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$135B Injection from European Central Bank Dwarfs BTC Market Cap

News After similar efforts from the U.S. Federal Reserve on March 10, the European Central Bank, or ECB, announced a $135 billion stimulus — a number that dwarfs Bitcoin’s (BTC) entire market cap. The ECB, in an effort to combat struggling markets, decided not to cut interest rates further. Instea..

Bitcoin Steadies as Bank of England Suddenly Cuts Rates to 11-Year Low

Markets News The United Kingdom’s central bank has followed the Federal Reserve in suddenly cutting interest rates — by the most since 2009. As various news outlets including the Financial Times reported on March 11, the Bank of England (BoE) said the move was in direct response to economic press..

Eastern Caribbean Stock Exchange to Trial Tokenized Security Offerings

News The Eastern Caribbean Securities Exchange (ESCE) plans to partner with Canadian-based digital asset marketplace provider Blockstation to pilot security token offerings (STOs), according to a Letter-of-Intent published on March 10. Blockstation is slated to provide a platform for listing, trad..

Central Bank Officials: DLT Can Improve the Global Financial System

News On March 7, three monetary and cryptocurrency experts discussed the challenges and prospects of central bank-issued digital currencies at the Massachusetts Institute of Technology (MIT) Bitcoin Expo 2020. The panelists acknowledged that distributed ledger technologies (DLT) could improve the ..

Countries That First Outlawed Crypto but Then Embraced It

Analysis As time progresses, the revolution of peer-to-peer digital currencies picks up speed. Now, countries like India and Iran, which previously had a harsh legal stance on cryptocurrencies, are warming up to the idea of adopting them. In India, for instance, the Supreme Court has struck down a..

Central Banks Are Exploring Blockchain — but For Their Own Reasons

Analysis Despite the interest shown in decentralized ledger technology by central banks, cryptocurrencies continue to be mistrusted by the traditional financial system. This has been made apparent from comments by Andrew Bailey, the upcoming governor of the Bank of England, when addressing members..

BIS: No Central Bank Digital Currencies Focus on Cross-Border Payment

News Cross-border payments do not appear to be a priority as countries all over the world to engage with their own digital currency projects, a new report says. While global governments are competing to become the first country in the world to issue a central bank digital currency (CBDC), no CBDC ..

Bank of England Warns Crypto Adoption May Impact Credit Creation

News Jon Cuncliffe, the deputy governor for financial stability of the United Kingdom’s central bank, the Bank of England (BoE), has warned that the emergence of a cryptocurrency economy may weaken or eliminate bank credit issuance. In a speech delivered to the London School of Economics on Feb. 2..

Brazil’s PIX Payments System Has the Same Spirit, but Not a Blockchain Structure

Analysis The Central Bank of Brazil made some waves last week with its new instant payment system. While not blockchain-based, the new system, dubbed PIX, nevertheless is imbued with some of blockchain’s core attributes. Money transfers have historically been slow, cumbersome and expensive. For ex..

Fed Coronavirus Rate Cut May Beat Bitcoin Inflation After 2020 Halving

Markets News The United States Federal Reserve will cut its interest rate target to compete with Bitcoin (BTC) post-halving, traders believe. As Reuters reported on Feb. 28, Wall Street traders already consider the likelihood of the Fed cutting rates to boost the economy over coronavirus to be mor..

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