May 2, 2021
Central banks have been net buyers of gold for 11 consecutive years. According to World Gold Council (WGC) data, central banks around the world bought 272.9 tonnes of bullion in 2020.
Purchases last year were a whopping 60% lower than the record 668 tonnes added in 2019. The COVID-19 pandemic was a stronger driver for some central banks to sell reserves and inject liquidity into their economies. Purchasing was concentrated in the first half of the year, then turned nearly nonexistent in the third quarter and resumed in the last three months of the year.
The top 10 central banks with the largest gold reserves have remained mostly unchanged for the last few years. The United States holds the number one spot with over 8,000 tonnes of gold in its vaults – nearly as much as the next three countries combined – and accounting for 79% of total reserves. The only countries where gold represents a higher percent of reserves are Portugal at 80.1% and Venezuela at 82.4%
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A new law in Missoula County might help write the future of cryptocurrency regulation in the U.S. In February, county officials adopted what they believe to be the first permanent zoning policy for cryptocurrency mining operations, which requires them to generate renewable energy and stay clear of residential areas.
Jason Vaughan used to be the site manager for Hyperblock, a Bitcoin mining company in Bonner, MT that closed last year. He says walking into the 250,000 square-foot building was almost like stepping into a giant erector set.
“Most of it’s, you know, steel and metal. There s a lot of noise from the fans of all the machines and whatnot, but there’s just likehere s hundreds of thousands of little blinking lights and whatnot.”
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ECB and a Digital euro: positive consultation results 27 April 2021
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Last year I wrote a blog on the ECB plans to investigate if one should introduce a Digital euro. They announced to launch a public consultation on the desirability of such a central bank digital currency for the euro zone.
Now we are a half year later and in a comprehensive analysis of the results of this consultation the ECB published the findings of this inquiry that mirrored a rather positive attitude. The report thereby provides important input into the ECB’s analytical
External | what does this mean?
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
ECB and a Digital euro: the Dutch are leading 5 hours ago
Last year I wrote a blog on the ECB plans to investigate if one should introduce a Digital euro. They announced to launch a public consultation on the desirability of such a central bank digital currency for the euro zone.
Now we are a half year later and in a comprehensive analysis of the results of this consultation the ECB published the findings of this inquiry that mirrored a rather positive attitude. The report thereby provides important input into the ECB’s analytical
Monday, 19 Apr 2021 03:36 PM MYT
ABN AMRO said it had agreed to pay a fine of €300 million and €180 million as disgorgement reflecting the seriousness, scope and duration of the identified shortcomings in combating money laundering. Reuters pic
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THE HAGUE, April 19 The Netherlands’ third-largest bank ABN Amro is to pay a €480-million- (US$575 million) settlement to prosecutors following a money-laundering probe, the bank announced today.
The announcement follows a 2019 investigation by prosecutors who said the Amsterdam-based bank failed to sufficiently monitor bank accounts and did not report “unusual transactions” or reported them too late.