PYMNTS

JUNE 5, 2017

Russia is getting more into digital currency with the central bank in the country launching tests of several digital currency schemes. “Regulators of all countries agree that it’s essential to develop a national digital currency, that it is the future,” Skorobogatova said.

Digital Currency 40

Digital Currency Central Bank Financial Literacy Online and Mobile Banking 40

PYMNTS

JULY 10, 2020

Stablecoins, the virtual currencies which seek price stability, could be the next target for money laundering and terrorist financing, a report found. The FATF said it will review the implementation and impact of its standards by next summer and provide further guidance on stablecoins and virtual assets.

Money Laundering 56

Money Laundering Stablecoins Cryptocurrency Digital Currency 56

Clearly Payments

AUGUST 29, 2024

Central Bank Digital Currencies (CBDCs) have received attention in recent years as central banks worldwide explore the potential to evolve the way we conduct financial transactions. CBDCs in Other Countries China : The Digital Yuan (e-CNY) is one of the most advanced CBDC projects. What Are CBDCs?

Central Bank 105

Central Bank Digital Currency CBDC Cross-Border Payments 105

PYMNTS

JUNE 10, 2020

The Bank of Ghana continues to consider the creation of a digital currency, GhanaWeb reported. Dr. 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.

Digital Currency 53

Digital Currency Accounts Money Laundering Central Bank 53

PYMNTS

OCTOBER 3, 2019

While Philadelphia Federal Reserve Bank President Patrick Harker believes it’s “inevitable” that central banks will eventually issue digital currencies, he warned that the United States shouldn’t be first in line. I do think it is something around digital currency,” he said. What comes next?

Digital Currency 55

Digital Currency Fed Federal Reserve Central Bank 55

Payments Source

JULY 14, 2017

India is considering tracking digital currencies like bitcoin through the central bank and capital markets regulator along with intelligence agencies to monitor money laundering and terrorist financing, people with the knowledge of the matter said.

Digital Currency 60

Digital Currency Money Laundering Crime Central Bank 60

PYMNTS

NOVEMBER 12, 2020

Christine Lagarde , European Central Bank (ECB) president, said the ECB could make its own digital currency within a few years, which could change up the eurozone financial sector drastically, Bloomberg reported. China, meanwhile, is also advancing plans for a central bank digital currency (CBDC), Bloomberg reported.

Digital Currency 121

Digital Currency Central Bank Federal Reserve Money Laundering 121

PYMNTS

DECEMBER 12, 2019

The head of the European Central Bank (ECB), Christine Lagarde, said she wants a task force to identify clear objectives regarding the ECB’s proposed digital currency initiative by the middle of next year, according to a report by Reuters. Lagarde also said the ECB should be “ahead of the curve” on the issue.

Digital Currency 52

Digital Currency Money Laundering Central Bank Cryptocurrency 52

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.

Central Bank 59

Central Bank Money Laundering Stablecoins Digital Currency 59

PYMNTS

NOVEMBER 12, 2019

China is planning to launch a digital currency in early 2020 that will make allowances for privacy, a senior central bank official said on Tuesday (Nov. The country is laying the groundwork to be the first nation to launch a digital currency and will balance privacy concerns with government oversight, Reuters reported.

Digital Currency 40

Digital Currency Privacy Central Bank NOV 40

PYMNTS

OCTOBER 27, 2019

A research team was established in 2014 by China’s central bank to explore launching a digital currency and increase China’s control of the money supply, Reuters reported on Saturday (Oct. David Marcus , the executive in charge of Facebook’s proposed digital currency, said if Libra fails, the U.S.

Digital Currency 43

Digital Currency Laws Cybersecurity Money Laundering 43

PYMNTS

DECEMBER 4, 2019

For China: Digital currency, yes. Whether you believe in bitcoin’s potential (or lack thereof) to become a viable conduit of commerce , the crypto’s pricing acts as shorthand for the near-term outlook for digital coins in general, and especially for those traded over exchanges. But not bitcoin. Blockchain? But not bitcoin.

Digital Currency 55

Digital Currency Bitcoin Money Laundering Cryptocurrency 55

PYMNTS

FEBRUARY 28, 2020

The Deputy Governor of the Bank of England (BoE), Jon Cunliffe, said on Friday (Feb. 28) that digital currencies could potentially dry up lending for banks and affect the economy as a whole, according to a report by Reuters.

