Sentences with phrase «as central bank digital currencies»

«It is a very good step forward in terms of going for more ambitious projects such as central bank digital currencies in the future.»

Not exact matches

For starters, here's an overly simplified explanation of Bitcoin: It's a digital currency (there are more than 800 now) that isn't controlled by a central authority such as a government or bank.

As India's central bank considers what to do about digital currencies, Bitcoin businesses in India are suspending operations.

The technology was first developed to underpin digital currency bitcoin as it removes the need for a central bank or authority to police the currency.

The bank official described state - issued cryptocurrency as another possible solution to this problem, opining that, «Central banks around the world are examining (the use of digital currencies) so we should as well.»

The intensification of economic reform and innovation — including research and development of the central bank's digital currency — as well as «currency issuance» and «management methods.»

As regulators squash bitcoin exchanges and token offerings, officials from the PBoC maintain interest in creating a central bank - issued digital currency.

The Bank recommends a comprehensive review of the economic impact of central bank digital currency issuance as it predicts that digital currencies will compete with commercial bank deposBank recommends a comprehensive review of the economic impact of central bank digital currency issuance as it predicts that digital currencies will compete with commercial bank deposbank digital currency issuance as it predicts that digital currencies will compete with commercial bank deposbank deposits.

Bank of England governor Mark Carney said this week that the G20 needed to consider how easily digital coins should be converted into other central - bank issued currencies, as well as the role of anonymity, as «a lot of the underlying use of these currencies has been illicit activity&raqBank of England governor Mark Carney said this week that the G20 needed to consider how easily digital coins should be converted into other central - bank issued currencies, as well as the role of anonymity, as «a lot of the underlying use of these currencies has been illicit activity&raqbank issued currencies, as well as the role of anonymity, as «a lot of the underlying use of these currencies has been illicit activity».

The central bank's governor, who is expected to retire soon, said that the PBoC is taking a look at digital currencies as it searches for less costly, more convenient modes of payment.

Despite the rumors for a centralized digital currency, China's central bank governor Zhou Xiaochuan said that the country, which still does not recognize Bitcoin as a legitimate payment method, is not in a hurry to issue its own digital currency.

««Virtual currencies» means a digital representation of value that is neither issued by a central bank or a public authority, not attached to a legally established currency, which does not possess the legal status of currency or money, but is accepted by natural or legal persons as a means of exchange or for other purposes, and can be transferred, stored or traded electronically.

«The wild fluctuations of the digital currencies along with competitive business activities underway via network marketing and pyramid scheme have made the market of these currencies highly unreliable and risky,» the central bank was quoted as saying in a Farsi report by the Iran newspaper's website.

March, Igoche said that if digital currency not backed by any physical commodity such as gold or precious stone, are not classified as currency or coins issued by CNB or Central Bank of any other country.

As the digital currency industry begins its recovery from the Christmas - time slump, bearish news emerges from Poland, suggesting that the central bank and top financial regulator are backing an...

As digital currencies emerge, therefore, the preference for decentralised payment systems would ostensibly render the use of a banking intermediary redundant, which raises pertinent questions regarding the role — or lack thereof — of central banks.

China's Central Bank Governor Says Digital Currencies Will Replace Cash, Regulated as Legal Tender

The BIS acknowledges that this could have some repercussions on the conduct of monetary policy and of its transmission mechanism (as such digital currency would become a potentially widely - held asset and a liability on the central bank's balance sheet).

Similarly, it's been speculated that the PBOC may introduce a national digital currency as a sort of gateway to cryptocurrency: This would allow the central bank to better track the flow of funds in and out of bitcoin in order to counter money laundering and capital flight.

«As they do with platform - based digital currencies, central banks are studying and closely monitoring decentralized digital currencies such as Bitcoin,» the bank saiAs they do with platform - based digital currencies, central banks are studying and closely monitoring decentralized digital currencies such as Bitcoin,» the bank saias Bitcoin,» the bank said.

While the BBVA report talks in general about central bank digital currency, it refers repeatedly to distributed ledger technology as the mechanism for managing this currency.

At a high level, cryptocurrencies (like bitcoin) are digital currencies that operate independently of a central bank like traditional sovereign currencies such as the Canadian dollar.

However, the central bank is still hesitant on allowing cryptocurrency trading as explained by the chairman of State Duma Committee for Financial Markets, Anatoly Aksakov, «The central bank is against the legalization of this type of digital currency, since in this case, citizens can start actively investing in crypto - tools, not taking into account possible risks.»

After this round of virtual money markets supervision, we expect under the auspices of the Chinese central bank to launch our own sovereign digital currency as soon as possible to help maintain China's leadership in the development of global digital finance.»

Rapid changes in the landscape of the payments industry along with factors such as emergence of private digital tokens and the rising costs of managing fiat paper / metallic money have led central banks around the world to explore the option of introducing fiat digital currencies.

«We have started looking at virtual currency from a long - term standpoint, as central banks could start issuing digital currencies in the future.

«Rapid changes in the landscape of the payments industry along with factors such as [the] emergence of private digital tokens and the rising costs of managing fiat paper / metallic money have led central banks around the world to explore the option of introducing fiat digital currencies,» the central bank explained, adding:

As economic disruption continues to have a chilling effect on cash economies, digital currencies, which enable secure, peer - to - peer payments without the interference of central governments or banks, are gaining increased attention.

