A senior official at the People’s Bank of China says the country’s digital currency is ready after five years of research.
Central Bank News
A central or reserve bank is a governmental financial institution that controls the state’s currency, interest rates and money supply. A central bank is often the regulator of the commercial banking system of its country and acts as a “lender of last resort” to the banking sector when banks find themselves unable to obtain sufficient liquidity without the help of the regulator. A central bank is supposed to be maximally independent from political interference, but usually is under limited control. The main goals of a central bank are high employment, price stability and economic growth, which are achieved with macroeconomic reforms, fights against inflation, capital investments and consulting activities. The main instruments of a central bank are control over interest rates, open market regulations, capital and reserve requirements and regulating currency exchanges.
- US Lawmakers to Visit Switzerland to Discuss Crypto, Facebook’s Libra
- $240M in Suspected Scheme Assets Moves in Four Bitcoin Transactions
- China: Shenzhen Special Economic Zone to Include Digital Currency Research
- Bitcoin Circles $10,400 as Altcoins Rally, XRP Posts 10% Gains
- Top-5 Crypto Performers: LINK, LEO, BCH, ETC, BSV, OKB*