BIS Adds Bank of Korea Governor Juyeol Lee to its Board of Directors

The Bank for International Settlements (BIS) announced today that it has added Bank of Korea Governor Juyeol Lee to its Board of Directors. His three-year term will come into effect in January of next year. At BIS, an elected Director is initially appointed to serve a three-year term which can be renewed. His appointment is…

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State Duma Chairman: Russian Stablecoin Would Be Equivalent to Fiat Ruble in ‘Digital Space’

The chairman of Russia’s State Duma Committee on Financial Markets has said that a state-backed stablecoin would be a complete equivalent to the Russian fiat ruble in a digital space, state-operated Russian news agency RIA Novosti reported Nov. 7. Chairman Anatoly Aksakov said that the “crypto ruble,” which may appear after the adoption of laws…

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Sweden’s Central Bank Looking To Develop National Digital Currency

The Riksbank is researching ways to create a secure and efficient payment platform for an e-krona. Sweden’s central bank, the Riksbank, is moving closer to issuing a central bank digital currency (CBDC). In September 2017, the bank published the first report of the E-krona Project, in which it looked at the potential for a state-issued…

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Central Bank of Ireland: Watch out for 365BinaryOption

The verdict is in – watch out for 365BinaryOption. Today, the Central Bank of Ireland became the latest in a series of financial institutions to warn against the firm, which also goes by the name of 365-FX, Oproserv Limited and Fintech Software Inc. According to the warning, released by the central bank, the firm is…

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RBI Argues Supreme Court Should Not Interfere With Its Crypto Decision

The Reserve Bank of India has filed an affidavit with the country’s supreme court in response to one of the petitions against its crypto banking ban. The central bank reportedly argues that it has acted within its power and that none of the petitioners have shown reasonable grounds for the supreme court to intervene. No…

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PBOC Provides Update on Its Crypto Prevention Efforts

The People’s Bank of China (PBOC) has issued a statement detailing its efforts to stop and prevent crypto and initial coin offering activities in the country. The bank outlines measures against the widespread of overseas exchanges servicing domestic users such as blocking trading platforms and closing down 3,000 trading accounts. Servicing Domestic Users From Overseas…

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Growing Number of Indian Crypto Exchanges Say Fiat Support Is Back Despite RBI Ban

A growing number of crypto exchanges in India have announced the return of fiat deposit and withdrawal support despite the crypto banking ban imposed by the country’s central bank. Several other exchanges in the country also allow their users to use Indian rupees to buy and cash out cryptocurrencies through their exchange-escrow peer-to-peer (P2P) services….

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Cryptocurrencies Have no Value Without Trust – Taiwan CB Governor

The Taiwanese central bank governor made it clear that he is not keen on cryptocurrencies just as the country begins flirting with the idea of regulation. Cryptocurrencies are excluded from the trust system that fiat has used to flourish, Taiwan’s central bank governor Yang Chin-long said during a forum on the bank’s role in the…

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hvordan selge bitcoin – banking explained – money and credit

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FINMA Seeks to Stem Exodus of Swiss Cryptocurrency Firms

The Swiss Financial Market Supervisory Authority (FINMA) has met with representatives of the country’s banking sector in the hopes of stemming a nascent exodus among cryptocurrency companies from Switzerland. The companies’ departures have been attributed to two Swiss banks’ decisions to no longer provide financial services to businesses dealing with virtual currencies. Also Read: India Exchange…

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Bank Of Canada Study Addresses Double Spending On Blockchain Systems

A recent report from Canada’s central bank discusses “cheating” on a blockchain through double spending and likens the potential issue to classic incentive compatibility constraints within game theory. Researchers Jonathan Chiu and Thorsten V. Koeppl from the Bank of Canada, the country’s central bank, published a working paper detailing their model to test “cheating” on…

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Indian Crypto Regulation Ready by September: Official

The Indian government is expected to issue detailed cryptocurrency guidelines by September, a senior official from the country’s Ministry of Finance reportedly said. Consultations with all stakeholders including the central bank have already begun. This announcement is independent of the supreme court’s hearing of petitions relating to crypto regulation in India. Regulation Expected by September…

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India: Supreme Court Decision on Central Bank Crypto Dealings Ban Moved to September

The Supreme Court of India’s hearing on the central bank’s ban on crypto dealings, originally scheduled for July 20, has been moved to September, according to a July 19 Twitter post by a team of Indian lawyers involved in crypto regulatory analysis. The Reserve Bank of India’s (RBI) crypto banking ban was implemented in early…

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Over 500 BTC Belonging to Iranians Seized by US Government: Report

According to the head of Iran’s Blockchain Association, over 500 BTC belonging to Iranians were confiscated by the U.S. government last year, and the number is still rising. He explains that Iranians are unable to take action through proper channels from within their country due to Iran’s legal status of cryptocurrency. Iranians’ 500 BTC Seized…

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Indian Supreme Court Heard Crypto Petitions Today but RBI Ban Stays

India’s Supreme Court heard the petitions against the crypto banking ban by the Reserve Bank of India (RBI) today. After hearing some arguments from both sides, the court decided to set another hearing date, allowing some of the regulators involved to respond to the petitions. Supreme Court Hearing on July 20 The long-awaited hearing at…

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Harmless for now, Dangerous in the Future: Here’s What EU Researchers Think of Cryptocurrencies

On July 9, a "Monetary Dialogue" session was held by the Committee on Economic and Monetary Affairs Committee (ECON) of the European Parliament. It’s a quarterly conference that is directly interlinked with the European Central Bank (ECB): Every three months, the president of the ECB (or, occasionally, another representative) appears before the Committee to report…

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Regulatory Round-Up: U.K. MP Calls for ‘Chief Blockchain Officer’, DLT Companies Enter FCA Sandbox, Bank of Finland Calls Crypto a “Fallacy”

In recent regulatory news, U.K. minister, Eddie Hughes has published a report that advocates for the creation of a “Chief Blockchain Officer,” the U.K. Financial Conduct Authority has announced that a number of distributed ledger (DLT) companies have been accepted into cohort 4 of its regulatory sandbox, and Finland’s Central Bank has published a report…

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Indian Crypto Exchanges Launching P2P Trading Services – Bypassing RBI Ban

With the impending banking ban by the Reserve Bank of India, cryptocurrency exchanges in the country are scrambling to find banking alternatives. Two Indian exchanges have announced that they are launching P2P crypto trading services which will allow traders to buy and sell crypto legally even after the central bank’s ban. Wazirx’s P2P Service With…

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Bank of England: Deputy Governor Warns Financial Institutions of Crypto Asset Risks

A Bank of England deputy governor has written a letter of warning Thursday, June 28, to CEOs of financial institutions about the risks of exposure to crypto assets. Sam Woods, the Deputy Governor and CEO of Prudential Regulation Authority (PRA), began the letter by reminding the institutions of their obligations to PRA rules, including acting…

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Bahamas Central Bank to Launch Pilot Digital Currency

The Central Bank of the Bahamas is planning to introduce a government-backed pilot digital currency, Jamaica Observer reported June 22. Speaking at the Bahamas Blockchain and Cryptocurrency Conference earlier this week, Deputy Prime Minister and Minister of Finance of the Bahamas, K Peter Turnquest, made the announcement, saying that the development of a fully digital…

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