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Russian Banks Baulk at Digital Ruble Implementation Costs
25.10.2024
Russian banks, particularly smaller ones, are unhappy about the high cost (between $1.25 million and $2 million) of integrating with the central bank’s digital ruble platform. This cost is seen as prohibitive for many banks, exceeding their IT budgets. The central bank has mandated different...
India amasses 5M central bank digital currency users
26.8.2024
India has taken a cautious approach to introducing a CBDC, while local authorities have also refused to regulate crypto transactions
India amasses 5M central bank digital currency users
26.8.2024
India has taken a cautious approach to introducing a CBDC, while local authorities have also refused to regulate crypto transactions
Taiwanese Central Bank to Test CBDC, Not Race to It
8.7.2024
Taiwanese Central Bank Governor Yang Chin-long stated that the development of digital currency (CBDC) is not an international competition, and being the first to launch does not guarantee success. He disclosed that the Central Bank of the Republic of China (Taiwan) will conduct three scenario tests...
AI makes it even easier for governments to surveil you — Nym CEO
26.6.2024
Nym CEO Harry Halpin tells The Agenda podcast that artificial intelligence makes it easier than ever to conduct surveillance against activists and dissidents
Ethiopia Approves CBDC Launch Draft Proclamation
20.6.2024
The Ethiopian Council of Ministers recently approved a draft proclamation that paves the way for the launch of a central bank digital currency (CBDC). The National Bank of Ethiopia (NBE) stated that the draft considers rapid technological advancements and draws from the experiences of fellow...
Ethiopia takes first step toward CBDC in economic reform
17.6.2024
The country plans to have a legal framework and regulatory sandbox in place for CBDC introduction “as necessary.”
Israel to Launch Digital Shekel Test for Payment
29.5.2024
The "digital shekel," also known as the central bank digital currency (CBDC), is being developed at a faster pace by the Bank of Israel (BoI). The bank recently provided an update on May 28 that included preparations for the payment use case of the CBDC through the 'Digital Shekel Challenge'...
Cambodia’s Central Bank Governor Believes Digital Currency Will Boost Fiat Use: Here’s Why
28.5.2024
In an announcement made on May 28, Central Bank Governor Chea Serey stated that through enabling cross-border QR payments, the Central Bank Digital Currency (CBDC) Bakong might boost the uptake of the Riel currency in Cambodia.
The post Cambodia’s Central Bank Governor Believes Digital...
US House Votes to Block Federal Reserve’s Digital Dollar Plans
24.5.2024
The US House on Thursday approved a bill that prohibits the Federal Reserve from issuing a digital dollar, or central bank digital currency (CBDC), without explicit authorization from Congress.
The post US House Votes to Block Federal Reserve’s Digital Dollar Plans appeared first on Cryptonews
CBDC Anti-Surveillance State Act passes US House in partisan vote
23.5.2024
The potential misuse of the CBDC technology trumped arguments about innovation or even good legal drafting
Hong Kong digital yuan pilot lacks P2P capabilities
17.5.2024
While Hong Kong residents can sign up for a digital yuan (e-CNY) wallet with a phone number, the CBDC is currently restricted to cross-border transactions and cannot be used for person-to-person transfers within Hong Kong
Despite $250 Billion Worth of Transactions, Digital Yuan Users Prefer Physical Cash
13.5.2024
Some participants of China’s Central Bank Digital Currency (CBDC) pilot program, specifically state workers paid in digital yuan (e-CNY), are quickly converting their digital currency to physical cash due to concerns over its utility and lack of incentives like interest on savings. Despite...
New Zealand Begins Plans To Introduce CBDC
17.4.2024
An open survey on "Digital Cash," a potential central bank digital currency (CBDC), has begun, according to the Reserve Bank of New Zealand (RBNZ). This was revealed in a consultation document that the central bank published on April 17.
The post New Zealand Begins Plans To Introduce CBDC appeared...
UAE Introduces CBDC Implementation Strategy – Here’s What’s Inside
26.3.2024
The UAE's central bank has announced a comprehensive strategy to implement a central bank digital currency (CBDC) for retail and wholesale use. In partnership with technology providers R3 and G42 Cloud, the UAE envisions that digital dirham will streamline cross-border transactions, enhance...
Zano Blockchain’s Hard Fork Facilitates Privacy Coin Creation, Introduces Confidential Assets
25.3.2024
The Zano blockchain’s recently completed Zarcanum hard fork (HF4) will enable users and organizations to create custom tokenized assets that meet their specific needs. These custom tokenized assets or confidential assets, will be untraceable on the Zano blockchain. The team believes that...
Sweden’s Riksbank Releases Final Report on CBDC Project
21.3.2024
Sweden’s Riksbank has released its final report on its central bank digital currency (CBDC), the e-Krona, which focused on offline payments.
The post Sweden’s Riksbank Releases Final Report on CBDC Project appeared first on Cryptonews
Global Surge in CBDC Exploration Leaves US Playing Catch-Up: Study
14.3.2024
An Atlantic Council study showed that 134 countries, or 98% of the global Gross Domestic Product (GDP), are currently exploring a central bank digital currency (CBDC). This number has surged from just 35 since May 2020.
The post Global Surge in CBDC Exploration Leaves US Playing Catch-Up: Study...
Israel Plans to Launch Interest-Bearing CBDC – Here’s What You Need to Know
12.3.2024
On March 11, the Central Bank of Israel unveiled plans for a Central Bank Digital Currency (CBDC). Known as ‘digital shekel’ the unique CBDC will be interest-bearing, marking a departure from existing digital currencies.
The post Israel Plans to Launch Interest-Bearing CBDC – Here’s What...
Digital Euro Association Partners With HBAR Foundation to Boost Understanding of CBDCs and Stablecoins
28.2.2024
The Digital Euro Association (DEA) has entered into a partnership with the HBAR Foundation. This collaboration aims to bolster its comprehension of central bank digital currencies (CBDCs) and stablecoins. Although this partnership marks a significant milestone in the digital currency landscape...