Above Photo: Samuel Corum / Anadolu Agency / Getty Images The past year has exposed the myth that central banks are neutral bodies which exist outside of politics – and made clear that their crucial economic functions must be brought under democratic control. In the US, two senior central bank officials recently stepped down after concerns were raised about their trading activities during the pandemic. Robert Kaplan, Chairman of the Federal Reserve Bank of Dallas, will step down next month, and Eric Rosengren, President of the Federal Reserve Bank of Boston, will step down at the end of September. Both were […]
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Above photo: Students, parents and educators gather outside the Central York School District Educational Service Center to protest the district’s banned resources list on Monday, Sept. 20, 2021, in Springettsbury Township, York County. Parents yelling about masks or demanding book bans over ‘critical race theory’ isn’t really about their kids, who have different ideas. I’m old enough to remember when sociologists’ big worry for the American family was “helicopter parents” — moms and dads who hovered too closely over their spawn, denying them room to breathe. How quaint. The long, hot summer of 2021 has brought “the Sherman tank parent” — […]
Above photo: U.S. soldiers leave a plane as they arrive from Afghanistan at the Manas air base in February 2009. September 11, 2021 marks the 20th anniversary of the Afghan war. But which one? There were actually two Afghan wars. The first began within a few weeks of the 9-11 tragedy, when the US was attacked by Al Qaeda with the assistance of elements of the Saudi Arabia ruling elite. In the first war US forces invaded Afghanistan behind the excuse its mission and goal was to capture Bin Laden and deny Al Qaeda a base in that country, even though […]
U.S. Marine Corps Forces Central Command reported that its first MQ-9A Unmanned Aerial System achieved 10,000 total flight hours in the Central Command area of responsibility, a major milestone for the modernization of the force. The MQ-9A “Reaper” is a Remote Split Operations (RSO) product from General Atomics Aeronautical Systems Incorporated. The RSO capability revolutionizes military operations by allowing the system operator to be thousands of miles away from both the launching site, and airspace covered by the aircraft. VMU-1, a squadron at Marine Corps Air Station Yuma, Arizona, pilots the forward deployed Reaper, which has supported daily combat operations for […]
A relatively rare and heavily customized Ural-432007-0111-31 6-ton truck, allegedly owned by a Russian state-sponsored private military contractor Wagner, was spotted near the Bangui, Central African Republic. The special truck, better known as Wagner-wagon, uses by fighters from the Wagner Group PMC (private military company), Russian state-sponsored private military contractors carrying out deadly force in the region. Wagner is a secretive contractor whose soldiers of fortune played a role in Syria, Lybia, Sudan and eastern Ukraine. This private military company linked to Yevgeny Prigozhin. Prigozhin is a Russian businessman indicted in the United States for meddling in the 2016 U.S. presidential election. Wagner […]
Russia reportedly has deployed two Mi-8AMTSh Hipp military helicopters to the Central African Republic. On Friday, the heavy-lift An-124 Ruslan (Condor) cargo plane delivered two Russian Mi-8AMTSh Hipp multipurpose helicopters to the Bangui M’poko International Airport in the Central African Republic. According to Radio Liberty, Russia has already deployed hundreds of troops in the deeply unstable country amid an alleged coup bid ahead of presidential and parliamentary elections. – ADVERTISEMENT – CONTINUE READING BELOW – Russia has also sent an additional 300 military instructors to the Central African Republic (CAR) to deal with what its foreign ministry calls a “sharp degradation […]
Western media outlets say Russia has been deploying troops to Central African Republic to support Russian state-sponsored private military contractors, or PMCs, operating there. A number of Ilyushin -76 cargo planes from Russia, an ally of President Faustin-Archange, landed in Central African Republic this weekend, the security source and a source at the airport said. Observers identified over a dozen Russian military trucks with soldiers and two armoured personnel carriers at Bangui airport. – ADVERTISEMENT – CONTINUE READING BELOW – Central African Republic officials conformed that Russia sent hundreds of troops into the country after an alleged coup bid that took place ahead […]
