Retail Adoption of Crypto Would “Bring the Internet to a Halt” – BIS Report

The Bank of International Settlements (BIS) has leased a chapter from its forthcoming annual report that delivers a critical appraisal of bitcoin and cryptocurrency. The report attacks virtual currencies from several main standpoints: claiming that cryptocurrencies do not effectively perform… Continue Reading

U.S. Executive Branch Employees to Disclose Crypto Holdings, French ICO Regulations Coming

In recent regulatory news, the United States Office of Government Ethics has issued a document advising employees of the U.S. executive branch to disclose their cryptocurrency holdings. In other news, Bank of Korea has rejected the notion of central bank-issued… Continue Reading

BIS GM Argues New Cryptos Are “the Alchemy of the Age of Innovation”

The Bank of International Settlements (BIS), a transnational institution owned by and comprised of central banks that seeks to “fosters international monetary and financial cooperation and serves as a bank for central banks,” recently published its quarterly review of “International… Continue Reading

CBDC Could Have “Severely Negative Consequences” for “Bank-Dominated Payments System” – Former FDIC Chair

The former chair of the United States Federal Deposit Insurance Corporation, Sheila Bair, recently published an article imploring the U.S. Federal Reserve to explore central bank-issued digital currencies (CBDCs). In the article, Mrs. Bair argues that the development of a… Continue Reading

Coinbase Unveils Plans to Enter the Japanese Market

One of the largest US cryptocurrency companies, Coinbase, has unveiled its plans to enter the Japanese market in order “to accelerate the global adoption of cryptocurrency.” The company has been in talks with the country’s financial regulator to ensure compliance.… Continue Reading

Central Bank-Issued Cryptocurrency Round Up: IMF, BoE, Hong Kong

In recent days, central banks from the around the world have been actively exploring the prospect of issuing digital currencies. The Bank of England (BOE) has continued to press forward with research into models for central bank-issued currencies, with BOE… Continue Reading

Zimbabwe Exchange Granted “Interim Relief,” Ban Appeal Still Ongoing

Despite reports of the Zimbabwe High Court’s reversal of the Reserve Bank of Zimbabwe’s (RBZ) recently issued cryptocurrency ban, the country’s leading bitcoin exchange, Golix, is yet to restore trading on its platform. In an email recently sent to customers… Continue Reading

Norway and England Contemplate Central Bank-Issued Cryptocurrencies

The central banks of Norway and England have published reports exploring different models for central bank-issued cryptocurrencies. By contrast, Federal Reserve governor, Lael Brainard, recently expressed her opposition to central bank cryptocurrencies – claiming that such would result in broad… Continue Reading

Bank in Argentina Launches BTC Settlement Services

A small bank from Argentina, Banco Masventas, announced this week that it’s allowing customers to make settlements using BTC as a payment rail. Argentina Banco Masventas says the firm partnered with the exchange Bitex, and believes the service will reduce… Continue Reading

Chilean President Considering Regulation of Cryptocurrencies

The Chilean president, Mario Marcel, has made comment seemingly in favor of developing a regulatory apparatus for virtual currencies. The apparent openness to regulating cryptocurrencies contrasts significantly from the recent banking embargo targeting virtual currency recently witnessed in Chile. Also… Continue Reading