Reuters | Crypto

India wants BRICS members to discuss linking their CBDCs for trade and tourism at a future summit, according to a Reuters report. India’s central bank, the Reserve Bank of India (RBI), has reportedly proposed an initiative linking BRICS central bank digital currencies (CBDCs) to facilitate cross-border trade and tourism payments.  A Reuters report citing two anonymous sources claimed that the recommendation would place the idea of CBDC interoperability on the agenda for the 2026 BRICS summit, which India is scheduled to host. Reuters reported that the proposal, if accepted by the Indian government and BRICS partners, would be the first formal consideration of CBDCs within the bloc, which includes Brazil, Russia, India, China and South Africa. Read more

Italian banks have endorsed the ECB’s digital euro project but called for implementation costs to be spread out over several years. Italian banks have expressed their support for the European Central Bank’s (ECB) digital euro initiative, but are calling for the implementation costs to be spread out over several years due to the financial burden it places on the sector. “We're in favour of the digital euro because it embodies a concept of digital sovereignty,” said Marco Elio Rottigni, General Manager of the Italian Banking Association (ABI), during a press seminar in Florence,  Reuters reported on Friday. “Costs for the project, however, are very high in the context of the capital expenditure banks must sustain. They could be spread over time,” Rottigni added. Read more

Nearly unanimous consensus among economists points to a Fed rate cut next week, with 105 of 107 economists expecting a 25 basis-point reduction on September 17, marking the first easing since January, as Bitcoin surged above $116,000 following fresh inflation data with the Producer Price Index declining 0.1% unexpectedly, while spot Bitcoin ETFs drew $553 million in net inflows. The post 105 of 107 Economists Expect Fed to Cut Rates 25 Basis Points on September 17: Reuters appeared first on Cryptonews.

Hut 8 CEO Asher Genoot told Reuters that American Bitcoin’s merger with Gryphon Digital mining is nearly complete.

China’s cabinet will review a roadmap that includes yuan-pegged stablecoins to bolster yuan internationalization, sources told Reuters. China, one of the most restrictive global jurisdictions for cryptocurrencies, is reportedly considering allowing Chinese yuan-backed stablecoins in what would be a major policy reversal. Chinese authorities may authorize yuan-backed stablecoins for the first time to promote global use of its currency, Reuters reported on Wednesday, citing sources familiar with the matter. If approved, China’s plan for stablecoin use would mark a major shift in its approach to crypto after the country banned crypto trading and mining in September 2021. Read more

Sellers using exchanges located in the country will have to pay a 0.21% tax on the transaction value, up from 0.1%, Reuters said.

Coinbase has sought a regulatory green light to trade tokenized equities on blockchain, asking the SEC for no-action relief that would let customers swap digital tokens reflecting U.S. stocks around the clock. Approval would place the crypto exchange in direct competition with firms like Robinhood.gh blockchain technology. The post Coinbase Pushes SEC for Permission to Trade Blockchain-Based Stocks: Reuters appeared first on Cryptonews.