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CNB's Prochazka Talks About Crypto-Assets, Czechia's Bond Auction Attracts Strong Demand

CZECHIA
  • CNB Bank Board member Jan Prochazka spoke at the conference on the crypto industry in the Senate yesterday. He did not comment on monetary policy, focusing on the subject matter of the event. Prochazka warned that "if crypto-assets do not meet the definition of regulated financial services (...) [then] they are not subject to financial regulation or supervision of the CNB."
  • One of Czechia's largest-ever bond auctions yesterday attracted strong demand amid the recent rise in yields. The Finance Ministry sold a total of CZK19.4bn of fixed-rate 2028 and 2034 notes, as well as a floating-rate note maturing in 2031, exceeding the target of CZK16.0bn. This came after the government boosted its borrowing plan for May to CZK30bn.
  • President Petr Pavel urged the government to put more effort into explaining its unpopular decisions to the public or else it will give ammunition to the extreme opposition. Pavel said he will have his next meeting with Prime Minister Petr Fiala next Tuesday and will present his suggestions then.

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