CENTRAL BANK
Central Bank is an institution in charge of monetary policies and regulating commercial banks. The core function of central banks is money issuance (money supply) and the decision on the interest rate through a basket of monetary policies and tools.
Top Four South Korean Banks Announce Plans to Provide Cryptocurrency Custodial Services
Two of South Korea’s top banks have recently announced that they were looking into providing cryptocurrency custodial services to their clients.
Federal Reserve Digital Dollar DLT Testing Underway But CBDC Monetary Policy Lags
Federal Reserve Board Governor Lael Brainaird announced that the United States Federal Reserve is currently experimenting with blockchain and DLT in pursuit of its central bank digital currency (CBDC) or digital dollar.
Bank of Lithuania Calls For Uniform Regulation for Digital Financial Innovation Across Europe
Bank of Lithuania, Lietuvos Bankas, has proposed uniform regulations throughout the European Union in response to the European Commission’s consultations for the development of the digitalization of financial services in Europe.
First Blockchain National Currency Platform Ready for Central Banks’ CBDC Issuance
The blockchain national currency platform issued by blockchain company Apollo Fintech was finalized and completed on August 12.
Bitcoin Will Be the Best Performing Asset in Two Years by a Big Margin, says Wall Street Veteran
Wall Street veteran and CEO of Real Vision believes that Bitcoin will be the best performing asset in the next two years. Although Bitcoin’s price has struggled to stay above $12,000 twice this month, he thinks that the world’s first cryptocurrency could rally to $100,000 soon, even mentioning the $1 million threshold.
COVID-19 Relief Spurs Federal Reserve Towards Digital Payments with FEDNow
The Federal Reserve is accelerating towards digital payments technology as the COVID-19 pandemic has highlighted the need to provide faster methods of relief. The United States central bank has announced the development of its own platform—FedNow.
Bank of England Chooses Accenture To Rebuild UK Payment System
Accenture has won a tender with the UK’s central bank to assist in building the UK’s new RTGS (real-time gross settlement) service.
Philippines Central Bank Considering Issuing its own CBDC
The Central Bank of the Philippines has inaugurated a committee to understudy CBDCs based on technical feasibility and policy implications
China’s Central Bank Reveals First Cohort of its FinTech Regulatory Sandbox Pilot
The Chinese central bank’s Shanghai headquarters has recently revealed the Shanghai FinTech Innovation regulatory sandbox application list. The People’s Bank of China’s (PBoC) Shanghai branch is currently soliciting opinions from the public on eight applications to be included in the FinTech innovation supervision pilot.
China's Central Bank Publishes Rules for Blockchain-Based Financial Applications
The People’s Bank of China (PBoC) has published a set of evaluation rules for blockchain-based finance applications. The published rules aim to provide regulatory oversight using three basic standards bordering on technical, performance, and security.