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Test and Deploy: A New Era for CBDCs
17.1.2024
Gold Rush Continues – Central Banks Purchased 44 Tonnes in November
8.1.2024
Krishan Gopaul, senior analyst of the World Gold Council, revealed that central banks kept adding gold to their reserves during November. According to public records and reports from the International Monetary Fund (IMF), central banks added 44t of gold to their coffers, with the Central Bank...
Prohibition of Cash Withdrawals From VASPs Operated Accounts May Contradict Central Bank’s Cashless Policy — Nigerian Lawyer
7.1.2024
Nigerian fintech lawyer Senator Ihenyen said the new central bank guidelines which bar the withdrawal of cash from accounts operated by virtual asset service providers (VASPs) seem “reasonable and understandable.” The lawyer however believes an “outright” prohibition of cash...
41% of Central Banks Expect to Have Operational CBDCs by 2028 — Study
26.12.2023
Some 41% of central banks that participated in the Official Monetary and Financial Institutions Forum (OMFIF) study said they expect to have an operational central bank digital currency (CBDC) by 2028. The survey found that the sentiment towards CBDCs is turning positive with 30% of the respondents...
Report: Bank of Korea Chief Says Growing Use of Stablecoins Threatens Central Bank Operations
19.12.2023
The Bank of Korea governor Rhee Chang-yong recently stated that the growing stablecoin use threatens the operations of central banks. The possible involvement of global networks like Visa and Mastercard in the stablecoin business will likely undermine the monetary independence of countries like...
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 Sees CBDC Introduction as Case for 'Urgency:' Report
15.12.2023
Stablecoins' widespread usage and frequent instability could lower the effectiveness of central bank monetary policies, Rhee Chang-yong said
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
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 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
Fed’s ‘Beige Book’ Paints Dim Economic Picture, Experts Warn Central Banks ‘Have No Ability to Save Anything’
30.11.2023
On Wednesday, following the market’s closure, major U.S. indices concluded the day unchanged, coming off a rise the previous day. This surge was influenced by the dovish remarks made on Tuesday by Federal Reserve Governor Christopher Waller. Observers of the market infer that Waller’s...
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
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
Central Banks Have No Interest in Personal Data, BIS Official Says While Promoting CBDCs
28.11.2023
The Bank for International Settlements has been calling on countries to prepare for CBDCs as governments face backlash over privacy concerns
Economist Steve Hanke: US Dollar Weaponization Has Powered Record Central Bank Gold Purchases
28.11.2023
Steve Hanke, professor of applied economics at Johns Hopkins University, has discussed how U.S. policies have driven central bank gold purchases to record levels this year. In an interview, Hanke stated that these purchases were motivated by the weaponization of fiat currencies like the dollar...
Top Global Banks Reveal $10.27 Billion in Crypto, XRP Among Top Investment
21.11.2023
Source: Adobe Major global central banks, spanning Europe, North America, and other regions, have revealed a significant investment in crypto, with XRP emerging as a preferred digital asset. According to the Basel Committee on Banking Supervision (BCBS), a global regulatory authority on banks,...
Bank of America: CBDC Adoption Grows Globally, but Digital Dollar Not Imminent
15.11.2023
Source: iStock/E_Y_E The United States is working on a digital dollar but is unlikely to actually launch one anytime soon, according to Bank of America. In a Monday report, analysts led by Alkesh Shah said that central banks for 67% of countries are exploring central bank digital currencies...
Robert Kiyosaki: Fiat Money Isn’t Safe, Investors Must Protect Themselves From Central Bankers
15.11.2023
Rich Dad Poor Dad author Robert Kiyosaki has cautioned that fiat money is not safe, emphasizing that central banks are buying gold to save themselves. He urged investors to safeguard themselves against central bankers and reiterated his advice to invest in gold, silver, and bitcoin. Is Fiat Money...
BIS General Manager urges central banks to “lead innovation” for CBDCs
8.11.2023
Agustín Carstens called CBDCs the “central element” of the central bank leadership in innovation
Central Bank Gold Demand Swells in Q3 Amid Global Unrest
4.11.2023
Central banks around the world maintained their appetite for gold in the third quarter of 2023, with their purchases totaling 337 metric tons, the World Gold Council’s (WGC) third-quarter report shows. Analysts from the council suggest that this steady central bank activity is indicative...