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“# Central bank tells Thai banks not to offer crypto trading ” The Bank of Thailand has stated that it does not want commercial banks to be directly involved in the trading of crypto assets. The edict came from central bank senior director Chayawadee Chai-Anant on Dec. 7 who cited risks associated with high price…
“# Smart crypto policy could keep India’s tech dominance on top ” There’s no denying that the Indian government shares a contentious relationship with cryptocurrencies, as was made clear recently when the government indicated that it plans on banning all private cryptocurrencies — a list that could potentially include just about every digital asset in…
“# Japan’s financial regulators may propose legislation in 2022 restricting stablecoin issuance ” According to The Nihon Keizai Shimbun (Nikkei), one of the world’s largest financial newspapers and the entity behind the Nikkei 225 stock index, Japan’s Financial Services Agency, or FSA, will propose legislation next year restricting stablecoin issuance to only bank and wire…
“# Bank of International Settlement calls the rise of decentralized finance ‘an illusion’ in latest quarterly review ” On Monday, the Bank of International Settlement, or BIS, a financial institution owned by central banks worldwide, published a report scrutinizing the development of the decentralized finance, or DeFi, industry. The article opened by saying, “There is…
“# Lummis says Fed is ‘violating the law’ with Wyoming blockchain bank delays ” Republican senator for Wyoming Cynthia Lummis has argued that the Federal Reserve is “violating the law” by delaying the processing of applications from crypto-native banks to receive accounts at the central bank. In a Nov. 30 op-ed for the Wall Street…
“# CBDC is a tool to combat Bitcoin, says Bank of Indonesia exec ” Central bank digital currencies (CBDC), digital versions of national currencies introduced in response to growing cryptocurrency adoption, would be an essential tool for combating crypto, according to the Bank of Indonesia. The central bank of Indonesia is considering launching a digital…
“# Tanzania reportedly makes plans to launch CBDC ” The Bank of Tanzania is reportedly planning to introduce a central bank digital currency, or CBDC, for the African nation after neighboring countries announced similar initiatives. According to a Friday Bloomberg report, Bank of Tanzania Governor Florens Luoga said on Thursday that Tanzania was planning to…
“# Russians transact $5B in crypto each year, Bank of Russia says ” Russian people are among the world’s most active participants of the cryptocurrency market, according to the country’s central bank. The Bank of Russia published a fresh review on financial stability on Thursday, pointing out the country’s growing role in the $2.8 trillion…
“# Southeast Asian financial institutions turn to the Ethereum blockchain ” Blockchain innovation is surging throughout Southeast Asia, as the region is home to a number of fintech firms and global crypto companies. In particular, Singapore has become one of the world’s most crypto-friendly countries. This was recently highlighted in a report conducted by crypto…
“# Digital currencies won’t impact US sanctions, Treasury exec says ” Central bank digital currencies (CBDC) like Russia’s digital ruble do not pose any threat to United States sanctions, according to U.S. Deputy Treasury Secretary Wally Adeyemo. In a CNBC interview on Wednesday, Adeyemo argued that the U.S. dollar “will remain the dominant currency in…