For much of 2021, the Central Bank of Nigeria (CBN) has been in the headlines for its anti-cryptocurrency measures. Yet, the institution has this week redoubled its investment and research into crypto’s underlying technology, blockchain, and has set a clear date for the pilot scheme of its blockchain-powered central bank digital currency (CBDC).On October 1, CBN will reportedly … [Read more...] about Nigeria to pilot central bank digital currency in October
Bank
Reserve Bank of India mulls first steps toward an eventual CBDC
The Reserve Bank of India, or RBI, continues to investigate the issuance of a central bank digital currency, or CBDC.T Rabi Sankar, the deputy governor of RBI, said in a speech organized by the Vidhi Center for Legal Policy that private digital currencies could be part of what makes CBDCs ultimately necessary. He felt that the RBI’s development of it’s own CBDC could provide … [Read more...] about Reserve Bank of India mulls first steps toward an eventual CBDC
Bank of Korea selects Kakao’s blockchain arm for digital won tests
The central bank of South Korea has chosen a blockchain subsidiary of local internet giant Kakao as a technology provider for its digital currency pilots.Kakao’s Ground X had won the Bank of Korea’s central bank digital currency (CBDC) tender, becoming the principal technology supplier for blockchain-based digital won simulations, local news agency Korea JoongAng Daily reported … [Read more...] about Bank of Korea selects Kakao’s blockchain arm for digital won tests
Bitcoin bounces off $31K after Bank of America greenlights BTC futures trading
Bitcoin (BTC) continued to bounce off $31,000 support during Friday as fresh data reinforced the importance of current price levels.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewNo trip to $42,000?Data from Cointelegraph Markets Pro and TradingView showed BTC/USD repeatedly testing but, so far, not breaking through $31,000 on Friday.A late surge to near $32,000 … [Read more...] about Bitcoin bounces off $31K after Bank of America greenlights BTC futures trading
India’s ICICI Bank warns remittance users to steer away from Bitcoin
India’s stance on crypto adoption has been a gray area ever since the birth of Bitcoin (BTC). In what seems like another blow for the Indian crypto community, one of the biggest financial services, ICICI Bank, has warned users not to use their remittance services for transferring any form of crypto or digital currency.In ICICI’s latest iteration of the Retail Outward Remittance … [Read more...] about India’s ICICI Bank warns remittance users to steer away from Bitcoin