Sub-saharan Africa recorded $100.6 billion worth of crypto transactions on-chain between July 2021 and June 2022, according to a Chainalysis report. While it represented a growth of 16% year-over-year, it accounted for only 2% of global crypto transactions — the lowest in the world. However, the latest Chainalysis report indicates that the region has some…
Sweden’s central bank, the Riksbank, along with the central banks of Israel and Norway and the Bank for International Settlements (BIS), is exploring the use of a central bank digital currency (CBDC) for immediate retail and international remittance payments, according to a Sept. 28 release. The collaboration between the central banks and BIS is titled…
US lawmakers warn that Facebook, Instagram are ‘becoming breeding ground’ for crypto scams An FTC report states that Meta’s Instagram facilitated 32% of scams reported on social media, while Facebook and WhatsApp were cited 26% and 9% of the time, respectively. 2 weeks ago · 2 min read
Bitcoin payment provider OpenNode will test its bitcoin payment solution in Bahrain following approval by the Central Bank of Bahrain. The CBB launched its Regulatory Sandbox in 2017, to allow FinTech startups to experiment with innovative banking and financial solutions under friendly regulatory oversight. OpenNode will leverage the the central bank’s Regulatory Sandbox framework to…
Russia’s Prime Minister Mikhail Mishustin has directed the country’s financial regulators and other relevant state authorities to “develop an agreed position” for crypto regulations by Dec. 19. According to the directive, Russia’s Ministry of Finance, alongside the Bank of Russia, Rosfinmonitoring, the Federal Tax Service, and the FSB, must work together to “draft federal laws”…
Ripple’s (XRP) advisor on central bank digital currency (CBDC), Anthony Welfare, revealed that the company has “several pilots” in the works related to CBDCs which will be made public in the coming weeks. Thanks @sentosumosaba for the mention – make sure you follow me for more CBDC announcements in the next few weeks 👌👌👌 —…
Deputy Finance Minister Alexey Moiseyev has confirmed that Russia is working with crypto-friendly countries to facilitate cross-border payments using stablecoins as sanctions from U.S and U.K. mount, local news TASS reported on Sept. 6. The Finance Minister and Central Bank had earlier agreed that Russia can’t do without cross-border settlements in cryptocurrency. Consequently, Russia is developing…
Russia’s central bank has revealed that the country could re-consider using crypto for international payments, local news agency TASS reported on Sept. 5. According to the report, Russia’s Deputy Finance Minister Alexei Moiseev said the apex bank and the finance ministry could legalize crypto payments soon. Moiseev continued that Russians’ reliance on foreign platforms for crypto…
World Economic Forum (WEF) published its dynamic take on CBDCs in a blog post titled, “What are central bank digital currencies (CBDCs)?” on August 31, following The Reserve Bank of Australia’s central bank’s (RBA) plans to launch a CBDC pilot project. On 9 August, The Reserve Bank of Australia’s central bank (RBA) announced in a…
The biggest news in the cryptoverse for Sept. 2 includes CZ saying that Binance is not incorporated in China, Cardano’s Vasil upgrade scheduled for Sept. 22 and U.S. regulators proposing amendments for large hedge fund reporting. CryptoSlate Top Stories CZ denies claims that Binance is in ‘the pocket of the Chinese government’ Changpeng ‘CZ’ Zhao…