Crypto.com：加密貨幣支付成新趨勢 - 20210222 - 經濟
料未來更多法規出台
有傳支付服務巨頭PayPal、電動車大廠Tesla等擬接受加密貨幣支付，刺激比特幣價格持續破頂，於昨日升至5.7萬美元的歷史高位。劉偉經表示，加密貨幣支付行業的發展仍處於初步階段，不少國家正關注加密貨幣的發展走勢。隨着行業逐步發展，料未來會有更多政策法規出台，以及新機構投資加密貨幣支付平台。
金融科技發展方面，劉偉經指香港及大灣區內，不乏微信支付和支付寶等較普及的支付平台，甚至有來自其他國家的用戶，認為行業發展相對迅速。而市民普遍對於新興的金融科技態度保守，對金融科技產品的私隱及安全欠缺信心。
劉偉經坦言，目前沒有一個完美的解決方案，若公司要跟用戶建立信任，則要將私隱與安全的議題放於首位。
私隱安全放首位 增用戶信心
至於香港的虛擬銀行不時發生事故，劉偉經指出，由於虛擬銀行提供「全天候」服務，需要與雲端服務等第三方機構合作，或使銀行增添多一重危機。惟他認為，最重要的因素仍在於金融科技機構本身。公司需專注於內部培訓、程序控制等，且不能仍源用傳統的一套手法，才可以更快應對世界各國日新月異的法規。
Crypto.com to Burn 70B CRO Tokens Ahead of Full Blockchain Launch Next Month
Bloomberg
(Bloomberg) – Copper rose above $9,000 a metric ton for the first time in nine years, taking another step closer to an all-time high set in 2011 as investors bet that supply tightness will increase as the world recovers from the pandemic.Copper is surging amid a broad rally in commodities from iron ore to nickel, while oil has gained more than 20% this year. The bellwether industrial metal has doubled since a nadir in March, boosted by rapidly tightening physical markets, prospects for rebounding economic growth and the expectation that a years-long era of low inflation in key economies may be ending.Investors are also piling into copper on a bet that demand will surge in the coming years as governments unleash unprecedented stimulus programs targeting renewable energy and electric-vehicle infrastructure, which will require huge volumes of the raw material.“The list of bullish factors for copper is extremely long,” Max Layton, head of EMEA commodities research at Citigroup Inc., said by phone from London. “A lot of the most bullish developments are really going to play out in the next few months, and therefore we think it’s going to be sooner rather than later that it gets to $10,000.”In some areas of the physical copper market, supply conditions are the tightest in years and may come under even more pressure as smelters in top consumer China face shrinking profit margins for processing raw ore into refined metal. Copper treatment charges, an indicator of refining margins, are at $45.50 a ton, the lowest since 2012. One leading supplier is considering cutting output, in a potential blow to buyers.Surging prices are a boost for miners, driving up stock prices and raising the prospect of more blockbuster returns to shareholders. Jiangxi Copper Co., China’s top producer, gained as much as 20% in Hong Kong to the highest level since 2012, while U.S. producer Freeport-McMoRan Inc. closed at the highest since 2014 on Friday.Inflation ThreatWith inflation expectations already increasing around the world, the sharp rally in commodities including copper could soon start filtering into the price of end-use goods, raising costs for governments with big infrastructure spending plans.The risk of faster inflation has prompted a selloff in bonds globally, with the benchmark 10-year U.S. Treasury yield jumping to the highest in about a year on Monday. The gap between 5-year and 30-year yields reached the widest since October 2014, moving past yet another historic level on signs of strength in the reflation trade.Wilting real returns in the bond markets could drive further inflows into copper, creating an inflation feedback loop and intensifying the clamor for hard assets as prices rise.There are already signs of emerging tightness on the London Metal Exchange, as spot contracts trade at a premium to futures. That pattern, known as backwardation, was a feature of the market during a record-breaking boom in Chinese demand last year, and suggests that spot demand is once again outpacing supply as exchange inventories run low.Copper for delivery in three months rose 2.1% to settle at $9,097 a ton at 5:51 p.m. in London after touching $9,269.50, the highest since 2011. The metal is on pace for an unprecedented 11th straight monthly gain. The current price record of $10,190 was reached in February 2011.In China, the SHFE contract hit the daily limit. Most other metals rose, with tin climbing to the highest since 2011.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Hannah Akuiyibo: Nigeria’s Crypto Ban Fuels Mistrust
Nigeria is committed to building its digital economy, but the central bank’s recent cryptocurrency prohibition counteracts this goal and fuels mistrust of the government.
