The oldest central bank on the planet has called on politicians to define the concept of money legally and its definition may include crypto. In an increasingly cashless society, the Swedish Riksbank is struggling to come to terms with its diminishing responsibilities and is seeking clarification on them as a matter of urgency. Sweden has…
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Law enforcement officers in India have arrested Unocoin’s co-founder for operating a Bitcoin ATM kiosk, which the police called illegal. More arrests are likely, according to the police. Law Enforcement in India Expects to Make Further Arrests After Jailing Unocoin Co-Founder The co-founder of India’s first bitcoin ATM kiosk was arrested yesterday, the Times of…
U.K.-based startup SETL was granted a license from the Autorité des Marchés Financiers, the French financial watchdog, to run a blockchain-powered central securities depository (CSD). Blockchain Settlement Startup Promises to Help Cut Collateral Held up in Payment Systems As one of Europe’s biggest securities settlement systems, France will be at the forefront of “market plumbing” processes, where…
The central bank of Israel has published a summary of the work of its interdepartmental team to examine central bank digital currency and its eventual use in the country’s financial system. The research found there are no proper grounds for a decision to recommend issuing digital currency as of yet. Israel’s Central Bank Report Weighs Benefits…
Very few positive stories come out of China with cryptocurrency in the headlines. This one is no different as the central bank has continued with its rhetoric over the risks of dealing with digital currencies. Same Old Story; Crypto Bad, Blockchain Good The People’s Bank of China has issued another warning over its perceived bubble…
Going by recent headlines, it appears as though central banks around the world are planning to or in the process of creating their own digital currencies.The coins, by their disruptive nature, are bound to attract attention from these banks. And with Facebook’s plans to launch the Libra, there are ever-growing challenges to their monetary authority…
A report on central bank digital currencies has found that 61% of institutions don’t think a blockchain is necessary due to low efficiency gains during trials. IBM Survey Finds That Central Banks Won’t Be Introducing CBDCs in Near-Term The report was conducted by IBM and the Official Monetary and Financial Institutions Forum (OMFIF). The survey,…