Market updates

Head of African Regional Central Bank Calls for Creation of Digital Currency

Coins Legend July 25, 2022 0

The head of the Bank of Central African States (BCAS), Herve Ndoba, has told the regional central bank’s board that it must create a common digital currency which will be used by six countries belonging to the Central African Monetary Union (CAMU). Ndoba reportedly wants the BCAS to establish a

News

Kenyan Activists Say Cryptocurrencies Have the ‘Potential to Create New Ways for Young People to Earn’

Coins Legend July 24, 2022 0

According to some Kenya-based activists, raising funds through cryptocurrency and non-fungible tokens (NFT) sales is not only faster but less costly as well. The activists added that digital currency also has the “potential to create new ways for young people to earn, spend, save and send money.” Traditional Funding Channels Drying Up After the Covid-19 […]

Regulation

Reserve Bank of India Is Working on ‘Phased Implementation’ of Central Bank Digital Currency

Coins Legend July 21, 2022 0

India’s central bank, the Reserve Bank of India (RBI), is working on a “phased implementation of a central bank digital currency (CBDC) in both wholesale and retail segments.” Necessary amendments have been made to the RBI Act, 1934 to allow the central bank to pilot and issue a digital currency. India’s Central Bank Digital Currency […]

Finance

Iran Aims to Roll Out Pilot Version of Crypto Rial Within 2 Months

Coins Legend June 26, 2022 0

The government in Tehran is taking steps in preparation of the launch of Iran’s new digital currency, referred to as the crypto rial. The monetary authority of the Islamic Republic hopes to initiate the pilot phase of the project within the next two months. Crypto Rial to Be Different From Cryptocurrencies, Central Bank Says Iranian […]

News

Digital Real Will Be Used by Banks in Brazil as Collateral to Issue Their Own Stablecoins

Coins Legend June 7, 2022 0

The Brazilian central bank digital currency (CBDC), the digital real, will be more of a wholesale asset instead of a public retail-focused token, according to statements from the president of the Central Bank of Brazil, Roberto Campos Neto. Campos Neto indicated that private banks in the country will be able to issue their own stablecoins […]

News

Layoffs Spread Across the Blockchain Industry as Bear Market Cycle Impacts Crypto Firms

Coins Legend June 4, 2022 0

As digital currency prices have slid significantly in value during the past few months, the bear market cycle is starting to take its toll on the crypto industry’s workforce. On June 2, Gemini’s co-founders the Winklevoss brothers revealed the company would lay off 10% of its employees. The same day, one of the Middle East’s […]

News

Digital Yuan Giveaway: Shenzhen Residents to Receive 15 Million Yuan in Digital Currency

Coins Legend April 29, 2022 0

The Chinese government is giving away 15 million yuan in central bank digital currency (CBDC) to 130,000 residents of Shenzhen this Friday. The digital yuan can be used at nearly 5,000 stores with no minimum purchase required. Digital Yuan Pilot Continues China’s central bank, the People’s Bank of China (PBOC), continues to test its central […]

News

Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments

Coins Legend April 18, 2022 0

Russia’s recently revised bill “On Digital Currency” limits crypto purchases for non-qualified investors while providing legal ground for some cryptocurrency payments, according to local media. The draft law, proposed by the Russian finance ministry, also introduces strict requirements for platforms operating with digital assets. Russian Citizens Who Don’t Pass Test to Buy

News

US Senator Cruz Introduces Bill to Prevent Federal Reserve From Using Digital Currency as Surveillance Tool

Coins Legend April 2, 2022 0

U.S. Senator Ted Cruz has introduced legislation to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals and competing with the private sector. The senator from Texas warned that not only would this CBDC model centralize financial information, leaving it vulnerable to attack, but it could also be used […]