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Sanctions and trade: Iran aims to develop a central bank digital currency
14.2.2022
While the central bank announced its intention to launch a CBDC, exact details are still scarce
‘Bank of Jamaica Will Roll Out Digital Jamaican Dollar in 2022,’ Says Prime Minister
14.2.2022
According to an announcement from Jamaica’s Prime Minister Andrew Holness the Bank of Jamaica plans to “roll out” its central bank digital currency (CBDC) after the country’s successful pilot last year. Jamaica’s CBDC Is Due to Launch This Year Jamaica, the island...
IMF: Crypto Is No Match for Well-Designed Central Bank Digital Currencies
14.2.2022
The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, says that crypto assets and stablecoins are no match for well-designed central bank digital currencies (CBDCs). “If CBDCs are designed prudently, they can potentially offer more resilience, more safety...
Kenyan Central Bank Document Discusses Benefits and Risks Posed by CBDC — Public Asked to Comment
12.2.2022
Kenya’s central bank has acknowledged in a recently released document that a central bank digital currency could potentially benefit the country’s financial system. The bank, however, warned that rolling out a CBDC could also pose risks to the same. CBDC’s Impact on Financial...
Bank of Zambia Expects to Complete CBDC Study in Q4
12.2.2022
The Bank of Zambia has said it expects to complete its study seeking to determine the feasibility of launching a Central Bank Digital Currency (CBDC), before the end of the last quarter of 2022. Narrowing the Financial Exclusion Gap The Zambian central bank has said it expects to complete...
Zimbabwe’s Central Bank Exploring CBDC, Reiterates Opposition to Cryptocurrencies
8.2.2022
Zimbabwe’s central bank, which has expressed its opposition to cryptocurrencies in the past, announced yesterday it is presently exploring the feasibility of rolling out its own central bank digital currency (CBDC). The bank also said its regulatory sandbox continues to garner interest. CBDC...
US Senator: China’s Digital Currency Could Subvert US Sanctions, Enhance Surveillance Capabilities
8.2.2022
A U.S. senator has warned about China’s central bank digital currency. “Analysts have raised the eCNY’s potential to subvert U.S. sanctions, facilitate illicit money flows, enhance China’s surveillance capabilities, and provide Beijing with ‘first mover’...
Federal Reserve Bank of Boston and MIT Release Central Bank Digital Currency Research and Open-Source Code
5.2.2022
The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT) have jointly published the initial findings of their central bank digital currency (CBDC) research. They also published the open-source code for the CBDC project. Boston Fed and MIT Publish Initial Findings...
India’s Prime Minister Modi: Digital Rupee Will Strengthen Digital Economy, Revolutionize Fintech
3.2.2022
India’s prime minister, Narendra Modi, says an Indian central bank digital currency will strengthen the digital economy. The digital rupee will also revolutionize the fintech sector by creating new opportunities and lessening the burden of handling, printing, and the logistics of cash...
India Announces Upcoming Launch of Central Bank Digital Currency, Digital Rupee, to Be Issued by RBI
2.2.2022
The Indian government has announced the upcoming launch of the country’s central bank digital currency. The digital rupee will be issued by the Reserve Bank of India (RBI) in the financial year 2022-23, Indian Finance Minister Nirmala Sitharaman said during her budget speech. RBI’s...
China’s Central Bank Digital Currency Now Has 261 Million Users — $14 Billion in Digital Yuan Transactions Made
20.1.2022
China’s central bank digital currency now has 261 million unique users, according to an official of the central bank, the People’s Bank of China (PBOC). Furthermore, transactions worth 87.5 billion yuan ($13.78 billion) have been made using the digital yuan and more than 8 million...
Iran to reportedly pilot central bank digital currency soon
19.1.2022
The Central Bank of Iran hinted at a possible CBDC pilot soon without elaborating on the time frame of the program
British Lawmakers Say a CBDC Is Likely to Hurt Financial Stability — Digital Pound Benefits Overstated
14.1.2022
According to British lawmakers, a central bank digital currency (CBDC) is likely to raise the cost of borrowing while hurting financial stability. They insist the touted potential advantages of a digital pound are being overstated. Erosion of Privacy British lawmakers have said the use of a central...
US Lawmaker Launches Bill to Prohibit the Fed From Issuing Digital Currency Directly to Individuals
14.1.2022
A U.S. lawmaker has introduced a bill in Congress to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals. “It is important to note that the Fed does not, and should not, have the authority to offer retail bank accounts,”...
China’s Digital Yuan Wallet App Now in iOS and Android App Stores
5.1.2022
China’s central bank has released its digital currency wallet app ahead of the Winter Olympics. The wallet app for the digital yuan, also known as e-CNY, can now be downloaded from the iOS and Android app stores in the country. Digital Yuan Wallet App Now Downloadable From iOS and Android...
Jamaican Central Bank Says It Has ‘Successfully Completed CBDC Pilot’
4.1.2022
The Jamaican central bank successfully completed the pilot testing of its central bank digital currency, a statement from the bank has said. The statement however reveals that only one payment service provider participated in the pilot. Only One Payment Provider Participated in the Pilot The Bank...
India’s Central Bank RBI Discusses Digital Currency and CBDC Launch With Minimal Impact on Monetary Policy
29.12.2021
India’s central bank, the Reserve Bank of India (RBI), says a basic central bank digital currency (CBDC) model must be adopted initially and tested comprehensively to minimize the impact on the country’s monetary policy and banking system. The Indian apex bank sees several benefits...
Nigerian Experts: CBDC Still Unattractive to Users Despite Claim of ‘Excellent’ Adoption Rate
13.12.2021
Nigerian blockchain and cryptocurrency experts have suggested that many prospective users will only consider adopting the e-naira once the central bank has done enough to make the CBDC (central bank digital currency) an attractive option to use. E-Naira Still Unattractive to Users Some Nigerian...
UK Intelligence Chief Raises Concerns About Use of Digital Renminbi to Control Global Transactions
13.12.2021
The chief of the Government Communications Headquarters (GCHQ), one of the big three intelligence agencies in the U.K., has raised concerns regarding China and its digital renminbi. Sir Jeremy Fleming stated that the already existent Chinese CBDC could be used to collect information from users...
Central Banks of France, Switzerland and BIS Complete Cross-Border CBDC Trial
9.12.2021
Bank of France, the Swiss National Bank (SNB), and the Bank for International Settlements have successfully tested the application of wholesale central bank digital currency in cross-border payments. The project used distributed ledger technology and was realized with help from private firms....