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Posts Tagged ‘Currency’

PBoC’s Digital Currency Chief Departs to Lead Securities Clearing House

The former architect of China’s central bank digital currency (CBDC) initiative has left the position to head the country’s central securities clearing house. Yao Qian, who founded the Digital Currency Research Lab at the People’s Bank of China (PBoC) last year, has now taken up the role of general manager at the China Securities Depository…

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China’s Central Bank Seeks Digital Currency Specialists

The Chinese central bank, the People’s Bank of China (PBoC), has opened four positions for crypto-related professionals, according to a document published Wednesday, Oct. 10 on the bank’s website. Per the paper, PBoC is seeking two engineers at their Digital Money Institute with experience in blockchain and cryptography, security, and chip design. The bank wants…

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Automated Trading Programs Manipulate Digital Currency Prices

Automated trading programs, or bots, are manipulating digital currency prices on cryptocurrency exchanges, according to a Wall Street Journal (WSJ) report October 2. Automated trading software is a program that allows traders to set specific rules for both trade entries and exits, submit orders to a market center or exchange, and then automatically executes them…

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CFTC Chairman: Two-Thirds of Fiat Currency ‘Not Worth Paper It’s Written On’

The head of the US regulator Commodity Futures Trading Commission (CFTC) sees Bitcoin or other cryptocurrencies helping consumers escape fiat currency in the majority of the world by 2028. Giancarlo: Cryptocurrencies ‘Here To Stay’ As part of comments to CNBC about cryptocurrency regulation in the US, chairman J. Christopher Giancarlo described “two thirds” of fiat…

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Central Bank Gives Permission to Issue First Digital Currency

Mongolia’s largest mobile telecoms operator has become the country’s first licensed entity to issue its own digital currency. This is according to a report by the official state media outlet Montsame Friday, September 28. Mobicom’s financial arm Mobifinance is now clear to issue the e-currency, dubbed “Candy,” to investors, Montsame confirms. The executives have received…

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Emerging Markets Create Illusion of Bitcoin as a Global Currency

Many investors hoped Bitcoin’s price would rally as pressure increases on emerging market currencies like the Turkish Lira. Instead, Bitcoin is following the downward trend of these currencies. Economist Panos Mourdoukoutas, writing for Forbes, describes the prospect of Bitcoin replacing national currencies as a myth. Bitcoin Following Trend Set by Turkey and Argentina Mourdoukoutas believes that…

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Majority of Investors Want to Buy More Digital Currency in 2018, Survey Shows

A majority of accredited and retail investors plan to increase their crypto asset holdings over the next 12 months, according to a survey published September 5 by investment platform SharesPost. The mid-year survey, which was conducted in July, polled 2,490 retail investors and 528 individual accredited and institutional investors.  The recent survey shows both consumers…

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Bitcoin Velocity Drop-Off Shows Usage as ‘Reserve Currency’

Bitcoin is “functioning well as a reserve currency” for cryptocurrency investors as its transaction volume looks set to halve in 2018, Placeholder VC partner Chris Burniske said following new analysis released this week. 2018 Market Hits Velocity A Medium post by developer and interviewer Nodar Janashia September 5 had highlighted that Bitcoin’s token velocity, neatly…

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