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GOP Sen. Ted Cruz Proposes Ban on a CBDC
22.3.2023
The effort by the Texas senator adds to a similar state-level measure proposed earlier this week by Florida Governor Ron DeSantis
FL Gov. DeSantis Proposes Ban on Central Bank Digital Currency Use as Money
21.3.2023
Governor Ron DeSantis of the U.S. state of Florida has proposed legislation to prohibit the use of central bank digital currency (CBDC) as money in his state. “The Biden administration’s efforts to inject a centralized bank digital currency is about surveillance and control,”...
Florida Governor Ron DeSantis Proposes Law to Ban CBDCs
20.3.2023
The Biden Administration is currently studying the possibility of introducing a central bank digital currency
Republican Congressman Tom Emmer Queries FDIC on Alleged Efforts to Purge Crypto Activity from US
16.3.2023
On Wednesday, Tom Emmer, the U.S. Republican congressman from Minnesota, revealed he sent a letter to Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation (FDIC), regarding reports that the FDIC is “weaponizing recent instability” in the U.S. banking industry to “purge legal...
India, UAE Collaborate to Boost Cross-Border Central Bank Digital Currency Transactions
16.3.2023
India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency...
Central Bank Digital Currency Transactions to Reach $213 Billion Annually by 2030, Research Shows
15.3.2023
A new study shows that payments via central bank digital currencies (CBDCs) are expected to reach $213 billion annually by 2030. Furthermore, 92% of the total value transacted via CBDCs will be paid domestically, the research found. $213 Billion Annually Research and market intelligence firm...
Fed Chair Powell Provides Update on US Central Bank Digital Currency
10.3.2023
Federal Reserve Chairman Jerome Powell has provided an update on the Fed’s central bank digital currency (CBDC) work in a hearing before the House Financial Services Committee. While stating that the Fed is “making progress on technological issues,” Powell stressed that...
BIS Releases Report On ‘Project Icebreaker’ — Develops Cross-Border Retail CBDC Payment Model
8.3.2023
The Bank for International Settlements (BIS) has released a report summarizing the “Project Icebreaker” trial, which explored the potential advantages and difficulties of utilizing a retail central bank digital currency (CBDC) in cross-border payments. The experiment was designed...
India’s Central Bank Digital Currency Will Act as Alternative to Cryptocurrency, Says RBI Official
4.3.2023
An official of India’s central bank, the Reserve Bank of India (RBI), says that the country’s central bank digital currency (CBDC) will act as an alternative to cryptocurrency. He stressed that the digital rupee must possess all the attributes of physical currency, including anonymity....
United States CBDC would ‘crowd out’ crypto ecosystem: Ex-Biden advisor
1.3.2023
Daleep Singh argues that crowding out cryptocurrencies by establishing a CBDC in the United States would protect the country's national interests
Nigerian Central Bank Seeks New CBDC Tech Partner — Bank Urged to Improve E-Naira User Experience
24.2.2023
More than a year after it launched its central bank digital currency with partner Bitt Inc, the Central Bank of Nigeria is reportedly seeking a new technology partner. The new partner is expected to help the central bank implement a system which gives it greater control of the digital currency....
Bank of Japan to Launch Digital Yen CBDC Pilot Later This Year
22.2.2023
The Bank of Japan is preparing to launch a pilot test for a digital yen, its central bank digital currency (CBDC), later this year. Shinichi Uchida, executive director of the Bank of Japan, explained that the goals of this new pilot are to test the technical feasibility of the currency and...
Zambia Testing Technology to Regulate Cryptocurrency — Government Minister
19.2.2023
The Bank of Zambia and the country’s securities regulators are currently testing the technology to regulate cryptocurrencies, a Zambian government minister has said. According to Felix Mutati, cryptocurrency is a revolutionary technology that embodies a future his country desires to achieve....
Central Bank of Brazil President States Digital Real Pilot Is Imminent
17.2.2023
The president of the Central Bank of Brazil, Roberto Campos Neto, has clarified the status of the development of the Brazilian central bank digital currency (CBDC), the digital real. Campos Neto stated that the pilot test will start now and that banks will have to digitize more of their balances...
UAE Launches ‘Financial Infrastructure Transformation’ Program; CBDC Among 9 Key Objectives
14.2.2023
On Feb. 12, 2023, the Central Bank of the United Arab Emirates (CBUAE) announced the launch of a new initiative called the “Financial Infrastructure Transformation Program,” which has nine key objectives. One of these objectives is the research and development of a central bank digital...
China’s digital yuan gets smart contract functionality alongside new use cases
20.1.2023
China's central bank digital currency (CBDC) has seen new use cases in recent days, including buying securities and making offline payments
East African Community to Decide on Regional Central Bank Launch in 2023
19.1.2023
The East African Community (EAC) will decide during the course of the year 2023 when and where it will locate the envisioned regional central bank, the regional intergovernmental organization’s Peter Mathuki has reportedly said. The setting up of the regional central bank is expected to help...
Tanzanian Central Bank Adopts ‘Phased and Risk-Based Approach to Adoption of CBDC’
17.1.2023
After months of research, the Tanzanian central bank announced recently that it had chosen a more cautious and risk-based approach towards the adoption of its central bank digital currency (CBDC). During the research phase, the central bank said it paid particular attention “to risks...
Tanzania ‘cautious’ on CBDC adoption after initial research
16.1.2023
The Bank of Tanzania is waiting for the conclusion of its research into CBDCs before making a final decision on adoption
Russia to begin work on CBDC settlement system in Q1 as sanctions endure: Report
10.1.2023
The country's central bank will begin studying two possible cross-border CBDC settlement models this quarter