The White House is planning to regulate the Bitcoin and stablecoin industry and they are planning to create a central bank digital currency.This is a transcribed excerpt of the "Bitcoin Magazine Podcast," hosted by P and Q. In this episode, they are joined by Jason Brett and Dusty Daemon to explain how the White House is planning to regulate the cryptocurrency industry,...
There are a variety of reasons consumers should be wary of developments surrounding central bank digital currencies.Natalie Smolenski is a senior advisor at the Bitcoin Policy Institute and executive director of the Texas Bitcoin Foundation, and Dan Held is a Bitcoin educator and marketing advisor at Trust Machines.This article is an excerpt from the Bitcoin Policy Institute whitepaper...
Implementing a CBDC would not only negatively impact the U.S. economy, but is literally beyond the capability of the government.This is an opinion editorial by Shinobi, a self-taught educator in the Bitcoin space and tech-oriented Bitcoin podcast host. Since the recent White House report on...
CBDC, or central bank digital currency, will be the main focus of three major financial and lending institutions to validate the feasibility of new digital currency system, the Bank of Israel said on Friday. Upon its launch in the third quarter of this year, the joint CBDC project by the Bank of Israel, Hong Kong Monetary Authority, and the Bank for International Settlements...
Understanding the monetary system is foundational to seeing what’s wrong with the current system and to have a true grasp of Bitcoin and its importance.“If you want to make an apple pie from scratch, you must first invent the universe.” – Carl SaganAmong the first objections that arise for anyone who has just learned about Bitcoin is “this is too complicated...
Senator Kempis’ draft bill calls for a central bank digital currency to be legal tender in Mexico and claims state intervention is native to human rights.Mexican Senator Indira Kempis recently introduced draft legislation amending the country’s Monetary Law to include currencies issued by the central bank. Kempis outlines in repetition that intervention from the Mexican state is necessary to...
The Central Bank of Ghana said inclusiveness would be a major factor for its upcoming digital currency, the eCedi, and will attempt to bring the currency to citizens without a bank account, or even internet access. In a design paper released on Tuesday, the bank proposed the use of hardware wallets and other devices for...
Tanzania has reportedly started exploring a Central Bank Digital Currency (CBDC). The country is following the footsteps of Nigeria, which launched its own digital currency last month. Other African countries have similarly announced plans to launch CBDCs. Tanzania Explores CBDC According to a Bloomberg...
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...
A future powered by digital assets is assured as governments around the world look to technology for economic progress.Whether or not you’d believe inflation could reach World War II levels, it’s clear that the global economy post-COVID-19 looks uncertain. A chasm is growing between the developed and developing markets fueled by uneven vaccination rates and Gross Domestic Product growth. Central Bank Digital...
The possibility of issuing a cryptocurrency fills the Central Bank of Israel with enthusiasm. A digital shekel has come from merely a theory to a persistent search for possible solutions. Their pros and cons list seems to have grown, leading them to be on the lookout for answers and new ideas. Back in June, Bank of Israel deputy governor Andrew Abir announced an...
CBDCs are antithetical to bitcoin and represent repression as opposed to freedom.You may have heard of central bank digital currencies (CBDCs) and have had a slight read over what they are and the reasons for their current or proposed existence. Many people aren’t interested in it, to be frank. Maybe it’s the boring acronym, maybe it’s just another thing in a failing...
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...
Ripple, in partnership with The Royal Monetary Authority of Bhutan, will start trials for a digital Ngultrum. The San Francisco-based company will integrate its distributed ledger technology into Bhutan's existing payment system with the help of its CBDC Private Ledger product. Related Reading |...
CBDC, also central bank digital currency, is a digital token issued by a country. Many governments and central banks around the world are exploring the use of CBDCs. Even though they mostly remain in the hypothetical stage. However, more than 80% of central banks are looking at digital currencies. The Reserve Bank of Australia...
Ghana is one of the few African countries that is hopping on the cryptocurrency train. The country is particularly taking concrete steps towards embracing this innovation. During the Fifth Ghana International Trade and Finance Conference in Accra, The Vice President of Ghana – Dr. Mahamudu Bawumia – said that African governments should embrace virtual currencies. His reason was that it would boost trade...
Digital currencies are quickly gaining traction in the world; but Bitcoin is poised to maintain superior incentives.Bitcoin’s popularity has unleashed a race for digital money dominance, which is likely to intensify with the emergence of Central Bank Digital Currencies (CBDCs). In a 2021 survey of central banks, 86% of respondents indicated they are...
News 