CBDC Financial News

More than 420,000 merchants in Changsha, China, now accept payments in the digital yuan, China’s central bank digital currency (CBDC).

The Group of Seven (G7) organization aims to help developing countries introduce central bank digital currencies (CBDCs) in line with international standards. 

The Central Bank of Montenegro announced on April 11 that it had signed an agreement with Ripple for the development of a strategy and pilot program for a Montenegrin digital currency in the form of a central bank digital currency, or a stablecoin. The country has used the euro as its currency since its introduction in 2002, despite not being part of the Eurozone.

Presidential hopefuls Robert F. Kennedy Jr. (RFK Jr.) and Ron DeSantis are rallying against the Federal Reserve’s FedNow payments system claiming it would pave the way for a Central Bank Digital Currency (CBDC).

A widely shared video of European Central Bank (ECB) President Christine Lagarde admitting that a Digital Euro will be used in a "limited" way to control the payments people can make was taken from the three week old prank video.

Robert F. Kennedy Jr. filed documents with the United States Federal Election Commission on April 5 to run as a Democratic presidential candidate in 2024, according to multiple news reports. He is expected to officially announce his candidacy on April 19 in Boston, Massachusetts. As reports of his candidacy spread, Kennedy tweeted his position on central bank digital currency (CBDC).

The Central Reserve Bank of Peru (CRBP) has published a paper that it said will be the first in a series to examine the need, design and timing of a Peruvian central bank digital currency (CBDC), John Kiff, research director at the Sovereign Official Digital Association (SODA), reported. The report concentrates on issues relating to a retail CBDC.

A report from the Cato Institute argues that a United States government-issued central bank digital currency, or CBDC, would usurp the private sector and threaten citizens’ privacy and core freedoms.

Australia and New Zealand Banking Group (ANZ) has completed its use case in the pilot project run by the Reserve Bank of Australia (RBA) and Digital Finance Cooperative Research Centre using central bank digital currency (CBDC). ANZ partnered with Grollo Carbon Ventures (GCV) to trade carbon credits.

The organization following the launch of the Central African Republic’s Sango Coin has announced a delay of its listing “just for a few weeks,” citing legal and regulatory obstacles. 

A new world order could be emerging as economic powerhouses increase their efforts to distance themselves from US dollar hegemony.

ANZ, one of Australia’s “Big Four” banks, will cease facilitating withdrawals and deposits from a number of its Australian branches as it looks to push its customers toward using an ever-dwindling number of ATMs and deposit machines.

NEW DELHI: Minister of State for IT and Electronics Rajeev Chandrasekhar on Tuesday said that cryptocurrency presents a “legitimate” case of macro economic risks, and there is a need for it to be regulated. “… it is a very legit case that crypto represents macro economic risks. It represents many other types of risks. FTX and other cases reaffirm that crypto is not business as usual and crypto is not innovation,” Chandrasekhar said while speaking at the Times Network’s India Digital Fest. The Minister said that countries and central banks around world are grappling with the problems around crypto “In India, crypto is not illegal if you buy them through legitimate channels of LRS (Liberalised Remittances Scheme) which are RBI approved dispensation on foreign exchange. It is your choice to lose money or make money, and the government does not get in the business of where you invest in and what you not invest in. But we certainly have the obligation to explain to the Indian citizens that you can’t exchange rupee for crypto… RBI is very clear on this… (and) we should respect their views on how they chart out the crypto course and crypto roadmap. They have said CBDC (central bank digital currency) is the route, and I have no problem with that. It is the best way to do that without creating any downside risk to the economy.” Did you Know?SAP has launched a new ente

Japan's Finance Ministry is planning to establish an expert panel in April to explore the feasibility of introducing a digital yen, Japanese news outlet NHK reported. 

Regulated stablecoins are currently in the spotlight of policymakers as a panel of professionals in the digital regulatory space unpacks their predictions on the use of regulated stablecoins in the future at the World of Web (WOW) Summit in Hong Kong. 

The central Bank of Japan (BoJ) has stated that regulated stablecoins and a forthcoming central bank digital currency (CBDC) can coexist – and has given the clearest signal so far that Japan will launch a digital yen.

The rollout of The Bank of Russia’s central bank digital currency (CBDC) pilot is being delayed for an indefinite period. Although all the participants, at least from the banking side, reassure of their readiness to begin the testing. 

Two lawmakers in one week weighed in against the possibility of a United States central bank digital currency (CBDC). Florida Governor Ron DeSantis — expected by many to throw his hat into the ring for the 2024 U.S. presidential race — has called for a ban on a digital dollar in the state. DeSantis spoke out against the Federal Reserve issuing and controlling a CBDC, claiming the initiative would grant “more power” to the government. 

The banking crisis could be the spark that will kick off the next crypto bull run, in which Bitcoin (BTC) is likely to outperform all other cryptos, according to Mike McGlone, the senior commodity strategist at Bloomberg Intelligence. 

During the financial crisis of 2007–2008, many people lost trust in traditional financial institutions and turned to alternative forms of currency, such as cryptocurrencies. It was a way for people to maintain their financial freedom and privacy in a system that had let them down. However, the rise of central bank digital currencies (CBDCs) raises serious concerns about privacy and freedom.

Emerging central bank digital currency (CBDC) cross-border transaction technology could transform the global economy by providing faster, cheaper and safer services for many of its players. But banks may not fare as well in that new economy, Moody’s Investor Service said in a report dated March 21.