Digital Currency 95

Digital Currency Stablecoins Central Bank Money Laundering 95

PYMNTS

MARCH 16, 2020

Intercontinental Exchange, the parent firm of Bakkt, had first made it known in the summer of 2018 that Starbucks was eyeing the retail use of digital currency payments. The Bank of Russia, however, reportedly supports the idea of digital financial assets and had gone so far as having an experimental tokenization project.

Bitcoin 97

Bitcoin Digital Currency Central Bank Money Laundering 97

Payments Source

MAY 6, 2021

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Digital Currency 119

Digital Currency Central Bank Money Laundering Risk 119

Fintech News

JANUARY 30, 2024

Other payment trends in Asia preceding 2024 including the rise of B2B buy now pay later (BNPL), growing prominence of central bank digital currency (CBDC), and prevalence of composable, cloud-based ‘as-a-Service’ IT architecture models have helped shape much of what we anticipate for 2024.

Payments Trends 99

Payments Trends Digital Currency Cross-Border Payments Instant Payments 99

PYMNTS

OCTOBER 12, 2020

Facebook's proposed global digital currency Libra is expected to get pushback from G7 leaders who are anticipated to publicly oppose the project due to a lack of regulations, according to a Reuters report on Monday (Oct. 13) during a meeting of finance ministers and central bankers from the U.S.,

Regulations 80

Regulations Digital Currency Stablecoins Money Laundering 80

Neopay

MAY 28, 2024

The discussion focused around 6 main areas, namely: (i) regulatory and market developments and financial stability outlook, (ii) banking and anti-money laundering (AML), (iii) sustainable finance (iv) capital markets (v) asset management, and (vi) digital finance and artificial intelligence (AI).

Distributed Ledger Technology (DLT) 52

Distributed Ledger Technology (DLT) Money Laundering AML AI 52

PYMNTS

DECEMBER 26, 2019

The Bank of Russia has been testing stablecoins that are attached to real assets, according to reports. The head of the bank, which is Russia’s central bank, said just because they’re testing the coins doesn’t mean they will eventually turn into a money substitute. “We Meanwhile, on Jan.

Stablecoins 52

Stablecoins Central Bank Rules Bitcoin 52

PYMNTS

DECEMBER 22, 2020

At the same time, however, SMBs remain especially vulnerable to supply chain disruptions and risks like fraud and money laundering. Hale pointed to central bank digital currencies as a particularly promising technology.

Cross-Border 106

Cross-Border Central Bank Digital Currency Due Diligence 106

PYMNTS

MARCH 19, 2018

Mastercard ’s Co-President of Asia-Pacific Ari Sarker said the payment company would happily look into facilitating the use of digital currencies that are issued by central banks around the world. However, the executive said stringent Know Your Customer and anti-money laundering controls have been put in place.

Central Bank 41

Central Bank Visa Digital Currency Cryptocurrency 41

Fintech News

JULY 3, 2024

In the heart of Southeast Asia, a small island nation is making giant strides in digital currencies. percent of its population owning digital assets, the city-state isn’t just participating in the crypto revolution—it’s leading it.

Financial Literacy 85

Financial Literacy Cryptocurrency Digital Currency Accreditation 85

PYMNTS

JANUARY 2, 2020

A European Central Bank (ECB) policy maker is urging banks in the area to find alternatives to Facebook’s proposed cryptocurrency Libra, according to a report by Bloomberg. Jens Weidmann said banks should come up with their own cheaper and quicker systems to move money around, to create different options than Facebook’s Libra.

Federal Reserve 52

Federal Reserve Central Bank Digital Currency Cryptocurrency 52

PYMNTS

OCTOBER 23, 2020

With a nod toward digital currencies , Sheard noted that central banks “are looking at this out of the corner of their eye” – which they need to do, as they manage the very foundational pieces of the payments system.

Posting 83

Posting Central Bank Digital Currency Economy 83

PYMNTS

JUNE 29, 2020

In January, the United Kingdom’s Financial Conduct Authority (FCA), the country’s banking regulator, took the reins to oversee cryptocurrency, anti-money laundering and counter terrorist financing activities.

