Tag: central bank digital currencies

Oct 27 2022

Breaking: Kazakhstan To Integrate Its CBDC With Binance’s BNB Chain

Binance's CEO in a tweet on October 27 announced the National Bank of Kazakhstan (NKB) will integrate its CBDC, Digital Tenge, with the BNB Chain. Kazakhstan's central bank recently launched a CBDC pilot in a controlled environment and performed tests with consumers and merchants. Binance continues to work with the... Read more

Sep 28 2022

ECB President Says Europe Needs A Borderless Digital Euro

President of the European Central Bank (ECB) Christine Largade says Europe needs a borderless and regulated digital euro. Largade's comments come at a time when countries across the globe are researching the possibility and feasibility of a CBDC. Christine Largade wants a borderless digital euro Christine Largade made the remark... Read more

Sep 27 2022

Breaking: Fed Chair Powell Speaks On Digital Currency, Slams Crypto

The Federal Reserve chair Jerome Powell takes a major dig at the crypto ecosystem. Speaking at an event organized by Banque de France, the central bank of France, Powell states that there are very significant structural transparency issues around DeFi. The event “Which role for central banks?” organized by the... Read more

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 16 2022

Norway’s Central Bank Taps Into Ethereum Infrastructure to Build Nation’s CBDC

The central bank of Norway, Norges Bank, is reportedly working on central bank digital currency (CBDC) on Ethereum infrastructure. Still in prototype stages, the CBDC is currently being tested the so-called sandbox mode, which allows developers to test out the digital currency in an isolated environment.

Sep 03 2022

IMF Report: There Are 97 CBDCs As Of July 2022

The International Monetary Fund (IMF), like several other international financial organizations, is giving the necessary attention to the Blockchain industry and the concept of digital assets. The...

Jul 06 2022

The Fed’s Conference Panelists Conclude That Digital Assets are Not a Threat to Dollar’s Domination

In June, the Federal Reserve (Fed) hosted its first-ever conference focused solely on the global role of the US dollar. On Monday, a write-up on the conference was published, which provides interesting insights into the positions held by top researchers, policymakers, and market experts on the “evolving roles of the U.S. dollar.”

Jun 23 2022

Chairman Powell: Digital Dollar Is Something We Really Need to Explore As a Country

Summary: Chairman Jerome Powell has stated that the US Federal Reserve plans to recommend a Central Bank Digital Currency (CBDC) to Congress. According to Chairman Powell, a CBDC is a crucial financial innovation that will affect all Americans. The US Federal Reserve Chairman, Jerome Powell, has said that the central bank is looking into recommending to Congress how to go about launching a...

May 22 2022

Crypto is Worth Nothing and Based on Nothing, Says ECB President Lagarde

Quick take: European Central Bank President, Christine Lagarde, has said cryptocurrencies are worth nothing and based on nothing. She added that cryptocurrencies do not have an underlying asset to act as an anchor of safety. ECB President Lagarde said that a digital Euro would be a better store of value than cryptocurrencies. The EU Commission on a digital euro (CBDC) is still accepting...

May 12 2022

Scoop: What’s Behind Crypto Stablecoin Crash?

The crash of Terra's UST has sparked serious debate over the future of the stablecoin space, while severely denting crypto market sentiment. UST de- pegged from the dollar earlier this week, and has since struggled to regain its 1:1 peg. Corrective measures from founder Do Kwon and the Luna Foundation Guard have done little to remedy...

May 06 2022

More Trouble For Crypto? 9/10 Central Banks Are Developing CBDCs

A recent survey by the Bank of International Settlements (BIS) shows that roughly nine out of 10 central banks are planning a digital currency (CBDC). A Central Bank Digital Currency (CBDC) operates similarly to a crypto token, but its overall supply and pricing is centralized. Some countries are looking to adopt the method as an...

Apr 08 2022

US Treasury Sec. Believes CBDCs Might Outperform Bitcoin In The Future

The US treasury seems to be highly in favor of a US Central Bank Digital Currency (CBDC) over other digital assets like Bitcoin. Treasury secretary Janet Yellen has stated that CBDCs and stablecoins could be able to unseat Bitcoin and other cryptocurrencies as they are better suited for widespread use. Treasury secretary makes case for...

Mar 24 2022

Honduras Central Bank Chooses CBDCs Over Bitcoin, Breaks Everyone’s Hearts

A lot of people had their bets on Honduras being the next country to declare bitcoin legal tender. Apparently, they lost. The country’s Central Bank issued an...

Mar 11 2022

Jamaica Will Airdrop $16 To Early Adopters Of CBDC Wallet

Jamaica's government said it will deposit 2500 Jamaican dollars ($16) to the first 100,000 citizens to use the country's new digital currency wallets, in a bid to boost the use of its recently unveiled central bank digital currency (CBDC), Jamaica Digital Exchange, or JAM-DEX. The move, announced in a press release, comes shortly after the...

Feb 11 2022

“Trying to Keep an Open Mind”-Federal Reserve Governor Bowman On CBDCs

Federal Reserve Governor Michelle Bowman opined that central bank is exploring the benefits of CBDCs while speaking at Independent community bankers of America meeting. The widespread adoption and use of digital currencies such as Bitcoin and Ether have emerged from distributed ledger technology. This situation has spurred central banks worldwide to consider issuing CBDCs to The post “Trying to Keep an Open Mind”-Federal...

European Officials Are Moving Forward With Digital Euro, Legislation Planned for 2023

Following the recent development surrounding the digital rupee, and the Fed’s whitepaper on a USD-based central bank digital currency (CBDC), Politico is now reporting that the European Union officials are preparing legislation on blockchain-powered digital euro.

Feb 01 2022

India’s Finance Minister Proposes 30% Tax on Crypto, Unveils Plans for Digital Rupee

During a recent discussion on India’s federal budget, the country’s minister of finance and corporate affairs, Nirmala Sitharaman, announced plans to impose a 30% tax on any income generated from the transfer of digital assets, and spoke about the launch of a digital rupee CBDC.

Nov 06 2021

Digital Euro Is Coming: ECB’s Panetta Argues In favor

The ECB weights in favor of incorporating a digital euro. The vision's details were shared by Fabio Panetta, a member of the executive board of the European Central Bank (ECB). The possibility of a European CBDC for retail payments started being discussed at the beginning of the year by the central bank and was put into a 24 month "investigate phase"...

Oct 24 2021

Nigeria Prepares To Launch Digital Currency eNaira On Monday

The President of Nigeria, Muhammadu Buhari, will formally unveil the much anticipated Central Bank Digital Currency (CBDC), known as the eNaira, on Monday 25th, October 2021, at the State House in Abuja. Related Reading | New Convert: Anti-Crypto Central Bank Of Nigeria Set To Launch Digital...

Oct 06 2021

110 Countries Are Exploring CBDC At Some Stage, Says IMF Managing Director

Managing Director of the International Monetary Fund(IMF), Kristalina Georgieva, recently talked about digital currencies, including CBDC, in one of her recent speeches. The IMF MD gave this speech at the T20 Summit hosted by Bocconi University and Italian Institute for International Political Studies (ISPI) on Oct. 5. The submit included sessions with...

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