CBDC Financial News

09.05 / 22:49

CBDC regulation education Caribbean the bahamas IMF recommends The Bahamas 'accelerate its education campaigns' on CBDC

Reporting on a consultation with the Caribbean nation on Monday, the IMF said its executive directors “recognized the potential of the Sand Dollar to foster financial inclusion” and recommended the Central Bank of The Bahamas “ accelerate its education campaigns and continue strengthening internal capacity and oversight.” The consultation was somewhat of a departure from several of the IMF’s previous warnings to many countries against the adoption of digital assets — but many of those did not include CBDCs.

07.05 / 03:03

CBDC Adoption boost Alipay Provides Digital Yuan Boost as COVID-19 Deals PBoC Blow

The e-payments giant Alipay, part of the Alibaba business empire, has added an advanced search function for users wishing to use its platform to make payments using the digital yuan within the fast-expanding pilot zone.

06.05 / 21:11

business CBDC Survey Central Bank 90% of surveyed central banks are exploring CBDCs — BIS

A survey conducted by the Bank for International Settlements, or BIS, suggested that many central banks around the world are looking into rolling out a central bank digital currency, or CBDC.

04.05 / 00:33

CBDC regulation Federal Reserve Digital Dollar Lost Ex-Fed vice-chair Quarles has lost none of his fervor in opposing US CBDC

Former United States Federal Reserve vice-chair for supervision Randal Quarles discussed central bank digital currencies (CBDC) and the chances of the U.S. adopting such technology in an interview on the "Banking With Interest" podcast Tuesday. Quarles, who is known for his opposition to a CBDC, expressed his skepticism about the so-called digital dollar and predicted the U.S. will not introduce it.

30.04 / 00:25

Blockchain CBDC Adoption ECB digital euro Customer ECB, Eurosystem begins experimental prototyping of digital euro customer interface

Progress will continue on the development of the digital euro as the European Central Bank (ECB) and Eurosystem have begun looking for companies to participate in an exercise to prototype customer-facing payments services. Payment service providers, banks and other relevant companies were invited to express interest in the project in an announcement released Thursday.

29.04 / 03:13

CBDC Adoption Tax Digital Yuan Now Being Used to Pay Taxes in Chinese Pilot Zones

Some Chinese citizens now appear to be paying their taxes in the digital yuan, with the pilot gathering pace in the nation’s fast-growing pilot area.

22.04 / 11:13

CBDC Adoption regulation Ruble Russian Tax Body Suggests Allowing Crypto Pay in Trade Deals, Digital Ruble May Be Ready by 2023

The Russian tax agency reportedly wants to allow companies involved in cross-border trade to accept crypto as a form of payment – and pay foreign exporters in cryptoassets. And the Central Bank has claimed that its digital ruble could be ready as soon as next year.

22.04 / 03:05

CBDC Adoption Payments Fine Chinese Man Uses Digital Yuan to Pay Court-issued Fine in Legal First

Chinese media outlets have been reporting on a new first for the digital yuan – with the central bank-issued token used to pay a court-issued fine for the first time.

20.04 / 02:15

CBDC Adoption International NOT Ex-Chinese Central Bank Chief Says Digital Yuan Not Intended for International Trade

The former governor of the central People’s Bank of China (PBoC) has reiterated claims that the forthcoming digital yuan has been designed primarily for retail use by domestic and even international users – not for cross-border trade purposes.

18.04 / 12:53

cryptocurrency CBDC Opinion central bank digital currency Cross-border CBDCs are powering the next generation of cross-border payment solutions

The Reserve Bank of India (RBI) is in the process of designing a framework for the launch of a central bank digital currency (CBDC) in 2023. A CBDC is essentially legal tender issued in a digital form distinct from a private cryptocurrency, which does not have a sovereign legal backing.

