ECB: Digital Euro to Boost Global Appeal of European Money, Fight ‘Artificial Currencies’

Danish Central Banker Tempted to Ignore Cryptocurrency — Sees Real Threat in ‘Big Tech Invading Currency Area’

‘Chinese Invented Paper Money and They Will End It’- Brazil’s Far-Left Praises Digital Yuan  

Kenyan Regulator Commends Its Regulatory Sandbox— Says the Test Phase Enables It to Have Interactions With Innovators

According to a new report published by the Capital Markets Authority (CMA) of Kenya, the country’s regulatory sandbox has now received 24 applications, queries, and proposals since March 2019. From this total, only seven firms have been admitted into the sandbox, and “a few more (are now) in the final stages of review.†However, just […]

Kenyan Regulator Commends Its Regulatory Sandbox— Says the Test Phase Enables It to Have Interactions With Innovators

According to a new report published by the Capital Markets Authority (CMA) of Kenya, the country’s regulatory sandbox has now received 24 applications, queries, and proposals since March 2019. From this total, only seven firms have been admitted into the sandbox, and “a few more (are now) in the final stages of review.†However, just […]

Venture Capitalist Proposes a Single Decentralized Crypto as a Solution to Boost Africa’s Inter-Regional Trade

South African venture capitalist, Michael Jordaan, recently suggested that a single decentralized cryptocurrency may be the solution that brings great benefits to inter-regional trade and investment in Africa. According to Jordaan, who is also the former CEO of one of South Africa’s leading banks, FNB, such a single African currency “would go a long way […]

Danske Bank Lowers Negative Rate Threshold, Denmark’s Business Minister Says ‘Enough is Enough’

On April 26, 2021, the Danish multinational banking and financial services corporation Danske Bank published a press release explaining that the institution has changed the threshold for personal customers and standard interest rates for business customers in Denmark. The Bank plans to lower the threshold for charging negative interest on deposits from DKK 100,000 to […]

The Global Economy Comes Before Savers: ECB President Christine Lagarde Defends Negative Interest Rates

The European Central Bank President Christine Lagarde is keeping the central bank’s monetary easing policies unchanged according to her statements from a press conference last Thursday. Moreover, the central bank’s Twitter account recently shared a video of Lagarde defending negative interest rates, as the bank’s President stresses that they “support companies and people in the […]

An ECB Board Member Attacks Bitcoin, Says It ‘Does Not Fulfill the Basic Properties of Money’

Isabel Schnabel, a board member with the European Central Bank (ECB), has attacked bitcoin claiming the crypto asset “does not fulfill the basic properties of money.†She also describes bitcoin as a “speculative asset without any recognizable fundamental value and is subject to massive price swings.†Schnabel also surmises that trust in “cryptocurrencies might rapidly […]

African Migrants Are Turning to Cryptocurrency Platforms for ‘Low-Fee Remittances’

As central banks on the African continent fight to keep cryptocurrencies from going mainstream, many more migrant workers are increasingly turning to money-sending platforms that use cryptocurrencies when moving funds across borders. More Than Just an Investment Thus in addition to becoming a “hot investment for hedge funders and corporate moguls,†crypto-assets like bitcoin are […]

Microsoft President Says the World Is Best Served When Currencies Are Issued and Backed by Governments

Microsoft President Brad Smith says that “The world is best served when currencies are issued, backed by and regulated by governments.†He further emphasized that he is not a fan of encouraging the private sector to issue digital currencies. Microsoft’s President Says Currency Issuance Should Be Left to Governments Brad Smith, President of Microsoft Corp., […]

Microsoft President Says the World Is Best Served When Currencies Are Issued and Backed by Governments

Microsoft President Brad Smith says that “The world is best served when currencies are issued, backed by and regulated by governments.†He further emphasized that he is not a fan of encouraging the private sector to issue digital currencies. Microsoft’s President Says Currency Issuance Should Be Left to Governments Brad Smith, President of Microsoft Corp., […]

Goldman Sachs Reports Rising Customer Demand for BTC: Predicts an ‘Explosion’ in the Use of Digital Currencies

John Waldron, the chief operating officer (COO) of Goldman Sachs, says the financial services giant is seeing rising customer demand to own and invest in bitcoin. Nevertheless, the COO explained that his organization was still exploring ways of satisfying this demand without running afoul of regulators. ‘How Banks Should Be Regulated When Dealing With Digital […]

BIS Chief Banker Criticizes Bitcoin as Inherently Risky, Says BTC Vulnerable to 51% Attack

Bank for International Settlements (BIS) general manager Agustin Carstens has criticized bitcoin saying the asset was inherently risky and “increasingly vulnerable†to a 51% attack. A long time bitcoin (BTC) skeptic, Carstens stressed that only central banks should be issuing digital currencies. “Investors must be cognizant that bitcoin may well break down altogether,†he opined, […]

Economist Slams ECB Chief Lagarde’s Bitcoin Remarks as Dangerous for Cryptocurrency Regulation

Responding to European Central Bank (ECB) President Christine Lagarde’s recent remarks about bitcoin, the chief economist at investment firm Tressis said what Lagarde implied was “outrageous†and “dangerous†for cryptocurrency regulation. Economist Says Governments Would Be Happy to Implement Strict Crypto Regulations Daniel Lacalle, fund manager and chief economist at Tressis Gestion, commented on Christine […]

