Krishan Gopaul, senior analyst of the World Gold Council, revealed that central banks kept adding gold to their reserves during November. According to public records and reports from the International Monetary Fund (IMF), central banks added 44t of gold to their coffers, with the Central Bank of Turkey leading the charge by purchasing 25 tonnes. […]
The Nigerian central bank has given its go-ahead for the Africa Stablecoin Consortium (ASC) to pilot its cNGN stablecoin initiative in the financial regulator’s regulatory sandbox. The ASC asserts that the cNGN stablecoin can prove to be vital not only for the country’s payment rails but for the CBN’s digital currency as well. ASC’s Stablecoin […]
Nigerian fintech lawyer Senator Ihenyen said the new central bank guidelines which bar the withdrawal of cash from accounts operated by virtual asset service providers (VASPs) seem “reasonable and understandable.” The lawyer however believes an “outright” prohibition of cash withdrawals from VASPs operated accounts may “be in conflict with the CBN’s own cashless policy.” ‘Fraudulent […]
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Ethereum co-founder Vitalik Buterin praises Argetina’s moves, Brazilian banks introduce Microsoft privacy solutions in digital real tests, and Mi Primer Bitcoin graduates students in Cuba. Ethereum Co-Founder Vitalik Buterin Praises Argentina’s New Direction […]
Arthur Hayes, CIO of Maelstrom and former CEO of Bitmex, discussed the eventual demise of Tether and other stablecoin companies. Hayes explained that Tether’s business model, which consists of taking dollars and investing in treasuries, will eventually be cannibalized by big banks like JPMorgan when they get allowed to issue fiat-backed stablecoins. Arthur Hayes Warns […]