Russian Central Bank to Consider Gold-Backed Cryptocurrency

Russia’s central bank will consider the use of a gold-backed cryptocurrency to facilitate international settlements, according to a Tass report. Elvira Nabiullina, governor of the Bank of Russia, said Thursday that her institution is to review a proposal for the development of the cryptocurrency. Nabiullina said at the nation’s lower house, or Duma: “As for mutual … Read more

NYSE Arca Seeks Rule Change to List ETF Backed by Bitcoin and T-Bills

NYSE Arca has formally applied to the Securities and Exchange Commission (SEC) for a rule change that would allow it to list shares in a proposed bitcoin investment trust. The United States Bitcoin and Treasury Investment Trust, managed by Wilshire Phoenix Funds, would invest exclusively in bitcoin and short-term U.S. Treasury securities, according to a … Read more

European Central Bank: Crypto Does Not Have Tangible Impact on Real Economy

The European Central Bank (ECB) stated that cryptocurrencies do not have implications on monetary policy or factor into the real economy in a May report. In the report dubbed “Crypto-Assets: Implications for financial stability, monetary policy, and payments and market infrastructures,” ECB looks into the potential impact of digital currencies on economic developments and monetary … Read more

CME’s Bitcoin Futures Break Records With $1 Billion in Notional Volume

The world’s largest options and futures exchange, Chicago Mercantile Exchange & Chicago Board of Trade (CME Group) and its bitcoin futures contracts saw an all-time high on May 13. According to CME’s records, the exchange recorded 33,700 contracts on Monday which represented a notional value of around 168,000 BTC ($1.35 billion). Also Read: Our Value … Read more

Research: ICO Market Down Almost 100% From a Year Ago, Raised $40 Million in Q1 2019

The initial coin offerings (ICO) market is down 97% on a year-on-year basis making $40 million so far in 2019, according to research by cryptocurrency exchange BitMEX released on May 13. In the first quarter (Q1) of 2019, the ICO market has reportedly dropped by 97% based on the amount of attracted capital. The slump … Read more

State of the Fintech Nation: UK Government Publishes Report on Fintech Progress

The United Kingdom has long been a global leader in financial innovation. London holds a long history as a prominent financial center for both Europe and the world. This established base has combined with a strong entrepreneurial spirit and access to capital to create a vibrant Fintech ecosystem. None of this would have been acheivable … Read more