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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The Central Bank of Brazil (BCB) is advancing its central bank digital currency (CBDC) framework initiative by collaborating with Banco Inter, Microsoft Brazil, 7COMm, and Chainlink, according to a Nov. 19 statement. The partnership aims to support trade finance solutions in the second phase of Brazil’s DREX pilot program. This phase will focus on automating […]
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Federal Reserve Governor Christopher Waller recently expressed skepticism about the need for a central bank digital currency (CBDC) in the US payment system Waller made the comments during a speech at The Clearing House Annual Conference 2024 on Nov. 12, where he questioned whether the system has a problem that CBDCs could solve. He stated: […]
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The Bank for International Settlements (BIS) announced its departure from Project mBridge, a central bank digital currency (CBDC) initiative developed in partnership with the People’s Bank of China and the central banks of Hong Kong, Thailand, Saudi Arabia, and the UAE. The project, designed to simplify cross-border payments through CBDCs, has raised concerns over potential […]
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The Hong Kong Monetary Authority (HKMA) announced a new partnership with Banco Central do Brasil (BCB) to advance cross-border tokenization initiatives, joining their respective digital currency infrastructures to conduct experimental transactions under Project Ensemble and Brazil’s Drex pilot program. The HKMA and BCB are exploring cross-border settlement models, focusing on payment-versus-payment (PvP) and delivery-versus-payment (DvP) […]
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Jack Booth of the TON Society discussed the future of decentralization, the impact of CBDCs, and the path to mass crypto adoption.
Sumit Gupta shares insights on India’s approach to CBDCs and private cryptocurrencies, emphasizing the need for balanced regulation.
Amid growing fears that Britcoin, the UK’s central bank digital currency (CBDC), is going to supplant cash, Bank of England (BOE) governor Andrew Bailey said that the central bank will continue to supply cash “for as long as people want.” Bailey was speaking at the Group of Thirty’s 39th Annual International Banking Seminar. According to […]
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Hong Kong is sharpening its focus on virtual asset trading and digital financial systems, local media reported on Oct. 23, citing Financial Secretary for Services and the Treasury Christopher Hui. Speaking at the Asia-Pacific Fintech Innovation Lab 2024, Hui emphasized that these areas are central to positioning Hong Kong as a global leader in virtual […]
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Barclays, Citi UK, HSBC and Natwest participated in the Regulated Liability Network test.
New research indicates that in countries where central bank digital currencies have been adopted or are under consideration, well-being is low.
Bank of Russia Governor Elvira Nabiullina reiterated the regulator’s belief that the digital ruble, Russia’s central bank digital currency (CBDC), will achieve widespread adoption within the next five to seven years. Nabiullina said that CBDCs have significant benefits for payments during a recent speech at the Federation Council, local media reported on July 30. CBDC […]
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US Senator Bill Hagerty passionately advocated for Bitcoin and the principles of decentralization during his speech at the Bitcoin2024 conference, highlighting the alignment of these values with American ideals of liberty and autonomy. Hagerty said during his appearance at the Bitcoin2024 conference on July 26 that the flagship crypto represents the fundamental principles of freedom […]
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Regulators in the Bahamas are sick of their citizens' reluctance to adopt a CBDC, so they're forcing commercial banks to get on board.
Republicans have included Bitcoin and crypto in their official platform for the 2024 election which is set for a final vote July 9, according to the Hill. The inclusion of crypto and Bitcoin reflects former President Trump’s recent statements and a broader shift within the party toward embracing digital assets and blockchain technology. Per the […]
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Roy Cooper, the governor of North Carolina, struck off a bill that would have banned the state from receiving payments in U.S. Federal Reserve-issued central bank digital currency (CBDC) on June 5. House Bill No. 690 would have also restricted the state from participating in any CBDC testing by the Federal Reserve. In a statement, […]
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The Bahamas will provide access to its central bank digital currency (CDBC) the “Sand Dollar” through commercial banks to increase adoption, Reuters reported on July 1, citing the country’s central bank governor. Governor of the Central Bank of The Bahamas John Rolle said the country intends to establish the regulations within two years and has […]
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Bitcoin, the leading cryptocurrency asset in the financial sector, is set to garner more recognition as the state of Louisiana has enacted a historic law that will safeguard BTC access while outlawing the use of Central Bank Digital Currencies (CBDCs). New Bill Protects Bitcoin Access In Lousiana Dennis Porter, the Chief Executive Officer (CEO) and […]
The next two-year phase of Project Helvetia will see other financial institutions and types of transactions join the party.