A year on, El Salvador’s bitcoin experiment is stumbling

CONCHAGUA, El Salvador, Sept 7 (Reuters) – A year after El Salvador adopted bitcoin as legal tender, the area where the world’s first cryptocurrency city was meant to be built – a circular metropolis powered by a volcano – is still dense jungle. President Nayib Bukele had promised that “Bitcoin City” would be a tax … Read more

Crypto assets need new rights in law, UK legal body says

A stock graph is seen with a representation of bitcoin in this picture illustration taken taken March 13, 2020. REUTERS/Dado Ruvic Register now for FREE unlimited access to Reuters.com Register LONDON, July 28 (Reuters) – Britain should create a new category of private property law for digital assets like cryptocurrencies which are being used to … Read more

Explainer: EU agrees rulebook for ‘Wild West’ crypto markets

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register LONDON, July 1 (Reuters) – The European Union on Thursday reached a provisional deal on the world’s first set of comprehensive … Read more

Basel revises bank crypto capital plan to include blockchain

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register LONDON, June 30 (Reuters) – Banks should take a conservative approach to setting aside capital to cover risks from “unbacked” … Read more

Crypto fears now materialising, central bank body BIS says

LONDON, June 21 (Reuters) – Recent implosions in the cryptocurrency markets indicate that long-warned-about dangers of decentralised digital money are now materialising, the Bank for International Settlements has said. The BIS, the global umbrella body for central banks, sounded the warning in an upcoming annual report, in which it also urged more effort in developing … Read more

Kenya, Nigeria central bankers criticise crypto, tout digital currencies

June 10 (Reuters) – Cryptocurrencies pose risks to financial stability, but central bank digital currencies could solve problems such as bringing the poor into the financial system or cutting transaction costs, Kenyan and Nigerian central bankers said on Friday. Nigeria’s eNaira digital currency, introduced last October, is a boon for inclusion, Kingsley Obiora, deputy governor … Read more