IMF Says Only 23% of Central Banks Can Legally Issue Digital Currencies

Researchers at the International Monetary Fund (IMF) have examined the central bank laws of 174 IMF members to answer the question of whether a digital currency is really money. They found that of all the central banks studied, only about 23%, or 40 central banks, “are legally allowed to issue digital currencies.†IMF Explores if […]

IMF Says Only 23% of Central Banks Can Legally Issue Digital Currencies

Researchers at the International Monetary Fund (IMF) have examined the central bank laws of 174 IMF members to answer the question of whether a digital currency is really money. They found that of all the central banks studied, only about 23%, or 40 central banks, “are legally allowed to issue digital currencies.†IMF Explores if […]

The US Dollar’s Share of Global Reserve Currencies Drops as Japanese Yen’s Share Increases

The U.S. dollar’s dominant position as the reserve currency of choice may be in peril, as its share of global currencies held in reserves continues to decline. International Monetary Fund (IMF) data shows, the dollar’s share of reserves dropped from 66% in Q3 of 2014 to just above 60% in Q3 of 2020. This means […]

The US Dollar’s Share of Global Reserve Currencies Drops as Japanese Yen’s Share Increases

The U.S. dollar’s dominant position as the reserve currency of choice may be in peril, as its share of global currencies held in reserves continues to decline. International Monetary Fund (IMF) data shows, the dollar’s share of reserves dropped from 66% in Q3 of 2014 to just above 60% in Q3 of 2020. This means […]

Snowden Puzzled by Bitcoin’s Lack of Scaling and Privacy, Says Devs ‘Had Years to Do It’

Just recently, the film producer and well known Youtuber, Naomi Brockwell, sat down with Edward Snowden and the two discussed a number of subjects including privacy and bitcoin. When Snowden talked about bitcoin, he delved into the protocol’s lack of progressive scaling and privacy. The famous whistleblower said that the biggest question he has is […]

IMF Cautions Central Banks May Have to Rethink What Constitutes Reserves

The IMF warns that central banks may have to rethink what constitutes their reserve currency holdings. In a recent study, the global lender points to the changing geopolitical landscape, technological advances and the impact of the Covid-19 pandemic as events likely to influence the composition of reserves. Advances in Financial Technologies In addition to the […]

As Citizens Suffer Central Banks Flush Trading Houses With Trillions, Ease Corporate Strains

Central banks across the world have been increasing stimulus and letting inflation run high in order to combat the disastrous economic effects of the coronavirus outbreak response. The Bank of Japan has recently become the country’s largest stockholder and the European Central Bank is prepared to expand its colossal stimulus program. Meanwhile, Federal Reserve Chair […]

Testnet of Facebook’s Much Vaunted Stablecoin Only Executes 6 Transactions per Second

The Facebook fronted stablecoin, Diem (formerly Libra)’s dismal testnet results undercut the assertion that the digital currency is a threat to global financial stability. This is the conclusion that can be deduced from a Diem blockchain explorer update which shows the network only processes an average of six transactions per second (tps), with the highest […]

Cryptocurrencies Prove Central Bank Models Are Obsolete, Says Professor

A Spanish professor and economist stated that cryptocurrencies have brought out the “obsolescence†of central banks, although their capitalization is still “very insignificant.†Crypto Is Not Only About the ‘Speculative Noise’ Pablo Agnese, an economics professor and lecturer in the Department of Economic and Business Organization at the Universitat Internacional de Catalunya in Barcelona (UIC […]

Christine Lagarde: ‘The European Central Bank Cannot Go Bankrupt or Run Out of Money’

In remarks that highlight flaws of the fiat currency system, the European Central Bank (ECB) president, Christine Lagarde, says the institution cannot go bankrupt even if it incurs losses running into trillions. According to Lagarde, normal bankruptcy rules do not apply to the ECB primarily because it is the sole issuer of euro-denominated central bank […]

Hyperinflation and Rent Controls – 2020’s Telltale Signs of Economic Distress Haunts Many Nations

If history serves us well, 2020 is likely a precursor to a long and dreadful economic depression throughout a myriad of countries worldwide. During the last year, economists and analysts have been discussing how specifically the United States economy and the U.S. dollar are losing global dominance quite rapidly. While a few analysts believe the […]

Hedge Fund Manager Brian Kelly Says Increasing Institutional Interest in Bitcoin Down to its Fixed Supply

Hedge fund manager Brian Kelly says the surging number of institutional investors owning bitcoin is down to the digital currency’s core value proposition- a fixed coin supply. On the other hand, the same institutional investor interest is helping to build confidence in the top cryptocurrency while taking away some of the perceived risks. Bitcoin Value […]

Coronavirus Driving Interest in CBDCs, Say Central Bank Chiefs

A group of central banks says the coronavirus pandemic is a driving force behind growing interest in national digital currencies. Governors of 26 central banks met in Russia to discuss the pandemic and its financial ramifications, according to a news release from the Bank of Russia on Friday. The “Central Bank Governors’ Club,” including institutions from the […]

Federal Reserve Staff Sluiced Wall Street Bankers With Trillions From the Comfort of Their Mansions

While American citizens wait for bureaucrats to pass a new coronavirus relief package, the Federal Reserve has continued to serve corporate interests and the banking cartel. Behind the curtains from the comfort of their own mansions, members of the Fed have given more stimulus to crony Wall Street corporatists than it did in 2008. The […]