14.04 / 06:45

CBDC Bank of Japan Yen BOJ won't introduce digital yen as means for negative rates

Bank of Japan (BOJ) will not introduce a digital yen as a means to achieve negative interest rates, an idea sometimes discussed in academic circles, a senior central bank official said on Wednesday. In upcoming experiments on issuing a central bank digital currency (CBDC), the BOJ will explore features such as setting a limit on the amount of transactions and holdings for each entity, BOJ Executive Director Shinichi Uchida said in a speech.

12.04 / 23:51

Blockchain CBDC Adoption regulation inclusion Financial BIS releases study of CBDCs and their role in financial inclusion of the unbanked

The Bank for International Settlements, or BIS, released a paper Tuesday on central bank digital currencies, or CBDCs, and how they can be used to meet policy goals for financial inclusion. The paper drew on interviews conducted in the second half of last year at nine central banks that are currently exploring retail CBDCs. It looked at common goals across a range of economic development levels and challenges to inclusion.

08.04 / 13:15

cryptocurrency CBDC RBI MPC testing In a position to start testing, running pilot CBDC projects: RBI Deputy Governor

The Reserve Bank of India (RBI) is in a position to start off with testing and running pilot projects of Central Bank Digital Currency (CBDC) now that the legislative enablement has been done by the government, RBI Deputy Governor T. Rabi Shankar told reporters in a post monetary policy committee press conference on April 8.

08.04 / 10:41

CBDC Adoption WeChat WeChat Pay to Offer Digital Yuan Payment Options as China’s CBDC Pilot Expands

The Chinese e-pay platform WeChat Pay has unveiled a digital yuan interoperability solution that will allow users of the service to make payments in the central bank-issued token.

05.04 / 18:31

CBDC defi Polygon banking DeFi Could Rely On CBDC, But More Bridges With Centralized Finance Are Needed - Expert Panel

As decentralized finance (DeFi) and central banking share a number of objectives, building bridges between decentralized and centralized finance (CeFi) could open up new possibilities for the use of central bank digital currencies (CBDCs) , according to the participants of a debate held by the Innovation Hub of the Bank for International Settlements (BIS) and the Swiss National Bank (SNB).

04.04 / 22:17

CBDC Adoption defi Financial Services inclusion Financial DeFi ‘Crucial’ for Financial Inclusion, CBDCs Still Welcome Despite Being Centralized

Decentralized finance (DeFi) protocols are “crucial” for financial inclusion, particularly in the developing world. And despite being inherently centralized, central bank digital currencies (CBDCs) are a welcome part of that, said the participants at a discussion hosted by the Bank for International Settlements (BIS).

01.04 / 05:07

Stablecoin CBDC regulation Bank of Japan official calls for G7 nations to adopt common crypto regulations

A senior official from the Bank of Japan (BOJ) has warned G7 nations that a common framework for regulating digital currencies needs to be put in place as quickly as possible.

31.03 / 14:25

CBDC regulation Federal Reserve US Senator Suggests Banning Fed From Issuing a Direct-to-Consumer CBDC

US Senator Ted Cruz has introduced companion legislation to a January 2022 bill drafted by Representative Tom Emmer, which prohibits the Federal Reserve (Fed) from issuing a central bank digital currency (CBDC) directly to individuals.

30.03 / 13:13

CBDC regulation National 'Nothing is growing as fast as cryptocurrency': Kyrgyz MP wants national crypto

Kyrgyz member of parliament (MP) Karim Khanjeza called for the legalization of cryptocurrency in the country during a parliamentary committee meeting on law and order and combating corruption.

30.03 / 11:57

CBDC Adoption Survey DeFi, Web3, CBDC still unknown for most: Survey

A new survey by polling agency Morning Consult found that fewer than one third of ordinary Americans have heard of DeFi compared with 77% of crypto owners.

29.03 / 04:09

CBDC Adoption UnionPay Launches Self-service Platform for Merchants to Add Digital Yuan Pay Options

Chinese businesses are finding more uses for the digital yuan – with merchants being offered services that allow them to sign up to receive central bank digital currency (CBDC) payments through third-party operators.

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