Recap
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
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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.
- Markets News
Bitcoin completely contradicts what the European Central Bank warned about in late 2022.
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The central banks of Italy and South Korea announced a memorandum of understanding in the development and deployment of CBDCs.
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Bitcoin price is down today as U.S. regulators crack the whip on centralized exchanges and BTC retests the key $37,500 level.
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The Solomons join tiny island nations worldwide at the forefront of CBDC development.
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The crypto market is down today as regulatory enforcement against the sector reaches a head and short-sellers jockey for the lead in liquidations.
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From legal issues to hackers, launching a CBDC is fraught with risks, and BIS has a big list of them to consider.
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NITDA chief Kashifu Inuwa Abdullahi said it’s crucial to take proactive measures to harness AI benefits and mitigate threats.
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According to MAS, speculative cryptocurrency trading is partly fueled by unverified success stories, celebrity endorsements and FOMO on good returns.
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The challenge of replacing Argentina’s peso with the United States dollar (and potentially Bitcoin) will be great, but it’s not insurmountable.
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Milei won over 55% of the votes, with 99% of the votes counted in the run-off presidential election.
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The answer again is regulation, although this time, the suggested regulation looks a lot like central bank co-option.
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The latest initiatives by the Monetary Authority of Singapore aim to develop foundational capabilities to scale tokenized markets.
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The group, “Bitcoin Argentina,” previously rejected the idea that regulation was needed in the cryptocurrency industry.
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Banks stressed customer accounts “remain secure,” and balances will be updated as soon as the issue is resolved.
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