France sold 129 tons of gold it held in the US Federal Reserve to buy new bars in Europe, realizing a profit of €12.8 billion.

The process began in July 2015 and concluded in January of this year. “Instead of refining and transporting the old gold from the United States, the institution decided to sell it and acquire new ingots that meet current international standards in the European market.”

Now, all gold reserves are located in Paris. The country currently holds some 2,437 tons of the precious metal, “considered the fourth largest in the world.” Of this total, “134 tons correspond to old ingots and coins that the Bank of France plans to modernize to meet current standards by 2028.”

The United States leads the ranking of gold reserves, with approximately 8,133 tons. Germany is in second place, with around 3,360 tons of gold, and Italy is in third place, with reserves of 2,452 tons.

M.Pino

Source: actualidad.rt

(Reference image source: Andrej Sachov on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada France sold gold reserves in the US to buy their equivalent in Europe apareció primero en Bitfinance.

The Bank of France and the Monetary Authority of Singapore (MAS) are jointly testing digital currencies issued by central banks, according to a joint statement.

Both institutions ensured that the cross-border settlement and payment experiment carried out with a cbdc was successfully completed.

These tests were carried out thanks to the help of JPMorgan’s digital currency division, Onyx, who helped simulate cross-border transactions as they occur in the real world, but this time with cryptocurrencies.

These final tests are part of the Bank of France’s experiment program, to be able to successfully complete it by the end of 2021.

K. Tovar

Source: Banque de France

La entrada France and Singapore jointly test cbdc apareció primero en Bitfinance.

The director of the Bank of France, François Villeroy de Galhau, recently highlighted that in a period of no more than two years, Europe must already have a regulatory framework for cryptocurrencies.

“I must emphasize here the urgency: we don’t have much time left, one or two years. Both in terms of currencies and payments, in Europe we have to move as quickly as possible”, Villeroy said.

According to the manager, the priority of the region should be to prepare a series of rules for this sector, otherwise monetary sovereignty would be at risk.

However, the French made an express request to the EU regarding the adoption of a regulatory framework for the coming months, due to the increased use of cryptocurrencies within regional markets.

In January, the bank completed a pilot program for its own cbdc, subsequently reporting that investors had bought and sold approximately $ 2.4 million at the time, in simulated shares. The Bank of France has said it will carry out further tests of its digital currency this year.

K. Tovar

Source: Cointelegraph

La entrada Bank of France will soon regulate cryptocurrencies apareció primero en Bitfinance.