Category: Central Bank

Central Bank of Ireland Governor Talks Crypto, Praises ‘Secure, Decentralized’ Technology

Central Bank of Ireland Governor Talks Crypto, Praises ‘Secure, Decentralized’ Technology

Gabriel Makhlouf, the governor of the Central Bank of Ireland (CBI), has published a blog post in which he shares his views on the digitalization of finance. While echoing concerns expressed by his counterparts regarding cryptocurrencies, the official has also highlighted some of their positives. Don’t Ignore the Positive Elements of Crypto Technology, Central Bank […]

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Bank of Russia Exposes Nearly 150 Financial Pyramid Scams, Fraudsters Exploit Crypto Craze

Bank of Russia Exposes Nearly 150 Financial Pyramid Scams, Fraudsters Exploit Crypto Craze

The Central Bank of Russia (CBR) has identified 146 financial pyramid schemes in only six months this year. Fraudsters often lure people with weak financial literacy into investment scams linked to cryptocurrencies or crypto mining operations. Pyramid Schemes Thrive Amid Rising Investment Demand, Bank of Russia Says The number of financial pyramid scams uncovered by […]

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Easy-Money Policy Continues: Fed Plans to Keep Purchasing Assets, Interest Rates to Stay Near Zero

Easy-Money Policy Continues: Fed Plans to Keep Purchasing Assets, Interest Rates to Stay Near Zero

Members of the U.S. Federal Reserve discussed the possibility of economic measures and actions at the Federal Open Market Committee’s (FOMC) meeting on Wednesday. The Fed said that right now the central bank is not considering cutting back large asset purchases just yet, and the central bank also plans to keep interest rates at near-zero. […]

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Digital Euro to Handle ‘Almost Unlimited’ Payments, Estonian Central Bank Says After Test

Digital Euro to Handle ‘Almost Unlimited’ Payments, Estonian Central Bank Says After Test

A blockchain-based digital euro would be highly scalable allowing it to process an almost unlimited number of payments, the central bank of Estonia has concluded following a recent experiment. Central banks from several euro area countries and the ECB participated in the test, which also professed to show the digital currency’s carbon footprint would be […]

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Report: Nigeria to Start Piloting Digital Currency in October

Report: Nigeria to Start Piloting Digital Currency in October

The Central Bank of Nigeria (CBN) has reportedly set October 1 as the commencement date for the trial phase of its digital currency project. Dubbed project Giant, this digital currency project, or the “e-naira,” is expected to use the Hyperledger Fabric blockchain. CBDC Comes to Life The revelation of the launch date for Nigeria’s central […]

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French Central Bank Conducts Fifth Experiment on Tunisia CBDC

French Central Bank Conducts Fifth Experiment on Tunisia CBDC

The French central bank, Banque de France (BOF), recently carried out its fifth experiment on the Central Bank of Tunisia (CBT)’s central bank digital currency (CBDC). According to a statement from BOF, the latest experiment is part of the banks’ joint effort to create conditions that are “conducive to a better inclusion of the Tunisian […]

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As the Stock Market Dives Report Shows ‘US Households Now Have Record High Exposure to Stocks’

As the Stock Market Dives Report Shows ‘US Households Now Have Record High Exposure to Stocks’

While inflation has kicked up in the U.S., following the massive stimulus issued by the Federal Reserve, investor and financial writer Lyn Alden Schwartzer published a report that shows “U.S. households now have record high exposure to stocks.” The news comes at a time when many analysts and economists believe equities markets are in a […]

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China publishes first e-CNY whitepaper, confirming smart contract programmability

China publishes first e-CNY whitepaper, confirming smart contract programmability

The People’s Bank of China (PBoC) has published a whitepaper for the country’s central bank digital currency for the first time, marking yet another step toward its official rollout. The PBoC issued a whitepaper on Friday for its digital yuan project, also dubbed the e-CNY, which notably confirms that the digital fiat currency is designed […]

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Fed chair Powell ‘legitimately undecided’ on benefits of an American CBDC

Fed chair Powell ‘legitimately undecided’ on benefits of an American CBDC

In testimony before the Senate Banking Committee on July 15, Federal Reserve chairman Jerome Powell reiterated his uncertainty as to whether the Fed would proceed with the development of a central bank digital currency or CBDC. “I’m legitimately undecided about whether the benefits outweigh the costs of a CBDC,” said Powell.  Senator Pat Toomey (R-PN), […]

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Digital Euro Project Gets Going as ECB Launches Investigation Phase

Digital Euro Project Gets Going as ECB Launches Investigation Phase

After months of deliberation, the European Central Bank has decided to proceed with a digital euro project. Officials insist the new version of Europe’s common currency should “ensure privacy” and provide access to “the safest form of money” at a “negligible” cost to the environment, in comparison with bitcoin. Eurosystem Initiates Digital Euro Project The […]

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