The Bank for International Settlements (BIS) has published a report touting the benefits of central bank digital currencies (CBDC), especially in reducing the cost of cross-border payments.
The Canadian Securities Administrators, or CSA, and Investment Industry Regulatory Organization of Canada, or IIROC, have issued guidelines for crypto trading platforms operating in the country to avoid “advertising and marketing materials that could mislead investors.”
Turkey is eager to become a blockchain hub as a country with one leg in Europe and another in Asia. However, the same passion doesn’t apply to cryptocurrencies, as Turkish President Recep Tayyib Erdoğan reiterated recently.
Though the Financial Sector Conduct Authority (FSCA) is an agency of the South African government, Binance claimed the country’s Financial Intelligence Centre was the “major regulator” with which it had been working to be in compliance with local laws.
The initiative, dubbed Project Dunbar, will prototype shared platforms enabling direct transfers between institutions using digital currencies issued by multiple central banks. The pilot’s findings will be used to inform the “development of global and regional platforms” in addition to supporting the G20’s roadmap for improving cross-border payments.
The Monetary Authority of Singapore (MAS) has shortlisted 15 “Global CBDC Challenge” participants to help build an in-house retail central bank digital currency (CBDC).
The Central Bank of Nigeria (CBN) said Monday it will work with Bitt Inc., a blockchain and payments startup, to launch the African nation’s eNaira digital currency later this year.
There are multiple aspects of blockchain — from business to technical and more — but with the way the industry is exploding, it’s really hard to get it right.
The project, under development by the BOJ’s CBDC Team, has entered a pilot phase which will see a total of J$230 million in CBDC minted and deposited with deposit-taking institutions and authorised payment service providers before December 2021.
G+D is providing the technology and developing the solution adapted to Ghana’s requirements, which will be tested in a trial phase with banks, payment service providers, merchants, consumers, and other relevant stakeholders.
