Danske Bank Lowers Negative Rate Threshold, Denmark’s Business Minister Says ‘Enough is Enough’

Danske Bank Lowers Negative Rate Threshold, Denmark’s Business Minister Says 'Enough is Enough'On April 26, 2021, the Danish multinational banking and financial services corporation Danske Bank published a press release explaining that the institution has changed the threshold for personal customers and standard interest rates for business customers in Denmark. The Bank plans to lower the threshold for charging negative interest on deposits from DKK 100,000 to […]

The Global Economy Comes Before Savers: ECB President Christine Lagarde Defends Negative Interest Rates

The Economy Comes Before Savers: ECB President Christine Lagarde Defends Negative Interest RatesThe European Central Bank President Christine Lagarde is keeping the central bank’s monetary easing policies unchanged according to her statements from a press conference last Thursday. Moreover, the central bank’s Twitter account recently shared a video of Lagarde defending negative interest rates, as the bank’s President stresses that they “support companies and people in the […]

An ECB Board Member Attacks Bitcoin, Says It ‘Does Not Fulfill the Basic Properties of Money’

An ECB Board Member Attacks Bitcoin, Says It 'Does Not Fulfill the Basic Properties of Money'Isabel Schnabel, a board member with the European Central Bank (ECB), has attacked bitcoin claiming the crypto asset “does not fulfill the basic properties of money.” She also describes bitcoin as a “speculative asset without any recognizable fundamental value and is subject to massive price swings.” Schnabel also surmises that trust in “cryptocurrencies might rapidly […]

African Migrants Are Turning to Cryptocurrency Platforms for ‘Low-Fee Remittances’

African Migrants Are Turning to Cryptocurrency Platforms for 'Low-Fee Remittances'As central banks on the African continent fight to keep cryptocurrencies from going mainstream, many more migrant workers are increasingly turning to money-sending platforms that use cryptocurrencies when moving funds across borders. More Than Just an Investment Thus in addition to becoming a “hot investment for hedge funders and corporate moguls,” crypto-assets like bitcoin are […]

Microsoft President Says the World Is Best Served When Currencies Are Issued and Backed by Governments

Microsoft President Says the World Is Best Served When Currencies Are Issued and Backed by GovernmentsMicrosoft President Brad Smith says that “The world is best served when currencies are issued, backed by and regulated by governments.” He further emphasized that he is not a fan of encouraging the private sector to issue digital currencies. Microsoft’s President Says Currency Issuance Should Be Left to Governments Brad Smith, President of Microsoft Corp., […]

Goldman Sachs Reports Rising Customer Demand for BTC: Predicts an ‘Explosion’ in the Use of Digital Currencies

Goldman Sachs Reports Rising Customer Demand for BTC: Predicts an 'Explosion' in the Use of Digital CurrenciesJohn Waldron, the chief operating officer (COO) of Goldman Sachs, says the financial services giant is seeing rising customer demand to own and invest in bitcoin. Nevertheless, the COO explained that his organization was still exploring ways of satisfying this demand without running afoul of regulators. ‘How Banks Should Be Regulated When Dealing With Digital […]