ASI President Deems Central Bank Digital Currencies As A Satanic Scheme

The president of the European Central Bank (ECB), Christine Lagarde, says cryptos are not currencies, adding that they are “highly speculative, suspicious occasionally, and high intensity in terms of energy consumption.” She also discussed the need for stablecoin regulation and central bank digital currencies (CBDCs). Lagarde: ‘Cryptos Are Not Currencies. Full Stop’ ECB President Christine Lagarde shared her view on cryptocurrency, stablecoins, and central bank digital currencies (CBDCs) in an interview with Carlyle Group co-founder David Rubenstein,....

Estonia's Central Bank is warning citizens to be wary about getting involved with bitcoin, according to a report from Bloomberg, insinuating it could prove to be little more than Ponzi scheme. The emerging digital currency "is a problematic scheme," according to Mihkel Nommela, who heads the central bank's payment and settlement systems. "All risks are assumed by the user, who has no one to turn to for help." The call for caution comes amidst a slew statements from central banks around the world echoing similar sentiments, such as the currency's volatility, susceptibility to theft, and....

The largest country in Latin America could have its central bank digital currency (CBDC) soon, as the Brazilian central bank is taking steps towards creating it. Recently, the Banco Central do Brasil (BCB) president hinted at the possibility of having news on the matter “soon.” No Decision Has Been Made on Whether the Digital Real Will Be Interest-Bearing During an online debate hosted by the Bank of Spain, cited by Reuters, Roberto Campos Neto highlighted that the central bank is “making progress” on the plans to digitalize the Brazilian real. He called central....

Honduras and Guatemala are studying central bank digital currencies and the value they could bring to their respective monetary systems. Two Central American countries, Honduras and Guatemala, are taking a cue from their common neighbor’s adoption of Bitcoin (BTC), but they are taking a very different road. Instead of embracing an existing cryptocurrency as a legal tender, like what El Salvador did, the central banks of Honduras and Guatemala are currently studying central bank digital currencies or CBDCs.Following the approval of the board of directors, the Central Bank of Honduras kicked....

The Central Bank of Nigeria (CBN)’s attempt to incentivize the country’s forex market through the so-called “Naira for Dollar” scheme has failed. This is evidenced by the local currency’s plunge of more than 25% since the launch of the incentive scheme in March 2021. Naira Depreciation The CBN’s scheme that encourages recipients of cross-border remittances to cash out via formal channels failed to incentivize the forex market and has therefore not achieved the bank’s goal of halting the naira’s depreciation, a report has said.....