Reuters Financial News

China's central bank unexpectedly cut loan rates on Monday — a move that will likely put more downward pressure on the Chinese currency, one analyst said.

BEIJING — China's economy grew by 8.1% in 2021 as industrial production rose steadily through the end of the year and offset a drop off in retail sales, according to official data from China's National Bureau of Statistics released Monday.

The Indian prime minister has called for a collective global effort to tackle the challenges posed by cryptocurrencies as the country's crypto sector remains in uncertainty.

BEIJING — China's exports grew slightly more than expected in December, while imports rose less than expected, according to customs data released Friday.

Reuters reported late last year that the bank intended to hire 100 staff to kickstart its digital assets strategy.The head of TTS digital assets will be a member of the TTS partnership and innovation team and among other things will be charged with working with venture-backed startups in blockchain and digital assets in identifying their technical and commercial challenges and mapping them to Citi technology and products"This individual will lead global efforts in formulating a TTS digital assets strategy, building out cross-TTS/TTS digital asset products and capabilities, implementing a governance structure, and engaging with key internal and external stakeholders including partners, clients and regulators," states the job posting. The chosen candidate "will work closely with the in-business innovation and business development leads as well as product heads to identify, develop and scale capabilities, knowledge and products across first line (Product & Tech), and second line with an aim to create readiness for TTS with respect to digital assets.

“It’s an absolute bargain”.

Turkey is witnessing a resurgence in cryptocurrency trades of above one million per day due to a continuous devaluation of the country's currency, Reuters reported.

BEIJING — Chinese President Xi Jinping and Russian President Vladimir Putin held their second dedicated video call of the year Wednesday, amid rising international concerns about tensions on the Russia-Ukraine border.

BEIJING — Chinese President Xi Jinping is set to meet virtually with Russian President Vladimir Putin on Wednesday, China's Ministry of Foreign Affairs said Monday.

The cryptocurrency bill is expected to be tabled in the current session of the Parliament.

Britain’s Financial Conduct Authority Chief Executive, Nikhil Rathi recently raised caution in the crypto sector. The regulatory body has maintained the stance that crypto-related losses should not be eligible for compensation schemes on the back of illicit activities in the space.

Автор фото, Reuters

Nandan Nilekani, Chairman of Infosys

Singapore-based virtual currency exchange Coinstore has begun operations in India

A piece of virtual real estate in Decentraland was sold for a record value of $2.4 million in cryptocurrency, according to Reuters.

The company first launched its digital assets division in June this year.According to a report by Reuters the new team will be made up of both internal and external hires and be based across a number of international locations, including London, Tel Aviv, New York, and Singapore."Prior to offering any products and services, we are studying these markets, as well as the evolving regulatory landscape and associated risks, in order to meet our own regulatory frameworks and supervisory

Cryptocurrencies have the potential to disrupt human life as we know it. It has evolved as a strong asset class while making giant strides towards becoming a designated “currency.”

As the regulatory landscape in India is expected to slowly gain clarity on the crypto front, officials appeared bullish on an Indian CBDC next year. As per local reports, a senior central bank officer confirmed,

BEIJING — Ahead of an expected virtual meeting with U.S. President Joe Biden, Chinese President Xi Jinping said the country is willing to work with the U.S. — on condition of mutual respect.

The United States Securities and Exchange Commission (SEC) has remained mostly tight-lipped about cryptocurrency regulations so far. However, banking regulators in the country are reportedly developing a clearer path for banks that are looking to deal in cryptocurrencies. This is being done in a bid to control the rapidly growing asset, before it gets out of hand and fully emerges into the mainstream.