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Tag Archives: Central

Venezuela Looking to Launch a Central Bank for Cryptocurrencies

Venezuela is reportedly looking to lunch a central bank for cryptocurrencies, as the country’s National Constituent Assembly is preparing to reform the Venezuelan Constitution to include it, along with a court above its Supreme Court. According to Reuters, information on the development was provided by Hermann Escarrá, which the outlet describes as “one of the most influential members of the ...

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Blockchain Startup Signs MOU With Central Bank of Curaçao and Sint Maarten

Barbados-based fintech startup Bitt Inc. has signed a Memorandum of Understanding (MOU) with the Central Bank of Curaçao and Sint Maarten (CBCS) to research the possibility of issuing a digital guilder, according to an August 12 press release. The parties signed the MOU in order to develop a central bank digital currency to facilitate financial payments within the monetary union ...

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Ban U-Turn? India’s Central Bank Admits Cryptocurrency Regulation is Necessary

In a first, India’s central bank has called for the regulation of the domestic cryptocurrency sector during Friday’s hearing at the Supreme Court, weeks after enforcing a banking ban against crypto companies. Earlier in April, the Reserve Bank of India (RBI) issued a circular that forbade all financial institutions – banks included – from offering services to businesses in the ...

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Central Bank Digital Currencies ‘Will Reshape Competition’ in Crypto Market

A study on issues of competition in fintech, commissioned by the European Parliament Committee on Economic and Monetary Affairs (ECON), was published July 20. It found that central bank-issued digital currencies could be a “remedy” for a lack of competition policy in the crypto sector: “The arrival of permissioned cryptocurrencies promoted by banks, even by central banks, will reshape the ...

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Vietnam’s Central Bank Approves Call to Suspend Import of Cryptocurrency Miners

Vietnam is closing in on a sweeping move to – temporarily – ban the import of ASIC cryptocurrency mining equipment after the central bank approved the proposed plan. The State Bank of Vietnam (SBV), the country’s central bank, is in agreement with a government ministry’s proposal to suspend imports of cryptocurrency miners, local publication Vietnam News reported on Thursday. As ...

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India’s KoinEx Loop Platform Offers INR Trading Despite Central Bank Ban

The cryptocurrency market situation in India is changing fairly quickly. The country’s Reserve Bank maintains a ban on cryptocurrency trading with the INR, but a new business model is emerging. KoinEx, one of the many platforms in the country, is now launching a LocalBitcoins competitor to continue exposing clients to Bitcoin and select altcoins. KoinEx Loop Is a Game Changer ...

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Central Bank Digital Currency ‘One of the Worst Financial Ideas’

The U.S. Congressional Subcommittee on Monetary Policy and Trade discussed major questions around digital currencies in a hearing today, July 18. The hearing, entitled “The Future of Money: Digital Currency,” considered potential domestic and global implementations of cryptocurrencies. At the hearing, the Subcommittee discussed the deployment of cryptocurrency and its underlying technology, blockchain, by central banks, arguing whether central banks ...

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India’s Central Bank Spells Out Crypto Objections as Panel Readies Regulations

The Reserve Bank of India (RBI), which admitted last month that it clamped down on cryptocurrencies without much discussion, has expanded on its objections, as a government panel considers a draft of regulations. The central bank instructed banks in April to close cryptocurrency accounts in the first week of July. The concerns include the currencies’ insufficient intrinsic value, investor protection ...

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