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Sweden became the seventh EU jurisdiction where Binance received a regulatory green light.
The Nordics remain a cold place for crypto, but Estonia still leads as the public blockchain adopter.
Major figures in the crypto space argued the Bitcoin creator was the most deserving candidate for the economic award, despite the fact Satoshi's true identity remains unknown.
To render seamless and real-time cross-border payments, Ripple, a leader in blockchain and crypto enterprise solutions, has established On-Demand Liquidity (ODL) solutions in France and Sweden. (Read More)
Ripple has signed deals for its ODL system with Lemonway and Xbaht
The Bank for International Settlements (BIS) has rolled out Project Icebreaker with the central banks of Sweden, Norway, and Israel to see how CBDCs can be utilized for international remittance and retail payments. (Read More)
Skingsley's remarks assume significance as she is going to head Bank for International Settlements' (BIS) Innovation Hub from September 2022.
A report by the Riksbank makes the case for banning Bitcoin mining in Sweden over proof-of-work energy consumption concerns; Bitcoin Twitter was quick to react.
Riksbank argues that cryptocurrencies lack the stability to function as a store of value, medium of exchange, or unit of account.
Sweden finishes second phase testing of its CBDC. The Central Bank visualizes ways to promote privacy. Once complete privacy is
European watchdogs should encourage the proof-of-stake mining model as the proof-of-work one is bad for the environment, Erik Thedéen opined.
Inflation is on the rise in many parts of the world.
The post Sweden’s inflation rate at a 29 year high, “transitory” appeared first on CryptoSlate.
A SPAC, or Special Purpose Acquisition Company, is a company that has no commercial operations and is formed strictly to raise capital through an initial public offering (IPO) for the purpose of acquiring or merging with an existing company.
The post Sweden leads Europe’s first crypto SPAC, ticker “HODL” appeared first on CryptoSlate.
The financial regulatory authority said that some aspects of cryptocurrency assets are problematic.
“The claim that Bitcoin miners jeopardize the electricity network is completely misinformed,” says EU-based fund manager Melanion Capital.
Bitcoin, and cryptocurrencies in general, has been a controversial topic for a long time. There are many words for what cryptocurrencies pretend to be but are not: decentralized, safe, fair, valuable, stable, a currency, honest, a solution, the future. Much like many other central bankers, Sweden’s Central Bank governor is very skeptical about Bitcoin trading. The Sveriges Riksbank Governor’s Take On Bitcoin According to a Bloomberg article, the governor of Sveriges Riksbank, the central bank of Sweden, questioned the staying power of currencies without government backing. He compared buying and selling Bitcoins to trading stamps. Speaking at a banking conference in Stockholm, Sveriges Riksbank governor Stefan Ingves argued, “Private money usually collapses sooner or later,”. Further remarking, he said, “And sure, you can get rich by trading in bitcoin, but it’s comparable to trading in stamps.” Earlier this year, Ingves said that Bitcoin and other cryptocurrencies are unlikely to escape regulatory oversight as their popularity grows. Related Reading | Sweden to Bring Forward Launch of State-Backed Digital Currency e-Krona Despite his opinion of Bitcoin’s deficiencies as a currency, Ingves has taken its reputation among investors seriously. Highlighting consumer interests and money laundering as being of particular concern, the central banker conceded this June that the cryptocurrency had gotten “big enough” to merit close attention from regulators, central bankers, and lawmakers across the globe. Cryptocurrencies And Central Bank Governors Ingves’s remarks are in line with what other central bankers have said about crypto. Some central bankers have compared it to the tulip bubble of the 17th century, which ended in collapse. Related Reading | Bitcoin Outlives Tulip, Dotcom, and Every Notorious Market Bubble In February, Ireland’s central bank governor Gabriel Makhlouf said bitcoin investors should be ready to lose all their money. “Personally, I wouldn’t put my money into it, but clearly, some people think it’s a good bet,” Makhlouf said. “Three hundred years ago, people put money into tulips because they thought it was an investment.” Related Reading | Bank of England Governor Still Isn’t a Fan of Bitcoin Similarly, Bank of England governor Andrew Bailey said cryptocurrencies have no intrinsic value and may crash to zero. “I’m sorry, I’m going to say this very bluntly again: buy them only if you’re prepared to lose all your money,” Bailey said. “I would only emphasize what I’ve said quite a few times in recent years. I’m afraid they have no intrinsic value,” BTC trading above $45K | Source: BTCUSD on TradingView.com Around the world, central banks in countries such as China, Ghana, South Korea, Japan, and Switzerland have started researching, experimenting with, and testing the launch of Central Bank Digital Currencies. The Federal Reserve has also said it is researching the pros and cons of creating a CBDC for the United States. Meanwhile, El Salvador made history this week by adopting Bitcoin as legal tender. Featured image from Financial Times, Chart from TradingView.com
Sweden’s central bank Governor Stefan Ingves does not see Bitcoin withstanding the test of time. This is according to utterances he made on Thursday at a banking conference, warning that Bitcoin’s “private” nature would be its greatest downfall. “Private money usually collapses sooner or later- And sure, you can get rich by trading in Bitcoin, […]
Riksbank authorities have clarified that the eKrona is not a cryptocurrency like Bitcoin or others that exist in the market.
In comments at a Swedish banking conference, Sveriges Riksbank Governor Stefan Ingves warned that private money “usually collapses sooner or later.”
Corite is a Web3 engagement platform designed to help artists raise funds. Corite has raised over $1 million for its artists through Fan Campaigns so far. It currently has over 100,000 users. Corite, the Swedish music-tech startup, will host a sale of NFTs that let fans get a share of British rapper Central Cee’s hits. […]
The post Corite to host British rapper Central Cee’s hits NFTs sale appeared first on CoinJournal.
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