Tag: Central Bank

South Africa’s Central Bank Addresses Illicit Money Transfers in Bitcoin

Governments around the globe are trying to regulate cryptocurrencies to the best of their abilities. Particularly where criminal use cases of Bitcoin are concerned, some new rules need to be introduced. The South African central bank is currently working on a way to prevent the evasion of currency controls. Another Central Bank Focusing on Bitcoin According to the Reserve Bank of South Africa, cryptocurrencies are used on a “regular basis” …
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Iran Forges Ahead with Its Experimental National Cryptocurrency

Various central banks have shown a keen interest in creating their own digital currencies. Doing so is very different from drafting a whitepaper about it. It now seems most countries have put those plans on ice indefinitely, though Iran is an exception. That nation has decided to experiment with a new cryptocurrency, even though the trading of actual cryptocurrencies such as Bitcoin is officially banned in the country. Iran Takes a Contrarian Step …
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St. Louis Fed Sees No Point in Central Banks Creating Monopoly Cryptocurrencies

In the world of cryptocurrency, there is a fair amount of competition as of right now. Until very recently, it seemed central banks would get in on the action as well, yet they have decided not to pursue this option any longer. A new report by the St. Louis Fed states that cryptocurrency developers are “welcome to create anonymous forms of money”. It’s a surprising line in an otherwise standard report. Anonymous Cryptocurrencies …
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USDX Aims to Create an Algorithm-Based Stablecoin

Stablecoins are very popular right now. These digital currencies are usually pegged to fiat currencies or natural resources, which makes them less prone to volatility. USDX is one of the newer projects in this regard, and it may actually replace central banks in the future. We will have to wait and see how this new venture plays out, but it has a lot of merit on paper. Does USDX have a …
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