Tag: Central Bank
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Limitations on Purchasing Dollar and Euro Cash are Relaxed by the Russian Central Bank
Some restrictions on Russian banks selling dollars and euros to the general public have been loosened by the Central Bank of Russia. Since currency restrictions have been a major factor in driving up demand for digital coins, the country’s crypto market may be impacted by the increased foreign cash supply. According to the Interfax news…
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Industry claims that Ukraine’s new fiat restrictions will increase the popularity of cryptocurrencies.
The fixed rate of the national currency in U.S. dollars has been modified by the central bank of Ukraine, and stricter restrictions on hryvnia transactions for citizens have been put in place. According to a representative of the local cryptocurrency industry, the measures are probably going to encourage more Ukrainians to use cryptocurrencies. New regulations…
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Bank of Russia is prepared to legalize cryptocurrency mining if miners export coin production
The legalization of cryptocurrency mining would be supported by the Central Bank of Russia, provided that the earnings from the activity are converted to fiat currency outside of Russia. The regulator’s most recent stance on the subject follows a softening of its position on the potential use of cryptocurrencies for payments, even if only globally.…
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Andrew Bailey of the Bank of England warns that bitcoin has no intrinsic value and is not a practical means of payment.
The governor of the Bank of England, the British central bank, claims that bitcoin has no intrinsic value and that it is unsuitable for use as a payment method. After the crypto market crashed, he issued a warning. On Monday’s Jobs of the Future podcast, Bank of England Governor Andrew Bailey issued a warning about…
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In sanctioned Russia, the idea of using the digital ruble as a reserve currency has circulated.
The State Duma, Russia’s lower house of parliament, has proposed making the digital ruble a reserve currency. Meanwhile, fears have been expressed in the West that the new incarnation of the Russian fiat could be used to circumvent the country’s isolation due to sanctions. In the face of mounting Western penalties, officials in Moscow have…
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TokoBitcoin, BitBayar Shut Down Operations After Bank of Indonesia’s Bitcoin Ban
Indonesia-based Bitcoin payment platforms TokoBitcoin and BitBayar have reportedly shut down their operations following the announcement by the country’s central bank, Bank of Indonesia, that it will not accept Bitcoin as a form of payment. The operation of Bitcoin exchanges in the country, however, was not affected by the pronouncement. BitBayar, which is the Indonesian counterpart of Bitpay, has…
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Nigerian Central Bank Director: Cryptocurrency Wave ‘Cannot Be Stopped’
The Central Bank of Nigeria is said to be taking a closer look at blockchains and cryptocurrencies. According to a report in The Guardian this week, Musa Jimoh, a deputy director at the country’s central bank, recently spoke at a cryptocurrency-focused conference in Lagos, Nigeria’s largest city. There, Jimoh indicated that the Central Bank of Nigeria…
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Uruguay’s Central Bank Announces New Digital Currency Pilot
Uruguay is the latest country to see its central bank start experimenting with its own digital currency, according to statements. The Banco Central del Uruguay (BDC) announced Wednesday that a limited number of users would help testing a mobile-based app for the transfer of funds. Speaking at an event called “The Future of Money and the Financial…