Category: Central Banks

Bitcoin (BTC) At 2019 Highs, Is It Because of The FED’s Dovish Stance?

Bitcoin (BTC) prints double-digit gainsCentral banks could slash interest rates to avert a global recession, boosting risk assets in the short term & safe havens in the long term Perhaps in anticipation of an economic slowdown and central banks intervening by cutting rates, data suggests fund managers are shifting capital to […]

Why Facebook’s Libra Has all the Makings of a Private Central Bank

A columnist for The Wall Street Journal (WSJ) recently spoke about the upcoming Facebook cryptocurrency, Libra. According to the article, the columnist opines that the proposed stablecoin isn’t as promising as projected and added that Libra gives Facebook the “license to print money.” Libra Will Become a Private Central Bank Recently, […]

Russia’s Central Bank Is Considering Launching a Digital Currency

The head of Russia’s central bank has said the institution could one day launch its own digital currency. Chairwoman Elvira Nabiullina told a student conference that, while such a project “cannot be realized immediately,” various central banks, including Bank of Russia, are investigating the possibility, TASS reported Saturday. Key to […]

14 Banks, 5 Tokens: Fnality’s Expansive Vision for Interbank Blockchains

The Takeaway: With $63.2 million in fresh funding from 14 banks, Fnality is building tokenized versions of five major fiat currencies. The digitized fiat would be fully collateralized by cash held at central banks and is meant to solve the “cash on ledger” problem faced by other financial blockchain projects. The […]

Bitcoin Analyst: Beware of Facebook’s ‘Crypto’, Big Trouble for Major Banks, Authoritarian Regimes and the Financial Services Industry

In a Bitcoin Q&A on Facebook’s GlobalCoin, computer scientist and Bitcoin advocate Andreas Antonopoulos maps out how Facebook’s upcoming stablecoin, which will be used to send money across borders, will disrupt banking, and why it is not a true cryptocurrency. He argues that there are “five pillars” that define a […]

Philippines Central Bank Warns on Risks of Growing Cryptocurrency Use

The chief of the Philippines central bank has warned over the risks of growing cryptocurrency use in the country. On Monday, The Philippine Star quoted Benjamin Diokno, governor of the Bangko Sentral ng Pilipinas, as saying his institution would continue to address the use of cryptocurrencies, especially given the tech’s potential […]

Russian Central Bank to Consider Gold-Backed Cryptocurrency

Russia’s central bank will consider the use of a gold-backed cryptocurrency to facilitate international settlements, according to a Tass report. Elvira Nabiullina, governor of the Bank of Russia, said Thursday that her institution is to review a proposal for the development of the cryptocurrency. Nabiullina said at the nation’s lower house, […]