Search Results for "reserve bank"
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.
India’s Central Bank Clears the Air on Cryptocurrencies not Being Outlawed
India’s central bank, the Reserve Bank of India (RBI), has stated that it had not prohibited cryptocurrencies, such as Ethereum and Bitcoin, in the nation as it only highlighted the risks linked to crypto trading to regulated entities like banks.
Fed Chairman Powell Says Central Bank Digital Currency Would Need to Coexist with Traditional Cash
While speaking at a virtual payments conference hosted by the Basel Committee on banking supervision, Federal Reserve Chairman Jerome Powell said that central bank digital currencies would need to be complementary to physical cash.
Why Cryptocurrency Is Not A Viable Global Reserve Currency to Replace the US Dollar
With the recent rise of cryptocurrency, there have been talks about the digital currency poised to become a global reserve currency, thus replacing the U.S dollar. Based on the virtual currency’s potential, it can become the next global hedge currency. But let us look at the facts in the financial market, especially from the dimensions of regulations, digital currency, and fiat currency. This move would help us understand whether the claims hold water.
Federal Reserve FOMC Meeting Inflation Targets Might See Bitcoin Price Retest $10,400 Resistance
Bitcoin traders await the Federal Reserve’s upcoming policy meeting on Wednesday to hear how the United States central bank will enact its inflation policy.
Bank for International Settlements Reveals Findings on Central Bank Digital Currencies
The Bank for International Settlements released its analysis report in which it evaluated central bank digital currencies globally.
Bank of Thailand Tests its Central Bank Digital Currency with Large Businesses Before Official Debut
The Bank of Thailand (BoT), Thai’s central bank, is already utilizing its central bank digital currency (CBDC) for financial transactions with various big businesses. This development ushers in the third development phase of the nation’s CBDC before a public debut.
South African Reserve Bank to Strictly Regulate Cryptocurrency in 2020
The South African Reserve Bank (SARB) is planning on introducing new regulations on cryptocurrency, which according to Kuben Naidoo, SARB deputy governor, will be fully implemented and enforced in the first quarter of 2020 and it brings to an end a deliberation that started since 2014.
CBDC Project will Help Enhance Japan's "Settlement System," Says Bank of Japan Executive
Bank of Japan's Kazushige Kamiyama has revealed that the country’s proposed central bank digital currency will enhance the country’s settlement system.
COVID-19 Relief Spurs Federal Reserve Towards Digital Payments with FEDNow
The Federal Reserve is accelerating towards digital payments technology as the COVID-19 pandemic has highlighted the need to provide faster methods of relief. The United States central bank has announced the development of its own platform—FedNow.
Fed Chair Powell Says Central Bank Will Engage with US Lawmakers On Digital Dollar
Federal Reserve Chair Jerome Powell says it will be up to United States lawmakers whether or not to bring a digital dollar to the market.
List of Important Resources on Central Bank Digital Currency (CBDC)
Blockchain has the potential to change the whole monetary and financial industry. But it still has a long way to go, as currently, the money issuance power is in the hands of central banks. The compromised way of welcoming blockchain technology in the monetary and financial industry are the central bank issued stablecoins - CDBC.