BoE Governor Mark Carney is suggesting that more thought should be given to creating a global electronic currency that could act as “synthetic hegemonic currency… provided… perhaps through a network of central bank digital currencies”.
The majority of respondents believe central banks should issue CBDCs. A total of 29% of respondents say CBDCs should be limited to wholesale purposes; while 24% favour CBDCs at the retail level. However, a 43% say central banks should steer clear of them altogether.
A new IMF paper discusses how fintech solutions in the Pacific islands can complement existing efforts to promote financial inclusion, enhance financial sector development, and increase inclusive growth potential, thereby reducing poverty.
Intensifying regulatory scrutiny of Facebook’s Libra digital currency has spooked some of the project’s early backers, with at least three privately discussing how to distance themselves from the venture.
Binance experienced issues with APIs and withdrawal processing due to network issues with Amazon Web Services on August 23. Amazon has confirmed to The Block that AWS has experienced a temporary outage in the Asia Pacific (Tokyo) region.
Crypto is a matter of concern for a number of tax departments around the world — primarily because they provide people with an avenue for commerce that expands beyond today’s existing financial systems. So, here are some crypto-centric economic frameworks that are being used by countries across the globe.
The vast majority of the world’s cryptocurrency trading volume is in the hands of “lower quality exchanges”, while the world’s top-rated exchanges control only 5 percent of cryptocurrency trading volume, according to a new report from CryptoCompare.
Over the past few years, Axoni, a distributed-ledger technology (DLT) firm, has been building the platform for Citigroup, Goldman Sachs, JP Morgan and other investors to make the convoluted process of reconciling equity swaps closer to a limpid one. The platform will eventually be open to any firm.
Since the partnership with MoneyGram, the XRP market in Bitso (Mexico) has been steadily growing.
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Published by kiffmeister
The Kiffmeister is a former Senior Financial Sector Expert at the International Monetary Fund.
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