21 / 25 Relevant items tagged with #CBDC

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Anti-CBDC bill in the US, no algo stablecoins for Canada: Law Decoded, Feb. 20–27

[Feb 27, 2023 1:30 PM] United States Representative Tom Emmer introduced legislation in the U.S. House of Representatives that could prevent the Federal Reserve from issuing a central bank digital currency.

Brazilian Digital Real Passes Public Blockchain Pilot Test With Flying Colors

[Feb 27, 2023 6:30 AM] A tokenized version of the digital real, the Brazilian central bank digital currency (CBDC), has passed a public blockchain pilot test successfully. The test, which was carried out by Mercado Bitcoin, a local exchange, using the Stellar network…

U.S. Treasury Janet Yellen calls for 'strong regulatory framework' for crypto activities

[Feb 25, 2023 2:07 PM] On the sidelines of the G20 meeting, U.S. Treasury Secretary Janet Yellen said the country is not pushing for an outright banning of crypto activities.

IMF offers Jordan’s central bank recommendations for implementing retail CBDC

[Feb 24, 2023 3:40 PM] The IMF mission spent three months studying conditions in the country, which is preparing to produce a feasibility report.

Stablecoins Market Cap Continues To Slump – Here’s Why

[Feb 23, 2023 8:37 AM] Stablecoins are cryptocurrencies built to withstand the market’s volatility as it is backed by a specific asset. In the case of most stablecoins, the US dollar backs the cryptocurrency, pegging the coin’s value to one USD. Investors use stablecoins…

BIS head describes ideal ‘unified ledger’ for central banks and other financial users

[Feb 22, 2023 3:33 PM] peaking in Singapore, Agustín Carstens described a ledger that would accommodate a variety of public and private projects in discrete but connectable parts.

This CBDC Act Will Prevent The US Government From Surveilling Citizens’ Finances

[Feb 22, 2023 2:30 PM] Tom Emmer, the House Majority Whip serving as the representative for Minnesota’s 6th congressional district for the last seven years, is introducing the Central Bank Digital Currency (CBDC) Anti-Surveillance State Act to prevent the…

U.S. Legislators Introduce Bill That Would Prohibit Creation Of An American CBDC

[Feb 22, 2023 12:05 PM] The bill would effectively put an end to the debate over the creation of a Federal Reserve-issued CBDC.U.S. Congressman Tom Emmer (R-MN) has introduced a bill that would prohibit the Federal Reserve from issuing a CBDC directly to anyone. The bill…

US lawmaker introduces bill aimed at limiting Fed's authority on digital dollar

[Feb 22, 2023 10:15 AM] If passed, the legislation could prohibit the Fed from issuing a digital dollar “directly to anyone”, as well as bar the bank from implementing monetary policy based on a CBDC.

Bank of Japan to Launch Digital Yen CBDC Pilot Later This Year

[Feb 22, 2023 3:30 AM] 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…

eNaira is ‘crippled‘: Nigeria in talks with NY-based company for revamp

[Feb 21, 2023 7:10 AM] After multiple attempts to create an efficient digital currency, the Central Bank of Nigeria is turning to a New York tech firm to revamp the underlying technology.

India expands national payment network to Singapore: What’s in it for crypto?

[Feb 21, 2023 3:31 AM] One of the banking partners in the cross-border remittance service is also part of the government’s CBDC program.

Expert Predicts Looming Economic Collapse as BRICS Nations Unite Against the Dollar

[Feb 20, 2023 3:00 PM] Andy Schectman, CEO of Miles Franklin Precious Metals Investments, explained in a recent interview that the five leading emerging economies—Brazil, Russia, India, China, and South Africa, collectively known as BRICS nations—are “coalescing…

Bank of Russia to Start Testing Digital Ruble With Real Users on April 1

[Feb 19, 2023 11:30 PM] The Central Bank of Russia plans to launch test operations with digital ruble transactions between real customers at the beginning of April. More than a dozen banks will join the upcoming stage of the pilot project, a high-ranking representative of…

San Francisco federal bank eyes CBDC system development, reveals job posting

[Feb 19, 2023 3:51 AM] Within 24 hours of the job posting, 45 applicants have shown interest in joining the federal government to build an in-house CBDC.