Destabilized By US Imperialism, Central America Faces Climate Catastrophes By Giovanni Batz, The Red Nation. November 21, 2020 Destabilized By US Imperialism, Central America Faces Climate Catastrophes2020-11-212020-11-21https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/11/iota.jpg200px200px Above photo: Iota considered the strongest hurricane in history to hit Nicaragua. At the moment, Central America is suffering from the acceleration of climate change fueled natural disasters. On the heels of the recent Hurricane Eta and a raging pandemic, Hurricane Iota has hit the region, predominantly impacting Indigenous, Afro-descendant, and black communities. The situation has been made worse by violent and corrupt governments supported by the United States. Indigenous and Afro-descendant communities in […]
https://cdn1.img.sputniknews.com/i/logo-itemprop.png Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/world/202010171080800680-belarusian-opposition-holding-womens-march-in-central-minsk—photos-videos/ MINSK (Sputnik) – Several dozen opposition supporters are holding a traditional women’s march in Minsk on Saturday, a Sputnik correspondent reported. A small group of participants first gathered near a shopping mall in the Belarusian capital and then started marching down Independence Avenue. Initially, they marched without slogans and symbols but later unfurled opposition white-red-white flags. Participants of the unsanctioned procession are also carrying flowers, white-and-red umbrellas and banners. As they move, other people join the column, not just women. From time to time, the marching crowd shouts to passers-by: “Join us!” No law […]
Kandice Ortega cleaned the tables and phones in building 503 with a sanitary pad. There were no fresh rags, but she didn’t want to live in filth — cleanliness had taken on a new, pressing importance. Like many, Ortega worried about getting COVID-19. But unlike much of the country, Ortega had few options to limit her exposure. She is incarcerated at the Central California Women’s Facility (CCWF), the largest women’s prison in the world. When CCWF officials began to limit activities and movement to safeguard against the coronavirus, building 503 was turned into a quarantine unit with 100 beds for isolation. […]
Riksbank Governor Stevan Ingves sees a Swedish digital currency as an imperative for the central bank. Source link
Amy Cooper, the white woman who called police on a Black man after he asked her to leash her dog in Central Park, called 911 twice during the Memorial Day incident, falsely stating in a previously unreported call that he “tried to assault her,” prosecutors revealed Wednesday. Cooper, 41, was charged in July with a misdemeanor count of falsely reporting an incident in the third degree, the Manhattan District Attorney’s office said. In a 911 call captured in a viral video, she allegedly falsely reported that Christian Cooper, 57, was threatening her life. The charge is punishable by up to a […]
The Australian central bank sees no need to issue its own retail digital currency just yet, a top official said Wednesday. Tony Richards, head of payments policy at the Reserve Bank of Australia (RBA), told the UWA Blockchain, Cryptocurrency and Fintech conference that his agency had evaluated retail central bank digital currencies (CBDCs) and found “no strong public policy case” for introducing a general use version of the Australian dollar. “Even though the use of cash for transactions is declining, cash is still widely available and accepted as a means of payment,” he said. “In addition, Australian households and businesses are […]
New reports on digital currency design principles and regulatory standards show just how quickly the world’s bankers are moving. Source link
International financial authorities and seven of the world’s largest economies are establishing official standards for regulating and issuing sovereign digital currencies. The Group of Seven (G7) — an organization of finance ministers and central bank governors representing the United States, Canada, United Kingdom, Germany, France, Italy and Japan — said in a report last week that it is working with the International Monetary Fund (IMF), the World Bank and the Bank for International Settlements (BIS) to formalize the use of central bank digital currencies (CBDC) in banking systems. According to a new report released today, by the end of 2022, the […]
Bank of Japan Governor Haruhiko Kuroda said Monday that the central bank will begin experiments on a digital yen in the spring. Source link
Chen Yulu, deputy governor of the People’s Bank of China, said at the weekend that the digital yuan project should be accelerated as an important part of the nation’s financial infrastructure. Source link
