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European Central Bank: Digital Euro to Offer 'Maximum Privacy,' Though Not as Much as Cash
25.4.2023
A new central bank digital currency (CBDC) in Europe would be designed with privacy in mind, although it would never be as private as cash is, according to a European Central Bank (ECB) official.
Speaking before the European Parliament’s Committee on Economic and Monetary Affairs on Monday,...
Ugandan High Court Rules to Uphold Central Bank’s Crypto Prohibition
25.4.2023
A Judge of a High Court in Uganda recently dismissed an application which sought to quash a Bank of Uganda directive that barred licensed entities and individuals from facilitating crypto transactions. In his ruling, Justice Musa Ssekaana insisted that the central bank’s crypto prohibition...
China Pushes Digital Yuan for Wage Payments in Changshu
25.4.2023
Changshu, a city in China with more than 1.5 million inhabitants, will pay public workers’ wages with the Chinese central bank digital currency (CBDC), the digital yuan. The move marks an acceleration of the adoption plans that Beijing has for the digital currency, which has been included...
Report: Zimbabwe’s Central Bank Says Upcoming Gold-Backed Digital Currency to Help Reduce Demand for US Dollar
25.4.2023
The governor of the Zimbabwean central bank, John Mangudya, recently revealed that his institution is planning to introduce a gold-backed digital currency. According to the governor, the soon-to-be-introduced gold-backed digital currency is expected to help diminish local residents’ demand...
Indonesia Is Following BRICS De-Dollarization Lead, Says Central Bank Governor
25.4.2023
Indonesia is following the BRICS’ lead in de-dollarization and shifting away from the U.S. dollar in trade settlements and financial transactions, according to the country’s central bank governor. The BRICS nations are working on creating a common currency to reduce their USD reliance....
Stablecoins must be programmable to counter CBDCs
25.4.2023
Decentralization enables programmability — and that allows stablecoins to wield a key advantage over central bank digital currencies
Zimbabwe's Central Bank Plans Gold-Backed Digital Currency to Stabilize Local Economy
24.4.2023
The central Reserve Bank of Zimbabwe (RBZ) plans to introduce a gold-back digital currency, meant to be used as legal ledger within the country.
The new currency will be used for transactions within the South African nation as part of its plans to stabilize the local currency, The Sunday Mail...
Bank of Korea given right to investigate local crypto firms: Report
24.4.2023
The South Korean central bank will be able to access crypto transaction data from exchanges operating in the country
Republicans Seek to Repeal Biden’s Inflation Reduction Act in Exchange for Raising US Debt Limit
23.4.2023
There has been a lot of commentary concerning the U.S. raising its debt limit, as Treasury secretary Janet Yellen said last month that a U.S. default would be “devastating,” and European Central Bank president Christine Lagarde warned it would be a “major disaster” if...
Zimbabwe's central bank to issue gold-backed digital currency: Report
23.4.2023
The Reserve Bank of Zimbabwe plans to introduce a gold-backed digital currency as legal tender in a bid to stabilize its local currency
Russia to Work With Digital Currencies of Other Nations
23.4.2023
The platform developed for the digital ruble will be able to operate with different state-issued digital currencies, the Bank of Russia said. Mechanisms for interaction with digital coins minted by the central banks of other countries are already under development, the monetary authority unveiled....
Report: Korean Central Bank to Gain Right to Probe Virtual Asset Entities After Financial Regulator Drops Opposition
22.4.2023
The South Korean central bank is set to be granted the right to investigate virtual assets after the Financial Services Commission (FSC) dropped its opposition to the move. According to a report, the FSC dropped its opposition to the central bank’s bid after it was accused of seeking to make...
Foreign trade and pensions: What’s next for Russia’s CBDC project?
20.4.2023
The Russian digital ruble pilot launch was delayed until at least May, but the government still hopes to kick off the currency in 2024
Russia Plans to Mine Crypto for Cross-Border Deals, Says Central Bank
19.4.2023
Bank of Russia is planning to allow mining and using cryptocurrencies for cross-border trade, the regulator said
Gold Slides on Higher US Treasury Yields, Dollar
19.4.2023
Prices of gold, and other precious metals, fell on Wednesday due to stronger U.S. yields and national currency. The decline comes on the backdrop of expectations of new interest rate increases next month amid persistent inflation in the United States and elsewhere. Gold and Silver Slip as Investors...
Russia Developing Payment Gateways With Partners Like Turkey, Mulling Crypto Settlements
19.4.2023
Bank of Russia is building a system of gateways with foreign payment networks and is now working with Turkey in this field. Russia’s monetary authority would also allow the experimental use of cryptocurrencies in foreign economic activities, its head was quoted as saying. Russia’s Central Bank...
ECB President Lagarde Warns of ‘Major Disaster’ If US Defaults on Debt Obligations
18.4.2023
There is a lot of discussion lately about the U.S. government’s debt ceiling and whether Congress will act before defaulting. In a recent interview, Christine Lagarde, the president of the European Central Bank (ECB), said she is confident the U.S. can maintain its debt obligations. However...
Russian Central Bank OKs ‘Experimental’ Use of Crypto in International Trade – More Crypto Adoption Incoming?
18.4.2023
The Russian Central Bank has said it is prepared to allow trading firms to do international business in a controlled “experimental” environment.
Per RIA Novosti, the Central Bank Governor and long-serving Vladimir Putin ally Elvira Nabiullina has come to terms with the fact that “cryptocurrency...
Israel's Central Bank Outlines Scenarios for Issuing a Digital Shekel
18.4.2023
The bank made it clear that no decision has yet been made on issuing a central bank digital currency
Hong Kong’s Banks Are Taking Lead on What e-HKD Will Look Like: Source
18.4.2023
At least one bank is leaning towards developing it on a permissioned blockchain