Crypto News 

The Marshall Islands’ National Crypto Was Inspired by Work of Block.One

“It has been almost a year since the Republic of the Marshall Islands (RMI) unveiled the development of its national digital currency dubbed Sovereign (SOV)” writes Ana Alexandre for cointelegraph.com. A crypto legal tender could purportedly create a situation where the solution to costly remittance is “baked into” the monetary system itself.Wagner confirmed that SOV is currently under active development internally, and that the cryptocurrency’s design not only has similarities to EOS, but is in fact inspired by the work of Block.One.The cryptocurrency is set to tackle some issues the…

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Crypto News 

US SEC Seeks to Reopen Case Against Bitcoin Fraudster, Seeks Penalties

“The SEC expects to either reach an agreement on monetary relief or move to seek monetary relief should the court reopen the case” writes Ana Alexandre for cointelegraph.com. The United States Securities and Exchange Commission (SEC) has filed to reopen a case against Bitcoin (BTC) fraudster Renwick Haddow as he has not resolved the regulator’s claims for monetary relief against him.The SEC states that the consent judgment and case closure left its claims for monetary penalties unsettled. Source: cointelegraph.com

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News 

China’s potential growth below 6% over next five years: central bank adviser

“BEIJING (Reuters) – China’s potential economic growth will be below 6% over the next five years, an adviser to China’s central bank said on Saturday” writes Midwest Communications Inc for 95kqds.com. China’s monetary policy is already quite loose, and attempting to stimulate the economy to grow faster than its potential could cause it to fall off a cliff, said Liu. China central bank governor Yi Gang reiterated in an article published last week that China will not resort to quantitative easing and is committed to maintaining a prudent monetary policy.China’s…

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Markets News 

EU Won’t Let Stablecoins Enter Market Until Risks Are Addressed

“No global stablecoin project will begin operation in the European Union (EU) until the associated risks to monetary sovereignty are addressed, according to EU authorities” writes Helen Partz for cointelegraph.com. As such, solving the challenges raised by global stablecoins requires coordinated efforts from global jurisdictions, the authorities noted.If adopted on a global scale, stablecoins pose a threat to monetary sovereignty, the Council and the Commission argued.In their statement, the EU authorities have outlined multiple risks and issues associated with adoption of stablecoins — digital currencies pegged to another asset to…

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Crypto News 

This Cryptocurrency Seems Designed For A Post-State Society

“While the thought of regulating some new global currency might seem silly, this compatibility should be quite appealing to policymakers” writes Dylan Love for cointelegraph.com. Upstart crypto company Saga wants to issue a new global currency on the blockchain.Saga’s SGA digital currency relies on an international reserve asset called Special Drawing Rights (SDR), which was introduced by the International Monetary Fund in 1969.So the monetary value of SGA can change, but the idea is that any change in price happens slowly and sustainably. Source: cointelegraph.com

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News 

BOJ’s Harada: Must continue current easing for prices, interest rates to rise

“TOKYO (Reuters) – Bank of Japan board member Yutaka Harada said on Thursday the central bank should continue its current monetary stimulus in order for prices and interest rates to eventually pick up” writes Midwest Communications Inc for 95kqds.com. “Given that current low interest rates were caused by deflationary monetary policy in the past, the only way is to wait for prices and interest rates to rise while continuing current monetary easing aimed at sustaining economic growth,” Harada, a vocal advocate of aggressive monetary easing, said in a speech to…

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Markets News 

Dollar firm as ‘headline ping-pong’ revives trade optimism

“The U.S. dollar held overnight gains against the safe-haven Japanese yen and Swiss franc to sit at 108.79 yen and 0.9877 francs” reports cnbc.com. “I thought the markets had stopped playing headline ping-pong on trade, but evidently not.”. The Canadian dollar hit a one-month high of $1.3203 per greenback after the country’s central bank held interest rates steady and said there were signs the global economy was stabilizing. A rise in oil prices also supported the exporter’s currency, and lifted the Norwegian krone slightly to 9.1622 per dollar.The long, seven-year…

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News Regulators 

Why Lagarde shouldn’t touch monetary policy – for now

“Lagarde, reputed to be a hard worker and a fast learner, will use these months to make up her own mind on monetary policy” writes Senior Writer for marketwatch.com. That modesty alone also seems to insure that no major change of monetary policy should be expected in the months to come.One month into her mandate, new European Central Bank president Christine Lagarde has already said many times that she wants to “review” the monetary policy she inherited from predecessor Mario Draghi.Many things would deserve to come under review, and monetary…

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News 

China will maintain ‘normal’ monetary policy as long as possible: central bank governor

“BEIJING (Reuters) – China’s central bank governor said on Sunday that the country should maintain “normal” monetary policy as long as possible since economic growth is still within a reasonable range and inflation is mild overall” writes Midwest Communications Inc for 95kqds.com. The exchange rate of China’s yuan is decided by the markets’ supply and demand, we will not resort to competitive devaluation of the yuan, Yi Gang wrote in an article published by the leading Communist Party theoretical journal Qiushi.China’s central bank will continue to promote reform of the…

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News Regulators 

BOJ mindful of risks from excessive fall in super-long yields – senior official

“TOKYO (Reuters) – The Bank of Japan is guiding its ultra-loose monetary policy with an eye on the risk that excessive declines in super-long government bond yields could hurt the economy, a senior BOJ official said on Friday” writes Midwest Communications Inc for 95kqds.com. “We’re mindful that excessive declines in super-long bond yields, such as those with maturity of 20 years, could hurt public sentiment and economic activity by lowering the interest life insurers and pension funds earn from their investment,” BOJ Executive Director Eiji Maeda told parliament.”But the current…

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