Search Results for: currency
Putin signs law giving cryptocurrency legal status in Russia
August 4th, 2020
Russia’s bill to regulate cryptocurrencies has been signed into law by President Vladimir Putin. The new law gives legal status to cryptocurrency but prohibits its use as a means of payment. Russian Crypto Bill Signed Into Law Russian President ...
What is ‘LBCOIN,’ the new Lithuanian state-backed cryptocurrency?
July 24th, 2020
The ongoing COVID-19 pandemic has accelerated the development of digital currencies by central banks in a bid to encourage people to turn to cashless payments. One such project is being led by Lithuania’s Central Bank, which will open a ...
China takes battle for cryptocurrency hegemony to new stage
June 16th, 2020
Global competition for supremacy in digital currencies has entered a new phase with China’s creation of an East Asia cryptocurrency scheme and American social media company Facebook adjusting its Libra plan in line with the stance of U.S. regulators. ...
European Central Bank digital currency – a flight of fancy?
May 13th, 2020
Speech by Yves Mersch, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Consensus 2020 virtual conference, 11 May 2020 11 May 2020 A recent survey among 66 central ...
Facebook’s Libra cryptocurrency gets revamp in response to backlash
April 22nd, 2020
Facebook’s planned cryptocurrency Libra will be linked to individual national currencies and overseen by global watchdogs in a scaled-back revamp it hopes will win regulatory approval. The prospect of Facebook’s 2.5 billion users adopting Libra has led to intense ...
Cryptocurrency value rises over $14 billion in 24 hours as bitcoin rallies 10%
March 24th, 2020
Cryptocurrency prices rallied on Tuesday even as equity markets continue to come under pressure due to coronavirus fears weighing on investors’ sentiment. Bitcoin was up over 10% from 24 hours previously, trading at $6,569.17 at around 11:57 a.m. Singapore ...
Facebook ‘rethinks’ plans for Libra cryptocurrency
March 5th, 2020
Facebook is reportedly rethinking its plans for its own digital currency after resistance from regulators. It is now considering a system with digital versions of established currencies, including the dollar and the Euro, according to Bloomberg and tech site ...
European Central Bank is continuing digital currency research
January 9th, 2020
ECB Prez Christine Lagarde Says Central Bank Digital Currency Could Have Major Implications for the Financial Sector In her first public remarks of the new year, European Central Bank President Christine Lagarde affirms that the ECB is continuing to ...
France to test its Central Bank digital currency in Q1 2020: Official
December 5th, 2019
The central bank of France plans to pilot a central bank digital currency (CBDC) for financial institutions in 2020. François Villeroy de Galhau, the governor of the Bank of France, announced that the bank will start testing the digital ...
China prepares to launch its own digital currency as Facebook’s Libra languishes
November 13th, 2019
China is moving closer to releasing the world’s first government-backed digital currency. Li Wei, the head of technology for the People’s Bank of China, the central bank, said on Monday that commercial banks should increase their use of blockchain ...
