Russia Crypto News: Bitcoin Might Help Russia to Avoid Economic Sanction – Putin can Legalize Crypto Soon
Following the impositions of new economic sanctions by US, Japan, Australia, etc aimed at isolating Russian institutions from the global financial system, experts are looking to use cryptocurrencies to avoid economic sanctions which result in providing legal status to Bitcoin and other crypto. Using Cryptocurrencies Replacing US Dollar Would Be A Severe Economic Sanction Violation […]
FM Sitharaman Announces Establishment of India’s First Digital Currency
Today, Nirmala Sitharaman, Union Finance Minister, announced India’s first digital currency would be available shortly for Indian investors. Around her fourth Budget, Sitharaman stated that the Reserve Bank of India (RBI) will launch digital currency in 2022-23. She also said that it would have a significant impact on the economy. In July of last year, […]
Top 5 Crypto News – RBI Establishes A Department To Supervise Cryptocurrency Exchanges
RBI Establishes A Department To Supervise Cryptocurrency Exchanges & Develop CBDCs According to a Coindesk story, the Reserve Bank of India (RBI), the central body controlling banking in India, has established a special fintech department to supervise draught laws for Bitcoin and its planned central bank digital currency (CBDC). According to the article, the bank […]
Crypto Volatility ; The Government’s Skepticism: Will It Achieve Legitimacy in 2022?
The argument regarding the legalization of cryptocurrencies in India has been ongoing for some time, with the finance ministry and the Reserve Bank of India (RBI) debating the best course of action. Bitcoin is unquestionably the most successful, although volatile, digital money based on price swings. According to statistics gathered by coinmarketcap.com, Bitcoin’s lowest trading […]
Peru’s Central Bank To Develop a Digital Currency
Like other economies across the world, the Peruvian central bank, Peru’s Central Bank, seeks to build a central bank digital currency (CBDC). Julio Velarde, the company’s president, announced that the currency would be largely used for payments. Due to the current market instability, Velarde agreed that now was not the best time to debut the […]
Nigeria Is The First African Country To Establish a Central Bank Digital Currency
Nigeria has become the first African country to issue a sovereign digital currency known as eNaira. The central bank had previously delayed the launch by a month, but it appears that everything is now in place for the official launch. The Nigerian Central Bank also stated that their priority was to launch a complete product […]
Bhutan Partnered With Ripple to Pilot Test The Model Of Their CBDC
The Royal Monetary Authority (RMA); Bhutan’s central bank; has teamed with Ripple to begin testing a model of its CBDC (central bank digital currency ) using Ripple’s technology. To cover comparable use scenarios, the test will employ Ripple’s proprietary CBDC private ledger. The proposed CBDC’s pilot test will comprise retail, cross-border, and wholesale payments. Bhutan […]
Singapore Central Bank Selects 15 Retail CBDC Companies
The Singapore Monetary Authority (MAS) has ultimately chosen 15 companies to assist in the development of retail CBDC. These companies will take part in the Global CBDC challenge and contribute to the development of an in-house retail central bank digital currency. Singapore Central Bank Select 15 retail CBDC Companies According to the MAS release, four […]