The Monetary Authority of Singapore (MAS) says that stablecoins have the potential to become a widely adopted means of payment. In an interview with The Business Times, MAS managing director Chia Der Jiun says stablecoins have immense potential provided that regulations are in place to keep the crypto assets from straying from their linked value. […]
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Even with Bitcoin surging past $100,000 for the first time, some critics have remained skeptical about the cryptocurrency’s future.
Bitcoin, the world’s largest cryptocurrency by market capitalization, is no stranger to criticism from economists, politicians, bankers and investors.
Since its launch in 2008, Bitcoin (BTC) has been subject to countless hateful and skeptical reviews, with some critics calling it a scam or prophesying that Bitcoin is poised to go to zero.
As Bitcoin has grown and matured in the past few years, some critics have reinvented themselves as Bitcoin lovers, while others have dialed back their reasons for disliking the cryptocurrency.
The European Parliament’s Sarah Knafo said it’s time to stop “totalitarian temptations” by the European Central Bank and adopt Bitcoin.
European lawmaker Sarah Knafo called on the European Union to establish a strategic Bitcoin reserve while rejecting the proposed adoption of the “digital euro,” a central bank digital currency (CBDC) under development by the European Central Bank (ECB).
Knafo, a French magistrate and a member of the European Parliament since June, delivered a pro-Bitcoin (BTC) speech, calling on European lawmakers to launch a strategic BTC reserve.
“No to the digital euro, yes to a strategic Bitcoin reserve,” Knafo said in an X post, which included a video of her speech before the European Parliament.
European banking giant Societe Generale has successfully completed a collateralized market transaction using tokenized bonds issued in 2020 on the Ethereum (ETH) blockchain. Tokenized bonds are a digital representation of traditional bonds that can be held and traded on a blockchain. The immutable nature of blockchains aims to promise a tamper-proof recording of ownership and […]
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Iran’s central bank signals the imminent launch of the digital rial, a central bank digital currency (CBDC), to streamline payments and bolster international financial integration despite sanctions. Iran’s Central Bank Sends Clear Signals on the Digital Rial Breakthrough Central Bank of Iran (CBI) Governor Mohammad Reza Farzin discussed the digital rial, Iran’s central bank digital […]
According to the Atlantic Council, 134 countries are currently exploring CBDCs in different phases — including every G20 country.
The Reserve Bank of India (RBI) is seeking to expand its cross-border payments platform — which will allow instant settlement — by adding new trading partners in the Asia and Middle East regions.
According to Bloomberg, India already has an agreement with neighboring Sri Lanka, Bhutan, and Nepal, with plans to add the United Arab Emirates (UAE) to its cross-border settlement program.
India is also exploring using central bank digital currencies (CBDCs) as the primary settlement mechanism within its cross-border payment solution.
Norges Bank backs the EU’s MiCA regulation while considering a CBDC to enhance cross-border payments and support financial stability in Norway.
Norges Bank, Norway’s central bank, has endorsed the European Union’s Markets in Crypto-Assets Regulation (MiCA) as the country evaluates the potential adoption of a central bank digital currency (CBDC).
Kjetil Watne, project director for Norges Bank’s CBDC project, said in an interview with Cointelegraph that Norway, as a member of the European Economic Area (EEA), welcomes MiCA’s framework. However, he noted that the bank is still considering “whether additional regulations are necessary to promote financial stability.”
Watne explained that Norges Bank has “not yet decided” if it will issue a CBDC and is assessing how to “mitigate regulatory gaps related to decentralized finance.”
The explosive growth of central bank digital currencies, expected to surge 2,430% by 2031, could revolutionize global payments, slashing cross-border transaction costs by billions. The Global Payment Shake-Up: CBDCs Poised to Transform Transactions Juniper Research, a market research and consulting firm specializing in digital technologies and innovation, released a report on Monday, forecasting a massive […]
Norway’s central bank is on track to decide by 2025 whether to adopt a central bank digital currency (CBDC), but officials stress there’s no urgency. Despite Norway’s cashless society, with only 2% using cash, the bank is carefully studying both retail and wholesale CBDC options, emphasizing complex issues and the need for collaboration with other […]
The People’s Bank of China emphasized the Mbridge platform’s role in improving cross-border payments through the use of central bank digital currencies (CBDCs), aiming to reduce inefficiencies and avoid new barriers. The platform, which targets underserved regions like ASEAN, could reshape global finance and challenge the U.S. dollar’s dominance while requiring careful coordination to maintain […]