Malaysian finance minister lim guan eng recently affirmed that those looking to issue a cryptocurrency in the asian nation must go through the central bank, the bank negara malaysia(bnm).
The fintech chief at the Monetary Authority of Singapore(MAS), the country's de facto central bank, has said that bitcoin is unlikely to cause a global financial meltdown similar to the Lehman Brothers bankruptcy in 2008.
Given that the country's central bank, the Reserve Bank of India(RBI), has openly praised blockchain technology on several occasions, it should perhaps come across as no surprise that public sector banks are also aggressively adopting the technology.
Earlier this month, Norwegian central bank Norges Bank issued a working paper in which they consider developing a CBDC as a supplement to cash to“ensure confidence in money and the monetary system.”.
In the latter part of the announcement, the central bank warned the general public against“so-called legal digital currency issuance” and individual institutions fraudulently launching“DC/EP” or“DCEP” in the name of the People's Bank of China.
Meanwhile, in Japan, the BOJ, as the central bank, and the Financial Services Agency, as the primary financial regulatory authority, are making coordinated efforts to promote financial system stability by making contributions in their respective fields of responsibility.
As China receives more dollars from exports and foreign investment than it spends on imports and Chinese investment abroad, the People's Bank of China, the central bank, is forced to buy those excess dollars to maintain the value of the yuan.
One of the reasons why the dollar is adopted as the primary currency for foreign transactions by all nations is because it is backed by the Federal Reserve, the central bank of the most powerful nation on earth.
For example, the United Kingdom experienced repeated financial crises in the latter half of the 19th century. Its central bank-- the BOE-- was expected to play the role of preventing disturbance in the financial system as a whole by providing liquidity as a"lender of last resort" to financial institutions on the verge of a crisis.
As Bitcoin and other cryptocurrency projects are already forcing banking incumbents to work more efficiently, the Federal Reserve, the central bank in the U.S., is reportedly“seriously considering” to develop a new and faster payments system for domestic use in the U. S.
Against this background, the Federal Reserve, or the central bank of the United States, decided on a reduction of its target interest rate by 0.5 percentage points at an unscheduled meeting of the FOMC at the beginning of the year, followed by an additional reduction of 0.5 percentage points at the end of January 2001.
Iranian cryptocurrency has been developed under private blockchain infrastructure and it cannot be mined… The issuer is[the] Central bank of Iran and the volume of issuance depends on the bank's decision.”.
実際、FRBは世界で最も強力な中央銀行である。
FED is the most powerful central bank in the world.
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