The European Central Bank (ECB) has published its second report on the feasibility of launching a digital euro. It updates the progress made since the first report, published in September 2022. This includes information on how a digital euro would work in practice, such as the role of intermediaries, the settlement model, and the distribution…
Bitcoin deep dive: 15M BTC in self-custody as Binance withdrawals peak, derivatives switch to ‘risk-off’ A weekly recap of key Bitcoin metrics affecting its price performance in the market, published every weekend. James Van Straten · 4 days ago
Nigeria lawmaker Babangida Ibrahim said that the country is set to recognize cryptocurrencies as an investment class in its proposed investments and securities amendment bill, local Punch news reports. The amendment bill passed the second hearing will allow the Nigerian Securities and Exchange Commission (SEC) to recognize cryptocurrency as capital for investment. About a year…
Sweden’s central bank, Riksbank, is preparing to introduce a possible central bank digital currency (CBDC) — the e-krona — according to a Dec. 15 statement. Riksbank said that it is “ready to be able to issue an e-Krona” if Sweden’s legislature, the Riksdag, chooses to proceed with the asset’s creation. The central bank said it…
A digital pound could be launched in the U.K. as part of the country’s effort to introduce better regulation to the crypto industry. Jeremy Hunt, the Chancellor of the Exchequer, announced that the government will begin exploring a central bank digital currency in the coming weeks. Hunt said that the U.K.’s financial regulatory framework “must…
A new report by the Bank of Indonesia highlights the country’s 2023 economic growth plan which will include the digitalization of payment systems and the creation of a Digital Rupee. This will comprise increasing the availability and use of digital payments, such as e-wallets and online banking. The government has been actively promoting the use…
Tom Emmer Congressman for Minnesota House of Representatives Thomas Earl Emmer Jr is an American attorney and politician who has been the United States representative for Minnesota’s 6th congressional district since January 2015. Learn More Info LinkedIn Twitter
Several Indian news outlets have reported on the lack of interest in the digital rupee. The Hindu Business said it offers no discernible difference with “internet-based banking that users were already satisfied with.” Early reports reveal low trade volumes, forcing banks to retain administrative burdens for cash. Central Bank Digital Currencies (CBDCs) are intended to…
According to a newly released report by the ECB, Bitcoin is in the final stages of becoming irrelevant due to its many shortcomings. The report stated that Bitcoin’s value stems from mere speculation, and its recent stability was the result of price manipulation. Despite being touted as a revolutionary payment system and an investment asset,…
The Reserve Bank of India (RBI), the country’s central bank, is finalizing the rollout of the retail digital rupee pilot, the Economic Times of India (ETI) reported on Nov. 19. The RBI initiated the wholesale central bank digital currency (CBDC) pilot on Nov. 1 to test its usage in settling transactions in government securities. At…