Tag Archives: Central Bank

Chinese Central Bank Governor Defines STOs as ‘Illegal Financial Activity in China’

The People’s Bank of China (PBoC), the country’s central bank, highlighted the illegality of Security Token Offerings (STOs) in the country, English-language local news outlet South China Morning Post (SCMP) reports Dec. 9. A deputy governor of China’s central bank, Pan Gongsheng, reportedly told a summit in Beijing “that ‘illegal’ financing activities through STOs and ICOs [Initial Coin… Read More »

Malaysia: Finance Regulator, Central Bank Say Cryptocurrency Regulation ‘Being Put in Place’

Malaysia’s finance regulator and central bank issued a joint press statement Dec. 6 in which they confirmed they were “putting in place” legislation on cryptocurrency and Initial Coin Offering (ICO) assets. The statement from the Malaysia’s Securities Commission (SC) and Bank Negara Malaysia (BNM), which follows comments from senior government official that regulation of the sector could appear… Read More »

Israel: Former PM Calls Crypto a ‘Ponzi Scheme,’ But Underlines Importance of Blockchain

Israel: Former PM Calls Crypto a ‘Ponzi Scheme,’ But Underlines Importance of Blockchain Ehud Barak, a former Israeli Prime Minister, has compared digital currencies to Ponzi schemes, Israeli media agency Arutz Sheva reported on Dec. 3. Barak had participated in the Camp David Accords in 2000 as part of an attempt to solve the Israeli-Palestinian conflict, and now serves as… The post Israel:… Read More »

Nigeria’s Union Bank Reportedly Warns Against Crypto Transactions

The Union Bank of Nigeria has reportedly cautioned against transactions in cryptocurrencies, according to a letter allegedly sent to its users and published Nov. 26 by Nairaland, an online community targeted at Nigerians. Nairaland, the largest Nigerian online community with over 55 million Internet users, has published a letter reportedly from the Union Bank, which cited the Central… Read More »

France: Central Bank Does Not Endorse Plans for Tobacco Shops to Sell Bitcoin

France’s tobacco federation, the Fédération des Buralistes, has obtained permission to sell Bitcoin (BTC) at tobacconists from January 2019, privately owned French radio network Europe 1 reported Nov. 21. In a deal with French cryptocurrency wallet provider KeplerK, beginning early next year, up to 4,000 small shops will sell Bitcoin vouchers that customers can then exchange for cryptocurrency… Read More »

Indian Government to Draft Cryptocurrency Regulation Next Month

The Indian government is reportedly getting ready with draft regulations on cryptocurrencies next month.The finance ministry set up a panel in November 2017 for the purpose of preparing a regulatory framework on the issue, but the central bank has created a hostile environment for digital currency trading platforms in 2018.After a multitude of petitions filed by operators against… Read More »

Bank of Thailand Governor: Digital Currency Use Won’t Replace Cash for Three-Five Years

The governor of the Bank of Thailand (BoT) has said that it will take three to five years for countries to switch from using cash to using digital currencies. The bank governor’s comments were reported by the Thai News Agency (TNA), a subsidiary of the Thai state-owned public broadcaster, Nov. 17.   The central bank’s governor, Dr. Veerathai… Read More »

Singapore’s Central Bank Finalizes Regulatory Framework for Crypto Payment Services

The Monetary Authority of Singapore (MAS), the country’s central bank, has broadened its regulatory regime for payment providers to bring certain cryptocurrencies under its jurisdiction. The development was reported by English-language local broadsheet The Straits Times Nov. 19. The new Payment Services Bill (PSB), submitted by MAS board member and education minister Ong Ye Kung before parliament, is… Read More »

Canada, UK, Singapore Central Banks: CBDCs Would Reduce Risks in Cross-Border Payments

Central bank digital currencies (CDBCs) can help improve counterparty credit risk for cross-border interbank payments and settlements, according to a new in-depth report jointly published by the central banks of Canada, the U.K. and Singapore, Nov. 15. A CBDC is a digital currency issued by a central bank whose legal tender status depends on government regulation or law.… Read More »

Azerbaijan: Central Bank Doesn’t Plan to Issue Its Own Cryptocurrency

The Central Bank of Azerbaijan (CBA) does not plan to issue a state-backed cryptocurrency because of the “great risks,” English-language Azerbaijani news outlet AzerNews reported Nov. 15. Alim Guliyev, the first Chairman at CBA, underlined that since digital currencies “come with great risks,” the CBA is not intending to launch a central bank issued digital currency (CBDC) any… Read More »