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source link
The seven central banks, along with BIS, have released a report setting out agreed core objectives that must be met by national digital currencies. Source link
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source link
BRUSSELS (Sputnik), Luc Rivet – George Soros and his allies in the European parliament are currently celebrating a victory at the European Court of Human Rights against Hungary and its Prime Minister Viktor Orban after the ruling that the country’s law that forced its Central European University out of Hungary contradicts the EU law. This is only the latest of attacks on the Eastern European country and its leader mounted by Europe’s various leftist parties and EU institutions in their ongoing crusade against the so-called illiberal states, which is how they describe Christian right-of-centre governments of countries such as Poland and […]
An official for China’s central bank has unveiled usage statistics of state-backed digital currency trials that were conducted in three Chinese cities. Speaking virtually at the Sibos 2020 conference on Monday, Fan Yifei, deputy governor of the People’s Bank of China, said the bank opened 113,300 consumer digital wallets and 8,859 corporate digital wallets for residents of Shenzhen, Suzhou and Xiong’an to pilot a digital yuan. The digital wallets processed RMB 1.1 billion ($162 million) across 3.1 million digital yuan transactions between April and August when the pilots launched and ended, Fan said, making it the most widely used central bank […]
As the European Union gets more serious about a digital euro, most central bank digital currencies intend to remove the anonymity of cash. Our main discussion: central bank coins and financial privacy. The EU recently released a new research paper on a possible digital euro. Like many other official central bank reports, it assumes there is no possibility of an anonymous digital bank currency. NLW dissects arguments from people including JP Koning and CoinCenter’s Jerry Brito on why this shouldn’t be true. Source link
Eesti Pank said the initiative will gauge the suitability of the KSI Blockchain, already used within the country’s e-government system, in supporting a central bank digital currency. Source link
https://cdn1.img.sputniknews.com/img/07e4/0a/03/1080649757_0:354:2001:1479_1200x675_80_0_0_7359f3f16a2574052c32bf3ce83ddae7.jpg Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/us/202010031080649688-unknown-man-attacks-ghostbusters-star-near-nycs-central-park—video/ After the assault, Moranis, 67, had to take himself to hospital, and then reported the attack to a local police station, according to media, citing law enforcement. The “Ghostbusters” and “Honey, I Shrunk the Kids” star, Rick Moranis, has been attacked while walking on a sidewalk not far from Central Park in New York City. “Rick Moranis was assaulted on the Upper West Side yesterday. He is fine but grateful for everyone’s thoughts and well wishes”, a representative for the actor confirmed. The NYPD has released both the surveillance footage from the scene and the picture […]
The Bahamas confirmed it will cross the central bank digital currency (CBDC) finish line next month. “The intended outcome of Project Sand Dollar is that all residents in The Bahamas would have use of a central bank digital currency, on a modernized technology platform, with an experience and convenience—legally and otherwise—that resembles cash,” the central bank said. Source link
The central bank of Thailand announced on Friday it has launched the “DLT Scripless Bond Project” aimed at building a secure and efficient government bond infrastructure. Source link
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source link
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source link
https://cdn1.img.sputniknews.com/i/logo-itemprop.png Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/middleeast/202009021080351871-syria-intercepts-israeli-strike-on-central-air-base—state-media/ According to Syrian state media, several missiles fired at the T-4 air base were intercepted on Wednesday. According to the Syrian Arab News Agency (SANA), Syrian air defenses over the city of Homs engaged a barrage of “rockets” allegedly fired by an Israeli aircraft at the T4 air base. The report notes the missiles came from the direction of at-Tanf, a US-controlled base on the Syrian-Iraqi border. The report noted that most of the missiles were shot down; however, some did hit their targets without loss of life. MORE INFORMATION TO FOLLOW… Source link
