IMF calls on El Salvador to discontinue Bitcoin’s legal tender status
The IMF executive board advised El Salvador to stop using bitcoin as legal tender owing to the financial risks and obligations caused. The proposal was made in a report released on Tuesday as a result of bilateral discussions concerning El Salvador ‘s economy. According to the study, IMF directors “emphasized that there are significant risks associated […]
Malaysia’s Central Bank is actively considering CBDC options
In 2021, Malaysia collaborated with South Africa, Australia, and Southeast Asian neighbor Singapore to develop a proof-of-concept CBDC pilot. Malaysia has joined a growing list of countries looking at the benefits of researching and implementing a central bank digital currency (CBDC). While a decision on how to proceed with a CBDC has yet to be […]
Mutual funds to be prohibited from investing in Bitcoin by Bank of Russia
The Bank of Russia issued an official statement on the regulation of mutual investment fund investment opportunities on Monday, December 13th. The Russian central bank has maintained its tight stance on the cryptocurrency business, with mutual funds now explicitly prohibited from investing in cryptocurrencies such as BTC . The Bank of Russia issued an official […]
Study reveals Australian women who own crypto has doubled in the past year
According to a new poll shared with TBEN, the number of Australian women who hold cryptocurrency has doubled in the last year. The number of women who are presently or have invested in cryptocurrency climbed from 10.3 percent in 2020 to 20% in 2021, according to the Independent Reserve Cryptocurrency Index (IRCI) of 2,000 Australians. […]
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, […]