Central Bank Financial News

A blockchain developer who claims to have reverse-engineered the source code of Brazil’s pilot central bank digital currency has discovered functions in the code that would allow a central authority to freeze funds or reduce balances. 

The Bank of International Settlement (BIS) has said that there could be up to 15 retail Central Bank Digital Currencies (CBDCs) and eight wholesale CBDCs before the end of the decade. 

Namibia’s National Assembly has adopted a bill to regulate digital assets, cryptocurrencies, and digital asset service providers in the country. 

Bitcoin (BTC) starts the first week of July with a sigh of relief for traders as $30,000 support holds. 

crypto assets, stablecoins and DeFi (Decentralised Finance). «Under India's G20 presidency, one of the priorities is to create a framework for global regulation of unbacked crypto assets, stablecoins and DeFi, by considering both macroeconomic and regulatory perspectives to address the full range of risks posed by crypto assets, including risks specific to emerging markets and developed economies,» the RBI said in the latest edition of the Financial Stability Report. The turmoil in crypto markets throughout 2022, which led to the bankruptcy of the largest crypto trading platform, and the failure of two banks in March 2023 have highlighted the growing linkages between the traditional banking system and the crypto ecosystem. The central bank has said that while the market capitalisation of stablecoins is relatively small, nearly $130 billion, when compared to the traditional financial system, there is a possibility of continued interconnectedness, giving rise to financial stability risk concerns and negative spillover risks, which may be difficult to contain once the systemic exposure crosses a threshold.

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The American central bank’s emergency fund for embattled banks has seen its highest level of distressed asset redemptions since its inception three months ago.

Central Bank Digital Currencies (CBDCs) may not solve any problems faced today, but could be the answer to ones not even fathomed yet, says the executive spearheading Australia’s CBDC pilot.

The American central bank has determined that all 23 of the country’s largest banks would be able to survive a severe recession following its “stress tests.”

Italy’s top banking authority has called for a “robust, risk-based” regulatory framework for stablecoins, which could help prevent a worst case scenario — a “run” on stablecoins.

Stablecoin has a lot of potential to harm emerging markets and developing economies, the Reserve Bank of India (RBI) claimed in its latest Financial Stability Report, released June 28. The report listed six threats that stablecoin presents.

Ether (ETH) price faced strong resistance at $1,920 after the 17.5% rally between June 15 and June 22. A number of factors contributed to the limited upside, including worsening macroeconomic conditions, the regulatory cryptocurrency environment, and weaker demand for decentralized applications (DApps) on the Ethereum network.

Fabio Panetta, an executive board member of the European Central Bank (ECB), has suggested a dark future for cryptocurrencies, in which the digital assets may be used for little more than gambling among investors.

The European Investment Bank (EIB) has issued a blockchain-based digitial bond powered by environmentally-incentivized node infrastructure.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Slovakia will codify the right to use cash as a method of payment after a vote to amend the nation’s constitution passed in parliament on June 15. 

The European Union signed the Markets in Crypto-Assets (MiCA) regulations into law on May 31, making way for the landmark regulatory guidance on crypto assets and service providers to come into effect.

The Central Bank of Kenya received comments on a discussion paper on the potential issuance of a digital shilling, and hasn’t a definitive conclusion. 

The global watchdog fighting money laundering and terrorist financing has slammed Qatar Central Bank (QCB) for making little effort to enforce its own regulations prohibiting virtual asset service providers.

Georgia, a major cryptocurrency-friendly country among Post-Soviet states, is preparing to start monitoring crypto firms to prevent money laundering and comply with sanctions.

Blackrock CEO Laurence Fink believes the recent "drama" around the United States debt ceiling has deteriorated global trust in the U.S. dollar, something that other analysts predict could provide some tailwinds for Bitcoin (BTC).