Bank for International Settlements: The Rise of Stablecoins and DeFi Make Central Bank Currencies “Urgent”
Traditional banking is under threat, according to Benoit Coeuré, the director of the Bank for International Settlements’ Innovation Hub. According to Benoit Coeuré, head of the Bank for International Settlements ‘ (BIS) Innovation Hub, key pillars of today’s cryptocurrency economy, such as stablecoins and decentralized financial infrastructure (DeFi), pose a danger to the world’s central […]
CBDCs could have a negative effect on interest rates – Wall Street Journal
Central bank digital currencies (CBDCs), according to the Wall Street Journal, might have a detrimental impact on interest rates by providing the central bank more power over interest rate adjustments. Senior columnist James Mackintosh suggested in his Sept. 8 article, ‘Digital Currencies Pave Way for Deeply Negative Interest Rates,’ that the distinction between a CBDC […]
Honduras and Guatemala are studying CBDCs and the values they bring
Following El Salvador’s Bitcoin debut, Honduras and Guatemala, two Central American countries, are studying central bank digital currencies and the value they could bring to their respective monetary systems. Rather than adopting an existing cryptocurrency as legal money, as El Salvador did, Honduras and Guatemala’s central banks are now researching central bank digital currencies (CBDC). […]
Crypto regulation has been endorsed by Brazil’s central bank
The Brazillian Central bank head Roberto Campos Neto spoke about the country’s CBDCs project and also recognizes the demand for greater crypto regulation as the country evolves in the market. Roberto Campos Neto, president of the Central Bank of Brazil, spoke at an online session hosted by the Council of the Americas about transparent payment […]
Afroblocks suggests Ghana’s CBDCs should emulate cryptocurrencies
Afroblocks’ co-founder Omar Majdoub urges Ghana’s central bank to involve the expertise of an experienced crypto expert to help in the success of the e-cedi. The Bank of Ghana’s (BoG) latest central bank digital currency (CBDC) effort has been regarded with mistrust, as Afroblocks, an in-house independent association, speculates on the central bank’s goals. While […]