#central banks News

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BigTech’s Foray into Cryptocurrency and Digital Payments Could Destabilize Global Finance

December 9, 2019 by Anthonia Isichei at Regulation

The Financial Services Board (FSB) has issued a report highlighting the potential impact of large tech firms participating in the crypto and digital payments arena. As part of its report, the FSB is calling for robust monitoring of the trend while issuing warnings related to the stability of the global...

Central Banker contemplating a central bank digital currency over the dollar

IBM and OMFIF Report Reveals Central Banks Fear Digital Efficiency

October 30, 2019 by Ashwath Balakrishnan at Altcoins

Central banks across the globe have been reserved in their approach to digitization. These institutions are huge proponents of digital payments channels on a retail level, but when it comes to digitizing all currency, their worst fears kick in. According to a report published by IBM and the Official Monetary...

Bitcoin beaming in the sky as a man looks on praising the new god

The Cycle of Traditional Economic Manipulation is an Opportunity for Cryptocurrencies

September 24, 2019 by Ashwath Balakrishnan at Bitcoin

One of the primary reasons that Bitcoin bulls are so full of hope and euphoria is the constant manipulation and complexity in global economics. Central banks are constantly changing their outlook and looking for ways to either inject or withdraw liquidity from the market. According to a piece by Forbes, this poses...

Looking in a filing cabinet to find Facebook' coin under project libra drawer

Why Facebook’s Libra Has all the Makings of a Private Central Bank

June 24, 2019 by Anthonia Isichei at Adoption, Altcoins

A columnist for The Wall Street Journal (WSJ) recently spoke about the upcoming Facebook cryptocurrency, Libra. According to the article, the columnist opines that the proposed stablecoin isn’t as promising as projected and added that Libra gives Facebook the “license to print money.” Libra Will Become a Private Central Bank Recently,...

Bank of International Settlements Manager Advises Against Central Bank-Backed Coins

March 26, 2019 by Tokoni Uti at Altcoins, Commentary, Finance, News

It would seem that Agustin Carstens is still not a fan of cryptocurrencies as he stated during a March 22, 2019 speech at the Central Bank of Ireland that the issuance of central bank-backed tokens could destabilize the economy. Token Resistance While many private companies such as JP Morgan and...

PwC Partner: Central Bank Digital Currencies Need to Be Stress-Tested by Big Companies

March 25, 2019 by Nuno Menezes at Adoption, Blockchain, Commentary, Finance, News, Regulation

Pauline Adam Kalfon, a blockchain and financial services partner at PwC France, explained that central banks may start to accept the idea of issuing their own digital currency once big companies have stress-tested the technology, as noted on Forbes on March 22, 2019. Still not Comfortable with Digital Currencies France's...

BIS Survey: 70 Percent of Surveyed Banks Are Fidgeting with the Idea of Central Bank Digital Currencies

January 10, 2019 by Aisshwarya Tiwari at Blockchain, Business, Finance, News, Tech

A recent survey by the Bank for International Settlements (BIS) found the majority of the world’s central banks are not too keen on issuing digital currencies at least for the next three years but 70 percent of them accepted that they are exploring with the idea of CBDCs in some...

Blockchain Shouldn’t Be an Enemy to the U.S. Federal Reserve

January 4, 2019 by Priyeshu Garg at Adoption, Altcoins, Blockchain, Commentary, Finance, News, Regulation

Despite most central banks being reluctant to turn to blockchain technology, major institutions such as the U.S. Federal Reserve should figure out the implications of such distributed ledger technologies and how to adapt to them, economist Eswar Prasad argued in a Financial Times article on January 1, 2019. Blockchain Could...

Dutch Central Bank Figure Pointing to Bitcoin Washing Machines

Dutch Central Bank Keen to Regulate Crypto Companies to Deter Money Laundering

December 13, 2018 by Cindy Huynh at Bitcoin, Crime, Finance, News, Regulation

De Nederlandsche, the Dutch central bank, is keen to regulate cryptocurrency companies to deter money laundering and terrorist financing. According to December 11, 2018, reports from Dutch Daily newspaper, De Telegraaf, cryptocurrency companies may require a license to continue operating in the near future. Cryptocurrency Industry Prone to Money Laundering...

Boston Federal Executive Speaks on Limitations of Cryptocurrency and Blockchain

October 4, 2018 by Rahul Nambiampurath at Altcoins, Blockchain, Commentary, Finance, News, Regulation

Jim Cunha, the Senior Vice President of Treasury and Financial Services at the Federal Reserve Bank of Boston, spoke about cryptocurrency and blockchain at the Forbes‘ 30 Under 30 summit in the Massachusetts capital. The summit at Boston's City Hall Plaza began October 1, 2018, with him describing the limitations...

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