Bitcoin price is down today as a swift reversal in market sentiment triggered a wave of liquidations.
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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The entire crypto market tumbled today as Bitcoin price dropped below $63,000 and large-cap altcoins sold off.
10872The Major Payment Institution license will allow OKX to facilitate multiple payment services and exceed the transaction volume limitations set by Singapore’s financial regulator.
6644Federal Reserve Chair Jerome Powell says the U.S. is a “long way” from launching one, and even if it did, it wouldn’t spy on users.
3115Stock prices for the embattled lender have slumped 83% since the beginning of 2024, hitting an all-time low this week before rebounding.
6514The Federal Reserve’s plan for digital dollar issuance in the United States was met with a roadblock after five senators filed legislation demanding a ban on CBDCs.
11631CBDCs have some benefits but also many drawbacks, which has sparked debate about whether adopting them is a good idea.
1538The digital Turkish lira is set to be an intermediated CBDC with self-sovereign identity and offline transfers.
7037Banks continue to raise objections that have already been accounted for in digital euro design, the authors say.
21308The U.K. government received over 50,000 responses to its consultation paper on the formation of a digital pound.
1937Reserve Bank of New Zealand Governor Adrian Orr jested during a parliamentary committee meeting on Monday, but Bitcoiners argue there’s truth to his joke.
8799Reserve Bank of New Zealand governor Adrian Orr said Bitcoin and stablecoins are neither a means of exchange nor a store of value.
2767Powell said the Federal Reserve needs “more confidence” in the U.S. economy before it can begin cutting rates.
7376Local reports state that Bureau De Change operators announced the shutdown of operations in Abuja due to the unavailability of U.S. dollars.
19358The price of Bitcoin dipped 2.5% after the Fed pressed pause on interest rates and dampened any hope of rate cuts next month.
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