Brazil’s central bank flags Stablecoins as growing threat to capital flow stability

Brazil’s central bank has raised concerns about the rapid rise in the use of US dollar-backed stablecoins for cross-border money transfers, warning that the development undermines capital controls and increases capital flow volatility.

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Swiss Central Bank rejects Bitcoin for reserves, citing volatility: report

Swiss National Bank Governor Martin Schlegel reaffirmed the central bank’s position against incorporating Bitcoin or other digital assets into its foreign exchange reserves.  Schlegel expressed concerns to Bloomberg regarding Bitcoin’s (BTC) high volatility, instability, and the regulatory challenges associated with…

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Czech central bank official skeptical on Bitcoin reserves amid legal, volatility concerns

Bitcoin in the Czech central bank’s reserves is uncertain after a senior official flags legal and volatility concerns. A debate over Bitcoin’s (BTC) place in Czech central bank reserves still lingers with board member Jan Kubicek voicing skepticism citing legal…

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Bitcoin Reserve? South Korea joins Japan, Switzerland in...

The Bank of Korea rejects Bitcoin reserves, citing high volatility and transaction cost concerns. Global sentiment on Bitcoin reserves remains divided, with major economies exercising caution.

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Senate Banking Chair moves to end debanking of crypto, ‘risky’ industries

Senate Banking Committee Chair Tim Scott has introduced a bill aimed at preventing federal regulators from using reputational risk as a factor in bank supervision. The move comes in response to concerns from the crypto industry, which has accused government agencies of cutting them off from the financial system.

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Swiss Central Bank President Rejects Bitcoin as a Reserve Currency, Cites Volatility and Liquidity Concerns

Swiss National Bank (SNB) President, Martin Schlegel, rejected Bitcoin as a nation’s currency, claiming that the asset is too volatile. Schlegel, president of SNB since October 2024, prefers assets like gold or bonds because they can bring stability to a volatile market.

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50% of Global Assets Now Held by Non-Banks, Warns BoE Chief

Speaking at The University of Chicago Booth School of Business in London, Andrew Bailey, the Bank of England’s Governor, raised concerns over the influence of non-bank financial (NBFIs) institutions in global markets.

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European Central Bank eyes digital Euro to counter Trump’s stablecoin push

In response to U. S. President Donald Trump’s recent executive order promoting dollar-backed stablecoins, the European Central Bank is emphasizing the need for a digital euro to maintain the competitiveness of eurozone banks.

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Botswana central bank flags 'minimal’ risks from crypto but urges regulation

Botswana’s central bank acknowledges minimal crypto risks but highlights money laundering and regulatory concerns as key priorities.

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75% of Crypto Hedge Funds Face Banking Access Challenges, New Report Finds

Industry leaders are raising concerns about a potential systematic exclusion of cryptocurrency entities from banking services, evidenced by widespread account closures and ambiguous bank communications.

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Bank of England cuts interest rates to 4.75% as UK inflation falls below target

The BoE's rate cut may stimulate economic growth but cautious future easing is likely due to fiscal policy impacts and inflation concerns. The post Bank of England cuts interest rates to 4.

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BIS urges caution as finance industry embraces asset tokenization

The Bank for International Settlements (BIS) has issued a cautionary report as traditional financial institutions accelerate their exploration of tokenization, raising concerns over governance, legal frameworks, and financial stability.

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AI risks financial stability, warns Indian central bank governor

India’s central bank governor has warned of financial risks linked to AI dominance in finance, echoing concerns from global financial authorities.

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South Korea’s largest crypto exchange Upbit to be probed by the FSC

South Korea’s Financial Services Commission plans to investigate Upbit over concerns about its market dominance and its close ties with K Bank. A local media report cited FSC chairman Kim Byoung-hwan, stating that the country’s top financial regulator will thoroughly…

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Bank of Japan maintains interest rates at 0.25% after core inflation firm to 2.8%

BoJ's rate hold amid inflation concerns highlights cautious economic strategy, contrasting with US Fed's aggressive rate cuts boosting markets. The post Bank of Japan maintains interest rates at 0.

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Japan's crypto market on edge: BOJ rate hike fears spark concerns

Bank of Japan's rate hikes could trigger new cryptocurrency market turmoil. Japan's crypto market share declines as the Prime Minister's departure looms. Recent volatility in the global econThe post Japan's crypto market on edge: BOJ rate hike fears spark concerns appeared first on AMBCrypto.

