PYMNTS

JUNE 21, 2019

The head of Germany’s central bank warned about stablecoins, which are cryptocurrencies tied to traditional currencies, according to a report by Reuters. Jens Weidmann said that if the new currency becomes widely used, it could undermine banks.

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The Fintech Times

MAY 26, 2024

Central bank digital currencies (CBDCs), digital money regulated by a country’s central bank, are currently being tested across the world. Yet many central banks have already actioned plans to introduce them. Developed and emerging markets alike are considering the possibility of introducing CBDCs.

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PYMNTS

MAY 27, 2020

But the question arises: Once they’ve been created and backed by central banks, what do you do with them once you have them? As noted in this space last week, about 80 percent of 66 central banks queried by the Bank of International Settlements (BIS) are working on central bank digital currencies (CBDC).

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PYMNTS

SEPTEMBER 16, 2019

Global central bank officials met with leaders from both Facebook’s Libra Association and JPMorgan to discuss policies and regulation around new cryptocurrencies, the Bank for International Settlements (BIS) said in a press release on Monday (Sept. The BIS is an umbrella organization for the world’s largest central banks.

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PYMNTS

DECEMBER 10, 2019

Policymakers at the European Central Bank (ECB) will meet in Frankfurt on Wednesday (Dec. Lagarde has vocalized that she favors central banks releasing electronic money. Bank of England Governor Mark Carney has even implied that an international central bank coin could supersede the U.S.

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PYMNTS

DECEMBER 24, 2019

It does not have the characteristics of bitcoin speculation, nor does it require the currency basket assets to support the value of the currency like stable currency.” According to past reports, in China, the central bank will debut a state-backed digital currency that will be first issued to seven institutions in that country.

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PYMNTS

JULY 7, 2020

Regulators are taking in an interest in stablecoins, with the Financial Action Task Force (FATF) noting in a report the digital currencies need to adhere to norms to offer protection from the terrorism financing and money laundering, Bloomberg reported.

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Clearly Payments

AUGUST 24, 2024

World Bank data indicates that global remittances reached $794 billion in 2023. Over 15,000 businesses worldwide accept Bitcoin payments as of 2024. Digital cash, whether in the form of cryptocurrencies or central bank digital currencies (CBDCs) , promises to redefine the future of money.

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PYMNTS

JULY 2, 2020

Cointelegraph described the initiative as “a stablecoin backed by a network of banks.” It’s a system that has been in place for a while, with oversight and regulation (and central banks) in place to keep fiat front and center in traditional banking. Senate Banking, Housing and Urban Affairs Committee Chairman Sen.

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PYMNTS

OCTOBER 14, 2020

As much as Bitcoin and other cryptocurrencies have attracted scrutiny from the Department of Justice and still lack mainstream acceptance, Voyager’s portfolio of so-called “stablecoins” (which are linked to an underlying currency such as the U.S. Ehrlich said stablecoins, including the U.S.

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PYMNTS

JANUARY 18, 2021

dollar will remain strong on the international stage and won’t be surpassed by bitcoin anytime soon, although it could be a veritable reserve currency, CoinDesk reported. Other than, you know, gold, bitcoin. Flynn purchased bitcoin for his roughly 450 clients, the report stated. Unless the U.S. Unless the U.S.

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PYMNTS

DECEMBER 24, 2020

Here are some of cryptos’ key developments for 2020: Bitcoin Goes Higher And Higher. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies. And one of the most notable events of 2020 was the big appreciation in bitcoin’s price, tied as it is (and was) to optimism about cryptos’ future.

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PYMNTS

OCTOBER 23, 2018

.” The Bank of Canada , TMX Group and Canada’s payment system teamed up for a test to settle and clear mock stocks using the blockchain, Bloomberg reported. The system, intended to be linked with market infrastructure already in place, enabled participants to settle mock securities with mock central bank cash.

