Japan’s Financial regulator to propose restriction of stablecoins
According to Nikkei Asia, Japan is considering new regulations that will enable only banks and wire transfer firms to create stablecoins. The Financial Services Agency (FSA), Japan’s primary financial regulator, is apparently considering legislation that would limit stablecoin supply to banks and wire transfer providers. Crypto service providers engaging in stablecoin transactions, such as wallets, […]
US Treasury Secretary calls for broad consensus on digital dollar
Janet Yellen, the US Treasury Secretary, has expressed her views on the possibilities of a digital dollar, although she is cautious to draw any conclusions at this time. Yellen said on Thursday that she had not developed an opinion on whether the Federal Reserve should construct a digital version of the dollar, but that such […]
CBDC can assist in tackling cryptocurrency – Bank of Indonesia’s assistant governor
According to the Bank of Indonesia, central bank digital currencies (CBDC) will be a crucial weapon for countering cryptocurrencies which have been seen to cause a catastrophic effect on the financial system of a nation. At a recent legislative meeting, Bank of Indonesia’s assistant governor Juda Agung indicated the central bank is considering releasing a […]
Bank of Tanzania purportedly makes plans to launch CBDC
According to Bank of Tanzania Governor Florens Luoga, the central bank has “already begun preparations” for a digital shilling (CBDC). Tanzania’s central bank, the Bank of Ta nzania, is apparently intending to launch a central bank digital currency, or CBDC, after neighbouring nations revealed similar plans. According to a Bloomberg story published on Friday, Bank […]
Japanese companies form a group to develop a Yen-based digital currency
About 70 of the largest financial institutions in Japan have formed a group in order to develop a new Yen-based digital currency in 2022. This move is indicating that the private sector is only now beginning to embrace blockchain-based payment. Kazuhiro Tokia, the CEO of crypto exchange DeCurret, may have made a statement claiming that […]