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Zimbabwean Central Bank Launches CBDC Consumer Survey

November 11, 2022 by admin

The Zimbabwean central bank has said it is “conducting a CBDC [central bank digital currency] Consumer Survey to solicit opinions on the design and nature of the CBDC and its overall acceptance by the public.” The bank said the information obtained via this process will be “treated with the utmost confidentiality and the results …

Displaying US Dollar Prices Still Prohibited, Ghanaian Central Bank Tells Actress Lydia Forson

November 5, 2022 by admin

The Bank of Ghana recently warned businesses quoting U.S. dollar prices that the practice is still prohibited and that the cedi remains Ghana’s sole legal tender. The bank said it is working with law enforcement to “clamp down on illegal foreign exchange operations.” In addition to naming and shaming businesses violating the law, a …

Binance CEO Sees No Threat to Crypto From Central Bank Digital Currencies — Says CBDCs Will Validate Blockchain Concept

November 4, 2022 by admin

Binance CEO: Central Bank Digital Currencies Not a Threat to Crypto — CBDCs Will Validate Blockchain Concept

The CEO of cryptocurrency exchange Binance does not see central bank digital currencies (CBDCs) as a threat to cryptocurrencies, like bitcoin and ether. “It will validate the blockchain concept so that anybody who still has concerns about the technology will say: ‘Ok, our government is using the technology now,’” he opined. CZ Sees No …

Chinese Central Bank Governor: User Privacy and Financial Security Key Principles Guiding CBDC Design Process

November 2, 2022 by admin

According to Yi Gang, governor of China’s central bank, the process of designing the country’s digital currency is premised on two principles, the protection of user privacy as well as ensuring “financial security.” To achieve this, the central bank’s role will be limited to managing the digital currency’s “operating system” while the handling of …

Report: US Central Bank Loses Billions From Rate Hikes, ‘Losses Pile up Into an IOU’

October 25, 2022 by admin

While the U.S. Federal Reserve ramped up the benchmark bank rate with a barrage of rate hikes, U.S. Treasury markets and global bond markets, in general, have seen one of the worst selloffs in over a decade. The Fed’s actions has fueled criticism toward the U.S. central bank as some strategists believe the onslaught …

Eswatini Central Bank Partners With German Firm to Explore CBDC

October 19, 2022 by admin

Eswatini recently became the latest African country to jump on the central bank digital currency (CBDC) bandwagon after its central bank selected Giesecke Devrient, a Germany-based technology firm, as its partner. An agreement signed by both parties aims to enable them to deepen their “understanding of the practicalities of implementing a CBDC in Eswatini.” …

Kenyan Central Bank Raises Key Rate by 75 Basis Points

October 4, 2022 by admin

The monetary policy committee of the Kenyan central bank recently revealed it increased the central bank rate by 75 basis points from 7.5% to 8.25%. Justifying its decision to act, the committee cites growing inflationary pressures and increased global risks, as well as their likely impact on the domestic economy. Growing Inflationary Pressures Following …

Fed Chair Jerome Powell Updates Work on Digital Dollar — Says US Central Bank Digital Currency Will Take ‘at Least a Couple of Years’

September 29, 2022 by admin

Federal Reserve Chairman Jerome Powell says the U.S. central bank is looking at whether to issue a digital dollar with a “very broad scope.” He noted that the Fed is collaborating with Congress and the executive branch on whether to issue a central bank digital currency. Fed Chair Powell on Digital Dollar Progress Federal …

Central Bank of China Calls for Increasing Use of Digital Yuan

September 12, 2022 by admin

Central Bank of China Calls for Increasing Use of Digital Yuan

The People’s Bank of China has urged for widening of the array of use-case scenarios for its central bank digital currency. The monetary authority believes that deeper interconnection with traditional e-payment platforms will make the digital yuan more convenient for consumers. China’s Central Bank Insists on Expanding Digital Yuan Environment The monetary policy regulator …

Fintech Unicorn Flutterwave Granted ‘Game Changing’ License by Nigerian Central Bank

September 3, 2022 by admin

The Nigerian fintech Flutterwave has said the switching and processing license it recently received from the Central Bank of Nigeria allows it to “deliver an improved experience to our customers.” The new license is said to allow Flutterwave to “connect every single store of value in Nigeria to global commerce.” New License Said to …

The Central Bank of Colombia Is Studying the Creation of a Digital Currency

August 20, 2022 by admin

Contral Bank of Colombia

The Central Bank of Colombia is studying the launch of a digital currency, according to statements made by its manager, Leonardo Villar. The organization is evaluating the launch of this instrument as a means of unifying the different digital wallets in the country, making them interoperable and easier to use for customers. Central Bank …

Binance CEO Meets Central African Republic Leader — President Touadéra Says Meeting Was a ‘Truly Remarkable Moment’

August 7, 2022 by admin

Binance CEO Meets Central African Republic Leader — President Touadéra Says Meeting Was

After meeting the leaders of Ivory Coast and Senegal in July, the CEO of the cryptocurrency Binance, Changpeng Zhao, revealed in a tweet that he had recently met the President of the Central African Republic (CAR). Some of the topics discussed by the two were focused on “education, investments and crypto adoption in the …

South African Professor Accuses Central Bank Official of Spreading Misinformation That Damages Crypto Industry

August 3, 2022 by admin

A South African professor, Steven Boykey Sidley, has branded as “balderdash” claims by the South African central bank deputy governor that “90% of cryptocurrency transactions” are illicit. The professor also accused the senior central bank official of spreading inaccurate information that “does immeasurable damage to an important new industry.” Only 0.15% of Crypto Transactions …

Report: The Central African Republic Requests Regional Central Bank’s Assistance in Crafting Crypto Regulations

July 31, 2022 by admin

Report: The Central African Republic Requests Regional Central Bank

A new report has claimed the Central African Republic, which became the first country in Africa to make bitcoin legal tender, recently requested the regional central bank’s assistance in developing a cryptocurrency regulatory framework. The report also said the CAR had expressed its “commitment to the single currency and respect for the statutes of …

Central African Republic Token Sale off to Slow Start — $1.26 Million Raised in Under 5 Days

July 30, 2022 by admin

Central African Republic Token Sale off to Slow Start — $  1.26 Million Raised in Under 5 Days

The Central African Republic’s token sale appeared to have gotten to a slow start after less than 13 million out of the 210 million Sango coins were sold since the commencement of the sale on July 25. The country has claimed its decision to adopt bitcoin has won praise from “other African countries exploring …

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