Report: India’s Central Bank is Against Bitcoin as Legal Tender
Merely weeks after cautioning residents that bitcoin companies weren’t authorized or licensed to operate in the country, India’s central bank is reportedly not including bitcoin under the purview of regulations for digital payments. In essence, the cryptocurrency will not be legitimized as a legal form of payment or settlement in an economy which is the world’s largest receiver of remittances, anytime soon. Digital payments and financial technology (Fintech) solutions have caught on rampantly amongst the Indian society in recent times, particularly after a sweeping, unprecedented cash....
Related News
The central bank said “for the time being” Bitcoin was not regulated in the country, but it was exploring the feasibility of introducing a CBDC. The Central Bank of Honduras, or BCH, addressed rumors regarding the country potentially adopting Bitcoin as legal tender like its neighbor El Salvador — and the answer seems to be negative.In a Wednesday statement, Honduras' central bank said “for the time being” Bitcoin (BTC) was not regulated in the country and not recognized as legal tender in many others. The BCH reiterated its authority under Honduras' constitution that it was the only....
The Bank of Spain, the central bank of the country, criticized the adoption process El Salvador chose when declaring Bitcoin legal tender last month. In a report titled “The role of crypto assets as legal tender: the example of El Salvador,” the bank examines several pain points the country encountered while applying its bitcoin strategy, and raises concerns about how some actions have been taken with little transparency.
Bank of Spain Scrutinizes El Salvador’s Bitcoin Bet
The Bank of Spain issued a report scrutinizing and reflecting upon the entrance of El....
On March 23, Honduras’ central bank issued a clarification on crypto assets such as bitcoin, and noted that digital currencies are not legal tender or regulated in the country. The announcement, posted via Honduras’ central bank official Twitter account, comes after lots of speculation about the Honduran president, Xiomara Castro, allegedly going to declare bitcoin legal tender in the country. Despite Rumors, Honduras’ Central Bank Says Bitcoin and Crypto Assets Are Not Legal Tender in the Country In recent times, there’s been a lot of rumors that claimed the....
A lot of people had their bets on Honduras being the next country to declare bitcoin legal tender. Apparently, they lost. The country’s Central Bank issued an official statement in which they affirm their authority as the “sole issuer of legal tender banknotes and coins.” They also announce their intention of going the CBDC route […]
A new report has claimed the Central African Republic, which became the first country in Africa to make bitcoin legal tender, recently requested the regional central bank’s assistance in developing a cryptocurrency regulatory framework. The report also said the CAR had expressed its “commitment to the single currency and respect for the statutes of the Bank of Central African States.”
Developing a Crypto Regulatory Framework
After initially clashing with the Central African Republic (CAR) over its decision to make bitcoin legal tender, the Bank of Central....