For CBDCs, the central bank controls the digital currency and oversees transactions, potentially allowing it to take actions such as freezing funds, blacklisting digital wallet addresses, and directly incentivizing individuals to spend their money (as opposed to saving it), especially if the CBDC is programmable. Source
Standard Chartered Bank is the latest to give its predictions on the impact Spot Bitcoin ETFs could have on Bitcoin’s price in the long term. The bank took a bullish stance as they predicted that BTC could rise to unprecedented heights by the end of 2025. Bitcoin Could Hit $200,000 By End Of 2024 According to a report by Standard Chartered shared on the X (formerly Twitter) platform, BTC’s price could reach $200,000 by end-2025. There is the potential for Bitcoin to hit this price level with $50 to $100…
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. A spot Bitcoin ETF by Fidelity was recently listed on the DTCC website. This development might push Bitcoin prices further, generating a positive outlook for other cryptocurrencies. Meanwhile, an anonymous Ethereum whale is doubling down on InQubeta (QUBE). This project merges artificial intelligence (AI) and blockchain technologies. This article explores why the Ethereum whale considered InQubeta as Fidelity’s spot ETF lists on DTCC. InQubeta presale success InQubeta is a platform that…
Nigeria’s push to increase oversight of digital assets aligns with recent initiatives from neighboring African nations, where cryptocurrencies have become increasingly popular as hedges against inflation. In 2022, Botswana passed a law regulating the digital assets sector despite opposition from some lawmakers in the country. Meanwhile, the Bank of Mauritius has been planning to launch a central bank digital currency, Bloomberg News reported. Source
Nigeria’s apex bank expanded on its decision to reverse a crypto ban on financial service providers, providing clear rules to oversee operations moving forward. The Central Bank of Nigeria (CBN) announced stringent rules for banks as the watchdog pivoted away from a blanket crypto ban toward regulation for virtual asset service providers, citing a need to align with global trends underpinned by blockchain technology and digital assets. According to the CBN, operators like crypto exchanges and digital asset brokers can only open naira-denominated bank accounts. Nigeria’s top bank also said…
“With the new policy fostering a regulated environment, Yellow Card anticipates a surge in user adoption and engagement in the coming months,” Lasbery Oludimu, the company’s chief data protection officer, told local news outlet Nairametrics on Wednesday. “The clarity provided by the regulatory framework instills trust and confidence among users, attracting more individuals and businesses into the crypto space.” Source
The Monetary Policy Committee of the Central Bank of the Republic of Turkey has named Professor Fatma Ozkul, a prominent specialist in blockchain technology and crypto assets, to the position. This appointment was made by President Recep Tayyip Erdoğan of Turkey. This appointment, which will take effect on December 23, 2023, represents a substantial integration of blockchain and cryptocurrency knowledge within the framework of the nation’s monetary policy. According to President Erdoğan, the hiring of Professor Ozkul is a component of a more comprehensive plan aimed at reorganizing Turkey’s economic…
The Central Bank of Nigeria (CBN) has lifted its previous prohibition on cryptocurrency transactions. This move, unveiled in a circular dated Dec. 22, 2023, signifies a significant shift in Nigeria’s stance on the burgeoning crypto market in the country. The relaxation of the ban was signed into effect by Haruna Mustafa, the director of the financial policy and Regulation Department at CBN. CBN issues crypto guidelines The circular outlines the procedural guidelines for banks and financial institutions to facilitate crypto transactions, focusing on account openings, foreign exchange (forex) inflows and…
This registration will let Ripple offer its certain digital assets services to clients within Ireland. Ripple has officially revealed that the Central Bank of Ireland (CBI) added its Irish entity Ripple Markets Ireland Limited (Ripple Markets) to the list of registered VASPs (Virtual Asset Service Providers). Now, after gaining this registration in Ireland, Ripple be working on the expansion of its services within the European Economic Area. This will become possible in case of gaining all the necessary licenses under the MiCA regulation that is expected to come in force…
The minor alternative stablecoin, which has an $11 million market cap, dropped from its normal price of $0.97 to as low as $0.39 Monday after a shakeup in ibEUR’s main trading pool left the asset’s markets imbalanced. At press time ibEUR had recovered to $0.72 after risk-prone traders piled in, hoping for a path back to – or at least closer to – its supposed Euro peg. Source