Central Bank Financial News

03.03 / 17:11

cryptocurrency Central Bank Bitcoin Lawyer Cut Central Bank out of Russian Crypto Regulation Picture, Urges Lawyer as Ukraine War Rages On

The time has come to fast-track crypto mining regulation, a leading Russian lawyer has advised – even if this means removing the Central Bank from the equation.

03.03 / 16:35

Central Bank Beijing Bitcoin Bitcoin Transactions China's share in Bitcoin transactions declined 80% post crackdown: PBoC

People’s Bank of China, the central bank of the country, claimed in a recent note that China's share in the global Bitcoin (BTC) transactions has rapidly dropped from over 90% to 10%.

03.03 / 03:25

CBDC Adoption Central Bank banking Winter Olympics China’s Digital Yuan Set for Local Adoption, Airport, Banking Drives

China’s digital yuan is edging ever closer to a nationwide rollout, with banks, airports, and provinces looking to boost their adoption efforts following last month’s Winter Olympics and ahead of the Paralympic Winter Olympics.

02.03 / 16:29

Investing Central Bank banking Ruble diving Russian Consumers, Firms Feeling Impact of Sanctions as Ruble Keeps Diving

Ordinary Russians are increasingly starting to feel the bite of Western-led sanctions, media reports from inside the country have indicated.

28.02 / 11:57

economics Central Bank Ukraine war Ruble Russians Ditch Ruble, Central Bank Scrambles as Fiat ‘Destruction’ Looms

Reports on social media claim that citizens in Russian have been spending their cash on luxury items, electronics, and other goods in a bid to dump the ruble before the markets reopen today.

25.02 / 22:07

economics Central Bank banking Ruble Russian Central Bank Ramps up USD Exchange Rate as Ruble Run Worries Mount

Russia’s Central Bank is desperately trying to avoid a run on the fiat ruble in response to incoming sanctions measures from the EU, the United States, and their allies. And as the Ukraine crisis deepens, the bank has unleashed yet more extreme measures – which may eventually include freezing citizens’ foreign exchange funds.

22.02 / 17:29

CBDC Digital Platform Central Bank Caribbean CBDC Stays Down for More Than a Month as Technical Woes Continue

DCash, a central bank digital currency (CBDC) commissioned by the Eastern Caribbean Central Bank (ECCB), has remained offline for more than a month as technical issues continue to impact the platform, triggering growing concern among its users.

22.02 / 14:09

Adoption Central Bank NOT Crypto Twitter is not happy with the name and logo of Jamaican CBDC

The Bank of Jamaica revealed the name of its upcoming central bank digital currency (CBDC) after a design competition, only to receive backlash from the local crypto community.

21.02 / 19:39

Government Law Central Bank Russia’s Finance Ministry introduces digital currency bill, brushes off Central Bank’s objections

Russia’s Ministry of Finance has upped the stakes in its drawn-out showdown against the country’s Central Bank by formally introducing a bill that proposes to regulate digital assets rather than banning them.

19.02 / 22:13

Government Law Central Bank Clarity pushed back: Russian government fails to forge a consolidated stance on crypto regulation

On Feb. 18, the Russian Ministry of Finance kicked off public consultations on the rules of cryptocurrency issuance and transactions. While a welcome development, it is less than the country’s crypto space had expected to get. Earlier in the week, the government announced that by Feb. 18, a bill containing the finance ministry and central bank’s consolidated position on crypto regulation would be drafted. Updated estimates suggest that it will take at least another month for draft legislation to see the light. The main reason for the delay appears to be the central bank’s renewed resistance, which just several days ago seemed to have been overcome. Here is a roundup of the latest twists in this rocky ride.

18.02 / 19:29

cryptocurrency regulation Central Bank collapses Russian Crypto Consensus Collapses into Utter Chaos as Finance Ministry, Central Bank Present Rival Bills

The rest of the world may be talking about the imminent threat of war between Russia and Ukraine, backed by Western allies, but in Moscow, the talk of the political town is...crypto.

17.02 / 18:27

cryptocurrency Ban Central Bank Late Drama Threatens to Disrupt Russian Crypto Regulation Plans

Friday is supposedly D-Day for Russian parliamentarians, who are set to unveil their much-talked-about draft crypto regulation bill – but the drama continues to rumble on, leading some to questions whether the law will indeed pass as quickly as some have hoped.

16.02 / 13:15

Adoption Sport Central Bank Winter Olympics Here’s how much digital yuan used at Olympics, according to PBoC

The 2022 Winter Olympics participants, visitors and organizers could be spending more than $300,000 in China’s digital yuan every day, according to new reports citing officials from the People’s Bank of China.

15.02 / 18:12

cryptocurrency Central Bank Russian Central Bank & Government Fail to Agree on Crypto Regulation; New Limits Proposed

Senior officials from the Russian government and the Bank of Russia, the country’s crypto-skeptic central bank, did not manage to reach an understanding on the means to regulate the Russian cryptoasset market -- while the Deputy Finance Minister now proposes a buying limit for "unqualified investors" of USD 665.

15.02 / 16:49

Government Central Bank Bitcoin Ruble Digital ruble trial goes live as Bank of Russia insists on Bitcoin ban

Amid more reports on the Bank of Russia rejecting the finance ministry’s proposal of cryptocurrency regulation, the central bank has kicked off trials of its own digital currency.

14.02 / 17:41

Mining regulation Central Bank Russian Central Bank Still Opposes Crypto Regulation Plans

The race to launch crypto regulations in Russia could still be halted by the country’s Central Bank, which, despite reports to the contrary, is still not happy about recently unveiled plans to “legalize” crypto and bring the industry under a regulatory umbrella. But the pro-business (and reservedly pro-crypto) Ministry of Finance has moved to reassure the bank that its concerns will be met with a piece of draft legislation set to be unveiled on Friday this week.

11.02 / 23:33

regulation Ban Central Bank Consultations India’s finance minister waiting for consultations to decide whether to ban or regulate crypto

Yet another statement by a top Indian official suggests that regulatory uncertainty around the status of digital assets in the country will persist in the near term.

11.02 / 17:19

cryptocurrency Central Bank Tax New Russian Law ‘Will Dampen Public’s Interest in Crypto’, Says Biz Leader

A business leader has said that a soon-to-be-unveiled Russian draft crypto regulation bill – which proposes bringing crypto into a strict regulatory framework – is effectively a way to discourage Russians from using cryptoassets.

08.02 / 04:17

CBDC Adoption Sport Central Bank China’s Winter Olympic Digital Yuan Gets Frosty Reception from Some ‘Foreigners’

China is continuing in its efforts to wow the world with its digital yuan at the Winter Olympic Games, which got underway on Friday last week. But it appears that not all attendees – both Chinese and overseas visitors – have been blown away by the token’s usability.

02.02 / 00:13

CBDC Adoption Central Bank Year of the Tiger May Be the Year of the Digital Yuan as China Celebrates with More CBDC Adoption

For millions of Chinese people living in the “10+1” pilot cities trialing the digital yuan, the Year of the Tiger is off to a lucrative start, with companies on an adoption drive that is seeing them slash prices for digital CNY customers, give away tokens and more.

01.02 / 14:55

economics stocks Federal Reserve Central Bank Low Support Low Real Interest Rates Support Asset Prices, But Risks Rising for Market

Nassira Abbas is a deputy division chief in the Global Markets Monitoring and Analysis Division of the Monetary and Capital Markets Department at the International Monetary Fund (IMF). Tobias Adrian is the Financial Counsellor and Director of the IMF’s Monetary and Capital Markets Department._____

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