Tag: Bank

Board urges Bank of Central African States to introduce common digital currency: Report

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The Bank of Central African States, or Banque des États de l’Afrique, which serves Cameroon, the Central African Republic, Chad, Equatorial Guinea, Gabon, and the Republic of the Congo, could be closer to releasing a central bank digital currency reportedly at the urging of its board. According to a Friday report from Bloomberg, the board sent an email calling for the regional bank to introduce a digital currency in an effort to modernize payment structures and promote regional financial inclusion. The Central African Republic, or CAR, passed legislation adopting Bitcoin…

Bank of Central African States Urged to Introduce Common Digital Currency: Report

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Reserve Bank of India Is Working on ‘Phased Implementation’ of Central Bank Digital Currency – Regulation Bitcoin News

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India’s central bank, the Reserve Bank of India (RBI), is working on a “phased implementation of a central bank digital currency (CBDC) in both wholesale and retail segments.” Necessary amendments have been made to the RBI Act, 1934 to allow the central bank to pilot and issue a digital currency. India’s Central Bank Digital Currency to Be Implemented in Phases A Reserve Bank of India (RBI) official and the minister of state in the Ministry of Finance have independently provided an update on the central bank’s progress in issuing a…

Blockchain has the biggest potential since the internet: Saxo Bank founder

While the crypto prices are calm and investor interests remain low, blockchain’s potential to transform and disrupt industries keeps attracting those eager to build regardless of digital asset prices.  Lars Seier Christensen, the founder of investment banking firm Saxo Bank, told Cointelegraph that blockchain’s inherent features made him decide to jump into the space and run a blockchain project called Concordium. He explained that: “I am fascinated with the many ways blockchain can be used in the real world to improve data security, prove ownership, and add efficiency, traceability and…

Nigerian Lenders Frustrating CBDC’s Adoption — Central Bank Governor – Emerging Markets Bitcoin News

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Apathetic Nigerian lenders are frustrating the e-naira’s adoption because they are worried this could deprive them of a key revenue source, Godwin Emefiele, the Central Bank of Nigeria (CBN) governor, has said. Emefiele said the central bank is working on a channel that would enable Nigerians without bank accounts to open e-naira wallets. E-Naira Undercuts Lenders’ Investment in Mobile Banking Infrastructure The Nigerian central bank governor, Godwin Emefiele, has reportedly slammed some lenders he accuses of thwarting the adoption of the e-naira digital currency in the country. According to Emefiele,…

Nigerian Central Bank Governor Says Fintechs and Cryptos Change the Way Financial Systems Function – Emerging Markets Bitcoin News

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The Nigerian central bank governor and bitcoin critic, Godwin Emefiele, recently remarked that the rise of fintechs and cryptocurrencies among other technologies have forced banks and financial institutions to change the way they operate. According to Emefiele, this requires the central bank’s monetary policy committee (MPC) to rethink the way it regulates the financial system. Rethinking Financial System Regulation The governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, reportedly said the MPC, which was set to meet on July 18 and 19, must chart a new path that…

Dutch Central Bank Fines Crypto Exchange Binance $3.4 Million Citing ‘Very Serious’ Violations – Regulation Bitcoin News

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The Dutch central bank has fined cryptocurrency exchange Binance 3.325 million euros for offering crypto services in the Netherlands without the legally required registration. Binance has appealed against the fine and has now submitted an application to register with the central bank. Binance Fined by Dutch Regulator The Dutch central bank, De Nederlandsche Bank (DNB), revealed Monday that it has fined Binance Holdings Ltd. for offering crypto services without registration as required by law. The administrative fine of 3.325 million euros ($3.4 million) was imposed on the cryptocurrency exchange on…

Bank of Spain Worried About Inflation and Its Consequences in Latam – Economics Bitcoin News

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The Bank of Spain has issued a new report about the performance of Latam economies during the first six months of the year. The document states that the current inflationary development that several countries of the region have can lead to institutional instability, even as the region is still recovering from the Covid-19 pandemic. Bank of Spain Report Founds Latam Is Still Vulnerable The Bank of Spain has recently issued a report where it examines the economic situation that Latam as a whole is going through after the…