Central Bank of Armenia Urged to Regulate Cryptocurrencies
Calls have been issued in Armenia for the central bank to do its job and put the country’s crypto space in order. Both government regulators and representatives of the financial sector insist that the industry needs regulation to prevent the use of cryptocurrencies for illicit purposes. Bankers and Tax Officials in Armenia Call for Crypto Regulations The State Revenue Committee (SRC), a regulatory body responsible for tax and customs services in Armenia, has turned to the Central Bank of Armenia (CBA), urging the monetary authority to ensure the country’s crypto....
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The Central Bank of the Republic of Armenia has advised its citizens not to use digital currencies such as bitcoin. The Armenian central bank told regional news service ARKA last month that, in its view, the use of digital currencies should be avoided due to a lack of regulation in the industry. The comments appear to be some of the first from the institution on the technology. The central bank told ARKA: "According to Armenian legislation, virtual currencies, including bitcoins are not considered electronic money. This in view, the regulator calls on citizens to refrain from using them,....
The G7 finance ministers and central bank governors discussed the need to regulate cryptocurrencies during their latest meeting. German Finance Minister Olaf Scholz raised concerns about Facebook’s upcoming cryptocurrency. G7 Sees the Need to Regulate Crypto U.S. Treasury Secretary Steven Mnuchin hosted a discussion on Monday with finance ministers and central bank governors from Canada, France, Germany, Italy, Japan, the U.K., the European Commission, and the Eurogroup. The meeting was also attended by the heads of the International Monetary Fund (IMF), the World Bank, and the....
Tanzanian President Samia Suluhu Hassan has urged her country to be ready for emerging fintech by paving the way for cryptocurrencies. She also urged the country’s central bank to begin the necessary preparations for a step-change in global attitudes towards banking. However, in her address of the Tanzanian finance chiefs, Hassan acknowledges that not everyone in the country is embracing crypto. The 61-year-old leader still wants them to plan ahead. She said: I know that throughout the nation, including Tanzania, they have not accepted or started using these routes. However, my call....
Convinced that cryptocurrencies are affecting the tasks performed by monetary authorities around the world, the Dutch central bank has urged for comprehensive international regulations. The call comes after research into the development of crypto assets and policy responses. ‘Proper Regulation Indispensable for Risky Cryptos,’ Dutch Central Bank Insists Bitcoin, tether, and other digital coins are affecting many of the tasks and objectives of central banks and supervisory authorities, according to Steven Maijoor and Olaf Sleijpen, members of the Executive Board of De Nederlandsche Bank....
The Central Bank of Ecuador is planning to issue cryptocurrency-specific regulation later this year. According to statements from Guillermo Avellan, the manager of the Central Bank of Ecuador, this will bring more clarity to the cryptocurrency scene in the country, and will contribute to preventing crimes such as money laundering.
Central Bank of Ecuador Has Eyes Set on Crypto
The Central Bank of Ecuador is planning to prepare and issue cryptocurrency-related regulations this year. The announcement was made by Guillermo Avellan, manager of the Central Bank in an interview on....