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US Presidential Hopeful Vivek Ramaswamy Criticizes SEC Over Crypto Regulatory Failures
7.12.2023
Source: Adobe US Republican presidential candidate Vivek Ramaswamy has slammed the Securities and Exchange Commission (SEC) criticizing the current crypto regulatory framework. During the fourth Republican presidential debate at the University of Tuscaloosa on Wednesday, Ramasamy expressed...
Florida Governor Ron DeSantis Says CBDC is a Direct Threat to Personal Freedom
7.12.2023
Image Source: AP Photo At a recent debate held at the University of Alabama, Republican candidates gathered to discuss various topics, including cryptocurrency regulation and Central Bank Digital Currency (CBDC). During the event, Florida Governor Ron DeSantis criticized the idea of a central bank...
Belarus Wants to Use Its CBDC to Evade Sanctions
6.12.2023
Source: christophe/Adobe Belarus wants to accelerate the launch of its CBDC as it looks to evade US and EU-led sanctions and let its firms trade with international partners. Per Belarus’ Ekonomicheskaya Gazeta, President Alexander Lukashenko could issue a CBDC-related verdict in the coming days....
Central Bank of Italy and South Korea Strike CBDC Partnership on IT and Payment Systems
5.12.2023
Source: AdobeStock The Central Bank of Italy and South Korea have announced a partnership to collaborate on key areas like payment systems and IT in the development of Central Bank Digital Currencies (CBDCs). A Dec 5 press release by La Banca d’Italia disclosed the agreement which would see both...
UK Treasury Advises Lower Limits on Retail Digital Pound Over Fears of Bank Runs
4.12.2023
The UK Treasury Committee advised proceeding slowly on a digital pound in a Dec. 2 report due to financial stability risks like sparking bank runs. Image by Alexey Novikov, Adobe Stock. The UK Treasury Committee released a report on December 2, advising the Bank of England to proceed cautiously...
UK Lawmakers Urge Lower Digital Pound Holding Limits
4.12.2023
They also want the government to tweak plans to make sure the CBDC’s design won’t preclude the possibility of paying interest on the digital pound
Digital Ruble Will Spark Russia’s ‘Biggest Monetary Reforms Since the 1990s’
4.12.2023
Source: Larisa/Adobe The launch of the Russian digital ruble will trigger the nation’s “largest monetary reforms since the 1990s,” a media report has claimed. Per ProGorod, Russia’s CBDC project will be the biggest transformative event in the nation’s economic history since the collapse of...
Chinese Firms Can Now Make Digital Yuan Housing Fund Payments
4.12.2023
Chinese firms can now use the digital yuan to pay into employee housing funds, as the nation’s banks look for new CBDC applications. Per the Guangzhou Daily (via the Guangzhou government’s website), the Guangzhou Housing Provident Fund Management Center has “launched digital yuan remittance...
Solomon Islands and Soramitsu Unveil Partnership To Launch CBDC Pilot
1.12.2023
Source: Pixabay The Central Bank of Solomon Islands has revealed a partnership with Japanese blockchain Soramitsu to launch a proof-of-concept for a CBDC named Bokolo Cash. In a Keynote speech on Tuesday, Solomon Islands Prime Minister Manasseh Sogavare said his country was embarking on the CBDC...
More Hong Kong Banks Set to Join Digital Yuan Pilot, Gov’t Confirms
1.12.2023
Source: dmitriy/Adobe Hong Kong’s government says more banks based in the country are preparing to join Mainland China’s digital yuan pilot. Mainland China’s central bank, the People’s Bank of China (PBoC), wants to expand its CBDC’s cross-border applications. And it seemingly wants even more...
Central Banks Aren't Sufficiently Ready for CBDC Risks: BIS Report
30.11.2023
The introduction of central bank digital currencies could have major implications on the stability, the report said
Canadians Support Cash Payments Over CBDCs: Report
30.11.2023
Source: Jason Hafso / Pexels Canadians are less enthusiastic about a Central Bank Digital Currency (CBDC) opting for traditional payment methods despite wider awareness, a new survey shows. The Digital Canadian Dollar Public Consultation Report published by the Bank of Canada highlighted...
Digital Canadian dollar fails to impress despite high awareness
30.11.2023
People who were aware of CBDCs were more reluctant to adopt the technology when compared to those who didn't know about it
BIS advises central banks to plan in advance for CBDC security
29.11.2023
From legal issues to hackers, launching a CBDC is fraught with risks, and BIS has a big list of them to consider
Project Tourbillon: CBDCs Can Meet Privacy Requirements, BIS Research Reveals
29.11.2023
Source: AdobeStock / Proxima Studio The Bank for International Settlement (BIS) has released the final report on Project Tourbillion, its privacy-inclined Central Bank Digital Currency (CBDC) project. A Nov 29 release shows a pathway to achieving privacy standards in CBDC deployment and usage with...
BIS Innovation Hub presents its ‘private CBDC’ project
29.11.2023
The Bank for International Settlement’s Project Tourbillon features two eCash prototypes, the first providing “unconditional payer anonymity” and the second being “more resilient” in security terms
Central Bank Project Shows CBDC Payments Can Be Private
29.11.2023
The project is a first step in exploring privacy, security and scalability for central bank digital currency design, a report on the BIS initiative said
Standard Chartered Bank Begins Offering Digital Yuan Exchange Services in China
29.11.2023
Standard Chartered Bank (China) has become one of the first foreign banks to participate in China’s central bank digital currency (CBDC) pilot. The bank explained that as an international bank rooted in the Chinese market for 165 years, Standard Chartered is optimistic about the development...
More Apex Banks Jump on e-CNY Pilot Trial Program – The Rise of Global CBDC Issuance?
28.11.2023
Source: AdobeStock China’s e-CNY pilot program is gaining significant attention as three additional banks join the initiative. Reports from local news outlets reveal that Hong Kong-based HSBC Bank, Hang Seng Bank, and Taiwan’s Fubon Bank are already providing access to the Asian...
Fiery Public Hearing on Digital Euro Sees Experts Diverge on Key Issues
28.11.2023
Expert witnesses answered lawmaker questions on holding limits, impact on banking systems and privacy for an EU central bank digital currency