23 / 24 Relevant items tagged with #CBDC

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ECB’s Fabio Panetta: Unbacked Cryptos Are a ‘Vehicle for Gambling’ Lacking ‘Intrinsic Value’

[Jan 6, 2023 4:30 AM] Fabio Panetta, part of the Executive Committee of the European Central Bank (ECB), believes that unbacked cryptocurrency assets are vehicles for gambling without intrinsic value, which need to be regulated. In an opinion piece, Panetta states that…

ECB official urges CBDC development for the good of cryptocurrency and consumers

[Jan 5, 2023 1:15 PM] ECB board member Fabio Panetta has woven his enthusiasm for blockchain technology and skepticism of cryptocurrency into an argument that supports both, albeit begrudgingly.

Hong Kong lawmaker wants to turn CBDC into stablecoin featuring DeFi

[Jan 5, 2023 5:16 AM] A Hong Kong official believes that a government-backed stablecoin would serve as a better entry point to Web3 compared to private stablecoins.

The ‘godfather of crypto’ wants to create a privacy-focused CBDC: Here’s how

[Jan 3, 2023 12:33 PM] David Chaum explained his game plan to create a CBDC that would also be appreciated by the crypto ecosystem in an exclusive interview.

Bill on Digital Ruble Submitted to Russian Parliament

[Jan 1, 2022 1:00 AM] A draft law devoted to the digital ruble has been filed with the State Duma, the lower house of Russian parliament. The legislation introduces rules determining how the new form of national fiat will be issued and amends a series of legal acts to…

China’s Digital Yuan Little Used, Former Central Bank Official Says

[Dec 31, 2022 8:30 AM] Trials of the digital yuan have produced disappointing results, according to a report quoting the former head of research at the Chinese central bank. The new form of national fiat has brought no benefits to the banks and should expand beyond being…

Central Bank of Turkey Reports First Payment Transactions on Digital Lira Network

[Dec 31, 2022 2:30 AM] The Central Bank of the Republic of Turkey (CBRT) has conducted the first payment transactions on the test network of the digital lira. The monetary authority intends to proceed with more testing in 2023 and plans to invite banks and fintech…

Former Chinese central banker says digital yuan ‘usage has been low’

[Dec 29, 2022 9:30 PM] A former China central banker said cumulative e-CNY transactions only crossed $14 billion in two years, adding the results were “not ideal.”

China’s CBDC wallet resorts to ages-old tradition to boost adoption

[Dec 28, 2022 1:00 AM] A traditional Chinese way of gifting money that’s gone virtual with the rise of digital payments has been introduced into the digital yuan wallet app.

Project Hamilton has concluded, weeks after legislators’ enquiry, according to Boston Fed

[Dec 26, 2022 1:16 PM] The two-year project produced a white paper in February; research results will continue to appear, with the Fed’s partner at MIT scheduled to make a research report in January.

ECB to Decide Whether to Issue Digital Euro in 2023

[Dec 24, 2022 5:30 AM] The European Central Bank (ECB) has published a new report on the progress of its investigation into the possible launch of a digital euro. The research will continue next year with the regulator planning to make a decision whether to proceed to…

Nigerian Central Bank Increases Cash Withdrawal Limits After Receiving ‘Feedback From Stakeholders’

[Dec 23, 2022 6:30 AM] Barely a month after announcing the restricting of cash withdrawals to under $50 per week, the Central Bank of Nigeria said on Dec. 21 that individuals will be able to withdraw an equivalent of $1,120 per week starting on Jan. 9, 2023. The central…

How crypto could be good for CBDC and vice versa: Industry exec explains

[Dec 23, 2022 2:24 AM] While some governments continue bashing crypto, some industry executives argue that crypto could be beneficial for CBDCs.

Digital euro settlement, distribution options detailed in latest progress report

[Dec 21, 2022 1:05 PM] The ECB is continuing its digital euro investigation with more pieces of the potential system filled in, but no commitment to blockchain technology or even its issuance has been made.

Kazakhstan central bank recommends a phased CBDC rollout between 2023-25

[Dec 18, 2022 1:40 AM] Kazakhstan’s central bank recommended making the in-house CBDC available as early as 2023 with a phased expansion of functionality and introduction into commercial operation until the end of 2025.

