Reserve Bank News

Brian Armstrong has reportedly discussed potential policy issues related to cryptocurrencies with US President-elect Donald Trump.

Meanwhile, altcoins may flounder unless the United States passes rules favoring crypto adoption, the asset manager said.

This development aligns with the city’s regulatory goals and represents a forward-thinking approach to integrating traditional banking with cutting-edge financial technologies.

The Reserve Bank of Australia has wrapped up its CBDC pilot program and outlined four key areas that could be improved by the introduction of central bank-issued digital currency.

The hedge fund manager instead wants to see an “inflation-linked coin” be brought to the masses which would serve to ensure consumers secure their buying power.

This marks the second “Big Four” bank in Australia to launch an Australian-dollar pegged stablecoin in a bid to boost the digital economy.

The key objectives of the project are to identify and understand innovative business models, use cases, benefits, risks and operational models for a CBDC in Australia.

The Digital Dollar Project’s Technical Sandbox Program is set to begin in October, aiming to provide a clearer understanding of the ramifications of a United States CBDC.

The banking authority said avoiding risk by cutting off crypto-involved clients may pose a “threat” to financial integrity.

South Africa’s Reserve Bank will regulate cryptocurrencies as financial assets, and new laws are expected over the next 12 months.

The South African Reserve Bank stated further work would be undertaken to study the findings from the project and used to inform policy and regulatory responses to DLT and CBDCs.

The report by PwC shows that 80% of central banks are considering or have already launched a CBDC.

Following Treasurer Josh Frydenberg’s “payments and crypto reform plan,” the RBA has published a report exploring DLT tech and wholesale CBDC issuance.

Bitcoin price is down but crypto investors still have a plethora of yield opportunities thanks to DeFi.

The Australian Prudential Regulation Authority has proposed a regulatory framework that would have it oversee digital wallets, including Calibra.