https://cdn1.img.sputniknews.com/img/107814/74/1078147454_0:0:1367:768_1200x675_80_0_0_4e241af8d2b93abf2fead54bfcb60ee8.jpg Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/asia/202008181080200468-magnitude-69-earthquake-strikes-central-philippines/ A 6.9 magnitude earthquake struck the central Philippines on Tuesday local time, according to the Indonesian Meteorology, Climatology, and Geophysical Agency (BMKG). The quake occurred in Samar, an island in the Philippines. The earthquake was felt most strongly in Mapanas, Legazpi, Lezo and Aklan. The next strongest intensity level was felt in Iloilo, followed by Roxas City. The United States Geological Survey recorded the earthquake as having a 6.7 magnitude. The European Mediterranean Seismological Centre (EMSC) reported an earthquake of magnitude 6.6. There are currently no reports of any casualties. A tsunami is not expected. Indonesia is often struck by earthquakes, […]
According to Environment Canada, the country’s weather information agency, many municipalities were placed under multiple warnings and watches on Sunday afternoon. The agency warned that the storms could last until the evening. Environment Canada warned that large parts of eastern and central Ontario could face strong storms, thunderstorms and rainfall on Sunday, noting that they could be capable of producing tornadoes. One such storm, located near Moulton Lake in South Frontenac, is moving northeast at 9 km/h, the agency said. A line of severe thunderstorms capable of producing tornadoes was located 7 kilometres northwest of Pakenham to Garretton, moving northeast at 5 […]
The Czech National Bank’s Tomas Holub said in an interview that central bank digital currencies raise more questions than answers right now. Source link
The Bank of Japan is warming to digital currencies and now has a team dedicated to researching a possible digital yen. Source link
Thailand’s digital currency is backed by the central bank’s foreign currency reserves, which have grown by $25 billion over the past 12 months. Source link
CDC headquarters, Atlanta, Georgia, photo via CDC The Trump administration announced new guidelines on Wednesday. Starting today hospitals will be ordered to bypass the CDC and send ALL COVID-19 patient information to a central database in Washington DC. This comes after TGP’s Tuesday report on the likely fraudulent numbers coming from the CDC. EXCLUSIVE: Three Reasons the China Coronavirus Incidence and Mortality Counts Reported by the CDC Are Likely Fraudulent The CDC is just the latest government entity that has become politicized by the American left. TRENDING: Nick Cannon Canned and Canceled – After Anti-Semitic Slurs and Anti-White Filth (Video) The […]
https://cdn1.img.sputniknews.com/img/107847/05/1078470558_0:0:1200:676_1200x675_80_0_0_36c31b8d15afbd96c78667472edb06e5.jpg Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/asia/202007111079859283-mine-blast-kills-6-civilians-injures-8-in-central-afghanistan/ KABUL (Sputnik) – A roadside bomb explosion in Afghanistan’s central province of Ghazni killed six civilians and wounded eight others, a Saturday statement from the governor’s office said. The blast took place in the Dara-e-Qiaq area, in Ghazni province’s Jaghatu district, at around 4 p. m. local time (12:00 GMT) on Saturday, according to the statement from Ghazni governor’s spokesperson Wahidullah Jamazada. The dead and the wounded included women and children, the statement said adding that the injured were taken to Ghazni Civil Hospital. According to Ghazni governor’s spokesperson, Taliban* insurgents were behind the […]
DiDi, the Chinese equivalent of Uber, is forming a task force to design and implement a trial of China’s central bank digital currency (CBDC) on its transportation platform. A spokesperson of the Chinese ride-hailing mobile service told CoinDesk in an email response that it has entered into a strategic partnership with the Digital Currency Research Institute of the People’s Bank of China (PBoC) in an effort to accelerate the application of the CBDC, known as Digital Currency Electronic Payment, or DCEP. “Under PBoC’s overall DCEP strategy and operation timeline, DiDi’s DCEP taskforce will design and implement pilot DCEP projects in accordance with […]
A leading economist shares why crisis-time central bank policies are saving zombie companies while hurting small businesses and startups. Our main discussion is with Daniel Lacalle. Daniel is chief economist at Tressis and is the author of numerous books including “Life in the Financial Markets,” “Escape from the Central Bank Trap” and his most recent, “Freedom or Equality.” He has been named one of the 100 most influential economists in the world by Richtopia. In this conversation, he and NLW discuss: Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides […]
