regulation

NGN/USD: Nigeria Naira High-Value Banknotes to Be Replaced to Curb Hoarding

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NGN/USD: Nigeria Naira High-Value Banknotes to Be Replaced to Curb Hoarding

Nigeria’s central bank said it’s move to replace high-value currency notes will help prevent hoarding and stymie illegal activity and kidnappings in Africa’s largest economy. The country’s banking regulator plans to issue redesigned 200-, 500- and 1,000-naira notes from mid-December, Central Bank Governor Godwin Emefiele said at a briefing in Abuja, the capital, on Wednesday. … Read more

Will Bitcoin Replace Dollars? Unlikely, Fed’s Michael Barr Says

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Will Bitcoin Replace Dollars? Unlikely, Fed’s Michael Barr Says

The top US bank regulator says that crypto tokens are unlikely to replace traditional currency and that banks should proceed cautiously when they experiment with the asset class. “Because crypto assets have proved to be so volatile, they are unlikely to grow into money substitutes and become a viable means to pay for transactions,” Federal … Read more