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Fiery Public Hearing on Digital Euro Sees Experts Diverge on Key Issues

[Nov 28, 2023 12:46 PM] Expert witnesses answered lawmaker questions on holding limits, impact on banking systems and privacy for an EU central bank digital currency.

Central Banks Have No Interest in Personal Data, BIS Official Says While Promoting CBDCs

[Nov 28, 2023 10:15 AM] The Bank for International Settlements has been calling on countries to prepare for CBDCs as governments face backlash over privacy concerns.

Digital Euro Can End Bank Crises, Is Better Than Deposits, Ex-Bank of Spain Chief Says

[Nov 28, 2023 9:27 AM] A central bank digital currency (CBDC) could also be used to deregulate banking activities and help the banking sector grow, Miguel Fernández Ordóñez said during a European Parliament hearing on a digital euro.

More foreign banks join China’s CBDC pilot trials

[Nov 28, 2023 9:11 AM] A total of four foreign banks have integrated China’s e-CNY CBDC thus far.

Standard Chartered joins China's CBDC pilot testing

[Nov 27, 2023 9:13 AM] The British bank will provide e-CNY CBDC services to clients and explore its future use in China's financial system.

Standard Chartered China Offering Exchange Services for Digital Yuan

[Nov 27, 2023 9:09 AM]

Eurasian Economic Union Minister: CBDCs Will Pave the Way for the Launch of a Digital Reserve Currency

[Nov 27, 2023 3:30 AM] Sergei Glazyev, minister of integration and macroeconomics of the Eurasian Economic Union (EEU), has noted the advancements the adoption of central bank digital currencies (CBDCs) could ostensibly bring to the trading dynamics of the region…

Latam Insights: Milei Wins Runoff Election, Vows to Eliminate Central Bank in Argentina; Drex to Encourage Tokenization

[Nov 27, 2023 12:30 AM] Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Libertarian Javier Milei wins the runoff election in Argentina, reinforcing his intention of eliminating…

BIS General Manager Agustin Carstens Touts Tokenization as Part of the Future Financial System

[Nov 25, 2023 7:30 AM] Agustin Carstens, general manager of the Bank for International Settlements (BIS), has discussed tokenization’s significance in modernizing the current siloed financial system. Carstens stated that only through tokenization can the world move…

South Korea to Pilot CBDC With 100,000 Citizens in 2024: Report

[Nov 23, 2023 4:18 AM] The Bank of Korea sees a CBDC as a potential answer to problems with existing government-issued grant systems, such as during the COVID-19 pandemic or childcare vouchers.

South Korea to invite 100K citizens to test CBDC in 2024

[Nov 23, 2023 3:06 AM] Participants will be restricted to using the CBDC only for payment, without an option to store, exchange or send it to other users.

Digital Euro Isn't Pressing, but Work Should Continue: Spanish Central Bank Governor

[Nov 22, 2023 4:11 AM] Europe's "highly efficient" payment systems leave space to address social and financial concerns of a central bank digital currency, Pablo Hernández de Cos said.

Digital Ruble Pilot to Expand to Execute Budget Expenditures Next Year

[Nov 22, 2023 2:30 AM] Anton Siluanov, the finance minister of Russia, has announced that the Central Bank of Russia will expand the pilot phase of the digital ruble next year to include the execution of still undefined targeted budget expenditures. Digital Ruble to Be…

Singapore Unveils Plan to Ensure Seamless Financial Transactions Across Digital Asset Networks

[Nov 20, 2023 10:30 PM] The Monetary Authority of Singapore’s managing director has outlined the central bank’s plan to ensure seamless financial transactions across digital asset networks. “Currently, there is a proliferation of digital asset networks,”…

Cambodian digital currency bakong amps up use case with Alipay agreement

[Nov 20, 2023 3:47 PM] The CBDC-like bakong provides digital payment services in riel and the U.S. dollar. It has been steadily extending its regional scope.

