cryptocurrencies in the country. The organization states that even with the popularity such instruments have attained in other countries, cryptocurrencies have no backing of any sort, and are also affected by high levels of volatility. “Any transaction carried out with them will be under the responsibility and risk of the person who performs it.” Central Bank of Honduras Clarifies Stance On Cryptocurrency While some countries have…