Interbank market news scan: central banks, banks, cryptocurrencies …

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Cryptocurrency exchange rates at 11:46 am EST …

BTC/USD=47,627.90

ETH/USD=1,485.88

BTC/EUR=39490.20

ETH/EUR=1,232.00

BTC/GBP=34,138.00

ETH/GBP=1,065.03

Source: OANDA

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Due to bitcoin’s potential to satisfy the three functions of money, bitcoin users expect them to replace paper currency in the long run. However, all of the above may be some of the reasons why Central banks and monetary authorities have been worried about the increasing adoption of Cryptocurrency around the world. Moreover, economists have been worried about how cryptocurrencies could transform the role of Central banks. Wait a minute! Can cryptocurrencies replace paper money? (msn.com)

“But I have to say, regulation is in its early innings – if there is no final use case for bitcoins, [and] I don’t think it’s going to be, [then] ultimately this bubble will pop, but it could take a decade.” Harvard Professor Kenneth Rogoff Warns Central Banks Will Never Allow Bitcoin to Go Mainstream – Regulation Bitcoin News

More cryptocurrency trading goes on in Nigeria than almost anywhere else in the world, reflecting a loss of faith in more traditional forms of investment, as Ijeoma Ndukwe reports. Cryptocurrencies: Why Nigeria is a global leader in Bitcoin trade (yahoo.com)

2 March 2021

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