Stablecoins 88

Stablecoins Cryptocurrency Central Bank Money Laundering 88

PYMNTS

OCTOBER 18, 2019

The Bank of Canada is thinking about launching its own digital currency. Earlier this year, the Canadian government decided to ease up on some of its new anti-money laundering regulations, due to feedback from payment service providers and crypto exchanges.

CBDC 40

CBDC Digital Currency Central Bank Money Laundering 40

PYMNTS

JUNE 20, 2019

government will respond to the introduction of new digital currencies. The Wall Street Journal is reporting that the Federal Reserve and the Senate Banking Committee will both closely scrutinize the implementation of Libra. News of the launch of Facebook cryptocurrency Libra has highlighted how the U.S. Cowen & Co.

Regulations 67

Regulations Money Laundering Federal Reserve Digital Currency 67

PYMNTS

FEBRUARY 25, 2020

Blockchain circles have been enamored with central bank digital currencies (CBDCs), but the feeling doesn’t seem to be mutual as banks aren’t as interested in that form. At the conference, ideas about digital currencies were discussed, according to Coindesk.

Rules 52

Rules CBDC Money Laundering Digital Currency 52

PYMNTS

APRIL 16, 2020

With a revised version of the planned digital currency, Facebook ‘s Libra will be supervised by worldwide watchdogs and connected to individual country currencies. Libra will now provide stablecoins based on a roster of separate currencies to be determined. The potential of the 2.5

Multi-Currency 64

Multi-Currency Stablecoins Money Laundering Central Bank 64

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.

Stablecoins 65

Stablecoins Debit Card Regulations Blockchain 65

PYMNTS

JULY 15, 2019

“The Libra Association, which will manage the (Libra) Reserve, has no intention of competing with any sovereign currencies or entering the monetary policy arena,” Marcus said in a prepared testimony posted by the Senate Banking Committee. Monetary policy is properly the province of central banks.”.

Money Laundering 46

Money Laundering Regulations Fincen Cryptocurrency 46

PYMNTS

NOVEMBER 30, 2020

When PayPal announced recently that its 350 million users can deposit bitcoin and other cryptocurrencies in their accounts and spend it at 26 million merchants next year, it was characterized as the inevitable advance of digital currency. Governments and central banks will be the final hurdle. “I Privacy And Security.

Bitcoin 117

Bitcoin Cryptocurrency PayPal Privacy 117

PYMNTS

APRIL 14, 2019

This is forcing central banks, regulators and financial institutions to recognize a growing knowledge gap between the legislators, policymakers, economists and the technology. This project begins to bridge that gap and form a strong knowledge base of the technology among IMF and World Bank staff,” said a statement from the IMF.

Cryptocurrency 78

Cryptocurrency Blockchain Money Laundering Digital Currency 78

PYMNTS

NOVEMBER 12, 2018

In an effort to protect its residents from crypto scams, the Central Bank of the Bahamas (CBOB) has released a regulatory framework before it integrates cryptocurrency-based assets into its services. Over the past two years, exit scammers have stolen more than $100 million worth of cryptocurrency.

Scams 71

Scams Money Laundering Digital Currency Cryptocurrency 71

PYMNTS

NOVEMBER 2, 2020

31, focuses on anti-money laundering (AML) practices and countering financing terrorism (CFT). The Cayman Islands’ Ministry of Financial Services introduced the nation’s regulatory framework for virtual asset service providers (VASPs) on Saturday (Oct. 31), according to a press release.

CBDC 64

CBDC Distributed Ledger Technology (DLT) Visa AML 64

PYMNTS

DECEMBER 18, 2019

A member of the Board of Governors of the Federal Reserve System, Brainard spoke at the European Central Bank (ECB) colloquium in Frankfurt on “ Monetary policy: the challenges ahead.” In October, Brainard said a stablecoin like Libra could make central banks’ efforts to conduct monetary policy “complicated.” .

Risk 52

Risk Federal Reserve Stablecoins Central Bank 52

PYMNTS

JUNE 30, 2020

Microsoft reported that digital currency mining encounters dropped 40 percent from 2018 to 2019, according to a report. The tech company noted in the report that only 50 endpoints for each 100,000 came across a digital currency miner.

Authorization 80

Authorization Digital Currency Central Bank Bitcoin 80