Utah Senator Seeks to Abolish Federal Reserve

June 14, 2024 Bitcoin.com

bitcoin.com

Republican Senator Mike Lee from Utah has introduced legislation to abolish the U.S. central bank and its Board of Governors. Lee contends that the U.S. Federal Reserve has “repeatedly failed” the American public and argues for its dissolution. Federal Reserve Targeted for Abolition by Senator Mike Lee Following the lead of House Representative Thomas Massie […]

Russia Cautious on Tokenizing Real-World Assets

Thai Finance Minister Revokes Crypto Exchange Zipmex’s Licenses

June 13, 2024 Bitcoin.com

Bitcoin

The Securities and Exchange Commission (SEC) of Thailand announced Monday that the Thai Minister of Finance has revoked Zipmex’s digital asset exchange and broker licenses effective May 28, 2024. This decision, which followed the Thai SEC Board’s recommendation, was based on concerns over the crypto trading platform’s financial stability, inadequate management structure, and insufficient personnel, […]

Russia Cautious on Tokenizing Real-World Assets

Experts Say Dollar Dominance Debate Misses the Point, US Needs Economic Focus

June 11, 2024 Bitcoin.com

bitcoin.com

Two experts have explained that the global debate on the future of dollar dominance misses the point because it doesn’t focus on how the dollar’s future will evolve. They warned: “If the U.S. doesn’t keep its house in better order, dollar dominance will be the least of our worries.” Experts Discuss US Dollar’s Dominance Steven […]

Russia Cautious on Tokenizing Real-World Assets

Crypto enthusiasts warn against naira trade ban on exchanges

June 8, 2024 Coin Telegraph

blockchain technology

Due to the rapid decline of the naira and the resulting almost three-decade-high inflation rate of 29.9%, the Nigerian government has turned its focus to platforms providing cryptocurrency services.

Some Nigerian crypto enthusiasts believe that the country’s decision to halt naira trading on cryptocurrency exchanges will likely worsen matters for the volatile fiat currency.

In an interview with Cointelegraph, Rume Ophi, the executive secretary of the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), stated that the official Nigerian narrative that global cryptocurrency platforms contributed to the naira’s depreciation is impractical.

Ophi said Nigeria can effectively regulate the cryptocurrency industry through a framework introduced by the Nigerian Securities and Exchange Commission (SEC) in 2022.

Russia Cautious on Tokenizing Real-World Assets

Rwanda Develops CBDC to Avoid Falling Behind, Central Bank Deputy Governor Says

June 4, 2024 Bitcoin.com

Africa

Rwanda is contemplating launching a Central Bank Digital Currency (CBDC) because it does not want to be left behind and to prevent any hindrances to trade between the African country and its major trading partners. According to a deputy governor with the National Bank of Rwanda, the country should be prepared for digital currencies being […]

Russia Cautious on Tokenizing Real-World Assets

Survey: 77% Believe Presidential Candidates Should Be Informed on AI and Crypto

June 1, 2024 Bitcoin.com

2024 election

The Grayscale-Harris Poll survey, conducted in April-May 2024, reveals crucial insights into American likely voters’ views on cryptocurrency and its potential impact on the upcoming presidential election. The survey, involving over 2,000 adults, highlights key trends such as high interest in crypto among young, minority, male, and Democratic voters. Significant findings include 97% of likely […]

Russia Cautious on Tokenizing Real-World Assets

IMF Calls Zimbabwe’s Gold-Backed Currency an ‘Important Policy Action’

May 24, 2024 Bitcoin.com

Africa

The International Monetary Fund (IMF) has stated that Zimbabwe’s recently introduced gold-backed fiat currency represents a significant policy step. This is the IMF’s first substantial comment on the currency since its inception. The global lender has reportedly announced plans to send a team in June to evaluate the performance of the new currency. Contrasting IMF […]

Russia Cautious on Tokenizing Real-World Assets

Indian Central Bank RBI Warns Retail Investors of Crypto’s Lack of Accountability and Stability

May 23, 2024 Bitcoin.com

Bitcoin

The Reserve Bank of India (RBI)’s May 2024 bulletin warns retail investors that “the crypto ecosystem lacks accountability and stability and is marked by regulatory ambiguity.” The Indian central bank also cautioned that some cryptocurrency systems may be “prone to crisis without safeguards.” RBI Bulletin’s Crypto and Defi Warnings India’s central bank, the Reserve Bank […]

Russia Cautious on Tokenizing Real-World Assets

Global Banking Authorities Extend Crypto Regulatory Framework Deadline

May 15, 2024 Bitcoin.com

basel III

The Group of Central Bank Governors and Heads of Supervision (GHOS) has reviewed the implementation of Basel III reforms and postponed the crypto asset standard implementation date to January 1, 2026. Basel III, finalized in 2017, continues to see widespread adoption, with two-thirds of member jurisdictions expected to implement the reforms fully or partially by […]

Russia Cautious on Tokenizing Real-World Assets

Bank of Canada Governor Warns of ‘Sharp Correction’ Risks in Markets and ‘System-Wide Stress’

May 12, 2024 Bitcoin.com

Banking system

In his speech on the release of the Financial Stability Report, Tiff Macklem, Governor of the Bank of Canada, sought to emphasize the purported strength of Canada’s financial system while cautioning against ongoing risks that could precipitate a “sharp correction” in markets, potentially leading to widespread financial strain. “Some indicators of financial stress have risen,” […]

financial stability

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