The Federal Reserve Bank of New York is partnering with the Bank for International Settlements (BIS) Innovation Center to test government stablecoins to improve foreign exchange transactions. This study was conducted as part of the Cedar project organized by BIS to test wholesale CBDCs in international transactions. Director of the New York Innovation Center (NYIC) Per von Zelowitz noted that thanks to the blockchain, payments using foreign currencies can be made within 10 seconds. In

The number of machines for buying cryptocurrencies on the planet continues to grow. For the year in Canada, there were 2,549 units. Since the beginning of the year, about 400 new cryptomats have been installed in Canada. This is 28% more than in January-September last year. In January 2022, there were 2,174 ATMs in the country. Analysts note that the indicator will continue to grow, even despite the extremely difficult period for the cryptocurrency industry.

Former CEO of cryptocurrency derivatives exchange BitMEX, Arthur Hayes, called government stablecoins “a real evil” because with their help the government will be able to control the population. In his publication, Arthur Hayes argues that with the introduction of state-owned cryptocurrencies (CBDC), the main actors in this “tragedy” will be the government and the political elite, who will control people as puppets, as well as commercial banks. If the digital currencies of the Central Bank

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The Canadian authorities announced the start of consultations on cryptocurrencies, stablecoins and digital currencies of the Central Bank – experts will study the possible risks associated with crypto assets and make their proposals on the budget. The federal government of Canada made the announcement in its 2022 Fall Economic Report. According to the document, the development of the cryptocurrency industry is transforming financial systems around the world, so the regulation of the country’s financial system

Building a Diverse Trading Portfolio   A look at the importance of risk mitigation through diversifying your portfolio.   When it comes to online trading, portfolio diversification is a powerful tool used by investors to mitigate risk. This strategy involves investors holding multiple assets across varying markets, industries and geographical jurisdictions in order to spread their exposure and decrease the risk of loss due to one industry collapsing.     The Benefits of a Diversified

A senior commodities strategist at Bloomberg Intelligence believes that the decline in bitcoin and ether amid growing adoption of cryptocurrencies will lead to higher prices for these assets. Mike McGlone, an exchange analyst at Bloomberg research division, noted that the amount of mined bitcoins (BTC) and ethers (ETH) is limited by the code. According to him, the transition of Ethereum to the Proof-of-Stake (PoS) algorithm will reduce the amount of ETH in the market more

Payment operator MoneyGram, a world leader in the development of digital P2P payments, has partnered with the Coinme exchange to add cryptocurrency trading tools to its mobile application. MoneyGram has announced the launch of a new service that allows consumers to buy, hold and sell cryptocurrencies through a mobile app. The new functionality will allow MoneyGram customers to transact in bitcoin (BTC), ether (ETH) and litecoin (LTC). The technical ability to buy, sell and store

The Reserve Bank of India (RBI) has launched a pilot program to test the wholesale digital rupee for secondary market settlement of securities. According to RBI, nine banks will take part in the project: State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, YES Bank, IDFC First Bank and HSBC. The regulator expects that the use of the digital rupee will increase the efficiency of interbank

The American financial conglomerate posted on LinkedIn the vacancy of a “global crypto policy manager” responsible for regulating and identifying “key risks from the fintech side.” Bank of America’s Cryptocurrency Management Department will be responsible for drafting amendments and commentaries to bills, preparing for presentations to legislators and regulators. The expert will be required to identify threats to fintech business models for Bank of America: “We are looking for a manager who will identify emerging