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Coinspeaker Bank of Canada Drops Central Bank Digital Currency (CBDC) Plans A Bank of Canada spokesperson stated that the bank has undertaken “significant research on the implications of a retail central bank digital currency". Bank of Canada Drops Central Bank Digital Currency (CBDC) Plans
The Bank of Canada has reportedly shifted its focus away from the idea of introducing a digital Canadian dollar. The Bank of Canada seems to be shifting its focus away from developing a government-backed digital currency, seven years after it…
DBS Bank, Singapore’s largest bank, has announced plans to launch over-the-counter (OTC) crypto options trading and structured notes for institutional clients in Q4 2024. This new offering will allow institutional investors to gain exposure to bitcoin and ethereum, the two largest cryptocurrencies b…
An Indian High Court has ruled that police cannot freeze entire bank accounts during fraud investigations. Only fraud-related amounts in bank accounts can be frozen. The decision followed a case where an account was frozen due to a cryptocurrency investigation. The court stressed that freezing accou…
China’s digital yuan initiative has advanced considerably, backed by over a decade of research and four years of pilot experimentation, according to Lu Lei, Deputy Governor of the People’s Bank of China (PBOC). Trials for the Chinese central bank digital currency (CBDC) have been conducted in 17 dif…
The Central Bank of Brazil disclosed a new set of use cases that will be part of the second phase of the ongoing pilot of its drex CBDC. Among the 13 instances selected from the 46 presented are platforms for tokenizing real estate, liquidity pools for trading public securities, and even automating …
Zambia’s latest move to restrict foreign currency use in domestic transactions is aimed at stabilizing its currency, the kwacha, according to central bank Governor Denny Kalyalya. The Bank of Zambia announced this initiative in June and is still consulting market participants, with no set implementa…
The US Federal Reserve said it identified “significant deficiencies” in the bank’s dealings with crypto clients and its risk management procedures.
The Federal Reserve issued a cease-and-desist order to United Texas Bank for major compliance deficiencies in anti-money laundering regulations concerning its crypto clients.
In a recent press release, the Central Bank of Argentina acknowledged sending part of its gold holdings abroad, stating that it had “recalibrated” the nation’s gold between its accounts. The institution faced criticism from some lawmakers who are concerned that this gold located abroad might be subj…
The Bank of Canada cuts interest rates by 25 basis points as inflation cools. The bank cited cooling inflation pressures and economic growth in line with previous projections. Crypto enthusiasts are keen on the markets as Bitcoin bulls look ahead for positive macroeconomic factors. Bank of Canada Cu…
Libya’s central bank governor, Sadiq al-Kabir, has fled the country due to threats and intimidation from armed militias. He claims that these actions are aimed at forcing him and other bank staff to return to work and comply with the interim Prime Minister’s attempts to replace him. For his part, Ka…