ECB needs ‘globally coordinated regulatory action’ on crypto, says official

European Central Bank executive board member Fabio Panetta said lawmakers across the world must decide how to regulate cryptocurrencies based on potential risks. In a written statement for a speech to Columbia University on Monday, Panetta said global policymakers had made some progress in addressing regulatory frameworks on digital assets, but “not swiftly enough to […]

BoJ official says digital yen won’t be used to achieve negative interest rate

The Bank of Japan (BoJ) has said that its Central Bank Digital Currency (CBDC), the digital yen, will not be used to help attain negative interest rates.  The BoJ’s Executive Director, Shinichi Uchida made the announcement in his most recent public speech. “While the idea of using such a functionality as a means to achieve […]

Digital Yuan’s Backend Development Complete, Says Chinese Official

The former vice-chair of the People’s Bank of China’s Na­tional Coun­cil for So­cial Se­cu­rity Fund, Wang Zhong­min, announced that China has completed the backend architecture development of China’s central bank digital currency (CBDC). Wang made the announcement during the online 2020 Fin­tech Fo­rum organized by Ten­cent Fin­tech Re­search In­sti­tute and the Fin­tech 50 Fo­rum in […]

Minnesota Official Alarms Privacy Advocates With Contact Tracing Comments

At a press conference Sunday Minnesota Department of Public Safety commissioner John Harrington compared the methods police were using to identify protestors to those used to track COVID-19 cases.  We’ve “begun analyzing the data of who we have arrested, and begun, actually, doing what you would think as almost pretty similar to our COVID. It’s contact […]

Private Firms Can Boost Central Bank Digital Currencies, IMF Official Says

A senior figure at the International Monetary Fund (IMF) believes a digital currency backed by a central bank would open the door to much greater innovation in retail payments. Tommaso Mancini-Griffoli, the IMF’s deputy division chief in the Monetary and Capital Markets Department, said synthetic CBDCs – digital currencies backed by the liabilities of a […]

Virtual Consensus 2020 Kicks Off With ECB Official Discussing CBDC

Major cryptocurrency event, Consensus 2020, has officially kicked off in virtual mode. Consensus: Distributed, Coindesk’s first ever fully virtual conference, featured European Central Bank (ECB) key legal official, Yves Mersch, as the first speaker. On May 11, ECB board member Mersch delivered an exclusive keynote devoted to central bank digital currencies (CBDC), a central bank […]

Russian Ministry Adds Waves Enterprise Blockchain Platform to Official Registry

The Russian Ministry of Communications has added Waves Enterprise to the Unified Register of Russian Software for Computers and Databases. Documents published by the Russian Ministry of Communications on April 7 reveal that Waves Enterprise was added to the list and described as a “cloud-based distributed ledger service and service for virtualization and storage of […]