National Bank of Kazakhstan Publishes Whitepaper for Digital Tenge

[Dec 17, 2022 11:00 PM] The central bank of Kazakhstan has completed the second phase of testing for its digital currency and published a whitepaper. The studies carried out by the regulator on its introduction did not identify significant risks for the country’s…

Brazil Could Launch Its Defi-Integrated Digital Real in 2024

[Dec 16, 2022 10:30 PM] Roberto Campos Neto, president of the Central Bank of Brazil, has stated that the digital real project, the Brazilian central bank digital currency (CBDC) could be launched in 2024. Campos Neto also remarked on the benefits the digital currency…

Brazil could cement its status as an economic leader thanks to 2024 CBDC move

[Dec 12, 2022 4:41 PM] Brazil is set to launch a Central Bank Digital Currency (CBDC) in 2024, a move that could contribute to its status as an economic leader in South America.

Bank of England opens applications for 'proof of concept' CBDC wallet

[Dec 11, 2022 11:18 PM] The bank requires the wallet to execute basic features such as transacting value and requesting payments and set its budget at nearly $255,000.

DMI finds CBDCs not targeting cross-border payments, huge potential in Metaverse

[Dec 8, 2022 3:30 PM] The Digital Money Institute’s third annual payments report looks at CBDCs for the first time, as well as other payment methods, through the lens of cross-border payment utility.

Bank of Spain to Launch Experimental Wholesale CBDC Digital Token Program

[Dec 8, 2022 6:30 AM] The Bank of Spain is seeking the collaboration of organizations interested in participating in an experimental test on a wholesale central bank digital currency (CBDC). The institution clarified this new program has no relation with the current…

Spain’s central bank to experiment with wholesale CBDCs

[Dec 8, 2022 12:42 AM] The Bank of Spain said the study can help determine to what extent it can adapt to the "needs and demands of an increasingly digital society.”

The impact of CBDCs on stablecoins with Bitget's Gracy Chen

[Dec 6, 2022 8:01 AM] While CBDCs will cater to local demands, cooperation between countries could facilitate and support the widespread adoption of readily-available stablecoins.

Central bank plans to make CBDC 'only legal digital tender' in Indonesia, says gov

[Dec 5, 2022 1:00 PM] “Collaboration and synergy on national and international level is critical to the development of Digital Rupiah,” said Perry Warjiyo.

Pakistan launches new laws to expedite CBDC launch by 2025

[Dec 5, 2022 2:19 AM] The State Bank of Pakistan signed in new laws for Electronic Money Institutions — non-bank entities offering digital payment instruments — to ensure the timely issuance of a CBDC in the next three years.

‘I Wanted to Punch Kanye’ — Free Speech Waffler Elon Musk’s Nonsensical Take on Bitcoin, CBDCs, and Censorship

[Dec 4, 2022 11:00 PM] “Vox Populi, Vox Dei, man.” So says self-proclaimed Chief Twit Elon Musk from a private jet flying high above the world during a Twitter Spaces appearance on Sunday, Dec. 4 (JST). It does sound nice to say, but the voice of the mob should never be…

US Lawmakers Say Any Digital Dollar Must Be Open, Permissionless, and Private

[Dec 2, 2022 8:30 PM] Nine U.S. lawmakers have raised concerns regarding the U.S. central bank digital currency project led by the Federal Reserve Bank of Boston. The lawmakers stressed: “Any U.S. CBDC must be open, permissionless, and private.” Congressmen…

Hong Kong working on investor protection regulations, says central bank exec

[Dec 2, 2022 2:19 AM] Hong Kong central bank executive looked optimistic about the future of decentralized tech, while the Korean central bank governor has his doubts in the wake of the recent crypto contagion.

Clearing company tests out securities transaction settlements on blockchain networks

[Dec 1, 2022 3:41 PM] The Digital Dollar Project and the Depository Trust & Clearing Corporation trialed a potential settlement system using tokenized securities and CBDC in real world conditions.

National Bank of Ukraine Unveils E-hryvnia Concept

[Dec 1, 2022 2:30 AM] The central bank of Ukraine has presented to interested parties a draft concept of the nation’s future digital currency, the e-hryvnia. The regulator is currently considering several potential applications for its digital coin, including retail…