Amy Cooper, the white woman who called the police in May and falsely accused a Black man of threatening her life after he asked her to leash her dog in Central Park, faces charges for the incident, prosecutors announced Monday. Cooper, 41, will be charged with filing a false report, a misdemeanor offense punishable by up to a year in jail, for making the May 25 complaint against Christian Cooper, the Manhattan District Attorney’s office said. “Good,” Mayor Bill de Blasio tweeted after the announcement. “Her racist behavior could have had dire consequences for a Black man. Glad she’ll face consequences […]
The white woman who became the poster child for white privilege when she called 911 on a black birdwatcher in New York’s Central Park has been charged with filing a false report. But the internet wants more punishment. Amy Cooper, the former insurance investment manager turned social media scapegoat for systemic racism, has been charged with “falsely reporting an incident in the third degree,” Manhattan District Attorney Cy Vance announced in a statement on Monday. Vance also encouraged others who’d been the “target of false reporting” to contact his office. Cooper, dubbed “Central Park Karen” on social media, lost her job […]
The Monetary Board of the Central Bank of Sri Lanka is close to starting development of a blockchain platform expected to speed up the processing of bank users’ ID information. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source link
Antifa militants in Portland tried to barricade the Central Precinct on Friday night. Antifa had just set fire to the North Precinct. The anarchists did all their usual stuff in targeting the North Precinct, such as tagging the police building, setting up pallets and barricades, and lighting random stuff on fire, before the police moved in and actually did their job. However, last night, Portland police rushed in to stop the rioters trying to barricade the Central Precinct. TRENDING: Far Left Companies and Brands – Pepsi, HP, Doritos, Paypal, Adobe, BMW – Pull Ads from Facebook Until they Ban Conservative Voices […]
https://cdn1.img.sputniknews.com/i/logo-itemprop.png Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/uk/202006261079728462-heavy-police-presence-in-central-glasgow-amid-reported-stabbing-attack–video/ Source link
The Bank for International Settlements (BIS), the so-called bank for central banks, rejected the popular narrative that private sector stablecoin proposals (read: Libra) have been key in spurring the issuance of central bank digital currencies (CBDC) in a report published Tuesday. Instead, the BIS, in a new digital payments chapter of its annual economic report, said that central bankers have come around to CBDCs because the tech presents a convenient vessel through which they can shape the future of payments. “CBDC issuance is not so much a reaction to cryptocurrencies and private sector ‘stablecoin’ proposals, but rather a focused technological effort […]
https://cdn1.img.sputniknews.com/img/107737/60/1077376001_0:0:1200:600_1200x675_80_0_0_e75e2653ce77c473d1ca748795390cf1.jpg Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/us/202006241079711683-58-magnitude-quake-hits-central-california-usgs-says/ In July 2019, a 7.1 magnitude earthquake that hit southern California caused damage to several houses, while about 2,000 people lost power. A 5.8 magnitude earthquake hit central California on 24 June, the United States Geological Survey (USGS) said. The quake was recorded at 17:40 GMT, according to the USGS. The epicentre was located 19.3 kilometres (12 miles) south of the city of Olancha, CA, at a depth of 2.9 kilometres. There are no reports of injuries or damages as a result of the earthquake. Prior to this, a 5.3 magnitude quake struck central […]
Sweden’s Riksbank has looked into the viability of central bank digital currencies (CBDCs) for its local market and declared mixed results. In a 96-page economic review, updated June 18, the world’s oldest central bank presents four models for supplying a digital version of the Swedish krona (e-krona) as well as outlining how well the different models would fit its policy goals. Those goals include fostering a stable store of value and unit of account, being a lender of last resort (LOLR) providing a secure means of payment and settlement and providing tools for preserving financial stability. Amid that backdrop, the four […]
