Bitcoin (BTC) At 2019 Highs, Is It Because of The FED’s Dovish Stance?

Bitcoin (BTC) prints double-digit gains Central banks could slash interest rates to avert a global recession, boosting risk assets in the short term & safe havens in the long term  Perhaps in anticipation of an economic slowdown and central banks intervening by cutting rates, data suggests fund managers are shifting capital to Bitcoin. In the […]

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

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, U.S. Congresswoman, Maxine Walters, called […]

Russia’s Central Bank Is Considering Launching a Digital Currency

The head of Russia’s central bank has said the institution could one day launch its own digital currency. Chairwoman Elvira Nabiullina told a student conference that, while such a project “cannot be realized immediately,” various central banks, including Bank of Russia, are investigating the possibility, TASS reported Saturday. Key to the utility of a central […]

Russian Gold-Backed Crypto Slams the Global US Dollar Standard

By CCN Markets: Russia is continuing to explore the possibility of a gold-backed cryptocurrency for use as a cross-border settlement alternative with other countries. Under heavy sanctions from the US, the potential of a value-pegged cryptocurrency could help Russia escape from the usage of the Dollar as a currency standard. Russia’s State Duma member Vladimir […]

14 Banks, 5 Tokens: Fnality’s Expansive Vision for Interbank Blockchains

The Takeaway: With $63.2 million in fresh funding from 14 banks, Fnality is building tokenized versions of five major fiat currencies. The digitized fiat would be fully collateralized by cash held at central banks and is meant to solve the “cash on ledger” problem faced by other financial blockchain projects. The consortium says it is open […]

Philippines Central Bank Warns on Risks of Growing Cryptocurrency Use

The chief of the Philippines central bank has warned over the risks of growing cryptocurrency use in the country. On Monday, The Philippine Star quoted Benjamin Diokno, governor of the Bangko Sentral ng Pilipinas, as saying his institution would continue to address the use of cryptocurrencies, especially given the tech’s potential use in the funding of […]

German Central Bank Chief Pours Cold Water on Digital Currencies

By CCN: Deutsche Bundesbank president Jens Weidmann has added a dampener to discussions on central bank digital currencies (CBDC), claiming they would destabilize financial systems and worsen bank runs. The president of Germany’s central bank said, in a speech in Frankfurt, Germany, that widespread use of digital central bank money could have “serious consequences.” CBDCs […]

G20 Starts Crypto Discussions – A Look at Global Standards

Finance ministers and central bank governors from the G20 countries have gathered this weekend for a two-day meeting ahead of the G20 summit, and cryptocurrency is among the topics of discussion. Global standard-setting bodies have submitted their policies and provided tools to help the member countries with the regulation of crypto assets in their own […]

World’s Biggest Banks Splash $63 million on a Blockchain Digital Currency

By CCN: Some of the world’s biggest banks are partnering with London-based Fnality International to create a blockchain digital currency for faster cross-border transfers. These banks from Japan, Europe, and the United States are hoping that issuing a utility settlement coin (USC) will lower transaction costs of cross-border payments by cutting out intermediaries. Fnality International […]

Bundesbank Chief Warns on Risks of Central Bank Digital Currencies

The head of Germany’s central bank has said central bank digital currencies could destabilize financial systems and worsen bank runs. In a speech at the opening of the Bundesbank Symposium in Frankfurt, Germany, on May 29, Deutsche Bundesbank president Jens Weidmann said the widespread use of digital central bank money could have “serious consequences” and […]