Belarus Central Bank is imposing new restrictions on foreign currency transactions in response to EU sanctions. Such a move could create complications for citizens and push them to seek alternatives such as cryptocurrencies.
The European Central Bank has just announced that it has reached the investigative stage of its digital euro project. If successful, the European Union would be the largest economic bloc to implement a Central Bank Digital Currency (CBDC) project. The progress made by the European Central Bank is a step towards a "CBDC era".
Monobank, a virtual bank founded in 2017 with over 2.5 million users, is doing everything possible to get the green light from Ukraine's National Bank (NBU) to allow a legal rollout of its first-ever bitcoin debit card before the end of July 2021. If approved, the new BTC debit cards will be available in the near future.
Decentralised Finance (DeFi) saw exponential growth in 2020 and 2021 promises to be yet another defining year. What’s particularly exciting is how DeFi has coincided with broader trends in banking and the rise of fintech 2.0 and neobanks.
India is leading the way in cryptocurrency investment over the past 12 months, despite tough regulatory threats in the country. Investment in digital currencies began to rise in the middle of last year (2020) as the Kovid 19 pandemic spread at a rapid pace.
Despite Africa being the poorest continent on earth with most people living below the poverty line, the continent is out to prove the world wrong when it comes to digital financial technology. The transaction volume of cryptocurrencies is growing steadily, and Nigeria is leading Central Bank Digital Currency (CBDC) innovation in Africa.
In a move to test its state-owned CBDC dubbed e-CNY, China has given away digital red envelopes embodying its prototype CBDC in Beijing and Shanghai to test the digital yuan (e-CNY). Reportedly, the Winter Olympics (WO) vendors will also allow e-CNY for payments.
There are several efforts onboard aiming at developing the decentralized ledger technology (DLT), blockchain and cryptocurrency industry in a Central Asian state and former Soviet republic, Uzbekistan.