CBDC Financial News

13.01 / 22:55

CBDC Adoption MIT, Maiden Labs examine CBDC inclusiveness issues in report from 4 countries

The Massachusetts Institute of Technology (MIT) Digital Currency Initiative (DCI) and associated organizations marshaled a sizable team of researchers in four low- and middle-income countries — India, Indonesia, Nigeria and Mexico — to study inclusion issues related to retail central bank digital currency (CBDC) design. They released the results of their 15-month research project on Jan. 13.

13.01 / 17:57

CBDC Update Lets Digital Yuan Users Pay with Mobiles – Even When Their Battery’s Flat

Another update to China’s digital yuan app is allowing users in pilot zones to pay using their cell phone – even if their devices have run out of battery or have no mobile signal.

12.01 / 22:47

CBDC regulation BIS TradFi BIS economists suggest improving TradFi with CBDC to attract users away from crypto

Economists at the Bank of International Settlements (BIS) took a look at the risks inherent in the crypto ecosystem and came up with a seemingly novel solution. “Develop an alternative,” they advised in a bulletin released on Jan. 12. What they had in mind was central bank digital currency (CBDC).

11.01 / 23:49

business CBDC Central Bank China's central bank includes digital yuan in report on currency circulation

The People’s Bank of China, or PBoC, has begun including the country’s central bank digital currency, the e-CNY, in reports measuring the amount of currency in circulation.

11.01 / 22:51

Stablecoin CBDC regulation City of London, British trade groups form new digital currency advocacy alliance

The City of London has teamed up with a variety of trade associations to form the UK Forum for Digital Currencies, an alliance that will advocate for “better policies, practice and regulation around digital currencies,” according to a statement released by the five members.

11.01 / 01:31

CBDC regulation legislation UK MP says stablecoin is a gateway to CBDC, only crypto can ‘disrupt’ settlements

The United Kingdom remains committed to becoming a world crypto industry hub in spite of the recent negative events that have occurred on the market. It is “the sector I have dedicated the most time to,” Member of Parliament and HM Treasury Economic Secretary Andrew Griffith told a meeting of the UK Parliament Treasury Committee on Jan. 10, underscoring that commitment.

09.01 / 00:45

CBDC Adoption Central Bank Mexico's digital peso delayed, unclear launch date

Mexico's central bank digital currency (CBDC) development is still in an initial phase, and it is unlikely to be ready for launch by 2024.

05.01 / 22:51

CBDC regulation Taxes ECB official urges CBDC development for the good of cryptocurrency and consumers

European Central Bank (ECB) executive board member Fabio Panetta has been a vocal supporter of central bank digital currency (CBDC) and cryptocurrency sceptic, and he presented his latest argument for CBDC on Jan. 5. Writing on the official ECB blog, he said that, by developing CBDCs, central banks “will safeguard the trust on which private forms of money ultimately depend.”

05.01 / 14:21

Stablecoin CBDC regulation lawmaker Hong Kong lawmaker wants to turn CBDC into stablecoin featuring DeFi

Hong Kong authorities are looking for new designs for a central bank digital currency (CBDC), now proposing to issue a CBDC in the form of a stablecoin backed by the government.

05.01 / 12:03

business CBDC Adoption Bank of England Bank of England answers professionals' questions about upcoming CBDC wallet

Companies that applied to win over the $244,000 contract to develop a central bank digital currency (CBDC) wallet proof of concept (PoC) for the Bank of England (BOE) provided questions about the project. In response, the central bank published its answers to over 70 questions.

28.12 / 14:41

UPS CBDC Digital Updates Chinese Central Bank Updates Digital Yuan App, Adds Gift Functions

The central People’s Bank of China (PBoC) has updated its digital yuan app – and is attempting to drive up adoption with new gifting and invitation functions.

28.12 / 03:09

Blockchain Technology CBDC Tech 10 predictions for crypto in 2023

This year has been a particularly tumultuous one for the crypto market, with many decentralized and centralized entities failing or struggling to stay afloat. It feels as though we are in the final stages of the bear market, with bad actors and practices being purged in a process that is both dramatic and necessary for the maturity of the entire system. Despite this, the Web3 technologies that emerge from this crypto winter will change everything.

26.12 / 22:47

CBDC Adoption Federal Reserve Digital Dollar Project Hamilton has concluded, weeks after legislators’ enquiry, according to Boston Fed

Project Hamilton, the research project of the United States Federal Reserve Bank of Boston and Massachusetts Institute of Technology (MIT), announced its conclusion in the runup to Christmas. The two-year project looked at the technical aspects of a hypothetical United States digital dollar central bank digital currency (CBDC).

23.12 / 11:29

CBDC regulation Central Bank Bitcoin How crypto could be good for CBDC and vice versa: Industry exec explains

Cryptocurrencies like Bitcoin (BTC) could potentially find some mutually beneficial interactions with central bank digital currencies (CBDCs), according to one industry executive.

22.12 / 13:53

CBDC regulation Central Bank Indian Financial 'Don't Regulate - Ban Crypto Before It Triggers Financial Crisis', Indian Central Bank Head Says

The governor of the Reserve Bank of India (RBI), Shaktikanta Das, suggested that cryptocurrencies should not be regulated - they should be banned altogether, lest they lead to the next financial crisis.

19.12 / 17:37

CBDC China Adds More Cities to its Digital Yuan Pilot

More Chinese cities will be added to the nation’s digital yuan pilot – with a rollout edging closer to reality.

09.12 / 17:43

cryptocurrency CBDC economy RBI Risk making wrong norms for crypto without more data: RBI Deputy Governor Rabi Sankar

Initiatives to gather data on crypto need to be undertaken quickly before any regulations are formed so that "wrong set of prescriptions" are not issued, a top Indian central banker has said.

09.12 / 00:57

CBDC Adoption Central Bank Cross-border NOT DMI finds CBDCs not targeting cross-border payments, huge potential in Metaverse

Central bank digital currency (CBDC) development aims squarely at inclusion, both for the central bank in the national economy and for the people it serves. Meanwhile, the technology for cross-border payments is being developed elsewhere for the most part, according to a new report on the payments industry.

08.12 / 09:51

CBDC Adoption Central Bank wholesale Spain’s central bank to experiment with wholesale CBDCs

Spain’s central bank, the Bank of Spain (BDE) said it intends to launch an experimental program to begin testing wholesale Central Bank Digital Currencies (CDBCs) and is seeking collaboration proposals from local finance and technology institutions.

07.12 / 13:07

cryptocurrency CBDC economy India cenbank says digital currency transactions to stay largely anonymous

Transactions via central bank digital currencies (CBDCs) would remain anonymous "to a certain degree", a top official at the Reserve Bank of India (RBI) said on Wednesday, adding that technology and legal provisions can be explored to ensure that anonymity.

06.12 / 17:21

Stablecoin CBDC Adoption Central Bank The impact of CBDCs on stablecoins with Bitget's Gracy Chen

For over 14 years, central banks worldwide have seen blockchain technology deliver highly secure, immutable, verifiable and transparent financial ecosystems, starting with the Bitcoin network. Central bank digital currencies (CBDCs) stood out as one of the ways for fiat currency to harness a part of what cryptocurrencies achieve today.

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