China's central bank is conducting research to issue the country's own sovereign digital currency, a move in parallel with similar efforts ongoing in Russia, even as the government has doubled down on banning the use and exchange of bitcoin and other cryptocurrencies.

I think all central banks should look into this technology, and look into adopting existing digital currencies like Bitcoin as part of their basket of reserve currencies.»

Digital currencies, such as bitcoin, are largely self - regulated and not backed by a central bank, making them popular as an alternative to fiat currency.

He said there should be a distinction between digital currencies, which were being studied and developed by authorities such as the Chinese central bank, and digital tokens such as bitcoin.

The BIS — often known as the central banks» central bank — used its quarterly report to discuss cryptocurrencies such as Bitcoin and Ethereum, saying that central banks must consider whether or not to issue their own digital currencies in the near future.

The European Central Bank (ECB), however, is pushing for tighter control over movements of digital currencies as part of a broader crackdown on money laundering, while recognizing the jurisdictional complexities in regulating an asset with no boundaries.

Uruguay In Process To Launch Its Very Own Digital Currency Which Simply Can not Be Labelled As Bitcoins Central Bank of Uruguay (BCU) has decided to impart a digital feather to the cap of its fiat currency - the Uruguayan peso starting from 3 NovembeDigital Currency Which Simply Can not Be Labelled As Bitcoins Central Bank of Uruguay (BCU) has decided to impart a digital feather to the cap of its fiat currency - the Uruguayan peso starting from 3 NovembCurrency Which Simply Can not Be Labelled As Bitcoins Central Bank of Uruguay (BCU) has decided to impart a digital feather to the cap of its fiat currency - the Uruguayan peso starting from 3 Novembedigital feather to the cap of its fiat currency - the Uruguayan peso starting from 3 Novembcurrency - the Uruguayan peso starting from 3 November 2017.

Other central banks, notably the UK's Bank of England, have been actively exploring the technology for use as a basis for a new kind of digital currency.

RBI's interest in their own cryptocurrency is due to the «rapid changes in the landscape of the payments industry along with factors such as emergence of private digital tokens and the rising costs of managing fiat paper / metallic money,» which they cite as the impetus for central banks around the world to introduce «fiat digital currencies.»

Russian authorities have been elaborating legislation on cryptocurrency, with Russian Central Bank's (CBR) Deputy Governor Olga Skorobogatova announcing that authorities would present draft legislation on taxation, control and accounting related to virtual currencies as a digital good.

There is no country in the world that allows its citizens to use digital currencies as money not issued by the Central Bank.

Nigerians have yet again been warned by the Nigerian Deposit Insurance Corporation (NDIC) of the risk of doing trade using digital currencies as they have not been authorised by the Central Bank of Nigeria (CBN).

No Central Bank will accept digital currency as a substitute for its national currency or part of its monetary system when it is not able to control it.

Malaysia has begun work on a regulatory structure for digital currencies such as bitcoin, its central bank governor said on Wednesday, aimed at further securing Malaysia against money - laundering and terrorism financing.

The Central Bank's digital currency will serve the purpose of handling as well as regulate the fiat currency.

India's central bank is reportedly considering the introduction of a «central bank digital currency» as it bans regulated entities such as banks from dealing in cryptocurrencies with individuals or businesses.

Last month, the director of the central bank's Digital Currency Research Institute pitched the idea of a state - run cryptocurrency as a means to stabilize the yuan.

In the Bitcoin news today — Venezuelan authorities are cracking down on Bitcoin mining facilities and are focused on «weakening» these mining operations within the region; Ethereum at a crossroad as corporate interest grows; Last week at the World Economic Forum 2017 Annual Meeting in Davos, Switzerland, the technology firm Bitfury announced the formation of the Global Blockchain Business Council (GBBC); Cryptoseed Adds Security to Your Bitcoin Recovery Seed; Paxful has unleashed their new «Bitcoin Kiosk» widget allowing anyone to buy bitcoin in 300 different ways; A working group within the US central bank believes digital currencies and distributed ledgers could come to have a significant impact on how its citizens and businesses conduct payments — 60 page report.

The Governor of the central bank made it clear during the congress that digital currency is inevitable and have a higher likelihood to replace paper money as reported by Bloomberg.

«I think this year will be the first year we start to see central banks start to hold digital currencies as part of their balance sheet.

As Ethereum evolves into a more flexible and functional network, it would allow central banks such as the People's Bank of China (PBoC) and Bank of Russia to consider the actual possibility of building serious applications and even national digital currencies on top of the Ethereum protocoAs Ethereum evolves into a more flexible and functional network, it would allow central banks such as the People's Bank of China (PBoC) and Bank of Russia to consider the actual possibility of building serious applications and even national digital currencies on top of the Ethereum protocoas the People's Bank of China (PBoC) and Bank of Russia to consider the actual possibility of building serious applications and even national digital currencies on top of the Ethereum protocol.

As for tightening the regulations, the ECB (European Central Bank) supported EU lawmakers» directive require digital currency exchanges to license or register, including wallet providers.