Reserve Bank of Australia Favors Hands-off Approach for Bitcoin Regulation
The Reserve Bank of Australia (RBA) will not intervene in oversight of digital currencies such as bitcoin at the moment, The Australian Business Review reports. In reply to an Australian Senate inquiry, RBA's representatives said in their opening statement that the limited use of the currency had no discernible impact on competition or risk to the....
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The second most populated country in the world is stepping up to the plate to consider Bitcoin and provide this digital, decentralized cryptocurrency an opportunity to flourish prior to regulating. With a population of over 1,232,530,000, India is a hotspot of potential for growth of the Bitcoin currency and community. Right on the top of the list of the most tech-oriented nations, India will take a leap forward should the Reserve Bank of India truly take a hands off approach towards the Bitcoin currency. As the Indian Rupee is calling for attention with higher rates of inflation, the....
Reserve Bank of Australia is researching the potential benefits of launching a central bank digital currency. The monetary authority released a white paper outlining its goals and invited interested parties to participate with proposals and suggest pilot projects. Central Bank of Australia to Pilot CBDC Until Middle of 2023 The Reserve Bank of Australia (RBA) has set out to explore use cases for a digital version of the Australian dollar. It’s collaborating on the project with the Digital Finance Cooperative Research Centre (DFCRC), a research program funded by the government and....
The monetary authority in Australia is beginning research into the potential economic benefits of issuing a central bank digital currency. Within the project, the regulator hopes to identify use cases and intends to develop a limited-scale pilot. Central Bank of Australia Working on Digital Currency Program The Reserve Bank of Australia (RBA) announced the launch of a research program to explore the benefits of issuing a central bank digital currency (CBDC) for the country’s economy. The project, expected to take about a year, will be realized together with the Digital Finance....
The Reserve Bank of Australia (RBA) has indicated that it is not in favor of regulating bitcoin and other digital currencies, stating that "it is currently unlikely that any benefits of regulation would outweigh the potential costs". The statements, issued on 7th April, are the latest from Australia's central bank, which went so far as to propose that coordinated cross-border regulation is necessary given bitcoin's potential to disrupt the global remittance industry. The RBA suggested it could seek cooperation from the Bank for International Settlements, an international organisation of....
India’s central bank, the Reserve Bank of India (RBI), has reportedly told the central board of directors that it favors a complete ban on cryptocurrencies, stating that a partial ban will not work. The central bank reiterates that it has serious concerns regarding crypto. Meanwhile, the Indian government is reportedly making additional changes to the crypto bill. RBI Wants a Blanket Ban on Crypto, Says a Partial Ban Won’t Work The Reserve Bank of India (RBI) held the 592nd meeting of the central board of directors Friday under the chairmanship of Governor Shaktikanta Das.....