Tags : Central

Regulation

Nigeria’s central bank moves to prohibit Bitcoin and cryptocurrencies

The Central Bank of Nigeria (CBN) reminded financial service businesses that dealing with cryptocurrency is prohibited. The letter, signed by Director Bello Hassan, warned of severe regulatory sanctions for those failing to meet the directive. Hassan says monetary service providers must identify on/off ramping and immediately close accounts associated with the action. “Accordingly, all DMBs, […]Read More

Bitcoin

Ireland Central Bank governor says Bitcoin investors are going to

Gabriel Makhlouf said investors are likely to lose their entire investment as Bitcoin and other cryptocurrencies go to zero. Bitcoin investors be wary A European Central Bank governing council member said in a conference over the weekend that cryptocurrency investors were likely to head towards zero, as per a report on Bloomberg. Gabriel Makhlouf, the […]Read More

Market

Bitcoin in Race for Adoption Before Central Banks Launch Digital

With a runway of a year or more before the Federal Reserve and other major central banks can launch digital currencies, bitcoin and other private cryptocurrencies could gain a foothold in electronic commerce. European Central Bank President Christine Lagarde says bitcoin needs to be regulated. (European Central Bank, modified by CoinDesk) Source linkRead More

Blockchain

Turkey to Pilot Digital Currency in 2021, Says Central Bank

Turkey will begin piloting a previously undisclosed digital currency in the second half of 2021, the country’s chief central banker Naci Ağbal told members of parliament Friday. “There is an R&D project initiated on digital money. Currently the conceptual phase of this project has been completed. We aim to start pilot tests in the second […]Read More

Regulation

Central Bank Digital Currency ‘Incredibly Rich Area’ Says IMF

Tao Zhang, Deputy Managing Director of the International Monetary Fund (IMF) has made a strong argument for the development of Central Bank Digital Currency (CBDCs). He asserts that as a new asset class they hold tremendous promise, notably for the developing world. BENEFITS OF DIGITAL CURRENCY EMPHASIZED Zhang discussed CBDCs in an address given at […]Read More