Search Results for "local banks"
Zimbabwe’s Central Bank Finally Takes a Big U-Turn to Regulate Cryptocurrencies
Reserve Bank of Zimbabwe, the country’s central bank, revealed that it would develop a regulatory framework to check operations of companies dealing with cryptocurrencies. The Chronicle, the local newspaper, reported that the Reserve Bank of Zimbabwe (RBZ) has already begun drafting a policy framework to guide business activities of cryptocurrency firms.
China’s Major State-Run Commercial Banks Test CBDC Digital Wallet
China’s major state-run banks are testing out its central bank digital currency (CBDC) digital wallet application. The Chinese central bank, having said that its CBDC, also known as digital currency electronic payment (DCEP), is “almost ready,” is finally moving a step closer to its official launch nationwide.
Response to Facebook Libra? EU Banks Can Deploy Payment System By 2020
All banks in the eurozone could share the instant payment system at the end of 2020, as reported by Reuters on 26 June.
Bank of Korea Speeds up Digital Currency Research, States Central Banks are Driven towards DLT
The Bank of Korea (BoK), South Korea’s central bank and monetary issuer, has released its research on the use of digital currencies and blockchain technology for the banking industry.
IMF Believes Central Banks Need Strong Legal Frameworks for CBDCs to Work
The issuance of CBDCs by apex global banks has become a hot topic in the crypto space, and the IMF has delved into it with some precautionary measures.
Chinese Banks Clarify on Crypto Account Freezing Despite Alipay’s Crypto Ban Last Year
China’s banks were rumored to be freezing client accounts that have a history associated with the buying and selling of cryptocurrencies. However, according to a recent report, Chinese banks have clarified that this is not the case, and they are not shutting down any legal fiat to crypto accounts.
Argentina Orders Stricter Monitoring on Local Crypto Transactions Amid Battling the Flight of Devalued Pesos
Argentina’s Financial Information Unit (FIU) has ordered stricter controls and monitoring into cryptocurrency transactions in the country to eradicate money laundering and other illicit activities. Argentine newspaper El Cronista reported that the FIU, a government agency that is responsible for enforcing anti-money laundering laws and compliance, is looking to tighten its controls on cryptocurrency trading.
China's Blockchain Initiative Hits Roadblock as Stakeholders Refuse to Share Private Data for Free
China’s blockchain initiative is going ahead full steam, but local and provincial officials are facing some resistance from stakeholders who are not enthusiastic about sharing their data.
FinCEN Director Kenneth Blanco Warns Banks to Take Crypto AML Seriously
Kenneth Blanco, the Director of the FinCEN warned banks to seriously consider how virtual currencies should fit into their anti-money laundering (AML) policies.
eToro CEO: Central Banks will Inevitably Establish Digital Currencies
Yoni Assia, eToro’s CEO, recently weighed in on the issue of Central Bank Digital Currencies. He noted that this matter was no longer an issue of “if,” but of “how and when” because the development of digital currencies by central banks was inevitable.
Federal Reserve Has Been Advancing CBDC Research with US Regional Banks’ Contributions
The Federal Reserve's research and development on a central bank digital currency issuance has been complemented by several regional Federal banks' efforts.
India Considers New Law to End Crypto Trading Despite Numerous Overturns by the Supreme Court
The Indian government is planning to bring in a new law to ban cryptocurrency trading, following the prohibition of banks and financial services to provide services related to crypto.