/cryptocurrency

News and resources on digital currencies, crypto assets and crypto exchanges worldwide.

Vid Hribar

From cash to crypto: Understanding the changing face of money

Vid Hribar - Strategic Partnerships and Ecosystems Analyst, RBI
Discussion
Next-gen estate planning: Time to embrace digital transformation
Kuldeep Shrimali

Kuldeep Shrimali

  Only 26% of Americans Have an Estate Plan.  https://www.thinkadvisor.com/2024/04/23/only-26-of-americans-have-an-estate-plan/
EBAday 2024: The future of CBDCs, tokenised deposits and stablecoin adoption
Jeremy Light

Jeremy Light

  "we must not forget the contribution that retail central bank money has made to monetary and financial stability." The BoE ties itself in knots trying to justify a retail CBDC - in the same speech the deputy governor admits that cash has dropped from around two-thirds of transactions twenty years ago to 14% in 2022. This drop has had no impact on monetary or financial stability and it demonstrates consumers have no preference for central bank money over commercial bank deposits (and I doubt most have any idea of the difference risk profiles of the two). In the past, cash was a source of instability as it provided a mechanism for a bank run, with depositors able to withdraw their savings en masse. Nowadays, if a bank is in trouble depositors are highly unlikely to withdraw cash at scale but instead transfer deposits electronically to other banks (as happened with Northern Rock in 2008) - the banking system may freeze up for a while as banks refuse to lend reserves to each other when large volumes of deposits are transferred between banks, but the total value of deposits in the banking system remains the same and locked-in without cash withdrawals. A retail CBDC would reintroduce this stability risk if depositors are able to withdraw deposits instantly out of the banking system electronically into a retail CBDC, causing a run on multiple banks. The interesting aspect of this speech is that a wholesale CBDC is gaining traction in the BoE's plans. A wholesale CBDC is in the sweetspot of a central bank and has some real benefits - hopefully the BoE will focus more on a wholesale CBDC and quietly kick the retail CBDC idea into the long grass. 
Turkish crypto chief starts 11,196-year prison sentence
A Finextra Member

A Finextra member

  So where did all the money go? Have Authorities recovered anything? After 11,196-years of inflation it will be worthless. Maybe he invested in an index tracker. He'll own everything in the universe in 11,196 years.  
Turkish crypto chief starts 11,196-year prison sentence
A Finextra Member

A Finextra member

  So where did all the money go? Have Authorities recovered anything? After 11,196-years of inflation it will be worthless.
Vladimir Krasik

CBDCs in fintech services: What are the risks and opportunities?

Vladimir Krasik - Global Head of Internal Treasury, Revolut