financial system
G20 Discusses Crypto Regulations Under India Presidency
G20 members reviewed technological advancements and dangers during the FMCBG conference on Feb. 24–25.
Ripple CEO Reveals Missing Key Factor for Crypto and XRP to Be the Infrastructure of the Next Global Financial System
Ripple CEO Brad Garlinghouse explained what was crucial in the cryptocurrency sector for it to be revamped and integrated into the next global financial system.
BIS Conference Addresses Cybersecurity in Central Bank Digital Currencies (CBDC)
Agustín Carstens, General Manager of the Bank for International Settlements, highlighted the importance of cybersecurity for central bank digital currencies (CBDCs) during a conference in Basel, Switzerland, emphasizing the need for secure, user-friendly, and adaptable systems.
The Fate of Cryptocurrencies in a Fast-Changing Financial Ecosystem
Cryptocurrency being a digital currency, created and managed through the use of advanced encryption techniques known as cryptography has been gradually modifying the world of finance as well as other sectors such as e-commerce and since its creation in 2009.
Majority of American Adults Believe Financial System Favors Powerful Interests, 20% Own Cryptocurrency
80% of American adults believe the financial system favors those with powerful interests, according to a survey by Coinbase. The survey of over 2,000 American adults also found that 67% of respondents called for a major overhaul of the financial system. Despite recent negative news about cryptocurrency, the survey found that 20% of respondents own cryptocurrency, and a third plan to buy, sell or trade cryptocurrency in the next year.
The Federal Home Loan Banks System is lending to cryptocurrency
The FHLB is lending billions to two of the top bitcoin banks. According to WSJ, FHLB loans might minimise cryptomarket outflows.
Australian crypto executives urge caution on regulation
Crypto CEOs warn against classifying all digital assets as financial instruments. Assistant Treasurer Stephen Jones said he was "not that enticed" to creating new rules for a financial product. According to the Sydney Morning Herald, Australian financial authorities support recognising all crypto assets as financial products (SMH). SMH editor-in-chief David Jones argues the FTX crash proves crypto regulation is needed.
G20 Agency Warns Countries of Systemic Risks Posed by Global Stablecoins
The Financial Stability Board (FSB), the G20 body that advises on ways to improve the global financial system, has published a study on the challenges, which stablecoins pose for the global economy. The FSB stated that regulatory frameworks have already covered several activities associated with stablecoins, although there are other risks that many national regulators could be left unprepared for.
OKX Global Ad Campaign Argues for a Decentralized Future
Crypto exchange OKX has launched a global ad campaign that argues for the need to rewrite the centralized financial system and embrace the decentralized nature of Web3. Produced in collaboration with BBDO New York, the campaign takes aim at the outdated ways of traditional finance, positioning OKX as a leader in the crypto space.
Israeli Central Bank Official Embraces CBDC Competition with Banks for Economic Growth
In a recent speech, Bank of Israel Deputy Governor Andrew Abir expressed his support for the competition between commercial banks and the forthcoming Central Bank Digital Currency (CBDC) known as the digital shekel. Abir believes that the digital shekel has the potential to enhance competition in the financial system and benefit the economy as a whole.
Cardano’s Project Catalyst: Building a Decentralized Financial System to Remove "Top-Down" Governance
In order to fulfill the final components for Cardano’s Voltaire, including its evolution into a self-sustainable blockchain, IOHK introduced a new experimental treasury system combining proposal and voting procedures — Project Catalyst.
iSunOne-MPC Partnership to Develop First-Ever Islamic Financial Blockchain System in Malaysia
A collaboration between MPC and iSunOne is set to revolutionize the Islamic financial structure with blockchain technology.
China’s First National Level Blockchain Cross-Border Financial System Goes Live
China Guangfa Bank (CGB), a major Chinese bank, has officially launched the blockchain-based cross-border financial service platform on June 15, with the guidance of the Guangdong Branch of the State Administration of Foreign Exchange.
Blockchain Brings Monetary and Financial Freedom
We look at three key aspects (money form, money issuance, and the flow of money) of our monetary and financial system where the blockchain technology may have a major impact
Fighting for Monetary and Financial Freedom
We look at three key aspects (money form, money issuance, and the flow of money) of our monetary and financial system where the blockchain technology may have a major impact
Australian Securities Exchange Postpones Migration to Blockchain Settlement System Due to Coronavirus Concerns
The Australian Securities Exchange has further postponed the replacement of its current CHESS system with a new blockchain-based settlement system due to coronavirus concerns.
Cardano’s Shelley Hard Fork Successful, Network on its Way to Become the World’s Financial Operating System
Cardano’s second developmental phase, Shelley has been successfully launched, the hard fork was successful in transforming Cardano into the Shelley era from Byron.The hard fork took Cardano from its Byron era to Shelley, to enable the network to become more decentralized and autonomous.
Perianne Boring: Blockchain Will Be the Foundation of the New Financial System
Perianne Boring is the Founder and President of the Chamber of Digital Commerce—the world's first and largest blockchain trade association. Boring began her career as a legislative analyst in the U.S. House of Representatives, advising on finance, economics, tax and healthcare policy. Prior to forming the Chamber, Boring was a television host and anchor of an international finance program that aired in more than 100 countries to over 650 million viewers.
G7 Reports Stablecoins Like Libra Threaten Financial Security
According to the BBC, the G7 group of nations has drafted a report outlining nine major risks that digital currencies, such as Facebook’s proposed Libra, pose to the global financial system.
Can CBDC Drive Financial Inclusion?
There are still 1.7 billion unbanked in the world. What are the reasons behind such a significant number of unbanked? Can CBDC drive their financial inclusion?
MasterCard Asia Files Device Billing System Patent Compatible With Iota’s Tangle Network
MasterCard patents blockchain system to help shared device merchants avoid credit card fees.