currency

Rep. Waters calls on Biden to reverse policies that let banks custody cryptocurrencies and stablecoin reserves

Federal Reserve publishes long-awaited central bank digital currency report

The US Fed’s long-awaited report on central bank digital currencies dropped Thursday afternoon. Framed as a discussion paper, the Fed notes in its introduction release that it “examines the pros and cons of a potential U.S. central bank digital currency, or CBDC.” “It invites comment from the public and is the first step in a …

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Bitcoin could 'violate the framework' through which digital currency is viewed, if...

Bitcoin could ‘violate the framework’ through which digital currency is viewed, if…

Real-world factors often influence Bitcoin prices. At this very moment, crypto investors are struggling to keep their two eyes on a dizzying number of variables: the COVID-19 pandemic, crypto regulations worldwide, the Federal Reserve’s actions, government bonds, and many more. To that end, investment analyst Anthony Pompliano discussed a surprising trend that several other market …

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Canada Needs a Loonie-Linked Digital Currency, Policy Experts Say

Canada Needs a Loonie-Linked Digital Currency, Policy Experts Say

Such a feat by the Bank of Canada will require any potential stablecoins to be well designed and regulated to make them attractive to Canadians, Zelmer and Kronick wrote. The digital currency should also be issued in token form, with decentralized technology for settling transactions, allowing Canadians to retain most of the benefits of a …

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Rand Paul asks whether crypto could 'become the reserve currency of the world'

Rand Paul asks whether crypto could ‘become the reserve currency of the world’

advertisement In an interview with Axios, Senator Rand Paul got optimistic about crypto’s role in the world’s financial system. “The government currencies are so unreliable,” said Paul. “I’ve started to question now whether or not cryptocurrency could actually become the reserve currency of the world as more and more people lose confidence in government.” The …

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Nigeria to Launch Its ENaira Digital Currency on Monday: Report

Nigeria to Launch Its ENaira Digital Currency on Monday: Report

The Central Bank of Nigeria (CBN) will launch its digital currency, the eNaira, on Monday, Bloomberg reported. The eNaira, which is intended to complement the physical Naira rather than replace it, will “make financial transactions easier and seamless for every strata of the society,” the CBN said in emailed statement on Saturday, according to the …

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After El Salvador, will Paraguay be the next to make Bitcoin 'official currency'

After El Salvador, will Paraguay be the next to make Bitcoin ‘official currency’

El Salvador’s adoption of Bitcoin as legal tender this month kindled national ambitions across Central and South America. In Paraguay, congressman Carlitos Rejala excited Bitcoin supporters, when his recent tweeted suggested Bitcoin would be the “official currency” if he became President in 2023. Si nos jugamos a la Presidencia en el 2023!#bitcoin cómo moneda oficial …

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Here are the conditions for Dogecoin to become a viable currency

Here are the conditions for Dogecoin to become a viable currency

Dogecoin’s year-to-date gains of 6580% have made a serious case for its inclusion across top portfolios. Although DOGE’s success has faced constant scrutiny, the meme coin remains unaffected by it. At the time of writing, DOGE was trading just below the $0.41 mark. One of the coin’s faithful promoters, Mark Cuban of the Dallas Mavericks …

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Bank of England, HM Treasury establish new taskforce to explore digital currency

Bank of England, HM Treasury establish new taskforce to explore digital currency

The Bank of England and HM Treasury have jointly created a taskforce to explore a potential central bank digital currency (CBDC) in the U.K. Announcing the news on Monday, the two government authorities said they have not yet decided whether to introduce a CBDC in the U.K. but will explore its use cases and risks. They will …

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Bank of Japan to begin central bank digital currency experiments later this year

Bank of Japan to begin central bank digital currency experiments later this year

The Bank of Japan (BOJ) will start experiments on a central bank digital currency (CBDC) this spring, according to central bank governor Haruhiko Kuroda. Reuters reported today that Kuroda said the bank must “prepare thoroughly” to issue a CBDC. That includes experimenting with how it would operate a digital yen during the course of this …

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India's central bank says it is exploring the possibility of digital currency

India’s central bank says it is exploring the possibility of digital currency

The Reserve Bank of India (RBI), the country’s central bank, has said that it is exploring the need for digital currency. In a booklet on payment systems published Monday, the RBI said if there is a need for a digital rupee, it will explore how to operationalize it. “Private digital currencies (PDCs) / virtual currencies …

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