ECB Official Says Central Banks Need to “Go On-Chain” as Blockchain Reshapes Finance

European Central Bank Executive Board member Isabel Schnabel has urged central banks to embrace blockchain technology, arguing that they need to move “on-chain” to remain at the centre of the rapidly changing financial system. Speaking at the Jackson Hole Economic Policy Symposium on August 28, Schnabel said central banks should bring central bank money into…

Japan Seeks Tax Filing Exemption for Trust-Based Stablecoins

Japan’s Financial Services Agency (FSA) is proposing to remove certain tax filing requirements for trust-based stablecoins as part of the country’s fiscal 2027 tax reform plans. The proposal is aimed at making it easier for these digital assets to function as everyday payment instruments, particularly as stablecoin adoption grows in Japan. Under Japan’s current rules,…

Bank of England Governor Warns AI Could Become a Major Threat to Global Financial Stability

Bank of England Governor Andrew Bailey has warned that increasingly powerful artificial intelligence models could significantly increase cyber risks and threaten the stability of the global financial system. Bailey, who also chairs the Financial Stability Board (FSB), raised the warning in a letter to G20 finance ministers and central bank governors ahead of their meeting…

Senegal Becomes First African Country to Locally Manufacture Generic Sickle Cell Treatment

Senegal has made a major breakthrough in the fight against sickle cell disease, becoming the first African country to locally manufacture a generic treatment for the condition. The medicine, branded DREPAF, is a generic version of hydroxyurea, a widely used treatment that can help reduce painful crises, hospitalisations and the need for blood transfusions among…

Trump Announces New Plan to Lower Prescription Drug Prices in the U.S.

U.S. President Donald Trump has announced new agreements with nine pharmaceutical companies aimed at reducing the cost of prescription medicines for Americans. The deals, announced Monday, expand the Trump administration’s “Most Favored Nation” (MFN) pricing strategy, which seeks to bring U.S. drug prices closer to the lowest prices paid in other developed countries. The companies…

US Strikes Iran After Detecting Preparations to Launch Sea Mines Into Strait of Hormuz

The United States says it launched strikes against Iranian military positions after detecting preparations to deploy sea mines into the strategically important Strait of Hormuz. U.S. forces struck two Iranian launchers on Larak Island on Sunday, August 30, after Iran’s Islamic Revolutionary Guard Corps (IRGC) was reportedly observed preparing to launch rockets carrying sea mines…