Russia to roll out CBDC pilot with real consumers in April

[Feb 17, 2023 7:49 AM] Russia’s central bank is preparing to launch the first consumer pilot for the digital ruble in collaboration with 13 local banks.

The Bank of Japan to launch its CBDC pilot before May

[Feb 17, 2023 3:58 AM] The Bank launched a pilot program for “digital yen” in April after finishing its proof-of-concept testing, which began in 2021.

Oman to establish regulatory framework for virtual assets

[Feb 17, 2023 1:26 AM] Despite the warnings about investing in digital assets by Oman’s central bank, about 65,000 residents hold cryptocurrencies.

Ukraine Speeds Up Digital Hryvnia Project, Plans Pilot for This Year

[Feb 14, 2023 11:00 PM] Ukrainian authorities are speeding up the development of the electronic hryvnia, a high-ranking government official indicated. The executive power in Kyiv is now in talks with the central bank and businesses involved in the project to pilot the…

Brainard reportedly moving from the Fed to head National Economic Council

[Feb 14, 2023 12:30 PM] Fed Vice Chair Lael Brainard became vice chair of the Fed after a partisan fight and has been considered for other top positions.

UK think tank launches a crusade against 'surveillance' CBDCs

[Feb 14, 2023 7:38 AM] The Bank of England's plans for a CBDC launch raises concern among UK Tax Reform Council and the broader Bitcoin community.

UAE Launches ‘Financial Infrastructure Transformation’ Program; CBDC Among 9 Key Objectives

[Feb 14, 2023 1:30 AM] 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…

Digital Rupee Attracts 50,000 Users, India’s Central Bank Says

[Feb 12, 2023 7:30 AM] India’s central bank, the Reserve Bank of India (RBI), has announced that 50,000 users have adopted the nation’s central bank digital currency (CBDC), the digital rupee. In a press conference on Wednesday, RBI’s Deputy Governor Rabi Sankar stated…

As Its Central Bank Limits Cash And Pushes A CBDC, Nigeria Needs Bitcoin

[Feb 11, 2023 7:00 AM] Following an unsuccessful CBDC launch, Nigeria’s central bank is now trying to cut off cash. Bitcoin can help Nigerians find sovereignty.This is an opinion editorial by Heritage Falodun, a Bitcoin consultant and computer scientist based in…

China to launch national blockchain research center

[Feb 10, 2023 4:47 AM] The goal of the new state-supported institution is to speed up the country’s industry through blockchain technology.

Digital Gold Traded for Digital Rubles by Russia’s Rosbank

[Feb 9, 2023 6:30 AM] Rosbank has brokered Russia’s first deal involving the exchange of tokenized gold with the digital version of the Russian national fiat currency, the ruble. The successful transaction demonstrates the growing interest in digital financial assets…

India in ‘no hurry’ for CBDC as digital rupee pilot onboards 50k users

[Feb 8, 2023 8:02 AM] The central bank of India wants to proceed with CBDC testing in the smoothest way possible, deputy governor Rabi Sankar said.

Russia’s Gazprombank recommends slow CBDC rollout fearing loss of income

[Feb 8, 2023 6:00 AM] Gazprombank, a subsidiary of a state-owned energy corporation, which participates in Russia’s CBDC initiative, fears losing a part of its income as the digital ruble replaces traditional fiat currency.

Nouriel ‘Dr. Doom’ Roubini Warns About Demise of US Dollar

[Feb 8, 2023 1:30 AM] Nouriel Roubini, an economist known as “Dr. Doom,” has warned about the demise of the U.S. dollar and the rise of a “bipolar” world. Roubini believes that the Chinese renminbi might be a substitute for the dollar, as new…

BIS to launch stablecoin monitoring project and up focus on CBDC experiments

[Feb 7, 2023 10:34 PM] The bank for central banks is expanding its CBDC research while developing a platform to monitor stablecoin balance sheets.