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Brazil authorizes its central bank to regulate crypto

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Brazilian President Luiz Inácio Lula da Silva has signed a new law empowering the country’s central bank to regulate and supervise cryptocurrency firms while ensuring that tokens that qualify as securities remain under the authority of the securities regulator. This development […]
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Kenyan central bank says CBDC not a priority

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Following a period of feedback collection on central bank digital currencies (CBDCs) earlier this year, Kenya’s central bank (CBK) has told the public that a CBDC is not a priority. Additionally, the CBK has expressed the view that the appeal of […]
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Nigerian central bank maintains stance on crypto withdrawal restrictions

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Nigeria’s cryptocurrency landscape has experienced ongoing turmoil, with citizens embracing digital assets while the government remains steadfast in its opposition. In response, the government has enforced a ban on cryptocurrencies, prohibiting individuals from engaging in crypto transactions through their bank accounts, […]
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Central banks fear CBDC risks, can’t keep up with fintech regulation

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Fintech Benchmarks 2023 brought into sharp focus the escalating conflict between emerging digital currencies and the traditional institutions that control monetary issuance. A significant proportion of central banks – approximately 73% – identified that their primary hurdle is staying abreast with […]
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Argentina’s citizens embrace crypto despite central bank ban

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Argentina is facing a challenging financial landscape, with its Central Bank imposing restrictions on cryptocurrency transactions via payment providers, even as the public increasingly adopts digital currencies to safeguard their wealth.  As Argentina’s economy grapples with economic turmoil and a surging […]
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UAE central bank rolls out CBDC strategy 

The Central Bank of the United Arab Emirates (CBUAE) has released its CBDC strategy. R3 and G42 Cloud have been chosen as the infrastructure and technology providers, with the first phase of the CBDC implementation expected to be completed within the next 15 months. The UAE commences CBDC implementation  The UAE has officially entered the […]
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Irish Central Bank head wants crypto ad ban

The head of the Central Bank of Ireland, Gabriel Makhlouf, has advocated for a ban on cryptocurrency-related advertising.  Cryptocurrency ads associated with ‘ponzi schemes’ Makhlouf believes that investing in cryptocurrencies that are not backed by any traditional assets is gambling and claims that advertisements that promote cryptocurrency projects often expose investors to high-risk investments and […]
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