Central Bank

South Africa’s Central Bank Pilots Tokenized Fiat Interbank Payment System

2 weeks ago admin2 Comments Off on South Africa’s Central Bank Pilots Tokenized Fiat Interbank Payment System
South Africa’s Central Bank (SARB) has successfully piloted a Proof-of-Concept (PoC) for an interbank payment system that tokenizes fiat using Quorum, according to an SARB press release published June 5th. Quorum is an Ethereum-based private blockchain. According to SARB’s report on the pilot, dubbed ‘Project Khokha,’ all of the bank’s goals were successfully achieved, the Read More

Hong Kong: Central Bank Digital Currency ‘not Clearly Superior to’ Existing Infrastructure

3 weeks ago admin2 Comments Off on Hong Kong: Central Bank Digital Currency ‘not Clearly Superior to’ Existing Infrastructure
Hong Kong will not currently issue a central bank digital currency (CBDC), citing the existence of already efficient payment infrastructure, according to a government press release published yesterday, May 30. Joseph Chan, the Acting Secretary for Financial Services and the Treasury in the Legislative Council, said in response to questions about both the People’s Bank Read More

Bank of Korea to Announce Guidelines on Cryptocurrencies by June, Hints At Possible Central Bank Digital Currency

2 months ago admin2 Comments Off on Bank of Korea to Announce Guidelines on Cryptocurrencies by June, Hints At Possible Central Bank Digital Currency
Image: South Korea flag by railway fx via Shutterstock.com The Bank of Korea (BoK) has announced that it is planning to reveal its guidelines on cryptocurrencies before the summer is out. A plan on a possible central bank-issued digital currency will also feature, according to a report. In a statement issued yesterday, the bank said: Read More

Bank of Japan Turns Back on State-Issued Cryptocurrency

2 months ago admin2 Comments Off on Bank of Japan Turns Back on State-Issued Cryptocurrency
Economy & Regulation The Bank of Japan has become the latest government financial institution to recognize the risks of state-issued cryptocurrencies. According to its Deputy Governor Masayoshi Amamiya, a national digital coin may jeopardize the traditional financial system established in developed countries. The Japanese central bank has no plans to issue its own crypto, he Read More

“Private Digital Money” Better than State-Issued, Swiss Central Banker Says

2 months ago admin2 Comments Off on “Private Digital Money” Better than State-Issued, Swiss Central Banker Says
Economy & Regulation Private digital currencies are better than any state-issued version, admitted a high-ranking representative of the Swiss National Bank. Cryptocurrencies are also less risky, according to Andrea Maechler, member of the central bank’s governing board. Her comments indicate that Switzerland has no intentions to emit a state-sponsored crypto.   Also read: Centralized Cryptoruble Read More

Pakistan Bars Banks from Crypto and ICO Trading

3 months ago admin2 Comments Off on Pakistan Bars Banks from Crypto and ICO Trading
Pakistan’s central bank issued a statement barring financial companies in the country from working with cryptocurrency firms, becoming the latest institution of its kind to bar the activity. In a statement posted to its website (and circulated via social media), the State Bank of Pakistan (SBP) said: “…all Banks/ DFIs/ Microfinance Banks and Payment System Operators Read More

RBI Contemplates “Central Bank Digital Currency” But Bans FIs From Dealing With Crypto

3 months ago admin2 Comments Off on RBI Contemplates “Central Bank Digital Currency” But Bans FIs From Dealing With Crypto
Image: Wealth Money Bitcoin Finance Business Currency, Max Pixel The Reserve Bank of India (RBI) said on Thursday that it is considering the introduction of a “central bank digital currency,” stating that technological innovations, including cryptocurrencies and blockchain, have the potential to improve the efficiency and inclusiveness of the financial system. The RBI said in Read More

Iranian Cyberspace Authority Says Telegram’s Upcoming Crypto Threatens National Currency

3 months ago admin2 Comments Off on Iranian Cyberspace Authority Says Telegram’s Upcoming Crypto Threatens National Currency
The secretary of Iran’s High Council of Cyberspace (HCC) has publicly supported the potential ban of Telegram within the country, citing the chat app’s recent Initial Coin Offering (ICO) as potentially “undermin the national currency of Iran,” local news outlet Al-Monitor reported yesterday, April 3. According to Al-Monitor, the discussion about banning Telegram originally stemmed Read More