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Ex-PBoC Boss: Facebook’s Libra Will Work Better if it’s in IMF Custody

A former head of China’s central bank has come out to say that Facebook’s Libra would be better served under the control of the International Monetary Fund (IMF). Facebook’s proposed digital payment platform continues to draw criticism from financial regulators around the world. Libra Would…

Turkey working on digital currency; pilots expected to finish by 2020-end

Turkey is working on to issue a blockchain-based national digital currency. Resmi Gazete, Turkey’s only official journal that publishes new legislation and official announcements of the country, published a document Monday, which says that the first trials of digital lira should be conducted and finalized…

OSC Commissioner Debunks Arguments Against Bitcoin, Green-Lights Bitcoin Fund

A commissioner of the Ontario Securities Commission (OSC) has debunked the arguments against bitcoin used to deny the public offering of The Bitcoin Fund. Among others, the commissioner rules that bitcoin is neither illiquid nor more susceptible to manipulation than other commodities, real volume and…

23 Central Banks Divulge Their Digital Currency Requirements

Twenty-three leading central banks participated in an in-depth survey on their digital currency developments and requirements, including fungibility, convertibility, and availability. They also discussed the timeframe for issuing consumer-ready central bank digital currencies and divulged their greatest concerns about implementing them. Also read: China Ranks…

Korean Presidential Committee Pushes to Legalize Crypto

A South Korean presidential committee is pushing for the government to establish legal status for cryptocurrency to stay competitive globally. So far, the government’s policies have been risk-focused to curb speculation, which the committee says must change. Also read: China Ranks 35 Crypto Projects as…

Avalon Mining Rig Maker Canaan Files for $400M IPO on Nasdaq

Mining rig manufacturer Canaan has filed for an IPO with the U.S. Securities and Exchange Commission to raise $400 million on the Nasdaq Global Market. Prior to this filing, the company had also attempted to go public in Hong Kong and China. Credit Suisse and…

China Ranks 35 Crypto Projects as President Xi Pushes Blockchain

China has been on a roll with a series of crypto-related announcements. President Xi Jinping’s speech to accelerate the development of blockchain technology in China was followed by the passing of a cryptography bill. Meanwhile, China’s Center for Information and Industry Development has continued to…

Indian Crypto Trading Volumes Accelerate on Positive Sentiments

Cryptocurrency trading volumes in India have accelerated despite regulatory uncertainty and banking restrictions imposed by the Reserve Bank of India (RBI). Global trading platforms and service providers have also been expanding their operations to serve Indian users. Also read: Mistakes Crypto Owners and Traders Should…

Mistakes Crypto Owners and Traders Should Avoid

There are many pitfalls one can easily get caught in when using, storing, investing or trading cryptocurrencies. While some mistakes could cost you a fortune, most of the common ones can easily be avoided. Bitcoin.com has produced a video featuring the top seven deadly mistakes…

McKinsey: Majority of Banks May Not Be Economically Viable

Management consulting firm McKinsey & Company has published a global banking review and found that a majority of banks worldwide may not be economically viable. More than half of them still do not generate their cost of equity 10 years after the crisis and may…

State Bank of India Chief Says Crypto Regulation Is a Must

The chairman of the State Bank of India (SBI) has spoken in favor of cryptocurrency regulation in an interview. He believes that it is necessary to regulate cryptocurrencies. Last week, the chairman attended IMF meetings in Washington, D.C., with Finance Minister Nirmala Sitharaman. Also read:…