Honduras’ CNBS regulator has banned the financial system from trading in cryptocurrency and similar virtual assets, citing risks of fraud and money laundering. The resolution, which takes immediate effect, prohibits institutions under CNBS supervision from engaging in activities involving cryptocurrencies, tokens, or any unauthorized virtual assets. This move underscores regulatory concerns in a country where crypto assets are not currently regulated by law.
New Zealand Central Bank Governor Adrian Orr issued a strong warning against cryptocurrencies, particularly stablecoins, calling them the ‘biggest misnomer’ and emphasizing that their value depends entirely on the assets and liabilities of their issuer, raising concerns about their stability and suitability as a form of currency.
In a blunt assessment, Bank of England Governor Andrew Bailey poured cold water on Bitcoin’s ambitions as a mainstream payment method, declaring it “not taking off” due to its inherent inefficiency. His comments reignite the debate about Bitcoin’s viability as a daily transaction currency and highlight the challenges it faces in achieving widespread adoption.