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Beijing Set to Debut ‘New Digital Yuan Application Scenarios’ – What Next for the CBDC?
7.7.2023
Beijing, China, says it will introduce “new digital yuan application scenarios,” and wants to take the lead in the adoption of the central bank digital currency (CBDC).
Per the Securities Times, the comments were made by Zhao Wei Jiu, the Deputy Director of the Beijing Local Financial Supervision...
NY Fed, banks wrap up regulated liabilities network proof-of-concept using wCBDC
6.7.2023
The theoretical network would help the dollar maintain its status internationally with “game-changing” improvements in service
Chinese Banks Join Beijing’s Efforts to Integrate CBDC With Social Security Cards
6.7.2023
Chinese state-owned banks are set to join efforts to integrate the nation’s central bank digital currency (CBDC), the digital yuan, with government-issued social security cards.
Late last month, the Chinese Ministry of Human Resources and Social Security said it wanted to “explore and promote”...
Brazil’s Central Bank Uploads CBDC Files to GitHub – Digital BRL Rollout Imminent?
6.7.2023
The Brazilian Central Bank has uploaded a large collection of central bank digital currency (CBDC)-related documents to GitHub – as the nation edges closer to a digital real rollout.
The collection of documents was uploaded to the bank’s GitHub page on June 3, but a number of files were also...
Today in Crypto: NFT Royalties Reach Lowest Point in Two Years, Two Teens Arrested for BTC and ETH Scam, India and 18 Central Banks Discuss Using Digital Rupee for Cross-Border Payments
5.7.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: NFT Royalties Reach Lowest Point in Two Years, Two Teens Arrested for BTC and ETH Scam, India and...
DBS Bank China Launches Digital Yuan Merchant Collection Solution
5.7.2023
Crypto-friendly bank DBS announced the launch of a digital yuan merchant collection solution for business clients.
The new payment solution will allow mainland Chinese businesses to receive payments in the central bank digital currency (CBDC).
The DBS merchant collection platform allows...
India Fosters Global Cross-Border Payments For The Digital Rupee
5.7.2023
The Reserve Bank of India (RBI) is on course to expand the frontiers of its Central Bank Digital Currency (CBDC), the “digital rupee” as it negotiates with foreign countries to adopt cross-border payment systems.
The bank is currently in talks with its counterpart in at least 18 countries on ways...
Current CBDC Models Aren't Viable for Everyday Transactions: Copper's Research Head
5.7.2023
In an interview with The Block, Fadi Aboualfa, the head of research at crypto brokerage Copper, expressed that the existing Central Bank Digital Currency (CBDC) models are "not a viable cash equivalent that people could use in daily transactions."
Aboualfa raised doubts about CBDCs despite...
India negotiates cross-border CBDC payments with global central banks
5.7.2023
The CBDC should enhance the country's potential for foreign trade with nations that lack U.S. dollar reserves
Singapore Bank DBS Starts e-CNY Collection Platform
5.7.2023
The newly launched merchant collection solution allows businesses automated settlement of e-CNY into their CNY bank deposit accounts
US Representative Warren Davidson: ‘CBDC Corrupts Money Into a Tool for Coercion’
5.7.2023
Warren Davidson, U.S. representative and part of the House Committee on Financial Services, has disregarded issuing a central bank digital currency (CBDC) in the country. Davidson explained that CBDCs corrupt money into a “tool for coercion” and detailed that there was no legal way...
Former SEC Official Calls CBDC ‘the Most Absurd Financial Idea’ Citing Unnecessary Risks, Privacy, Cybersecurity Concerns
5.7.2023
The U.S. Securities and Exchange Commission’s (SEC) former head of internet enforcement has called the creation of a central bank digital currency (CBDC) “the most absurd financial idea in the history of monetary policy.” He warned that a central bank digital currency not only creates...
Crypto Will Benefit from Bank-Issued Stablecoins, aka Deposit Tokens, Says DAAA’s Bernard Blaha
4.7.2023
In an interview with Cryptonews, Bernhard Blaha, co-founder of the Austrian Digital Asset Association (DAAA) and CEO of decentrally governed organization (DGO) The People's SCE, discussed the new type of digital coin: deposit tokens.
He explained the key differences between deposit tokens...
Chinese city of Jinan accepts CBDC payments for bus rides
4.7.2023
The Chinese city of Jinan is making a push for CBDC adoption by implementing digital yuan payments across its entire bus network
UK Finance: Digital Pound Holdings Should Be Limited to £5,000 to Avoid Panic
4.7.2023
U.K. Finance, one of the largest finance membership organizations in the U.K., has issued its recommendations to the Bank of England regarding the issuance of a digital pound. The organization stated that individual holdings of the proposed central bank digital currency (CBDC) should be capped...
EU finalizes Data Act with a kill switch for smart contracts: Law Decoded, June 27–July 3
3.7.2023
European Union lawmakers have agreed to move ahead with the controversial European Data Act, which has previously drawn criticism from the crypto community
Surveys Reveal Strong CBDC Skepticism in Canada and UK
3.7.2023
Surveys conducted in Canada and the UK demonstrate that skepticism towards central bank digital currencies (CBDCs) is prevalent across the globe.
According to recent studies conducted by Trezor and WealthRocket, people in both Canada and the UK have reservations about embracing CBDCs as...
Latam Insights — Argentina Settles IMF Payment in Yuan; Brazilian CBDC to Be Launched in 2024
3.7.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Argentina settles part of its $44 billion debt with the International Monetary Fund (IMF) using the Chinese yuan, Central Bank of Brazil officials estimate...
Jinan, China: All Our Buses Accept Digital Yuan – And CBDC Customers Get Discounts
3.7.2023
Jinan, China, says all of its bus routes now accept digital yuan pay, and will incentivize adoption by granting discounts to central bank digital currency (CBDC)-paying passengers.
Per the news outlet Shunwang-Jinan Daily (via e23), the city said that all of its bus routes’ software and card...
Six Clovers Unveils Versal Network for Cross-Border Crypto Payments in Stablecoins and CBDCs
2.7.2023
On June 29, Six Clovers, a company founded by former PayPal business and technology leaders Jim Nguyen and Nas Kavian, introduced the Versal Network on Sui blockchain.
This decentralized global payments network aims to streamline cross-border transactions for businesses worldwide. By utilizing...