Bank of England Cuts Rates Due to Coronavirus, Health Minister Tests Positive
The Bank of England cuts interest rates by half. The country’s Health Minister Nadine Dorries tested positive for coronavirus.
The Bank of England cuts interest rates by half. The country’s Health Minister Nadine Dorries tested positive for coronavirus.
G7 has just recently released a report addressing a long list of concerns it has with global stablecoins like Libra.
Two U.S. Congressmen have written to the Federal Reserve, on the possibility of tokenizing the dollar. The Congressmen believe that such a move is inevitable.
France warned that it will block the development of Facebook’s planned Libra cryptocurrency in Europe as it represents itself a threat for the “monetary sovereignty” of governments.
Facebook’s Libra project is facing increasing opposition with the German minister of finance joining the bandwagon citing the coin’s disruption potential as a major threat to the EuroZone.
According to Huw van Steenis, senior adviser to Bank of England Governor Mark Carney, cryptos have no value and fail fundamental tests of financial services.
Bitcoin and other cryptocurrencies show recovery after positive comments from the Financial Stability Board. Today’s discussion of the G20 ministers will put more light on the state of crypto regulations.
In the run-up-to G20 summit, the news about the FSB’s positive approach to cryptocurrencies has resulted in an optimistic upturn in the market.