Digital Currencies

New Bank of America Report Says Digital Currencies ‘Could Boost Economic Growth’ in Developing Countries

<div class=”featured_image_container”> </div> <strong>A new Bank of America (BOA) research study has found that both central bank digital currencies (CBDCs) and private digital currencies hold “a lot of potential” for increasing financial inclusion in developing countries. In the report, the bank also argues that such “digital currencies could reduce transaction costs and allow more economic …

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Tunisian Minister Says He Plans to ‘Decriminalize’ the Buying of Bitcoin

<div class=”featured_image_container”> </div> <strong>After reports that Tanzanian President Samia Hassan had asked her finance chief to look into cryptocurrencies, Tunisia has become the latest African country to signal a willingness to embrace digital assets. According to remarks attributed to Ali Kooli, Tunisia’s economy minister, the North African state will soon move to decriminalize the buying …

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Hedge Funds Aim for $300 Billion in Crypto Assets Within 5 Years, Survey Shows

<div class=”featured_image_container”> </div> <strong>Hedge funds are likely to significantly increase their crypto holdings, a global poll of chief financial officers has indicated. According to an average figure based on their forecasts, the funds will keep more than 7% of assets in cryptocurrency within the next five years. </strong> Hedge Fund CFOs Expect Sizable Increase in …

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Swiss, French Central Banks to Trial Wholesale CBDC Settlements With BIS and Private Sector

<div class=”featured_image_container”> </div> <strong>The central banks of Switzerland and France are joining hands with the Bank for International Settlements to test wholesale central bank digital currencies in cross-border transactions. The experiment will be conducted with the help of a private sector consortium led by Accenture. </strong> European Central Banks to Collaborate on CBDC Project The …

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Amazon Job Listing Seeks Blockchain Lead – Internet Giant Looks to Create ‘Business Use Cases Across Defi’

<div class=”featured_image_container”> </div> <strong>Amazon is looking for a blockchain expert, according to a job posting published on the company’s employment portal. The firm wants someone who is “passionate about blockchain and decentralized networks” and someone who can build innovative “business use cases” across decentralized finance (defi). </strong> Online Marketplace Amazon Hopes to Hire a Head …

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Kenyan Banks Warn Clients Against Crypto Trading

<div class=”featured_image_container”> </div> <strong>A few Kenyan banks have started sending out warning alerts to clients engaged in cryptocurrency trading to be wary of the associated risks. These warnings have reportedly been sent to clients who have “used their credit and debit cards to buy cryptocurrencies on crypto exchanges.”</strong> Crypto Trading Risks According to a local …

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Kalashnikov Eyes Digital Ruble Settlements as Russia Aims to Replace ‘Dirty Money’

<div class=”featured_image_container”> </div> <strong>Kalashnikov Group, the Russian firearms manufacturer, is ready</strong><strong> to transition to settlements in digital currency. The announcement came from the international economic forum in Saint Petersburg where the central bank of Russia reaffirmed its intention to replace “dirty” and “infectious” paper cash with the digital ruble that’s currently under development. </strong> Russia’s …

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ECB: Digital Euro to Boost Global Appeal of European Money, Fight ‘Artificial Currencies’

<div class=”featured_image_container”> </div> <strong>The digitization of traditional currencies like the euro has the potential to increase their international appeal, the European Central Bank says in a new report. A failure to offer a digital currency would endanger financial stability, ECB warns. The regulator is concerned about the prospect of tech giants dominating payments through their …

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Dental Clinic in Ontario to Accept Cryptocurrency for Its Services

<div class=”featured_image_container”> </div> <strong>Southdown Dental, a clinic in Mississauga, Ontario, is introducing a new payment</strong> <strong>option. Patients will soon be able to pay with cryptocurrency for its services. The dental clinic says it will take digital money for any procedure, from regular checkups to children’s braces. </strong> Canadian Dental Clinic Meets Rising Demand for Crypto …

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Tiger Brokers and Futu to Offer Crypto Trading Services Outside China

<div class=”featured_image_container”> </div> <strong>Two Chinese online brokerages have set out to enter the global crypto trading market. The platforms, Tiger Brokers and Futu, are planning to offer their services only outside the People’s Republic as Beijing is once again cracking down on bitcoin trading in the country. </strong> Major Chinese Online Brokers Dive Into Crypto …

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