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“# Trading Bitcoin’s like trading stamps, says Swedish central bank governor ” The governor of Sweden’s central bank, the Sveriges Riksbank, has dismissed Bitcoin (BTC) as an altogether far-fetched alternative to government-backed fiat currencies. Speaking at a banking conference in Stockholm, Governor Stefan Ingves argued, “Private money usually collapses sooner or later.” In a further…
“# Bitcoin transactions ‘akin to bartering,’ Bank of Mexico governor says ” The governor of the Bank of Mexico, Alejandro Díaz de León, dismissed Bitcoin’s (BTC) position as a reliable legal tender, citing price volatility as a major roadblock towards full-fledged adoption. Governor Díaz de León said in a Reuters interview that Bitcoin’s position in…
“# As Bitcoin debuts in El Salvador, Honduras and Guatemala study CBDCs ” Two Central American countries, Honduras and Guatemala, are taking a cue from their common neighbor’s adoption of Bitcoin (BTC), but they are taking a very different road. Instead of embracing an existing cryptocurrency as a legal tender, like what El Salvador did,…
“# Roxe hires ex-IMF economist to lead Bitcoin-backed CBDC project ” Global payment network Roxe has recruited a seasoned economist from the International Monetary Fund, or IMF, to help lead its central bank digital currency project backed by Bitcoin’s (BTC) hashrate. Andreas Jobst, whose career spans the IMF, World Bank and Bermuda Monetary Authority, has…
“# Australia, Singapore, Malaysia and South Africa launch joint CBDC pilot ” The central banks of Australia, Singapore, Malaysia and South Africa have announced a joint initiative to trial international settlements using central bank digital currencies (CBDCs). The initiative, dubbed Project Dunbar, will prototype shared platforms enabling direct transfers between institutions using digital currencies issued…
“# Crypto does not qualify as currency, says South Africa’s central bank governor ” Lesetja Kganyago, governor of the South African Reserve Bank (SARB), has argued against classifying crypto as currencies. According to a report by MoneyWeb, the central bank chief likened crypto to assets rather than currency during an interactive session at the Wits…
“# Nigeria’s central bank issues draft guidelines on eNaira CBDC project ” The Central Bank of Nigeria (CBN) has issued preliminary guidelines for its proposed eNaira digital currency. In a sensitization document sent to commercial banks in the country, the CBN outlined several design features of the central bank digital currency (CBDC). According to the…
“# India CBDC pilot may commence in December, says RBI governor ” The Reserve Bank of India could commence preliminary central bank digital currency (CBDC) trials before the end of the year. Speaking to CNBC on Thursday, RBI governor Shaktikanta Das said that the central bank was “being extremely careful” in its handling of a…
“# El Salvador’s Bitcoin adoption may transform remittance in Central America ” The Central American Bank for Economic Integration (CABEI) has identified remittance as an important aspect of El Salvador’s Bitcoin (BTC) adoption policy. According to Reuters on Tuesday, the regional development bank expects other Central American nations to pay close attention to Bitcoin’s impact…
“#Fed ‘actively working’ on US digital currency, official says” Dallas Federal Reserve President Robert Kaplan said on Friday he could see the US central bank eventually issuing its own digital currency, calling it the “last mile” in a digitalization of the payment system that is already in train. “I would imagine in the years ahead…