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Systems

Facebook’s Libra Is Spurring Central Banks’ Interest in Issuing Cryptocurrency

“The Bank for International Settlements (BIS) in Basel, Switzerland is the bank for global central bankers. It’s the stodgiest of stodgy institutions, in other words, and it’s been slow-moving when it comes to cryptocurrency. Now it appears to be picking up the pace, however, spurred by Facebook’s announcement this month that it plans to issue […]
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Systems

Bundesbank Sees Dangers in Digital Central Bank Money

“Central banks must exercise caution in introducing digital currencies that could potentially destabilize the financial system during times of crisis, Bundesbank President Jens Weidmann said on Wednesday. Central banks around the globe are examining the benefits of digital money, spearheaded by the Swedish Riksbank with its e-krona pilot scheme, a potential response to the rapid […]
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Global

Alibaba, Tencent, Five Others To Receive First Chinese Government Cryptocurrency

“China’s central bank will launch a state-backed cryptocurrency and issue it to seven institutions in the coming months, according to a former employee of one of the institutions who is now an independent researcher. Paul Schulte, who worked as global head of financial strategy for China Construction Bank until 2012, says the largest bank in […]
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Systems

China Delays Launch of Digital Currency

“China has ‘no timetable’ for the launch of its digital currency, the governor of the country’s central bank has revealed. The People’s Bank of China (PBOC) released in-depth information earlier this month on how its DC/EP digital currency would work and there has been speculation that it would go live as soon as 11 November […]
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Systems

Facebook’s Libra Cryptocurrency ‘Will Be Blocked in Europe’

“France has said it will block the development of Facebook ‘s Libra cryptocurrency as it poses a threat to “monetary sovereignty”. At the opening of an OECD conference on cryptocurrencies, French Economy and Finance Minister Bruno Le Maire said: “I want to be absolutely clear: In these conditions, we cannot authorise the development of Libra […]
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