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Fed orders United Texas Bank to halt crypto services over AML concerns

The Federal Reserve issued a cease and desist order to United Texas Bank (UTB) on Aug. 29, directing it to stop offering crypto services. The order follows an examination concluded by the Federal Reserve Bank of Dallas and the Texas Department of Banking in May 2023, which identified alleged deficiencies in the bank’s corporate governance, […] The post Fed orders United Texas Bank to halt crypto services over AML concerns appeared first on CryptoSlate.

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Azerbaijan’s central bank holds back on CBDC over monetary policy concerns

Azerbaijan is taking a cautious approach to the development of a central bank digital currency, citing concerns over monetary policy and financial stability. The Central Bank of Azerbaijan hasn’t made plans to issue a central bank digital currency at this…

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WEF raises concerns over quantum computing risks to CBDCs, cryptographic encryption

The World Economic Forum (WEF) has issued a stark warning about the vulnerabilities in central bank digital currencies (CBDCs), urging the implementation of quantum-resistant strategies to safeguard these digital currencies from emerging cybersecurity threats.

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Pakistan mulls CBDC for women amid concerns of financial abuse

Pakistan’s finance minister says the country is mulling a central bank digital currency to empower women and tackle financial abuse. Pakistan is weighing in on launching a central bank digital currency (CBDC) to modernize financial transactions and provide greater accessibility…

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U.S. Senator expresses CBDC concerns, supports Bitcoin

U.S. Senator Marsha Blackburn highlighted the personal privacy and government surveillance risks of Central Bank Digital Currencies and Bitcoin.

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Ted Cruz spearheading anti-CBDC bill over financial privacy, government overreach concerns

A group of Senate Republicans, led by Senator Ted Cruz of Texas, is taking legislative steps to restrict the Fed’s capacity to introduce a central bank digital currency (CBDC), spotlighting the issue as a potential focal point in the 2024 presidential campaign discussions.

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XRP Army Bank On A Massive Bull Run As Pro-Ripple Lawyer Calls XRP’s Poor Price Performance ‘Unnatural’

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UK lawmakers wary of launching retail CBDC due to privacy, financial stability concerns

The U. K. Parliamentary Treasury Committee issued a stern warning about the development of a retail central bank digital currency (CBDC), or ‘digital pound,’ and its potential hazards to financial stability.

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Central Banks Have No Interest in Personal Data, BIS Official Says While Promoting CBDCs

The Bank for International Settlements has been calling on countries to prepare for CBDCs as governments face backlash over privacy concerns.

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Crypto Misfortune: European Central Bank Chief’s Son Hit By 60% Investment Loss

According to a Reuters report, European Central Bank (ECB) President Christine Lagarde revealed that her son experienced substantial losses in his crypto investments, disregarding numerous warnings.  Lagarde, a vocal critic of cryptocurrencies, has expressed concerns about their speculative nature, lack of intrinsic value, and potential misuse by criminals for illicit activities.  ECB Chief Urges Need […]

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Binance Processes Nearly $1B in Net Outflows as Changpeng ‘CZ’ Zhao Resigns

Data shows the exchange sits on over $67 billion worth of tokens, easing concerns of a possible bank run.

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UK jobs surprise with lower unemployment and higher wages, stoking inflation concerns ahead of key report

Quick Take Recent UK jobs data released this morning indicated unexpected heat—unwanted by the Bank of England (BOE). According to Trading Economics, the unemployment rate defied consensus, arriving at 4.

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BIS researchers believe that stablecoins will not live up to hype

A recent report by the Bank for International Settlements raises concerns about stablecoins' ability to maintain parity with their pegged assets, challenging their stability and reliability as a digital currency.

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Consultation on digital pound attracts more than 50,000 responses, privacy is key concern

The Bank of England’s consultation on the digital pound has sparked widespread public debate, underscoring critical concerns about privacy, cash usage, and the currency’s future trajectory.

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Digital Pound Consultation Received Over 50,000 Responses, With Privacy a Major Concern

Many of the respondents outlined concerns around privacy, programmability and the decline of cash, Jon Cunliffe, deputy governor of the Bank of England said.

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Fiat24 proposes Uniswap branded Visa card 

Swiss-regulated blockchain bank Fiat24 issued a temperature check on the Uniswap DAO to approve a branded Visa card, though governance delegates have trademark concerns. 

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ECB Launches ‘Preparation Phase’ For the Digital Euro Amid Privacy Concerns

The European Central Bank (ECB) has announced the progression of its digital Euro initiative to the so-called “preparation phase”, marking a significant step towards realizing a Central Bank Digital Currency (CBDC).

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Fed Governor Michelle Bowman expresses central bank’s skepticism of CBDCs

As the U. S. heads into the next election year, crypto concerns have begun to seep into mainstream American politics—specifically, the terrifying prospect of a United States central bank digital currency (CBDC) U.