“Governments and businesses all over the world are realizing the powerful potential usability of blockchain… Nigeria, however, is lagging due to the government institutions’ sore-footedness and refractory approach to this undeniably ingenious innovation.”
Hannah Akuiyibo is an Associate at the Woodrow Wilson International Center for Scholars in Washington, D.C
So states the draft National Blockchain Adoption Strategy released by Nigeria’s National Information Technology Development Agency (NITDA) in October 2020. The strategy makes the case for Nigeria’s adoption of blockchain technology, including digital currencies, to build a digital economy.
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Yet, on February 5, many Nigerians were surprised and angered when the Central Bank of Nigeria (CBN) announced a ban on the exchange of cryptocurrency by financial institutions and directed banks to close accounts trading in crypto.
Although CBN said its policy is a reiteration of a 2017 circular warning financial institutions about virtual currencies’ risks, this announcement is at odds with its efforts toward digital transformation. Following the announcement, the Security and Exchange Commission (SEC) paused its regulatory review of crypto pending CBN clarification. Meanwhile, the Senate has invited the heads of CBN and the SEC to brief them on this decision.
Restrictions on foreign spending have led some banks to limit monthly foreign transactions to as low as $100 a month. Direct remittances to Nigeria also dropped over 97% between January to September 2020, increasing the squeeze on forex.
CBN devalued the Naira twice last year, and the high cost of moving money into Nigeria has led Nigerians to seek alternatives through cryptocurrency. Nigeria is the world’s second-largest peer-to-peer (P2P) bitcoin market and the largest in Africa. Crypto trading, which totaled $566 million from 2015-2020, has increased yearly since 2015, with a jump of 30% in 2020.
The high cost of moving money into Nigeria has led Nigerians to seek alternatives through cryptocurrency.
Driving the crypto market’s growth is users tapping into crypto as a payment, investment, and trading tool amid increasing difficulties in accessing forex and the desire to hedge the value of funds. While the COVID-19 pandemic likely plays a significant role in the remittance decline, members of the diaspora are increasingly turning to cryptocurrency to send money and avoid stiff fees and the high CBN exchange rate that reduces the value of the exchange by up to 20-30%.
The crypto exchange platform, Yellow Card, reported growth of 1,840% in remittances processed on its platform in 2020, with Nigeria making up more than 50% of its users. This increase in cryptocurrency usage tracks with the overall growth of Nigeria’s Fintech sector.
Nigeria’s digital transformation
In Nigeria, the government has made concerted efforts toward streamlining and developing policy frameworks and national strategies to advance its digital transformation. President Buhari redesignated the Ministry of Communications as the Ministry of Communications and Digital Economy (FMoCDE) in 2019 and moved the National Identity Management Commission to this ministry.
Crypto ban
In light of Nigeria’s efforts to advance its digital economy agenda, the crypto decision seems counterproductive and reactive. While the crypto ban has led to an initial chill, with banks closing accounts and some owners withdrawing their funds, it is unlikely to impact crypto’s growth.
Instead, users may move to P2P trading platforms that facilitate trading without an intermediary and allow non-fiat payment methods. Already, there has been an almost 16% jump in Bitcoin usage for P2P lending since the announcement, and Binance, the world’s largest crypto exchange platform, recently introduced a new P2P option for Nigerians. Many Nigerians have attributed the decision to the CBN’s urgent need to inject and retain forex in the economy by any means. But if the goal was to increase forex or promote transparency, pushing users to P2P platforms undermines these aims.
Trust in government institutions has also taken a hit. Some view this as bureaucratic stifling of innovation or a desire to increase control and cut off a means of livelihood for many young Nigerians facing a projected unemployment rate of over 30% in 2021. The frustration expressed by Nigerians taps into a broader dissatisfaction with a government perceived as corrupt and non-responsive. The lack of public or industry consultation or policy coordination has reinforced this viewpoint, and Nigerians on Twitter launched a #WeWantOurCryptoBack campaign.
Others noted that political influence could be driving the decision after some #EndSARS protestors turned to cryptocurrency to raise funds when the government froze their bank accounts. CBN explained the decision by the need to protect consumers and counter the use of cryptocurrencies for criminal activities while emphasizing that the decision does not detract from the bank’s commitment to developing the fintech sector.