Interbank market news scan, at 1:04 am AST: Latest news on central banks, cryptocurrency, foreign exchange …

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The dollar slipped from close to its highest in nearly one month on Tuesday as caution set in before U.S. Treasury Secretary nominee Janet Yellen testifies later, with traders keeping a close eye on the policies of the incoming Joe Biden government. Dollar retreats from one-month high as traders eye Biden’s FX policy | Reuters

Among the many races the pandemic has accelerated, none is so pointless as the issuance of central-bank digital currencies. The Canadian government, which should know better, has jumped into the fray despite earlier opposition. Reversing comments made in February 2020, Bank of Canada deputy governor Timothy Lane now believes state involvement in cryptocurrencies is a pressing matter. Along with its G7 partners, Canada has been exploring central-bank digital currencies since 2017 but the race suddenly sped up in mid-October. Central banks should stay clear of cryptocurrencies – Canadian Investor

China’s Blockchain-based Service Network (BSN) – a permissioned blockchain network for building decentralized applications and tokens – plans on releasing a beta central bank digital currency (CBDC) as early as the second half of 2021. https://www.nasdaq.com/articles/chinas-blockchain-based-service-network-to-integrate-central-bank-digital-currency-2021-01

Frank Giustra, billionaire investor and mining financier, is warning that governments and central banks are going to do everything they can to stifle Bitcoin’s journey towards universal adoption. https://dailyhodl.com/2021/01/17/billionaire-investor-says-central-banks-will-stop-at-nothing-to-clamp-down-on-bitcoin/

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