Ripple’s James Wallis underscores CBDCs’ role in breaking financial barriers

[Nov 19, 2023 2:25 AM] Wallis clarifies that financial inclusion aims to extend financial services to individuals worldwide, especially those with low incomes and no ties to financial institutions.

People’s Bank of China Tests Digital Yuan Payment Integration in Hong Kong

[Nov 18, 2023 2:30 AM] The People’s Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA) are in the second phase of the integration tests of the digital yuan for payments and cross-border transactions in Hong Kong. This new phase includes more banks and…

IMF Chief Says Central Bank Digital Currencies Can Replace Cash — Urges Public Sector to Prepare for CBDC Deployment

[Nov 17, 2023 8:30 PM] International Monetary Fund (IMF) Managing Director Kristalina Georgieva says central bank digital currencies (CBDCs) can replace cash. She has urged the public sector to “keep preparing to deploy CBDCs and related payment platforms,”…

CBDCs Like a Digital Dollar Face Doubts Without Privacy Protections, Key Organization Finds

[Nov 17, 2023 11:50 AM] A study found that privacy increases participants’ willingness to use a CBDC by up to 60% when purchasing privacy-sensitive products.

German parliament member ’staunch opponent’ of digital euro, all in on Bitcoin

[Nov 16, 2023 7:55 AM] European Union lawmakers anticipate the arrival of the digital euro, but German politician Joana Cotar is pushing back against the currency and fighting in favor of Bitcoin.

CBDCs Good for Payments, Even With Competition: IMF

[Nov 15, 2023 10:20 AM] The International Monetary Fund's planned CBDC handbook offers guidance for policymakers on how to explore digital versions of sovereign currencies.

Kazakhstan Central Bank Marks Digital Tenge Pilot With First Retail Payment

[Nov 15, 2023 6:58 AM] The National Bank of Kazakhstan plans to implement a digital tenge by the end of 2025.

Kazakhstan officially launches digital tenge

[Nov 15, 2023 5:28 AM] The chairman of the National Payment Corporation has made the first transaction with the central bank digital currency.

Central Bank Digital Currencies Can Replace Cash, Offer Resilience: IMF Chief

[Nov 15, 2023 4:43 AM] The public sector should continue to prepare for CBDC deployment, IMF Managing Director Kristalina Georgieva said.

IMF head: CBDCs can replace cash, help financial inclusion

[Nov 15, 2023 3:17 AM] International Monetary Fund managing director Kristalina Georgieva urged the public sector to “keep preparing to deploy” central bank digital currencies.

UK Cabinet Reshuffle Gives Bim Afolami Responsibility for Crypto, CBDC, Replacing Griffith

[Nov 14, 2023 3:37 AM] His predecessor, Andrew Griffith, will head up the Department for Science, Innovation and Technology.

CVM Chief: Brazilian CBDC Drex to ‘Kill’ Many Cryptocurrencies

[Nov 13, 2023 9:30 PM] João Pedro Nascimento, president of the Brazilian Securities and Exchange Commission (CVM), believes that drex, the Brazilian central bank digital currency (CBDC), will “kill” many cryptocurrencies. While established cryptocurrencies…

APEC finance ministers to share perspectives on crypto at meeting in San Francisco

[Nov 13, 2023 3:18 PM] U.S. Treasury Secretary Janet Yellen said she is looking forward to hearing from the finance ministers of some of the world’s most crypto-forward countries.

Bank of Russia to Develop Digital Ruble Payment System With the UAE

[Nov 11, 2023 3:30 AM] The Bank of Russia has announced it will create a joint payment system with the United Arab Emirates (UAE) using the digital ruble. Bank of Russia’s First Deputy Governor Olga Skorobogatova stated that the system would serve individuals and…

BIS general manager urges central banks to “lead innovation” for CBDCs

[Nov 8, 2023 5:12 AM] Agustín Carstens called CBDCs the “central element” of central bank leadership in innovation.