Tag: cbdcs

Sep 30 2022

The Case Against CBDCs In A Capitalist Society: Banks Won’t Be Happy

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,...

Sep 29 2022

The Goal Of Central Bank Digital Currencies Is Complete Control Over Humanity

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...

Fed Chair Jerome Powell Shared Updates On The Central Bank-Issued Digital Dollar

Sep 29 2022 Published at UseTheBitcoin under tags  breaking cbdcs crypto news

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

Sep 28 2022

BIS concludes CBDC pilot with cross-border payments totalling $22M transacted

Sep 28 2022 Published at CryptoSlate under tags  adoption banking cbdcs

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 Bitcoin Policy Institute Explains Why CBDCs And The US Are Not A Match

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...

Sep 27 2022

DeFi needs to be regulated ‘carefully and thoughtfully,’ says Fed chair Jerome Powell

Sep 27 2022 Published at CryptoSlate under tags  cbdcs defi regulation stablecoins

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...

Australian Central Bank Details Active CBDC Pilot Project In Telling Whitepaper

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...

Sep 26 2022

Australian central bank issues whitepaper for pilot permissioned CBDC, eAUD

Sep 26 2022 Published at CryptoSlate under tags  cbdcs regulation stablecoins

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...

Former IMF official believes CBDCs need to function offline to gain mass adoption

Sep 26 2022 Published at CryptoSlate under tags  adoption banking cbdcs

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 arrests 93 people suspected of laundering 40B RMB via crypto

Sep 26 2022 Published at CryptoSlate under tags  cbdcs china digital yuan

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...

Sep 21 2022

Iran to launch CBDC on Sept. 22

Sep 21 2022 Published at CryptoSlate under tags  adoption cbdcs payments

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...

Sep 20 2022

U.S. Treasury requests public comment on curbing crypto-related crimes

Sep 20 2022 Published at CryptoSlate under tags  cbdcs crime regulation tokens

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...

Sep 03 2022

World Economic Forum weighs in on CBDC adoption and DLT use cases

Sep 03 2022 Published at CryptoSlate under tags  cbdcs payments

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...

Sep 02 2022

CryptoSlate Wrapped Daily: Binance’s CZ refutes allegations of company’s ties to China, LUNA Classic pumps 2,400%

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...

Digital Dollar Project launches ‘technical sandbox’ to explore potential CBDCs

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...

Aug 30 2022

Why Bitcoiners Fear CBDCs: Imagine The DMV Controlling Your Wallet

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...

Aug 26 2022

CryptoSlate Wrapped Daily: Fed’s Powell hawkish on inflation as BTC tumbles, Taliban ban crypto

Aug 26 2022 Published at CryptoSlate under tags  adoption bear market cbdcs macro people

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...

Coinsillium CEO deems CBDCs a ‘small niche’ vs Bitcoin, other cryptocurrencies

Aug 26 2022 Published at CryptoSlate under tags  adoption cbdcs people

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...

Aug 19 2022

Nigeria’s CBDC eNaira records $10M in transaction since October

Aug 19 2022 Published at CryptoSlate under tags  adoption cbdcs

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...

Aug 12 2022

UNCTAD Wants To Curb Crypto Adoption In Developing Countries. Of Course They Do

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...

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