“Yet digital’s gain isn’t necessarily coming at the expense of cash. The overall pie still appears to be growing. Only two countries, Russia and Sweden, had a net substitution of cards for cash from 2007 to 2016, with cash in circulation shrinking as card payments grew, according to the Bank for International Settlements. In other […]
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nbsp;Cryptocurrency XRP Tumbles 24% After U.S. SEC Charges Ripple
“Cryptocurrency XRP XRP=BTSP tumbled 24% on Wednesday after the U.S. Securities and Exchange Commission (SEC) charged associated blockchain firm Ripple with conducting a $1.3 billion unregistered securities offering. XRP, the third-biggest cryptocurrency by market value, dropped to as low as $0.33, its weakest in a month, after the announcement from the SEC, which also saw […]
Coinbase Lists Controversial Cryptocurrency XRP, Price Jumps 10%
“Coinbase plans to add XRP, one of the world’s most controversial cryptocurrencies, to the list of virtual coins traded on its exchange, the company said Monday. XRP is a digital asset tied to a blockchain ledger that’s used for cross-border payments. The virtual coin has provoked controversy for its tangled history with Ripple, a startup that owns the vast […]
What the world’s central banks are saying about cryptocurrencies
“The guardians of the global economy have two sets of issues to address. First is what to do, if anything, about the growth of the private cryptocurrencies that are grabbing more and more attention for a host of reasons: security concerns after a $500 million exchange hack in Japan, volatile price moves and—in the case […]
Russia and Venezuela’s Plan to Sidestep Sanctions: Virtual Currencies
“Russian and Venezuelan officials are hoping virtual currencies can help their countries make an end run around American sanctions. Both governments, with ambitions to create state-sponsored cryptocurrencies, are looking to take advantage of the promise that Bitcoin introduced to the world financial system: a new kind of money and financial infrastructure, outside the control of […]
Fed’s Quarles says digital currencies pose financial stability risks
“In a speech, Quarles also said central banks should be cautious in issuing their own digital currencies, and that the matter requires extensive review. He said he was “particularly concerned” potential central bank digital currencies could face issues related to money laundering, terrorism financing, and cyber attacks.”