Central Bank of Brazil Links Stablecoin Growth to Tax Evasion and Money Laundering

February 10, 2025 Bitcoin.com

bitcoin.com

The new president of the Central Bank of Brazil has linked the rapid growth of stablecoins with tax evasion and money laundering. He remarked that individuals use these tools for cross-border payments to maintain an “opaque vision for taxation or money laundering.” Central Bank of Brazil States Stablecoin Volumes Linked to Tax Evasion and Money […]

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South African Central Bank Chief Criticizes Crypto Lobbying Efforts, Warns of Regulatory Capture

January 22, 2025 Bitcoin.com

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Lesetja Kganyago, governor of the South African Reserve Bank, criticized crypto lobbyists at the World Economic Forum in Davos for pushing countries to add Bitcoin to their reserves. South Africa Central Bank Chief Questions Lobbyists’ Focus on Bitcoin The governor of the South African Reserve Bank (SARB), Lesetja Kganyago, has slammed crypto lobbyists calling on […]

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Kenyans HODL On: Crypto Use Soars Despite Central Bank Warnings, Study Finds

January 16, 2025 Bitcoin.com

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A new study found that typical Kenyan crypto users to be under 40. Kenyans not only trade cryptocurrencies but use them for investment and as a hedge against inflation. Kenya Seeks IMF Assistance According to a study by a Kenyan Technical Working Group, Kenyan residents continue to trade cryptocurrencies despite repeated warnings from the central […]

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Hong Kong launches initiative to help banks with DLT adoption

January 9, 2025 Coin Telegraph

Banks

The initiative will initially focus on tokenized deposits with the HKMA providing support to local banks for trials.

The Hong Kong Monetary Authority (HKMA) has launched an initiative to assist banks in adopting distributed ledger technology.

On Jan. 8, the Hong Kong central bank announced the launch of its “Supervisory Incubator for Distributed Ledger Technology,” which aims to help banks safely implement distributed ledger technology into their operations and maximize the benefits.

“As the banking industry continues to evolve, it is essential that we provide a supportive environment for innovation to thrive,” said Arthur Yuen, deputy chief executive of the HKMA.

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Norway supports MiCA, considers CBDC for financial stability

November 9, 2024 Coin Telegraph

CBDC

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.”

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Norway’s Central Bank on CBDC Progress: We’re Not Falling Behind

October 24, 2024 Bitcoin.com

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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 […]

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Governments must tax or ban Bitcoin to maintain deficits: Minneapolis Fed

October 21, 2024 Coin Telegraph

Bitcoin

The Federal Reserve Bank of Minneapolis suggests that a ban or tax on Bitcoin could ensure its ability to run permanent budget deficits.

A recent research paper by the Federal Reserve Bank of Minneapolis has suggested that assets such as Bitcoin would need to be taxed or banned for governments to maintain deficits.

In an economy where the government tries to maintain permanent deficits using nominal debt, the presence of Bitcoin (BTC) creates problems for policy implementation, the Minneapolis Fed stated in a working paper released on Oct. 17.

Bitcoin introduces a “balanced budget trap,” an alternative state where the government is forced to balance its budget, the Fed claimed.

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JPMorgan: Gold and Bitcoin Surge as Debasement Trade Gains Momentum

October 4, 2024 Bitcoin.com

Bitcoin

Global investment bank JPMorgan’s analysts have highlighted the growing impact of the “debasement trade” in boosting gold and bitcoin prices. Gold’s rise is linked to inflation, geopolitical instability, and waning trust in fiat currencies. Both institutional and retail investors are viewing gold and bitcoin as safe havens amid global economic uncertainty, with future trends depending […]

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US election outcome won’t slow Q4 Bitcoin rally, says hedge fund

September 30, 2024 Coin Telegraph

Apollo Crypto

Neither US party has attempted to adequately address the country’s spiraling debt and deficit problem, which will play into Bitcoin’s hands post-election, says a hedge fund manager.

Bitcoin’s price will benefit from the upcoming United States presidential election regardless of who wins, according to the investment chief behind ZX Squared Capital.

The impact of April’s Bitcoin halving event has historically led to strong fourth quarters, and both US presidential candidates have failed to address a key issue that could play into Bitcoin’s favor, CK Zheng, chief investment officer of crypto hedge fund ZX Squared Capital, told Cointelegraph.

Bitcoin (BTC) has also benefited from uncertainties stemming from previous US presidential elections before the winning party was declared, and Zheng believes it won’t be any different this time.

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Bitcoin monthly close, fresh bullish narratives lead BTC traders to aim for new price highs

September 29, 2024 Coin Telegraph

Bitcoin Price

Bitcoin’s monthly close could reverse a 6-month-long downtrend and signal traders’ intent to push BTC price to new highs.

Bitcoin (BTC) price is on the verge of a notable trend change in its weekly and monthly timeframe chart. On both timeframes, a close above $65,000 sets a higher high and breaks the trend of lower highs which has defined BTC’s price action fo the past 6 months.

BTC/USDT weekly chart. Source: TradingView

Prior to this week’s rally above $66,000, the crypto market had been suffering from narrative exhaustion but a new set of catalyst have led traders to believe Bitcoin price is ready to embark on the next leg higher.

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