As Americans gear up for the elections, the digital dollar comes back into focus. What roles will a CBDC and stablecoins play in shaping the future of the US economy?
SWIFT said it is uniquely positioned to interlink the fragmented digital asset landscape with its upcoming digital currency trials in 2025.
Country-wide Bitcoin adoption could boost financial inclusion and trade, but challenges like volatility and regulatory hurdles might create mixed economic impacts.
The Reserve Bank of Australia made a strategic commitment to prioritize work on a wholesale CBDC.
RBA Assistant Governor Brad Jones said the potential benefits of a retail CBDC in Australia appear modest or uncertain at present.
The large private companies will work with seven central banks on improving structural inefficiencies in international transfers.
India's central bank Governor Shaktikanta Das has said that while their retail central bank digital currency (CBDC) pilot has over 5 million users, there should not be in any rush to roll out a system-wide CBDC.
New research indicates that in countries where central bank digital currencies have been adopted or are under consideration, well-being is low.
The trial was part of an initiative set up by the European Central Bank to identify how blockchains can facilitate central bank money settlement.
The central bank has been experimenting with multiparty computation, which could support the entire European economy in the future.
The Bank of Israel won't decide whether to launch a central bank digital currency before the European Union does, Deputy Governor Andrew Abir told Reuters.
The Central Bank of the Republic of China mentioned handling government tenders through special purpose tokens to improve operational efficiency using smart contracts for bids and performance bonds.
The new participants in the European Central Bank’s DLT tests include major financial institutions.
Unlike other types of electronic money in Iran, the digital rial doesn’t require interbank settlement to transfer funds between the buyer and the seller.
The Republican Party of Idaho has vehemently opposed the creation of a Central Bank Digital Currency (CBDC) in the United States, advocating instead for using decentralized digital currencies like Bitcoin. This stance was outlined in a recent report from the party’s 2024 convention platform committee session. The report stated: “We oppose the creation of a […]
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The country plans to have a legal framework and regulatory sandbox in place for CBDC introduction “as necessary.”
KARM Legal Consultants founder Kokila Alagh said that the regulations clarify the issuance, licensing and supervision of AED-backed payment tokens.
“Q-Day” gets closer with every quantum computing breakthrough.
In a significant move towards enhancing digital currency use, Hong Kong residents can now set up personal digital yuan or e-CNY wallets, as announced by the Hong Kong Monetary Authority (HKMA). This development, part of a collaboration with the People’s Bank of China (PBoC), marks a milestone in “facilitating” cross-border transactions between Hong Kong and […]
Project DESFT is meant to encourage trade between small businesses using a CBDC and a stablecoin, emphasizing credentialing.
While Hong Kong residents can sign up for a digital yuan (e-CNY) wallet with a phone number, the CBDC is currently restricted to cross-border transactions and cannot be used for person-to-person transfers within Hong Kong.
China’s ambitious plan for a central bank digital currency (CBDC), the e-CNY or digital yuan, is facing a test of adoption. While the government boasts billions of dollars in transactions and enthusiastic city trials, a closer look reveals a hurdle – a lukewarm reception from the very people it’s meant to serve. Related Reading: Sam […]
Some participants of China’s CBDC pilot program are reportedly hesitant to hold onto the digital yuan, citing a range of concerns with using the state-backed digital currency.
Opinion: From Brazil to Norway, there is plenty of evidence that governments are planning to use CBDCs to abuse their people.
Regulators like HKMA and SFC united with local private sector firms like HSBC and HashKey to support the market of tokenization in Hong Kong.
Bank of Israel deputy governor Andrew Abir is eager for the digital shekel to shake up commercial banks.
The Riksbank designed a system using payment cards and shadow wallets, but security and accounting problems remain.
Phase 2 of the e-HKD pilot will be supported by the recently launched regulatory sandbox for testing wholesale CBDCs and tokenization, the Hong Kong Monetary Authority said.
Adoption of the central bank digital currency pales in comparison to the use of cash in the country.
The pioneering African CBDC has few users, but creating credit histories for them will promote financial inclusion.