Tag: Bank

Uganda Central Bank Says It Is Open to Crypto Firms Participating in Regulatory Sandbox – Regulation Bitcoin News

boss

The Bank of Uganda (BOU) has hinted that it is open to the idea of crypto firms participating in the regulatory sandbox. The central bank’s position follows its deliberations with a team from the Blockchain Association of Uganda (BAU). BAU Members Asked to Acquaint Themselves Sandbox Regulations The Ugandan central bank has said following talks with the team from the BAU, it is now open to the idea of having crypto firms participate in its regulatory sandbox. Consequently, the central bank has asked members of the BAU that may want…

Czech Central Bank Plans Tenfold Increase in Gold Holdings, New Governor Says Precious Metal ‘Good for Diversification’ – Economics Bitcoin News

boss

The incoming governor of the Czech National Bank (CNB), Aleš Michl, has said he plans to increase the institution’s gold holdings almost tenfold from the current 11 tonnes to 100 tonnes. Michl also said he will ask the bank’s foreign exchange reserves management team to invest in stocks. Growing the CNB’s Shareholding The incoming governor of the Czech National Bank (CNB), Aleš Michl, has said gold is good for diversification because “it has zero correlation with stocks.” Therefore, under his stewardship, the CNB hopes to increase its holdings of the…

Central Bank Digital Currencies Could Kill Cryptocurrencies – Regulation Bitcoin News

boss

Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar says central bank digital currencies could “kill whatever little case there could be” for cryptocurrencies, like bitcoin and ether. RBI’s Deputy Governor Discusses Impact of CBDCs on Cryptocurrencies RBI Deputy Governor T. Rabi Sankar talked about the potential impact of central bank digital currencies (CBDCs) on cryptocurrencies, like bitcoin and ether, at a webinar organized by the International Monetary Fund (IMF), local media reported Friday. He was quoted as saying: We (RBI) believe that CBDCs would actually be able to…

Brazilian central banker describes how CBDC system can halt bank runs

boss

In a paper recently published by the Bank for International Settlements (BIS), Fabio Araujo, an economist at the Central Bank of Brazil (CBB) who is also responsible for the country’s central bank digital currency work, revealed that the monetary authority will have greater control over the population’s money once its CBDC is rolled out. Through the so-called Real Digital, the central bank will be able to halt bank runs and impose other restrictions on citizens’ access to money.  Real Digital, the digital version of Brazil’s national currency, has been debated…

Central Bank of Armenia Urged to Regulate Cryptocurrencies – Regulation Bitcoin News

boss

Calls have been issued in Armenia for the central bank to do its job and put the country’s crypto space in order. Both government regulators and representatives of the financial sector insist that the industry needs regulation to prevent the use of cryptocurrencies for illicit purposes. Bankers and Tax Officials in Armenia Call for Crypto Regulations The State Revenue Committee (SRC), a regulatory body responsible for tax and customs services in Armenia, has turned to the Central Bank of Armenia (CBA), urging the monetary authority to ensure the country’s crypto…

Singapore’s Central Bank, DBS, JPMorgan Collaborate to Explore Uses of Digital Assets, Defi – Regulation Bitcoin News

boss

The Monetary Authority of Singapore (MAS) has partnered with major banks and financial services companies to explore the uses of asset tokenization and decentralized finance (defi). DBS Bank and JPMorgan will pilot the first project. Project Guardian Launched The Monetary Authority of Singapore (MAS), the country’s central bank, announced Tuesday that it has partnered with the financial services industry to launch Project Guardian. The central bank described Project Guardian as “a collaborative initiative with the financial industry that seeks to explore the economic potential and value-adding use cases of asset…

Thai Central Bank Governor on CBDC Pilot Delay

Again, it gets back to that point that was raised during the panel that we want to be clear about what problem we’re trying to solve and think about the benefits of it. The existing system works pretty well on payments, if we have a fast payment system [that] works very well. So the additional incremental benefits you would get from using a retail CBDC for payments are not immediately known. So it’s important again, to get it right, rather than get it out quickly. But if you asked me…

Tether’s reported bank partner Capital Union shares its crypto strategy

boss

Capital Union, a Bahamas-based bank that reportedly holds a portion of reserves by the Tether (USDT) stablecoin issuer, has been itself actively involved in the cryptocurrency industry. The banking institution has rolled out crypto trading and custody services to its professional clients as part of the bank’s trading desk, a spokesperson for Capital Union told Cointelegraph on May 31. “We work with a few selected trading venues and liquidity providers and a handful of custodians and technology providers, which allows us to support a large variety of digital assets as…

Brazilian Development Bank Launches Blockchain Network – Bitcoin News

boss

The Brazilian Development Bank has officially launched the Brazilian Blockchain Network, a structure designed to aid other institutions in the country in increasing public transparency. The launch, which was also assisted by the Court of Accounts of the Union, serves to call more institutions to adhere to this project, which aims to have its first applications ready for 2023. Brazilian Blockchain Network Launch Completed The Brazilian Blockchain Network, a public and distributed blockchain, was launched on May 30. The event, which was hosted by the Brazilian Development Bank…

Russian central bank signals agreement with crypto law revisions: Report

boss

First deputy governor of the Russian central bank Ksenia Yudayeva stated Tuesday that the bank is open to using cryptocurrency for international payments, Reuters reported, along with Russian media, which added that the bank was reconsidering its position on crypto mining as well. Yudaeva was quoted as saying: “We have changed our position on mining, and also permit the use of cryptocurrency in foreign trade and outside the country,” The bank official’s statement, sandwiched into announcements about domestic bank regulation, seems to be a concession to the legislators preparing a…