Bitcoin Will Face Tougher Regulation as Popularity Grows, Says Sweden’s Centr...
The Swedish central bank’s governor says bitcoin will face tougher regulation given its sheer popularity that continues to grow. “When something gets big enough, things like consumer interests and money laundering come into play,” said Stefan Ingves, Governor of the Riksbank. Tougher Regulation Expected for Bitcoin Stefan Ingves, the governor of Sweden’s central bank, the Riksbank, said Monday that bitcoin and other cryptocurrencies are unlikely to escape regulatory oversight due to their sheer popularity, Bloomberg reported. Even though regulators have voiced their....
Related News
In comments at a Swedish banking conference, Sveriges Riksbank Governor Stefan Ingves warned that private money “usually collapses sooner or later.” The governor of Sweden’s central bank, the Sveriges Riksbank, has dismissed Bitcoin (BTC) as an altogether far-fetched alternative to government-backed fiat currencies. Speaking at a banking conference in Stockholm, Sveriges Riksbank governor Stefan Ingves argued, “Private money usually collapses sooner or later.” In a further disparaging remark, he claimed, “Sure, you can get rich by trading in bitcoin, but it’s comparable to trading in....
Swedish bank SEB (Skandinaviska Enskilda Banken AB) placed a sponsored, full-page ad this week in Sweden’s largest online newspaper, Swedish Dagbladet. Written in article format, it was titled “This May be Bitcoin's Fatal Blow.” Its author, Johan Javeus, SEB's chief strategist, promotes what some on Reddit viewed as a negative stance onBitcoin. Others saw it as positive, saying that the ad just reveals that the bank is showing a reasonable caution around thecryptocurrency. The author of the article presents the usual examples of why the bank frowns on thecryptocurrency's use. He says that....
On Wednesday, September 27, Roberto Campos Neto, Brazil’s central bank governor, announced his intention to tighten crypto regulation. During his speech on Finance and Taxation at a Congress hearing, Campos Neto said virtual assets brokerages should be subject to strict supervision. Given Brazil’s significant increase in crypto adoption, the governor emphasized the need to heighten […]
The virtual event, which runs Oct. 19-22, brings together marquee names from Switzerland’s FINMA, Sweden’s Riksbank, Bank for International Settlements, the Commodity Futures Trading Commission and the International Monetary Fund to discuss stablecoin regulation, central bank digital currencies, the future of money and more.
The decentralized finance (defi) ecosystem has become a multi-billion dollar industry and quite a bit of the popularity is stemming from China. While a number of defi projects from the West like Uniswap, Compound, and Makerdao are popular in the country, China is also creating its own landscape of defi platforms and applications. At the time of publication, the recorded total value locked (TVL) in defi is hovering around $10.8 billion. Uniswap captures the market dominance according to the web portal defipulse.com, as the trading protocol commands over 20% of the market. On October 1,....