The bill reflects concern that CBDCs potentially infringe on individual privacy by monitoring transactions.
The Central Bank of the United Arab Emirates (CBUAE) said its Digital Dirham would launch for retail use in the final quarter of 2025. According to a March 27 statement, the currency would be available through regulated banks, fintech companies, exchange houses, and licensed financial firms. Once live, the Digital Dirham will support smart contracts […]
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In collaboration with industry, regulators and the community, plans include creating a framework for digital asset platforms and stablecoins.
European Central Bank (ECB) Chief Economist Philip Lane has reiterated the need for a digital euro, emphasizing its role in mitigating risks from stablecoins and reducing reliance on US payment firms, Bloomberg News reported on March 20. Lane said at a conference in Cork, Ireland, that the digital euro central bank digital currency (CBDC) is […]
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Philip Lane said the prevalence of electronic payments using Apple Pay, Google Pay and PayPal "exposes Europe to risks of economic pressure and coercion."
The Bank of Korea (BOK) is gearing up to launch a pilot program involving 100,000 participants in early April to test its central bank digital currency (CBDC) in real-world transactions. Project Hangang, a three-month initiative running through the end of June, involves seven South Korean banks, including KB Kookmin, Shinhan, Hana, Woori, NH NongHyup, BNK […]
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Participants will be enabled to convert their bank deposits into tokenized deposits for payments at local shops, according to a local report.
A senior European Central Bank (ECB) official said that President Donald Trump’s aggressive push for crypto adoption could fuel financial instability and urged EU policymakers to strengthen their regulatory stance to mitigate potential fallout. François Villeroy de Galhau, Governor of the Bank of France and a member of the ECB’s Governing Council, said in an […]
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Lawmakers and industry experts discussed the importance of US dollar-backed stablecoins in the financial system and the urgency of a regulatory framework for these assets during a hearing convened by the US House Committee on Financial Services on March 11. Titled “Navigating the Digital Payments Ecosystem: Examining a Federal Framework for Payment Stablecoins and Consequences […]
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The European Central Bank is developing a digital euro, with concrete details for its rollout to be prepared in Q2.
European Stability Mechanism (ESM) managing director Pierre Gramegna said that President Donald Trump’s administration’s favorable stance toward crypto, particularly dollar-backed stablecoins, could challenge Europe’s monetary autonomy, Bloomberg News reported on March 10. Gramegna warned that the changing US stance could encourage both foreign and American technology firms to pursue large-scale payment solutions using dollar-denominated stablecoins. […]
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House Majority Whip Tom Emmer (R-Minn.) reintroduced legislation on March 6 to prevent the federal government from issuing a central bank digital currency (CBDC), arguing that such a system could threaten Americans’ financial privacy and empower government overreach. The Anti-CBDC Surveillance State Act seeks to explicitly ban the Federal Reserve from developing, issuing, or implementing […]
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The Bank of Israel has introduced a potential design for a central bank digital currency (CBDC), though officials emphasized that no final decision has been made on its issuance. In a paper published on March 4, the central bank described the proposed digital shekel (DS) as a “multipurpose CBDC” that would cater to both retail […]
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Russia’s central bank has postponed the full-scale launch of its digital ruble project indefinitely, according to a report from local media outlet TASS. Russia’s central bank began testing its digital currency in August 2023 with a limited pilot program. The initiative involved 12 banks and around 600 employees, who tested wallet functionalities, transfers, and automated […]
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Bank of England Governor Andrew Bailey expressed skepticism about the role of central bank digital currencies (CBDCs) in financial stability, emphasizing that central banks must maintain control over monetary transmission through the banking system. Speaking at the University of Chicago Booth School of Business in London on Feb. 11, Bailey reinforced that while financial markets […]
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Federal Reserve Chair Jerome Powell confirmed that the US will never have a central bank digital currency (CBDC) while he leads the central bank. Powell made the statement on Feb. 11 while speaking at the “Semiannual Monetary Policy Report to Congress.” His comments were in response to Senator Bernie Moreno’s concerns that the US could “look […]
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As crypto firms and their new government allies rail against U.S. regulators for chasing them out of banking, Powell says such tales are a worry he'll address.
ECB board member Piero Cipollone said the European Central Bank (ECB) must accelerate efforts to launch a digital euro in response to President Donald Trump’s push to promote dollar-backed stablecoins globally, Reuters reported on Jan. 24. Cipollone made the statement while speaking at a conference in Frankfurt, where he also claimed that stablecoins pose a […]
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The ECB is advocating for a digital euro in response to Trump's executive order promoting U.S.-backed stablecoins.
President Donald Trump signed an executive order on Jan. 23 establishing a new working group focused on crypto, potentially a “strategic national digital assets stockpile,” and prohibits advancements in creating a central bank digital currency (CBDC). The Presidential Working Group on Digital Asset Markets will play a pivotal role in shaping US policy on digital […]
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Riot Platforms vice president Pierre Rochard accused Ripple Labs of actively lobbying against the establishment of a Strategic Bitcoin (BTC) Reserve (SBR) in the US. Rochard made the claims in a Jan. 23 social media post. He stated: “The biggest obstacle for the Strategic Bitcoin Reserve is not the Fed, Treasury, banks, or even Elizabeth Warren. It’s […]
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The Bank of England (BoE) and HM Treasury reported significant progress in the design phase of the digital pound, a proposed central bank digital currency (CBDC) that would complement traditional banknotes and enhance the UK’s payment infrastructure. The update highlighted efforts to align the initiative with the nation’s evolving payments landscape and broader economic goals. The […]
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The Bank for International Settlements (BIS) has unveiled a comprehensive framework for designing retail central bank digital currencies (CBDCs), emphasizing a hybrid model that integrates central bank control with private sector collaboration. Developed by the Consultative Group on Innovation and the Digital Economy (CGIDE), the report provides a roadmap for central banks in the Americas […]
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According to a BIS report, Jamaica, Nigeria, China, Sweden, the Bahamas, and Peru have CBDC programs in various stages of development.
SocGen is claiming bragging rights as the first to conduct an on-chain repo transaction with a European central bank.
The Missouri Senate introduced SB 194 on Dec. 1, proposing to ban central bank digital currencies (CBDCs) as legal tender within the state. The bill seeks to prohibit public entities from accepting or using CBDCs and modifies the definition of “money” under the Uniform Commercial Code to exclude these digital currencies. Sponsored by Senator Brattin, […]
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The European Central Bank (ECB) has unveiled its second progress report on developing the digital euro central bank digital currency (CBDC), outlining advancements in the preparation phase and mentioning a prototype for 2025. In the report, the ECB reaffirms its commitment to providing a secure and efficient digital payment solution that complements cash while safeguarding […]
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TradFi looks safe on the international payments market for the foreseeable future, despite advances in blockchain solutions.
Iran’s Central Bank is preparing to launch its own central bank digital currency (CBDC), called the Digital Rial, to modernize its banking infrastructure and enhance financial operations, according to local media reports. Central Bank Governor Mohammad Reza Farzin revealed the plans on Nov. 25 at the 11th Annual Conference on Modern Banking and Payment Systems. […]
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The Reserve Bank of India (RBI) is adopting a cautious approach to the nationwide rollout of its Central Bank Digital Currency (CBDC), the e-rupee, prioritizing financial stability and a thorough understanding of its potential impacts. Deputy Governor T. Rabi Sankar emphasized that the bank is “in no hurry to roll it out immediately,” indicating a […]
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