FIAT
Non-digital currencies issued and backed by the jurisdictions of various regions. Examples include the US dollar, British pound, Euro, Chinese Yuan, and Japanese Yen.
What is CBDC?
CBDC stands for Central Bank Digital Currency, and represents the digital form of a nation’s fiat money (currency backed by trust or faith in the regulating government).
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.
Twitter Bitcoin Hack Demonstrates That Crypto Fraud is Easier to Track Than Fiat
Cryptocurrency regulation was the hot topic during an ongoing panel hosted by the Association of Certified Financial Crime Specialists.
Gemini Co-Founder Winklevoss Thinks BTC Is Set For Its Next Bull Run, With the Fed's Money Printing
Co-founder and CEO of Gemini crypto exchange Tyler Winklevoss thinks that the US Federal Reserve’s economic stimulus strategy would positively impact Bitcoin and its pricing on the crypto market.
‘Rich Dad, Poor Dad’ Author Kiyosaki Praises Bitcoin, and Says “Bitcoin is In, Real Estate & Gold are Out”
In a talk radio segment, New York Bestseller Robert Kiyosaki and crypto investor Anthony Pompliano discussed the growth of Bitcoin (BTC) and the major role the cryptocurrency will play in the future.
Bank of America Considers Bitcoin and Crypto Transactions to be Equivalent to Cash
Bank of America is considering Bitcoin, Ethereum, and other altcoins to be cash equivalent, and will treat crypto-related transactions as cash advances. Adjustments to the fees in that category of transactions will also be made.
Is Cryptocurrency the Answer? Egypt’s Central Bank Limits Daily Cash Withdrawals Amid Coronavirus Crisis
Egypt is facing a severe cash crunch as the country is feeling the economic pressure of the coronavirus outbreak. The central bank of Egypt has instructed local banks to begin restricting daily withdrawals and has instructed citizens not to withdraw so much money.
Brazilian Banking Federation President Claims Crypto Cannot Replace Fiat Money
The President of Brazilian Banking Federation has argued that cryptocurrencies do not meet the basic criteria of real currencies.
Canada, Netherlands, Ukraine Central Banks Say Blockchain Not Necessary for CBDC
In a conference hosted by National Bank of Ukraine, some central banks recently suggested that blockchain is unnecessary for digital fiat currency
Impending Central Bank Digital Currency: Data Shows Not All Central Banks Support the Move
The paradox of the situation is that banks with the capacity to push the world into the digital currency era are actually not showing much interest towards adoption; with the reason for their reluctance remaining a question with no answer.