Several military bases in central and southern Syria have been targeted by air attacks that Damascus blamed on Israel, Syrian state media have reported. Videos on social media show massive explosions illuminating the night. Israel targeted several locations in Salamiyah and Saburah just before 1 am on Wednesday, the Syrian army said, adding that its air defenses shot down “a large number” of hostile missiles but that some struck their targets and inflicted “limited material damage.” Judging by the volume of explosions, one of the targets appears to be an ammunition depot. The Hama strikes followed the attacks on As-Suwayda and […]
The Trump administration’s attempts to implement longstanding policy goals on immigration in the name of fighting the coronavirus pandemic has helped spread the deadly virus to Central America, according to a new report from an international refugee organization provided to The Daily Beast. Among the findings, a staggering one in five cases of COVID-19 in Guatemala can be traced back to migrants that the United States has deported. The report from Refugee International, a non-governmental organization that advocates for displaced people, published on Tuesday morning, has found that despite being given a clean bill of health by the U.S. government, would-be […]
Protesters Blockade Central Prison In North Carolina By Calvin Deutschbein, Workers.org. June 22, 2020 Protesters Blockade Central Prison In North Carolina2020-06-222020-06-22https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/06/raleighblm-e1592843023672.jpeg200px200px Above photo: Raleigh demonstrators block entrance to Central Prison for eight minutes and 46 seconds. Durham WW bureau. June 13 marked the beginning of the third week of protests in Raleigh, N.C., the state capital and home of the murderous Raleigh Police Department and more than 70 other law enforcement agencies. Different days have drawn different groups with varying goals, but not a day has gone by without hundreds of people turning out on the streets to support Black Liberation and oppose […]
The Bank of Thailand is developing a prototype payments system which would rely on a central bank digital currency (CBDC). The central bank announced Thursday that it would target businesses, and would design a payment system that could be integrated with the procurement and financial management system of Siam Cement Group, Thailand’s oldest cement manufacturer, and its suppliers. The bank said the digital currency prototype is being developed by Digital Ventures, a fintech-facing venture capital wing of the Siam Commercial Bank that invested in Ripple in 2016. According to the statement, the project will also include a feasibility study on the […]
Private entities aren’t needed to build central bank digital currencies, said the head of the U.S. central bank on Wednesday. Federal Reserve Chairman Jerome Powell, speaking before the House Financial Services Committee, said the idea of a digital dollar – a blockchain-based version of the current world reserve currency – is complex, and one that the Fed takes seriously, but also that the idea needs to be studied further before one can be created and implemented. However, in response to a question from Rep. Tom Emmer (R-Minn.), Powell said he believed private entities did not have a role in designing a […]
After years of research, the Bank of Canada is preparing to design its own central bank digital currency (CDBC). Revealing its plans in a June 11 job posting, the central bank said it was “reinventing central banking” and radically rethinking the nature of Canada’s cash. “The Bank of Canada is embarking on a program of major social significance to design a contingent system for a CBDC, which can be thought of as a banknote, but in digital form,” the bank wrote. CoinDesk’s request for comment was not returned by press time. Still, the job posting said as much about the new […]
South Korea’s central bank is moving ahead with research into digital currencies as it sets up a legal panel to advise on possible regulatory sticking points. Per an article in The Korea Times on Monday, the Bank of Korea (BOK) said the six-person panel, comprised of legal experts in the financial and IT sectors, as well as one specializing in fintech, would provide guidance and advice to the bank as it develops and tests a central bank digital currency (CBDC). “We established the advisory group to discuss legal issues surrounding a CBDC and figure out which laws need to be revised […]
Central bank digital currencies might one day replace commercial banks. But that comes with risks, according to new research from the Federal Reserve of Philadelphia. The 32-page research paper – titled “Central Bank Digital Currency: Central Banking for All?” – investigated the implications of an account-based central bank digital currency (CBDC), focusing on its potential competition with the traditional maturity transformation role of commercial banks. “The introduction of digital currencies may justify a fundamental shift in the architecture of a financial system, a central bank ‘open to all,’” the paper, which was published on June 1, reads. Questions posed by the […]
