14 / 24 Relevant items tagged with #CBDC

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BIS gives CBDCs a thumbs up, crypto the middle finger in reports to G20 ministers

[Jul 11, 2023 3:00 PM] G20 finance ministers and central bank governors are meeting this month, and the Bank for International Settlements has findings to present.

IMF sees climate change, DAOs, CBDC as threats to Marshall Islands, urges reforms

[Jul 11, 2023 2:45 PM] Entering the crypto economy is not a good idea for a country with “capacity constraints” and no central bank, the IMF thinks.

China could benefit from yuan stablecoin over its CBDC - Circle CEO

[Jul 11, 2023 5:56 AM] China may have banned the use of cryptocurrencies but stablecoins might have a role to play in the proliferation of its national currency.

BOE governor trashes crypto, stablecoins in favor of ‘enhanced digital money’

[Jul 10, 2023 3:30 PM] A retail CBDC or “enhanced” digital money would support the singleness of money and settlement finality, Andrew Bailey said, but crypto isn’t money.

Research: There could be 24 CBDCs live by 2030

[Jul 10, 2023 5:04 AM] 93% of the central banks are already conducting research on central bank digital currencies, 68% are still not ready to launch their digital money.

15 Retail CBDCs Likely by 2030, BIS Study Says

[Jul 10, 2023 3:00 AM] A survey conducted by the Bank for International Settlements found 93% of central banks worldwide were engaged in digital currency work in 2022.

Ripple Labs to revolutionize real estate industry through tokenization

[Jul 8, 2023 12:28 AM] This innovative pilot program aims to enable users to tokenize real estate assets and utilize them as collateral for loans, leveraging Ripple’s CBDC platform.

NY Fed, banks wrap up regulated liabilities network proof-of-concept using wCBDC

[Jul 6, 2023 1:00 PM] The theoretical network would help the dollar maintain its status internationally with “game-changing” improvements in service.

India negotiates cross-border CBDC payments with global central banks

[Jul 5, 2023 4:15 AM] The CBDC aims to enhance the country’s potential for foreign trade with nations that lack U.S. dollar reserves.

Singapore Bank DBS Starts e-CNY Collection Platform

[Jul 5, 2023 1:36 AM] 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’

[Jul 4, 2023 11:30 PM] 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…

Former SEC Official Calls CBDC ‘the Most Absurd Financial Idea’ Citing Unnecessary Risks, Privacy, Cybersecurity Concerns

[Jul 4, 2023 5:30 PM] 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…

EU finalizes Data Act with a kill switch for smart contracts: Law Decoded, June 27–July 3

[Jul 3, 2023 2:00 PM] European Union lawmakers have agreed to move ahead with the controversial European Data Act, which has previously drawn criticism from the crypto community.

FedNow “early adopter” list contains no blockchains, but some may integrate later

[Jun 30, 2023 4:30 PM] Two blockchain networks had previously announced integration with the Fed’s instant payment service, but they were not found on a new list of certified providers.

Is Fednow the First Step Towards a Central Bank Digital Currency? Speculations Rise Ahead of Launch

[Jun 30, 2023 2:30 PM] In recent days, there has been a buzz surrounding the upcoming debut of the U.S. Federal Reserve’s Fednow project, slated for July 1, 2023. The discussions surrounding this topic have sparked speculation about whether this marks the central…

CBDCs aren't about solving today's problems — Australia's CBDC lead

[Jun 29, 2023 9:21 PM] Dilip Rao, a former Ripple executive who's now leading Australia’s CBDC pilot has been examining 14 possible use cases of central bank digital currencies.

ECB to Start Wholesale CBDC Settlement Trials in 2024

[Jun 29, 2023 3:04 AM] The central bank wants to see innovative interventions in financial markets – but under existing rules.

BIS, 3 central banks look at DeFi technology for wCBDC FX in interim project report

[Jun 28, 2023 2:30 PM] Project Mariana uses an automated market maker to reduce settlement risk and to create a liquidity pool in place of order books.

Swiss Central Bank to Launch Wholesale CBDC Soon Says Chairman Thomas Jordan

[Jun 28, 2023 5:30 AM] The Swiss National Bank (SNB) said it plans to issue a wholesale central bank digital currency as a pilot via SIX Digital Exchange, a subsidiary of SIX, an operator of infrastructure for the Swiss and Spanish financial centers. SNB chairman Thomas…

EU Publishes Digital Euro Bill Featuring Privacy Controls, Offline Guarantee

[Jun 28, 2023 4:29 AM] Officials want a digital payment system available to “everyone, everywhere, for free.”

Digital pound will be pseudonymous with a focus on privacy: BoE CBDC chief

[Jun 27, 2023 4:00 AM] The underpinning technology for the U.K.’s CBDC could use an alternative to blockchain technology.

Swiss central bank announces plans for wholesale CBDC pilot with ‘real money’: Report

[Jun 26, 2023 3:54 PM] Thomas Jordan, head of the Swiss National Bank, announced the project at a conference in Zurich; bank still feels “prudent” about a retail CBDC, though.

How could the Chinese economic crisis impact Bitcoin and crypto?

[Jun 26, 2023 7:00 AM] Cointelegraph analyst and writer Marcel Pechman explains how China’s economic weakness and Turkey’s interest rate hikes could impact the cryptocurrency market.

Latam Insights — IMF States Latam’s CBDC Interest Rises, Lula Emphasizes Bretton Woods Institutions ‘No Longer Function’

[Jun 25, 2023 7:30 PM] Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, the International Monetary Fund (IMF) reports interest in central bank digital currencies (CBDC) in Latam…

Brazilian Central Bank Adds Crypto Exchange Mercado Bitcoin in CBDC Pilot Including Mastercard

[Jun 23, 2023 2:27 PM] The approved consortium includes Mastercard, broker Genial, registrar Cerc and financial software fintech Sinqia as partners.

Crypto Ban May Not Be Best Approach to Balance Risk, Demand: IMF

[Jun 23, 2023 4:17 AM] The IMF recommended that countries focus on addressing the drivers of crypto demand and unmet digital payment needs in a post.

Issuing digital euro, or ‘Cash+,’ is probably a duty, French central banker says

[Jun 22, 2023 2:15 PM] François Villeroy de Galhau tried to soft sell the proposed euro CBDC to commercial bankers, emphasizing collaboration and the CBDC’s advantages.

Central Banks Propose CBDC, Stablecoin Standards With Amazon, Grab Running Trials

[Jun 21, 2023 8:26 AM] The Monetary Authority of Singapore (MAS), in collaboration with the IMF and other central banks, is proposing common conditions for retail payments with digital money on a distributed ledger.

Right to Pay With Cash Enshrined in Constitution of Slovakia Amid Digital Euro Fears

[Jun 21, 2023 4:30 AM] A member of the eurozone is amending its constitution in order to guarantee citizens the right to cash payments. The move comes amid growing fears that a digital version of the common European currency may eventually become the only means of…

Digital Euro: The Bill Is Ready but Politicians Aren’t Convinced

[Jun 21, 2023 2:00 AM] A plan to legislate for the central bank digital currency may still be on track for publication, but there is still significant political skepticism about the purpose.