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PYMNTS

APRIL 24, 2020

China is the first country to launch a central bank digital currency (CBDC) or digital currency electronic payment (DCEP). The digital yuan is structured using a central bank-issued CBDC for commercial banks and a commercial bank-issued CBDC focused on the public.

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PYMNTS

NOVEMBER 10, 2020

Treasury Department is researching use cases for a central bank digital currency (CBDC), as well as drafting regulatory proposals for private stablecoins, U.K. Regulators are slow, and there’s a reason we’re slow,” she said, speaking at CoinDesk ’s Bitcoin for Advisors event. “We

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PYMNTS

NOVEMBER 26, 2019

In other news, crypto exchange Bitfinex and its sister firm, stablecoin issuer Tether , have been accused again of manipulating the bitcoin markets. 22, says that both companies “monopolized and conspired to monopolize the Bitcoin market.”. When Bitcoin prices were falling, Defendants and their co-conspirators printed USD?s

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CoinRemitter

JANUARY 17, 2024

There are about 9000 cryptocurrencies in the world, and over 150 of them are stablecoins, which acquire 0.08% of the cryptocurrency market. This number clearly shows the potential of stablecoins. Whenever we discuss stablecoins, we all think about USDT. But stablecoins aren’t just about Tether.

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PYMNTS

SEPTEMBER 1, 2020

Working in conjunction with stablecoin payment and foreign exchange platform Stablehouse , the idea was started last year but expedited due to its newfound importance after the pandemic hit. The Bermuda government is working on a plan to roll out a digital stimulus token to help residents and vendors, The Royal Gazette reported.

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PYMNTS

MAY 22, 2020

The OMFIF seeks to create connections between the traditional banking and cryptocurrency spaces. The group, which has been releasing detailed central bank digital currencies (CBDC) and cryptocurrency reports as of 2018, is geared toward CBDCs and retail and wholesale payments. .

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BitPay

APRIL 25, 2023

Stablecoins help bridge the gap between fiat currency and crypto. Businesses can quickly move money without crypto’s usual price volatility, while still conducting secure, low-cost financial transactions without centralized intermediaries like governments or banks. Stablecoins are not mined or minted like other cryptocurrencies.

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PYMNTS

MAY 22, 2020

The OMFIF seeks to create connections between the traditional banking and cryptocurrency spaces. The group, which has been releasing detailed central bank digital currencies (CBDC) and cryptocurrency reports as of 2018, is geared toward CBDCs and retail and wholesale payments. .

Digital Currency 56

Digital Currency Cross-Border Settlement Bitcoin Central Bank 56

The Fintech Times

SEPTEMBER 27, 2024

Stablecoin preferences Interestingly, while Bitcoin has traditionally been seen as the proxy for the crypto ecosystem as a whole, the research from Chainalysis shows that UAE investors actually have a strong preference for stablecoins. In the country, Bitcoin accounts for just 16.5 per cent).

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Transactions Stablecoins Cryptocurrency Bitcoin 59

PYMNTS

JANUARY 15, 2021

Federal Reserve Chair Jerome Powell said he isn’t in a rush to adopt a central bank digital currency (CBDC) because of the risks such currencies pose to the status of the dollar, CoinDesk reported. “We We don’t feel an urge or need to be first,” he said of CBDCs, according to the report. dollar is] the reserve currency.”.

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PYMNTS

JUNE 19, 2020

The Bank of Thailand plans to work on a new payment system for businesses using Central Bank Digital Currency (CBDC), according to a press release , which will be a step toward readying the business sector for the digital age. The release says the step will help CBDC reach wider audiences, beginning with corporate entities.

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PYMNTS

JUNE 10, 2020

Maxwell Opoku-Afari, the bank’s first deputy governor, reportedly said during a digital workshop that the bank remains steadfast in facilitating innovation and piloting ideas like a central bank cryptocurrency. A unit in the central bank’s banking department supervised the area prior to 2016.

