Tag: cbdcs

The Bitcoin Policy Institute’s report on CBDCs makes a strong case for why the US should reject a centrally issued version of the dollar. Bitcoinist covered that already. This time, we’ll focus on the reasons why The Bitcoin Policy Institute thinks CBDCs don’t make sense and are not practical for capitalist societies. The main argument is that a CBDC would obsolete banks,...

The politicians in power are actively working to dismantle the separation of powers in order to behave with impunity toward the American people.This is a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, they are joined by Natalie Smolenski, chair of the Texas Blockchain Council, to break down the case for why we should not...

Which role for Central Banks ? This international conference will involve an open and interactive discussion on the new and disruptive ecosystems that are ra...

A pilot project involving four Asian central bank digital currencies (CBDC) involving real-value transactions was completed on Sept. 23, according to a LinkedIn post by Bank for International Settlements (BIS) advisor Daniel Eidan. The pilot project, titled mBridge project (also known as Multiple CBDC...

The latest report by The Bitcoin Policy Institute goes for the lowest hanging fruit. It tries to convince US politicians that “CBDCs will erode the distinction between America and authoritarianism,” which is true. To accomplish that, The Bitcoin Policy Institute appeals to the cheapest trick in the book: comparing the US to China. The move is so...

U.S. Federal Reserve chair Jerome Powell urged lawmakers to be cautious when regulating decentralized finance (DeFi) while speaking at a roundtable conference organized by the central bank of France on Sept. 27. Powell said that regulation should be introduced "carefully and thoughtfully," and that regulators have to be, "…very careful about how...

Australians are already testing a CBDC. Surprising no one, considering the authoritarian way that the government handled the lockdowns. The jury is still out on Central Bank Digital Currencies, while some authorities see them as problematic and prone to abuse, others are running a pilot program. The Reserve Bank of Australia, the country’s Central Bank, worked with the Digital Finance Cooperative Research Centre...

The Reserve Bank of Australia (RBA) published a whitepaper for its pilot central bank digital currency (CBDC) on Sept. 26, entering the league of countries exploring CBDCs. According to the Atlantic Council CBDC tracker, Australia is among 97...

A former International Monetary Fund (IMF) official, John Kiff, believes that CBDCs need to function offline and that such technology already exists in the form of stored-value cards, which were introduced in the 1990s, according to a blog post published on the IMF website on Sept. 26....

China's Hengyang County Public Security Bureau arrested 93 suspects involved in laundering 40 billion RMB via cryptocurrencies, local media reported on Sept. 25. According to the report, the criminal group was involved in more than 300 cases of fraud and had been operating since 2018. Authorities in the county started investigations after the director of the County Public Security...

The Central Bank of Iran (CBI) has finalized plans to launch its digital currency Sept. 22, as reported by Iran's Chamber of Commerce. The digital currency dubbed "Crypto-Rial" will leverage blockchain technology to turn the Iranian Rial banknotes into...

U.S. Department of the Treasury has called on the public to provide feedback on the role of digital assets in facilitating illicit finance and how the regulator might curtail the associated risks. On September 19 the Treasury...

World Economic Forum (WEF) published its dynamic take on CBDCs in a blog post titled, "What are central bank digital currencies (CBDCs)?" on August 31, following The Reserve Bank of Australia's central bank's (RBA) plans to launch a CBDC pilot project. On 9 August, The Reserve Bank of Australia's central...

The biggest news in the cryptoverse for Sept. 2 includes CZ saying that Binance is not incorporated in China, Cardano's Vasil upgrade scheduled for Sept. 22 and U.S. regulators proposing amendments for large hedge fund reporting. CryptoSlate Top Stories CZ denies claims that Binance is in ‘the pocket of...

A United States think tank Digital Dollar Project (DDP) has developed a “technical sandbox” program that is aimed at promoting the development of a prospective US central bank digital currency (CBDC). The Digital Dollar Project (DDP), in a tweet on Wednesday, stated that the new program would look into "technical and business implementation" issues pertaining […] The post...

Bitcoiners seem to be more aware of the dangers of CBDCs, which could enable governments to easily lock citizens out of their own wallets.This is a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, Q is joined by Lord Norris, the senior vice president of global partnerships at Going Parabolic Ventures, to discuss the looming...

The biggest news in the cryptosphere for Aug. 26 includes Federal Reserve Chairman Jerome Powell's indication that recovery from the burgeoning inflation levels is still far from being done, and another stablecoin losing its peg from the U.S. Dollar as the bear market continues. CryptoSlate Top Stories...

The development of Central Bank Digital Currencies (CBDCs) is picking up pace but Coinsillium CEO Eddy Travia is not concerned about their impact as he thinks they fail to give users an edge over existing private crypto options. Coinsillium is an open finance venture operator specializing in blockchain technology, especially non-fungible tokens, which the firm predicts will soon encompass greater commercial use, such...

Nigeria's digital currency eNaira has reportedly reached 270,000 users as recorded transactions hits N4 billion (approx. $10 million) since its launch in October 2021. The CBN Governor Godwin Emefiele highlighted the milestones achieved by the digital currency during an eNaira hackthon held on August 18. Emefiele...

The United Nations’ UNCTAD wants developing economies to do as they say, not as they do. In a shocking document, the United Nations Conference on Trade and Development tries to convince the poorer countries to keep out of crypto. Arguably, the best technology to help them grow financially. In classic gaslighting fashion, the UNCTAD downplays the benefits, highlights the risks, and tries to...