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Christine Lagarde, the head of the European Central Bank, appears serious about a digital euro. Barely a month after the central bank issued a major report on the topic, and opened a public... more

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The Bank for International Settlements has warned Central bankers that they risk endangering the stability of the global financial system if they launch their own digital currencies in an effort to destroy competition from rivals from outside the official sphere. “A central bank digital currency could allow for ‘digital runs’ towards the central bank with [...]

The post Digital currencies pose stability risk to Central Banks – BIS report appeared first on Payments Cards & Mobile.

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According to Reuters: “Japan’s financial regulator said on Friday it had ordered all cyrptocurrency exchanges to submit a report on their system risk management, following the hacking of over half a billion dollars of digital money from Coincheck.” Whilst the whole premise of blockchain technology and cryptocurrencies revolves around it being essentially unhackable, the exchanges [...]

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The Central Bank of Nigeria (CBN) has barred deposit taking banks and all other financial institutions from the operation of any form of virtual currency. The warning by the Apex bank was contained in a circular by the CBN Director of Financial Policy and Regulation Department, Kevin Amugo. Virtual currency (VCs) such as bitcoin, ripple, magneto, [...]

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