Tag: Bank

Fed’s Bullard Wants to Raise Bank Rate to 3.5% by Year’s End, Hints at 75 Basis Point Rate Hike – Bitcoin News

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The 12th president of the Federal Reserve Bank of St. Louis, James Bullard, thinks the U.S. central bank can increase the benchmark bank interest rate by 75 basis points this year. Bullard believes the Fed could raise rates to 3.5% by the fourth quarter of 2022 to combat the red hot inflation plaguing the U.S economy. James Bullard Says ‘Inflation Is Far Too High,’ St. Louis Fed Chief Hopes to See Large Interest Rate Increases Going Forward On March 16, Bitcoin.com News reported on the Federal Reserve raising the benchmark…

Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing – Finance Bitcoin News

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The Central Bank of Russia has emphasized the importance of moving forward with its digital ruble project. According to a statement by a top representative, the monetary authority has no intention to delay the trials despite not all invited banks being ready to participate yet. Bank of Russia to Experiment With Digital Ruble Payments This Year The digital ruble is “very much needed,” First Deputy Chairman of Bank of Russia Olga Skorobogatova has recently remarked in a statement quoted by business news portal RBC’s crypto page. The regulator will not…

Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year – News Bitcoin News

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The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this new test will include a fixed supply of the mentioned token, and detailed this pilot will be executed during the last six months of this year. Central Bank of Brazil Advances CBDC Project The Central Bank of Brazil has offered details about the advancements it has made regarding…

Portuguese regulator grants first crypto license to a bank

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Portuguese based bank Bison Bank has received permission from Portugal’s Central Bank (Banco de Portugal) to operate as a “virtual asset service provider ”(VASP), making the first bank in the country to be given the green light by the regulator. On Thursday, Banco de Portugal updated its list of virtual asset service providers adding “Bison Digital Assets” as the country’s’ fifth licensed crypto exchange. The company is newly created to operate under Bison Bank, which is fully held by a Chinese private capital firm based in Hong-Kong, and will position…

Cryptocurrencies Carry Systemic Risks, Threaten Ruble, Bank of Russia Insists – Finance Bitcoin News

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The spread of cryptocurrencies brings significant risks for Russia’s economy, financial stability, and national fiat, the monetary authority in Moscow has reiterated. The central bank has reaffirmed its hardline stance on decentralized digital money in a new report published as the government prepares to regulate the Russian crypto space. Central Bank of Russia Issues Warnings About Cryptocurrencies Russians’ growing interest in cryptocurrencies, their significant crypto investments, and the high risks associated with crypto operations create potential systemic threats, the Central Bank of Russia (CBR) has pointed out in its annual…

Ghana Central Bank Reiterates Warning Against Practice of Pricing Goods in Forex – Emerging Markets Bitcoin News

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The Bank of Ghana has warned businesses and the public against the practice of demanding or making payments in foreign currency without its authorization. The central bank’s warning comes just over a month after Ghana’s currency was rated the worst performing among Africa’s top currencies. Violators Face Possible Prison Time The Ghanaian central bank has reminded the public that the practice of receiving or making payments for goods and services in foreign currency without its express authorization is still prohibited. The bank also similarly warned businesses against “engaging in foreign…

Bank of Spain Reminds Public Cryptocurrency Purchases Can Be Blocked in Certain Cases – Bitcoin News

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The Spanish central bank, Bank of Spain, has warned users about certain actions banks can take if they detect cryptocurrency purchases. In a post published on its web page, the institution explains that traditional banks have the ability to block these transactions if they suspect there are suspicious circumstances involved, such as those related to identity theft or money laundering. Bank of Spain Explains Crypto-Related Account Restrictions The Bank of Spain has issued a post explaining to users the potential actions that commercial banks can take when detecting…

Namibian Central Bank Announces Plan to Launch CBDC – Emerging Markets Bitcoin News

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Johannes Gawaxab, the governor of the Bank of Namibia (BON), has said his organization is planning to launch a central bank digital currency (CBDC). The governor, however, warns the launch might have implications for financial stability. BON Researching CBDCs The BON governor, Johannes Gawaxab, recently confirmed that the central bank is now planning to launch a CBDC. He confirmed the BON has already started researching CBDCs which, according to him, are now a “reality” that cannot be ignored. In remarks published by Namibia Daily News, Gawaxab hinted that the increased…

Russia’s Central Bank Slashes Benchmark Rate, Pegs RUB to Gold — Ruble Rebounds to Pre-War Levels – Economics Bitcoin News

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Amid the Ukraine-Russia conflict, the Russian ruble has managed to rebound despite the strict sanctions imposed against the Russian Federation. The country’s central bank has taken a few steps to protect the nation’s currency as the Bank of Russia revealed a fixed price for gold and rubles. Furthermore, after pegging the fiat currency to gold, on Friday Russia’s central bank announced a surprise interest rate cut that starts Monday. EU Leaders and Western Allies Create Stricter Sanctions Amid Ruble Rebound At the end of February, after the conflict started between…