Central Bank

In a Friday blog post, Bitmex co-creator Arthur Hayes shared his thoughts on how fiscal authorities will respond to unfavorable economic conditions. This is after the Bank of England revealed it would buy an unlimited amount of government bonds to palliate the effect of the current inflation. Indeed, the entrepreneur believes central banks globally will soon turn to money printing as a solution to the currently worsening inflation. He is also certain this will drive up the price of digital…

A report from the Bank of International Settlements indicates that nearly every nation is exploring the possible issuance of CBDCs. As the report reads, more than half of the planet is already developing central bank digital currencies (CBDCs), or running concrete experiments. Covid-19 is reported as an added reason for CBDC development, given their potential role in stabilizing advanced economies. Right now, pandemic supply chain issues and monetary stimulus have led to record inflation in both the European Union and…

Central bank digital currencies (CBDCs) are all the rage right now. These assets have been increasing since last year, and they continue to do so. Today, estimates suggest that countries representing 90 percent of global GDP will launch CBDCs in the next decade. So, what exactly is the impact of these assets on economies? The rise of CBDCs has been inspiring for sure. China started the race, launching trials for its digital yuan in 2020. Even with the global pandemic, problems for the…

Have you ever noticed the contempt politicians and bankers seem to have for Bitcoin? A recent scandal at the Federal Reserve gives us a great clue as to why. Commonplace Corruption On Capitol Hill Political corruption is no mystery to the public. Anyone can name a crooked politician that’s abused their privileged position for personal and financial gain. Take Nancy Pelosi– the Democratic Speaker of the House who bought call options of Tesla stocks last December. She purchased them ahead…

The rise in private currencies like Bitcoin and Ethereum has forced Central Banks to develop Central Bank Digital Currencies (CBDC). However, a recent report from the International Monetary Fund (IMF) insists that Central Banks must coexist with private currencies for the finance sector to grow.  Central Banks and Private Digital Currencies  The IMF revealed this in a blog post where it analyzed the relationship between central banks and the private sector. It highlighted that cryptocurrencies grow more flexibly than central…

Mastercard has collaborated with local payment service provider Island Pay to roll out prepaid cards for the Bahamians central bank digital currency (CBDC), named the Bahamians Sand Dollar. Under the initiative, Bahama citizens will have the option to convert the digital currency to the traditional Bahamians dollar easily, and vice versa, Mastercard said in an announcement today. The service will provide greater flexibility for Bahamians to conveniently pay for goods and services anywhere Mastercard is accepted, the announcement stated. Notably,…

The Dutch central bank claims readiness for the development and trial of a digital Euro. According to the apex bank, it is willing to lead the development of a Europe-wide digital currency. On April 21, the central bank released a 45-page report which stated its readiness to lead the research and development of a digital currency for the Netherlands and Europe. The report also stated that the central bank is interested in becoming a proving ground for central bank digital currencies in…

Recently, the adoption of Russia’s major crypto law known as “On Digital Financial Assets” got finalized. Nevertheless, according to reports, Anatoly Askakov, the chairman of the Russian State Duma Committee on financial markets, said that the bill wouldn’t get adopted before the end of spring of 2020 due to the Covid-19 pandemic. Askakov claimed that the previous delays in the bill’s adoption occurred because of the disagreement on the new asset type between local authorities. He highlighted that the central…

Russia has been uncertain about crypto regulation in the country for so many years. The country has not yet finalized its major crypto legislation, known as ‘On Digital Financial Assets’. Senior Russian official warns that a pending bill on digital assets will include a ban on crypto.  The ban comes as a huge blow for cryptocurrency enthusiasts looking to capitalize on resurging BTC prices.  Meanwhile, the Bank of Russia is prioritizing a pilot tokenization project to rival traditional digital assets. …