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India’s central bank, the Reserve Bank of India (RBI), says a basic central bank digital currency (CBDC) model must be adopted initially and tested comprehensively to minimize the impact on the country’s monetary policy and banking system. The Indian apex bank sees several benefits in launching a digital rupee, including
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A Bank of International Settlements (BIS) executive, Benoît Cœuré, says that crypto is “growing very fast” and ”becoming mainstream in different ways.” Emphasizing that decentralized finance (defi) is a “wake-up call” for financial regulators, he said countries “are likely to agree on a global framework for crypto next year.” BIS Officer Sees
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Gita Gopinath, the chief economist of the International Monetary Fund (IMF), has called for a global policy to be put in place that will regulate cryptocurrency, instead of banning it.Pitching for a global policy, Gopinath, who will soon take charge as the deputy managing director of the IMF, argued that
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Bitcoin appears to have digested the U.S. Federal Reserve’s impending hawkish, or anti-inflation, policy adjustment with a significant decline in recent weeks. Analysts said the cryptocurrency could see a relief rally after the Fed decision, due later on Wednesday.The central bank is widely expected to announce a $30 billion reduction
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There’s no denying that the Indian government shares a contentious relationship with cryptocurrencies, as was made clear recently when the government indicated that it plans on banning all private cryptocurrencies — a list that could potentially include just about every digital asset in the market today — after it had
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Such a feat by the Bank of Canada will require any potential stablecoins to be well designed and regulated to make them attractive to Canadians, Zelmer and Kronick wrote. The digital currency should also be issued in token form, with decentralized technology for settling transactions, allowing Canadians to retain most
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The United States Federal Reserve is planning to address ambiguities that they feel are plaguing digital asset regulation in the country following rapid analyses by government agencies.In a Tuesd announcement, the Board of Governors of the Federal Reserve System said it recently worked with the Federal Deposit Insurance Corporation and
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The Reserve Bank of Australia has been ramping up research into central bank digital currencies (CBDCs), but is not convinced “that a strong policy case has emerged in Australia,” said Tony Richards, Head of Payments Policy at the RBA.Australia’s current payment infrastructure provides consumers with ample safe and convenient options,
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The U.S. House of Representatives voted to pass the infrastructure bill that contained a provision that shook the crypto world. Financial regulators called on Congress to regulate stablecoins. In other words, crypto had a big week in Washington, D.C.You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection
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