In an open letter to the Swiss Financial Market Supervisory Authority (FINMA), the Bitcoin Association Switzerland (BAS) is formulating a recommendation to amend the Money Laundering Ordinance presented in February. It calls for all financial market players to be treated equally. On 7 February 2020, FINMA published a proposed ordinance and several partial ordinance revision […]
The Central Bank of South Korea appears to be launching a pilot program to test the digital won. The program is scheduled to run until December 2021 to test technical and legal requirements. Although there are no immediate plans to issue or introduce a CBDC, the bank intends to use the pilot program to ensure […]
The Peoples Bank of China (PBoC) is said to have come closer to issuing a national digital currency. According to an industry insider, the central bank is said to have completed work on the basic functions of the digital currency. The basic functions of the digital yuan have been implemented The basic functions, which according […]
At the heart of any conversation about bitcoin is a much broader discussion – what is money? To answer that question, we have to talk about central banks. There is also a question of whether we are facing the digital currency war. Money as a means to create an empire has existed almost as long […]
At the end of January, the World Economic Forum in Davos published a 28-page guide for central banks entitled “Central Bank Digital Currency CBDC Policy-Maker Toolkit“. The document is intended to help countries to introduce digital currencies. An insight from Demelza Hays. The World Economic Forum’s Central Bank Digital Currency Policy-Maker Toolkit is a document […]
Federal Reserve Chairman Jerome Powell addressed the House of Representatives’ Financial Services Committee on Tuesday. When asked about digital currencies, Powell admitted that the Libra project had sparked some excitement in the Fed last year. Jerome Powell, the current chairman of the Federal Reserve, said this in response to Illinois Congressman Bill Foster’s question about […]
Six major central banks, including the Bank of Japan and the European Central Bank, are scheduled to meet in Washington in mid-April to discuss issues related to the likely introduction of central bank digital currencies. According to the Japan Times, the governors of the ECB and the central banks of the United Kingdom, Canada, Japan, […]
The Chinese central bank has injected liquidity worth 1.2 trillion yuan (174 billion dollars) into the markets on Monday through reverse repo transactions. This is expected to support stock markets as they reopen amid a new outbreak of the coronavirus. The Chinese authorities have announced that they will provide sufficient liquidity through various monetary policy […]
Last week, a global consortium was announced at the WEF to focus on designing a legal framework for managing digital currencies, including stablecoins. In 2020, the WEF brought more than 3,000 global leaders from politics, government, civil society, science, arts and culture, and media together. Under the theme “Stakeholders for a Cohesive and Sustainable World”, […]
(Source: Trending Topics 2019 via flickr.com) The likelihood of central banks issuing their own general purpose central bank digital currency (CBDC) has doubled from roughly 10 – 20%, from 2018 to 2019, according to the Bank of International Settlements (BIS). On Thursday, the Swiss-based BIS carried out a survey with 66 central banks across the […]