A professor at the University of Central Florida faces calls for his removal after claiming in a Twitter rant that “black privilege is real” and insisting that the answer to systematic oppression is to “stay in school” amid nationwide protests over the death of George Floyd. Charles Negy, an associate professor in the Psychology Department, has fired off over 30 contentious tweets about race, inequality, and oppression since May 25—the day Floyd was filmed repeatedly saying he couldn’t breathe while an officer pressed his knee on his neck for several minutes. The controversial tweets, which were sent while thousands of people […]
An Iranian lawmaker wants his country’s central bank to take bitcoin seriously. Representative Mohammad Hossein Farhangi (Tabriz), speaking Tuesday before the nation’s parliament, called on the Governor of the Central Bank of Iran, Abdolnaser Hemmati, to handle oversight of bitcoin, according to the Tasnim news agency. Calling proper management of bitcoin a “good opportunity for the country,” Farhangi warned against ceding its potential to financial institutions. “Take the issue of bitcoin seriously,” he said. “We do not understand that the government has entrusted the monitoring of bitcoins to the Ministry of Industry and Mines,” he said, “because the central bank must […]
Alexander Lipton is the CTO of Sila, a visiting professor and Dean’s Fellow at the Jerusalem Business School of the Hebrew University of Jerusalem, and a Connection Science Fellow at the Massachusetts Institute of Technology. As many still wait to receive the check from the Paycheck Protection Program and Health Care Enhancement Act, which is set to distribute $484 billion in an effort to boost the U.S. economy, it brings to the forefront the question of why central banks have still not created a true digital alternative to cash. When completed, the Economic Impact Payment program will distribute 150 million payments. […]
India’s commercial banks can indeed provide banking services to traders and firms dealing in cryptocurrencies, the nation’s central bank clarified last week. “As on date, no such prohibition exists,” the Reserve Bank of India (RBI) said on May 22. The statement came in response to a query filed by BV Harish, co-founder of the cryptocurrency exchange Unocoin, under the Right to Information (RTI) Act. As reported by The Economic Times on Tuesday, the RTI was filed on April 25, seeking clarification on whether banks were still prohibited from providing services to cryptocurrency traders and service providers despite a recent ruling by […]
The impact of the Covid-19 pandemic on the eurozone economy has been significant, according to the European Central Bank (ECB), increasing the underlying financial vulnerabilities of the euro area. The ECB’s May 2020 Financial Stability Review suggests that the euro governments’ vast fiscal response to the pandemic could raise questions over their ability to repay debts, and could revive the threat of countries leaving the single currency. “Should measures taken at the national or European level be deemed insufficient to preserve debt sustainability, the market assessment of redenomination risk might rise further,” the ECB said. “Redenomination risk” refers to the danger of some […]
Viral 09:23 GMT 25.05.2020Get short URL https://cdn1.img.sputniknews.com/img/107941/00/1079410056_0:320:3072:2048_1200x675_80_0_0_4c66e112497ea9900fe4e1ef46effcc4.jpg Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/viral/202005251079409952-year-of-tragedy-locust-invasion-now-wreaking-havoc-in-central-india—video/ New Delhi (Sputnik): Locusts from Iran and Pakistan have swarmed India and already caused havoc in Rajasthan. The invasion has now moved on to central India and the state of Madhya Pradesh is facing the worst such attack in 27 years. As India is trying to grapple with rising COVID-19 cases, the economic impact of lockdown, the aftermath of a super cyclone in West Bengal, and a heatwave in northern India, western and central Indian states are facing the worst locust attack in 27 years. The locust swarms […]
Igor Mikhalev is an expert principal at BCG helping clients develop business models with blockchain technologies and digital currencies. Kaj Burchardi is a Managing Director with BCG and leads the blockchain practice of BCG/Platinion globally. Digital currencies hold a long-term promise to change the way nations, corporations, and people transact value. Some of them – combining both cryptocurrency benefits (disintermediation, high speed, and low cost of transactions) as well as qualities of traditional currencies (e.g. price stability and being able to act as legal tender) – challenge traditional financial systems at the core. While first-generation digital currencies deployed by consortia of […]
