Search
Ripple Releases Framework on the Future of CBDCs Highlights Benefits and Challenges
15.12.2023
Source: AdobeStock / photo_gonzo Blockchain payment firm Ripple has rolled out a whitepaper on the state of Central Bank Digital Currencies (CBDCs), their utility in cross-border payments as well as challenges towards adoption in several jurisdictions. The framework published on Dec 14 explains...
Bank of Korea Governor Calls for Action on CBDCs
15.12.2023
Source: AdobeStock South Korea’s central bank governor Lee Chang-yong is calling for action around central bank digital currencies (CBDC) which he says have become imperative and there is an urgency that can no longer be postponed. The Bank of Korea has not yet decided whether or not to issue...
Treasury Secretary Janet Yellen Discusses US Economy, Recession Risk, Soft Landing
15.12.2023
U.S. Treasury Secretary Janet Yellen believes that inflation has come down meaningfully but there’s still further to go for the Federal Reserve to achieve its 2% inflation target. She noted that the central bank has two risks to manage. “One is that inflation doesn’t come down...
Bitcoin Price Prediction as BTC Surpasses $42,000 Amidst Dovish Fed Signals – Is the Bull Run Back?
14.12.2023
Bitcoin’s recent price surge beyond $42,000 marks a significant turnaround in its market trajectory, particularly in light of dovish signals from the US Federal Reserve. The central bank’s decision to maintain steady interest rates, coupled with hints of potential rate cuts in 2024,...
Powell’s Fed Policy Criticized: Experts Claim ‘Phony Economy’ and ‘Credibility Destruction’ Post Rate Decision
14.12.2023
The Federal Reserve’s most recent session of the Federal Open Market Committee (FOMC) wrapped up, leaving interest rates as they were. The market, expecting rate reductions in 2024 and influenced by Fed Chair Jerome Powell’s dovish stance, reacted positively. This uplift was evident...
Nigerian Central Bank Warns Counterfeiters as Residents Reportedly Grapple With Cash Shortages
13.12.2023
As Nigeria grapples with cash shortages, the country’s central bank warned of the presence of counterfeit, higher-denomination naira banknotes. The bank has urged members of the public to report anyone suspected of falsifying or counterfeiting the banknotes. Central Bank Collaborates With...
ECB Study Reveals Minimal Environmental Impact of Euro Banknotes – How Does Crypto Compare?
13.12.2023
Source: Adobe / nmann77 It’s not just crypto: old-fashioned banknotes have a noticeable energy footprint worth reducing, according to the European Central Bank (ECB). In a newly published report, the central bank outlined how the elaborate physical infrastructure used to support eurozone cash...
City of Basel Settles Tokenized Bonds Using Wholesale CBDC
12.12.2023
The Swiss city of Basel recently settled a series of tokenized bonds using a wholesale central bank digital currency (WCBDC) as part of Helvetia III, a WCBDC pilot program. The system is designed to prioritize efficiency, as having on-chain funds bypasses the need for reconciling transactions with...
Russian Central Bank Tempers Talk of 2024 Digital Ruble Rollout
12.12.2023
Source: I/Adobe The Russian Central Bank is playing down talk of a 2024 rollout for its digital ruble – insisting that the coin will not be ready for nationwide use before 2025. Per Tass, the bank’s press service said that while it was ready to go ahead with an “expansion” of its existing 13-bank...
Fed Observer Jim Grant Foresees Long-Term High Rates as FOMC Meeting Approaches
11.12.2023
Market participants, including both investors and traders, have their attention keenly set on the upcoming Federal Open Market Committee (FOMC) meeting, slated for Dec. 13, 2023. There is widespread speculation about whether Fed Chair Jerome Powell will continue to uphold the current elevated...
Taiwan Completes Wholesale CBDC Technical Study, Central Bank Official Says
11.12.2023
The central bank is now gathering feedback and improving a platform design, according to Deputy Governor Chu Mei-lie
Bank of Russia States Digital Ruble Pilot Will Continue Until the End of 2024
11.12.2023
The Bank of Russia has offered an update on the future of the digital ruble pilot, the Russian central bank digital currency (CBDC). The bank’s press service clarified that the pilot will continue throughout 2024 and until the massification of the digital ruble usage, estimated to happen...
‘All Russians’ Will Be Able to Use Digital Ruble in 2024 – Moscow
11.12.2023
Source: petert2/Adobe The Russian government wants to fast-track the launch of the digital ruble – and now claims that all citizens will be able to use the CBDC in 2024. The Central Bank has previously claimed that Russians may have to wait until 2027 for a full nationwide rollout. But in recent...
China and Singapore Team Up to Allow Tourists to Spend Digital Yuan
10.12.2023
Singapore and China have teamed up on a pilot to allow tourists in both countries to spend China’s central bank digital currency, the digital yuan. “This will enhance convenience for travelers when making purchases during their overseas travel,” Singapore’s central bank...
Russian President Putin: Western Financial System Dying, Major Western Banks Will Be Deprived of Their Monopoly
10.12.2023
Russian President Vladimir Putin has stated that the Western financial system is “clearly becoming obsolete.” Furthermore, he said solutions involving blockchain and central bank digital currencies (CBDCs) “will pave the way for revolutionary shifts that will deprive the major...
Brazil to Discuss Digital Currency Usage for Financial Transactions in G20
8.12.2023
Brazil will address the subject of digital currencies and how they can improve the financial system for the Group of Twenty (G20). Roberto Campos Neto, president of the Central Bank of Brazil, stated he wants the G20 to consider the benefits of using these currencies for making financial...
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...
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...
Number of Russians Trading Crypto Is Falling, Says Central Bank
5.12.2023
Source: prokop.photo/Adobe Russia’s Central Bank says there has been a drop in the number of citizens trading crypto – with citizens staying away from major overseas trading platforms. Per RBC, the bank’s data shows Russians’ crypto activity “decreased in the second and third quarters of 2023.”...
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...