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PYMNTS

NOVEMBER 5, 2019

A European Union draft document says the European Central Bank (ECB) should contemplate issuing its own digital currency, Reuters reported on Tuesday (Nov. Until Facebook announced Libra, regulators mostly ignored stablecoins due to their small scale. With the threat of Libra on the horizon, it is time for action now,” he said.

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Digital Currency Stablecoins Central Bank NOV 42

PYMNTS

AUGUST 21, 2018

It’s no secret that blockchain is becoming ever more divorced from bitcoin, with which it has been traditionally associated. Central banks can manipulate interest rates, and can control monetary supply, to an extent. dollar, stated that “centralized authorities are fallible and may not always engender trust.

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PYMNTS

OCTOBER 11, 2019

The founders of lending protocol Nuo have announced the launch of a new digital banking platform called Juno, which will be built on top of ethereum. Juno’s flagship product will allow users to hold the dollar-pegged stablecoin and earn a 5.5 We’ve been very clear on bitcoin: bitcoin is a commodity.

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PYMNTS

NOVEMBER 15, 2019

In other news, the People’s Bank of China (PBoC) has denied a report that the country’s stablecoin is set to launch. Website DECPAPI.com spotlighted an API with a countdown that showed the national stablecoin would launch on November 20. We did not authorize any platform to trade DCEP,” the bank added.

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PYMNTS

JULY 9, 2019

The central bank of India and the government have both practically outlawed cryptocurrencies by disallowing banks to use them. The Reserve Bank of India has restricted use, and the government is in the process of writing a law that has strict penalties on usage. . The issue is about to come up for a hearing on July 23. .

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Cryptocurrency Laws Central Bank Money Laundering 54

Fintech News

JANUARY 9, 2024

Cryptocurrencies Market Resurgence The resurgence in cryptocurrency prices and the anticipated halving of Bitcoin in mid-2024 has reignited interest in the potential of distributed ledger technology to reshape the financial landscape. It remains to be seen how the industry will evolve and address these challenges in 2024.

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PYMNTS

NOVEMBER 2, 2020

Beyond the most immediate challenges, we’re headed into a longer-term evolution where digital payments are paving the way for the adoption of digital currencies, spanning, as Webster noted, crypto, digital bitcoin, digital dollars and stablecoins. Digital currencies, of course, have the potential to impact cross-border transactions.

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PYMNTS

MAY 5, 2019

The New York State Attorney General ( NYAG ) Letitia James wants to see documents regarding an alleged deal made between cryptocurrency exchange Bitfinex and stablecoin operator Tether that “misled their clients and investors.”.

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Cross-Border Cross-Border Payments Digital Currency Bitcoin 54

PYMNTS

JUNE 20, 2019

The Wall Street Journal is reporting that the Federal Reserve and the Senate Banking Committee will both closely scrutinize the implementation of Libra. On Wednesday (June 20), Fed chairman Jerome Powell said that the country’s central bank has “significant input into the payments system,” which is the eCommerce system that Libra will affect.

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PYMNTS

JANUARY 21, 2021

The European Central Bank (ECB) conducted 2021’s inaugural monetary policy meeting and said in a statement that it will stay the course when it comes to processes instituted amid the pandemic to combat its “negative” shock. It was started by Kristo Kaarmann and Taavet Hinrikus.

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Fintech News

OCTOBER 28, 2024

SmashFi (South Korea) SmashFi is a service designed to help individual investors easily accumulate and securely store Bitcoin. Often, new investors purchase Bitcoin through exchanges and leave it there, exposing their assets to risks such as exchange bankruptcy or hacking.

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FinTech Financial Literacy Cross-Border Distributed Ledger Technology (DLT) 117

PYMNTS

SEPTEMBER 19, 2019

The various debates over crypto – security, volatility, their place within, or outside of, the central banking system – are far from settled. And for the settlements, consider these stablecoins as traveling finite territory in the most recently defined uses cases – as in, intrabank. Wells Fargo said Wednesday (Sept.

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