Brazil’s Central Bank Unveils Blockchain Data Exchange Platform for Regulators

Brazil’s central bank has unveiled details of a newly-developed blockchain platform that will be used to facilitate information exchange between the country’s financial regulators. Dubbed ‘Pier’, the blockchain was developed by the Banco Central do Brasil (BCB)’s own IT department and will be used to share data securely between the central bank and other domestic The post Brazil’s Central Bank Unveils Blockchain Data Exchange Platform for Regulators appeared first on CCN

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‘A Moral Hazard’: Bank of Korea Opposes Central Bank Digital Currency

The Bank of Korea (BoK) has revealed it is against the idea of issuing a central bank digital currency following a feasibility review. South Korea’s central bank isn’t keen on issuing a central bank digital currency (CBDC) citing concerns related to its impact on the basic mechanics of monetary policy and implementation as well as The post ‘A Moral Hazard’: Bank of Korea Opposes Central Bank Digital Currency appeared first on CCN

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Bitcoin Isn’t Currency, Can’t Replace Dollar, Says Incoming New York Fed Chief

Bitcoin and other cryptocurrencies cannot replace the U.S. dollar because they fail the basic test of what a currency should be. That’s what John Williams, the incoming head of the Federal Reserve Bank of New York, insists. “Cryptocurrency doesn’t pass the basic test of what a currency should be,” Williams said on April 20, as reported … Continued The post Bitcoin Isn’t Currency, Can’t Replace Dollar, Says Incoming New York Fed Chief appeared first on CCN

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The Public Will Decide Cryptocurrencies’ Future: Malaysia’s Central Bank

The post The Public Will Decide Cryptocurrencies’ Future: Malaysia’s Central Bank appeared first on CCN The head of Malaysia’s central bank has firmly stated that the fate of cryptocurrencies in the country depends on the public adopting them, adding it would neither ban nor recognize cryptocurrency. Speaking at the 40th-anniversary dinner of the Harvard Business School Alumni Club of Malaysia this month, Bank Negara governor Muhammad Ibrahim had some noteworthy The post The Public Will Decide Cryptocurrencies’ Future: Malaysia’s Central Bank appeared first on CCN

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We’ll Study Bitcoin ‘Very Closely’: Philippine Central Bank

The post We’ll Study Bitcoin ‘Very Closely’: Philippine Central Bank appeared first on CCN A senior official from the Philippine central bank has urged caution among retail investors of bitcoin despite the bank’s generally accepting stance on cryptocurrencies. A year ago, bitcoin price struck $1,000 on January 1, 2017, and went on a meteoric rise to scale an all-time high near $20,000 in December due to wider acceptance and The post We’ll Study Bitcoin ‘Very Closely’: Philippine Central Bank appeared first on CCN

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