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Central Bank News and Articles



Central bank

Former head of the CB of China didn't see threats to SWIFT in digital yuan

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The digital yuan is primarily intended for the public and merchants, not to replace SWIFT or weaponize the currency. This was stated by the former head of the People's Bank of China Zhou Xiaochuan. The expert emphasized that e-CNY is not necessarily suitable for cross-border payments. For such...

Central bank

The Swedish CB will test the digital krona through smart contracts

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In April 2021, the Bank of Sweden announced the completion of the first phase of testing the digital version of the krona. In a statement, the regulator noted that technical problems arose during the tests, but in general, they were successful. Last Wednesday, the central bank of this northern...

Romania

The CB of Romania intends to acquire a blockchain platform

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Recently, the CB of Romania announced that it had permitted Elrond to purchase the Twispay blockchain platform, with the help of which, in the future, the regulator will be able to issue its stablecoin. Elrond is a government-backed blockchain firm concentrated on distributed applications. It was...

India

Indian Ministry of Finance: Central Bank may launch a token in 2022

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At the end of last year, the Central Bank announced the launch of the digital rupee (CBDC). The regulator analyzed the consequences of integrating the token into the state financial system and concluded that CBDC will become one of the drivers for its modernization. Indian Finance Minister Nirmala...

Russia

The CB of Russia didn't soften the attitude towards BTC

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The Bank of Russia still advocates a complete ban on the circulation and mining of cryptos. This was stated by the head of the expert group of the Department of Financial Technologies of the CB of the Russian Federation Maria Telegina. The sanctions did not force the regulator to reconsider its...

Jamaica

Jamaican Prime Minister thinks 70% of the residents will use CBDC

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Back in 2020, the Central Bank of Jamaica announced its readiness to launch its token. The regulator already then began to negotiate with IT companies that should help the country create a national digital currency. Prime Minister Andrew Holness told reporters that he has no doubts about the...

Argentina

Argentina's central bank prepares to fight crypto speculators

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Every year, digital assets are attracting more and more interest from ordinary Internet users. This indisputable fact lures a huge number of speculators who want to cash in on incompetent consumers who have just started to join the crypto space. Recently, in some provinces of Argentina, dubious...

Kazakhstan

Central Bank of Kazakhstan reveals details of its CBDC concept

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In May, the head of the National Bank of Kazakhstan, Yerbolat Dossayev, said that testing the digital tenge (CBDC) could begin this year. This week, the Central Bank published a report in which it revealed some details of its concept of a national digital currency. This document states that the...

Thailand

Thai authorities are preparing tough rules for the cryptosphere

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The central bank of Thailand has said it will not allow the financial sector to be destabilized. To this end, the regulator plans to develop a regulatory framework for the cryptosphere that will not allow digital currencies to squeeze out the traditional banking system. In January, the Central Bank...

Thailand

CB of Thailand demanded from banks to stop working with cryptos

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The Bank of Thailand plans to launch a national digital currency (CBDC). Back in the spring, the regulator announced trials of its token. At the same time, the Central Bank is very negative concerning bitcoin and other virtual coins. On December 7, the Central Bank issued a decree requiring...

Russia

The CB of Russia plans to publish a report on the crypto market

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The management of the Bank of Russia strongly opposes the recognition of bitcoin as a legal payment instrument. The head of the Central Bank Elvira Nabiullina, periodically confirms her tough position and calls BTC a fraud and a financial pyramid. Soon, the regulator promises to publish its...

Canada

CB of Canada sees no threat to the economy from cryptos

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The Bank of Canada believes that no threats to the state's economy come from cryptocurrency. The position of the regulator was announced by its official representative Paul Baudry. The share of crypto payments is so low that their impact on the financial sector is hardly felt. However, the official...

UK

UK Central Bank advocates crypto regulation

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The head of the Bank of England, Andrew Bailey, has repeatedly stated that he has a negative attitude towards Bitcoin. In his opinion, cryptocurrency has no value. Its value is growing only because more and more people are investing in it. Each BTC holder should remember that, at any time, he can...

Japan

CB of Japan integrates its token into the payment infrastructure

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During the last week, Shinichi Uchida, Japan's central bank spokesman, said that the regulator plans to integrate the digital yen into the existing payment infrastructure. That is, the Japanese authorities do not want to reform the financial sector and adjust it to the token. Uchida stressed that...

South Africa

Another central bank joins the camp of bitcoin opponents

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Many central banks periodically criticize Bitcoin and other digital currencies. Last week, the People's Bank of China criticized digital currencies and urged citizens to stay away from such instruments. The Reserve Bank of South Africa has joined those regulators who refuse to recognize digital...

Swiss National Bank

The Swiss central bank does not plan to issue its token

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The Swiss National Bank (SNB) does not consider it necessary to launch a digital currency. The chief economist of the Central Bank, Carlos Lenz, announced there is no need for a digital franc. The current financial system of the state works fine even without a token. In parallel, Lenz criticized...

Turkey

Turkish CB criticized BTC's negative impact on environment

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The Central Bank of the Republic of Turkey presented a report to parliament detailing its views on cryptocurrencies. The document, which fell into the hands of journalists, lists the inherent risks of digital assets. In particular, the Central Bank drew attention to environmental problems....

Turkey crypto ban

Turkey Disallows Crypto Payments

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Turkey's central bank disallowed payments with cryptocurrencies and crypto assets saying they include transfer risks and can cause irrecoverable damage. Media of the country reported that the central bank's instructions placed at the “Regulation on the Disuse of Crypto Assets in Payments” paper...

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