Byrne Hobart, a CoinDesk columnist, is an investor, consultant and writer in New York. His newsletter, The Diff (diff.substack.com), covers inflection points in finance and technology. The bull case for bitcoin as a store of value is simple: at first nobody owns it. Then it’s owned by people who are some combination of crazy and smart, but generally crazier than they are smart. Over time the craziness requirement drops, more investors buy it and it becomes dumb not to own a little. Since existing monetary systems are necessarily optimized for the status quo – and the dollar is, in fact, very […]
Central banks in 46 countries are considering creating a central bank digital currency (CBDC) using a constrained form of distributed ledger technology (DLT), according to a new survey. But they’re leery of blockchain. London-based journal Central Banking, a specialized publication supported, among others, by the Bank of International Settlements (BIS) and the European Central Bank (ECB), found in its inaugural CBDC survey released last week that 65% of respondents had actively researched digital currencies. But the survey, conducted in February, found only one central bank would use blockchain as the basis for a CBDC. Described as a “small African central bank,” […]
Visa looks to be laying the groundwork for a future in which fiat currencies, like the U.S. dollar, could be easily turned into a central bank digital currency (CBDC). The California-based payments giant, which processes upwards of 100 million transactions every day on average, has filed a patent application for a process for turning physical fiat currency into a newly digitized version. The filing, which was filed with the U.S. Patent and Trademark Office in November and made public on Thursday, says the system would be able to mint new digital fiat currency and keep a tally of all issuances on […]
The Bank of Mauritius is inching closer to issuing a retail-focused central bank digital currency (CBDC), its governor confirmed Tuesday. Speaking at CoinDesk’s Consensus: Distributed virtual conference, Governor Harvesh Seegolam said the Republic of Mauritius would be embarking on a pilot in the near future, though he declined to share many details. “At the level of the Bank of Mauritius, we’re currently working on a project and very shortly we’ll be making announcements … with respect to a potential introduction of a CBDC,” he said. Seegolam said any CBDC would have to be distributed through the established banking system, even if […]
CipherTrace, a blockchain analytics partner of governments and cryptocurrency exchanges, is pitching itself to a fresh clientele: central banks. The crypto investigations firm announced Tuesday that it is establishing a central bank digital currency (CBDC) initiative. As described by chief financial analyst John Jefferies, the outreach effort will seek to place CipherTrace in the growing conversation around designing and securing CBDCs. Part of the initiative will center on business outreach, Jefferies said. Partnering with even one central bank would be a lucrative business proposition for CipherTrace. With 80% of central banks polled by the Bank for International Settlements reporting they are […]
Money futurists with a flair for central banking, take note: The Reserve Bank of New Zealand is hiring. New Zealand’s monetary authority is looking for a “Head of Money and Cash,” a new position that will, according to a May 5 job posting, be “focused on the future of money.” The new role will be a digital currency specialist who can speak to trends reshaping financial infrastructure – “online payments and digital currencies” – and provide “thought leadership around the future of cash and money.” What the job entails is up for debate, but that seems to be the point. This […]
Hungarian Prime Minister Viktor Orbán speaking last month in Parliament, when lawmakers granted him the power to rule indefinitely by decree. One aspect of the law ostensibly passed to cope with the coronavirus calls for prison terms of up to five years for those convicted of spreading falsehoods or distorted facts during the emergency. Tamas Kovacs/AP hide caption toggle caption Tamas Kovacs/AP Hungarian Prime Minister Viktor Orbán speaking last month in Parliament, when lawmakers granted him the power to rule indefinitely by decree. One aspect of the law ostensibly passed to cope with the coronavirus calls for prison terms of up […]