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Joe Rogan and Post Malone criticize US CBDC

The entertainment industry is diving into the Central Bank Digital Currencies (CBDCs) debate, with Joe Rogan and rapper Post Malone expressing their concerns. On the “Joe Rogan Experience” podcast, which boasts over 11 million listeners per episode, the two discussed…

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Israeli Bank Refuses to Accept Retiree’s Bitcoin Gains

Israeli citizen Esther Freeman has settled a two-year legal dispute with Hapoalim Bank, which had refused to accept deposits from her Bitcoin profits due to regulatory concerns. The specific terms of the settlement are undisclosed.

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Brazil to launch CBDC ‘DREX’ in 2024 said to improve financial accessibility amid centralization concerns

The Central Bank of Brazil has unveiled its upcoming digital currency, ‘DREX. ’ As reported in a live video from the Central Bank, DREX will be a digital representation of the Brazilian real, with the capacity to interact with other digital assets.

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US сongressman proposes to ban CBDC

US congressman Warren Davidson has voiced his concerns on central bank digital currencies (CBDCs), claiming they should be banned and criminalized. In a tweet on July 23, the congressman described the Federal Reserve’s efforts as “building the financial equivalent of…

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National Australia Bank blocks millions in crypto transactions citing scam concerns

National Australia Bank (NAB) blocked over A$270 million (around $184 million) in customer payments that raised scam concerns during the last four months, according to a July 17 statement. NAB blocking payments to ‘high-risk’ cryptocurrency exchanges NAB stated it stopped an undisclosed amount of transactions to crypto platforms where scams were prevalent between March and […] The post National Australia Bank blocks millions in crypto transactions citing scam concerns appeared first on CryptoSlate.

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Backlash Grows as UK’s Digital Pound Sparks Public Outcry

UK’s Hesitation with Central Bank Digital Currency Sparks Concerns Amid Global Decline in Physical Currency Usage The government of the United Kingdom, known for its civil and democratic society, has sought public consultation before moving forward with the development of a digital version of the British pound.

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Trezor study shows nearly 75% of participants have concerns over digital pound

In a recent survey conducted by Trezor, nearly 75% of respondents expressed concerns over the potential control the U. K. government could have over access to funds via its proposed Central Bank Digital Currency (CBDC).

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Bitcoin Seesaws Back Under $26K After CPI, as Investors Await Fed Rate Hike Decision

The U.S. central bank now seems increasingly likely to suspend its more than year-long campaign of interest rate hikes. An analyst flags recessionary concerns in a note to CoinDesk

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Starling Bank CEO to Step Down on June 30th after 10 Years in Charge

Coinspeaker Starling Bank CEO to Step Down on June 30th after 10 Years in Charge Starling CEO Anne Boden agrees to step down from the role at the British neobank next month over 'conflict of interest' concerns.

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Canada And Australia Continue Consultation And Research Into CBDCs

According to a May 8, 2023 press release, the Bank of Canada has launched online public consultations to understand the features that could be included in a digital Canadian dollar. The consultation seeks to understand how Canadians would likely use a Canadian digital dollar, what security features are important, and accessibility and privacy concerns. The […]

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BIS issues comprehensive paper on offline CBDC payments

According to the Bank for International Settlements, offline payments with CBDCs raise new risks related to counterfeiting, fraud and privacy concerns.

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Crypto price predictions: Nest Protocol, Jasmy, Suku

Bitcoin price approached the key resistance level at $30,000 as the First Republic Bank (FRC) concerns continued. The BTC/USD pair surged to 29,800, which was higher than last week’s low of 27,000.

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UBS Stock Falls 2% after Record of Slump in Q1 2023 Net Profit

Coinspeaker UBS Stock Falls 2% after Record of Slump in Q1 2023 Net Profit The turmoil in the banking ecosystem from the United States as it concerns Silicon Valley Bank (SVB) stirred a ripple effect that was felt in Switzerland.

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Digital euro to complement cash, privacy challenges addressed

Fabio Panetta, European Central Bank (ECB) board member, assures the digital euro will enhance existing cash options while tackling privacy concerns amidst the need for security in the evolving financial landscape.

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Zero-knowledge proofs vs. CBDCs: the fight for privacy amid central banks’ bid for control

Privacy concerns surrounding central bank digital currencies (CBDCs) are growing, and zero-knowledge proofs (ZKPs) may offer a solution. As a potential game-changer, we explore combining CBDCs and ZKPs to balance accessibility, efficiency, and privacy.

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