Chinese Central Bank Governor: User Privacy and Financial Security Key Princi...
According to Yi Gang, governor of China’s central bank, the process of designing the country’s digital currency is premised on two principles, the protection of user privacy as well as ensuring “financial security.” To achieve this, the central bank’s role will be limited to managing the digital currency’s “operating system” while the handling of personal transaction information is done by “designated operating institutions.” Adhering to Relevant Consumer Protection Laws People’s Bank of China (PBOC) governor Yi Gang has said the....
Related News
These Chinese are, without any doubt, at the forefront of the price increases behind Bitcoin late this year, and as a result, the cryptocurrency has been making headlines just about everyone. We're now at a point where huge businesses are accepting the currency, and even governments are recognizing Bitcoin as legal tender. But for as long as Bitcoin has existed, there's a been a black cloud above it. Central banks. It's the exact opposite of what Bitcoin is all about. No authority, no central bank. So it's interesting to know what the Chinese Central Bank has to say on Bitcoin. According....
The Kenyan central bank governor has once again told Kenyans to be wary of the risks that are associated with cryptocurrency transactions and trading. The governor also warned financial institutions supporting cryptocurrency transactions that they risk losing their licenses. Crypto Trading Beneficial to a Few The governor of the Central Bank of Kenya (CBK), Patrick Njoroge, has reiterated that his institution still opposes cryptocurrency transactions. The governor also suggested that Kenyan citizens must always be wary of investing in highly volatile asset classes such as....
According to Patrick Njoroge, the governor of the Kenyan central bank, the significant number of non-smartphones that are in use in Kenya means launching a central bank digital currency (CBDC) now may be premature and could lead to many citizens being financially excluded.
Central Bank Mulls Delaying CBDC Rollout
The governor of the Central Bank of Kenya (CBK), Patrick Njoroge, has suggested the lack of access to smartphones of more than half of Kenya’s mobile phone users is working against its plan to launch a CBDC. He warned the central bank may be forced to delay its....
Oh, look. Another day, another story about China. Today, reports indicate that the governor of the People's Bank of China (PBOC) - the Chinese central bank - has no intentions of banning bitcoin. Despite the fact that their hasn't been talk lately of an outright ban, there's been chatter about banks discontinuing relationships with bitcoin exchanges. "It is out of the question of banning bitcoin as it is not started by central bank," Zhou Xiaochuan was quoted as saying, according to CoinDesk. "Bitcoin is more a kind of tradable and collectible asset, such as stamps rather than a payment....
Reuters has reported that the Philippine central bank is becoming a big proponent for cyber security and may soon regulate Bitcoin operators located within the region. Philippine Central Bank says Cyber Security is a Focus. A senior official told press that banks need better defenses after the wake of the recent SWIFT and Federal Reserve breaches.....