Russia’s largest commercial bank, Sber, launched a Bitcoin-linked bond product that’s now trading on OTC markets and may soon be listed on the country's top stock exchange.
Central Bank News
A central bank is the main entity responsible for a region’s money system. Some of the world’s prominent central banks include the eurozone’s European Central Bank, the United States Federal Reserve, the Bank of Japan, the Bank of England, the Reserve Bank of India and the People’s Bank of China. Central banks supervise a number of economic aspects regarding their respective regions, including money supply management.
A central bank digital currency, or CBDC, serves as a digital form of a region’s currency. A CBDC could possibly be called a central bank cryptocurrency, although because a CBCD is essentially a digital form of fiat currency, such assets are not decentralized and are not the same as the crypto assets native to the cryptocurrency industry.
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Singapore’s central bank has set a June 30 deadline for local crypto firms targeting overseas markets to halt operations or face steep penalties, including fines of almost $200,000.
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Bitcoin is down 2.7% over the last 24 hours after running into resistance above the $111,000 level, among other drivers, including significant long liquidations.
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The cryptocurrency market is down today due to renewed fears over stalled US-China trade talks, significant long liquidations, and a weak technical structure.
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From the BIS's Project Pine to Japan’s retail pilot, central banks are exploring how blockchain and smart contracts could enhance monetary policy.
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The New York Fed and the Bank for International Settlements are trialing smart contracts for tokenized monetary policy, aiming to let central banks act instantly in future financial systems.
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Stablecoins can streamline collateral management systems in TradFi, but financial institutions may need more straightforward regulatory guidelines for adoption.
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South Korea’s new Digital Asset Committee joins similar initiatives such as the Virtual Asset Committee launched in late 2024 by the Financial Services Commission.
2192 - Market Analysis
Bitcoin price closely tracks global liquidity, but with tightening credit and rising volatility, its cycle may be nearing a turning point.
8288 - Explained
Despite blockchain’s decade-long presence in finance, many industry veterans remain skeptical about its practicality and necessity.
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An estimated 65% of European citizens are seeking a single application to manage their banking, savings and cryptocurrency investment, according to Bunq’s research.
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New Bitcoin price highs could be driven by activity in US Treasurys and central banks boosting exposure to gold.
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The Swiss National Bank rejected calls to add Bitcoin to its reserves, citing stability and security concerns, despite mounting pressure from the local crypto industry.
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Bitcoin adoption may accelerate after the US Federal Reserve eased restrictions on banks engaging in crypto activities, opening the door for institutional participation.
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The Fed is rescinding its supervisory letter from 2022 that called for notification in advance of planned or ongoing crypto-asset activities.
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