CBDC Financial News

02.02 / 13:39

CBDC digital rupee modi FinTech India's digital rupee would be exchangeable against cash: PM Modi

Central Bank Digital Currency (CBDC) in the Union Budget 2022 by Finance Minister Nirmala Sitharaman, Prime Minister Narendra Modi on Wednesday threw more light on the topic in his address to the nation. PM Modi said that the digital currency will boost the digital economy in the year to come, adding that the RBI-backed CBDC will be controlled and monitored by the central bank and will be a digital avatar of India's fiat currency. India's move to launch CBDC is in tandem with other global peers, who are planning similar moves soon.

02.02 / 11:39

cryptocurrency CBDC Digital Currency Budget Cryptic no more: Cryptocurrencies, CBDC may get to coexist

Budget has for the time being treated cryptos as ‘digital assets’ by proposing to tax the gains from crypto trading — though at a stiff rate of 30%, like lottery prize money. The central bank digital currency (CBDC) — the digital form of the fiat currency bills in your wallets — can quicken transactions and dramatically transform payments with instantaneous settlement. It would be faster and cheaper than other modes of payment like RTGS, IMPS or UPI. Cryptos, however, will not be treated as currency but may survive as assets. Not only would crypto profits be taxed at double the rate than short-term stock gains, 1% would be deducted as tax at source from the proceeds of sale of cryptocurrency.

02.02 / 03:37

CBDC Digital Currency Budget Budget 2022 Digital currency explained: India catches up with global fad

fad across the world and India will next fiscal, beginning April 1, have its own version of the same which essentially would mirror the prevalent physical currency in digital form. The currency, called 'digital rupee', will be issued by the Reserve Bank in digital form and will be fungible with physical currency. The exact regulation governing this Central Bank Digital Currency (CBDC) is yet to be finalised.

02.02 / 00:13

CBDC Adoption Central Bank Year of the Tiger May Be the Year of the Digital Yuan as China Celebrates with More CBDC Adoption

For millions of Chinese people living in the “10+1” pilot cities trialing the digital yuan, the Year of the Tiger is off to a lucrative start, with companies on an adoption drive that is seeing them slash prices for digital CNY customers, give away tokens and more.

01.02 / 00:51

business CBDC Yuan Winter Olympics restrictions COVID restrictions COVID restrictions stymie digital yuan rollout at Beijing Winter Olympics: report

Though athletes and support staff arriving for the Beijing 2022 Olympics still have the option of using digital currency for payments at many venues, the international test run of China’s CBDC is reportedly facing hurdles due to the pandemic.

31.01 / 20:33

Provident CBDC Digital Central Bank Caribbean CBDC Remains Offline for More Than 2 Weeks Amid Technical Issues

DCash, a central bank digital currency (CBDC) commissioned by the Eastern Caribbean Central Bank (ECCB), has been offline for more than two weeks amid technical issues that continue to affect the platform.

31.01 / 13:33

CBDC regulation Bank of Japan Financial Former BOJ official warns against use of digital yen in the financial sector

A former Bank of Japan (BOJ) official who reportedly headed the digital currency research is now advising against its use.

29.01 / 04:15

CBDC Adoption Central Bank retail Winter Olympics ‘All Winter Olympics Merchants Now Accept Digital Yuan,’ Say Chinese Banks

The Chinese central bank, the People’s Bank of China (PBoC), is gearing up for what will be the biggest week yet for its digital yuan. And while the token remains officially in its pilot phase, it will be showcased to the world next week as the Winter Olympics begin. Domestic adoption plans will also go into overdrive – as the nation celebrates the Lunar New Year.

28.01 / 12:34

Blockchain CBDC Payments Chinese food delivery giant joins CBDC efforts

China’s food delivery giant Meituan has become the latest tech firm to integrate central bank digital currency (CBDC) payments for its services.

25.01 / 20:33

business CBDC CFTC Digital Asset Former CFTC chair Chris Giancarlo joins Digital Asset's board

Chris Giancarlo, who served as chair for the U.S. Commodity Futures Trading Commission until 2019, will be joining the board of directors for blockchain startup Digital Asset.

25.01 / 06:39

CBDC Adoption Central Bank Bank of America Stablecoin adoption Bank of America says stablecoin adoption and CBDC is ‘inevitable’

It appears that the U.S. will finally be moving forward to create its own central bank digital currency (CBDC) according to the Bank of America.

25.01 / 05:22

CBDC Adoption Central Bank National S Korean Presidential Candidates Manifestos Issued as NFTs; Crypto Enters National Statistics

The manifestos of South Korea’s main presidential candidates have been released as non-fungible tokens (NFTs) – as the nation’s March general election takes yet another crypto-flavored turn and Statistics Korea makes a crypto move.

24.01 / 12:23

CBDC regulation Central Bank Bank of Korea completes first phase of digital currency pilot

The Bank of Korea has successfully completed the first phase of its central bank digital currency mock testing started in August 2021.

21.01 / 16:08

CBDC Federal Reserve Digital Dollar US Fed Wants Answers To 22 Questions About Digital Dollar

The US Federal Reserve (Fed) has released its digital dollar whitepaper, and is seeking answers to 22 questions related to its central bank digital currency (CBDC) project from a wide range of stakeholders.

21.01 / 07:11

CBDC Digital Currency Federal Reserve debate Fed kicks off debate on issuing its own digital currency with new white paper

Federal Reserve said in a long-awaited discussion paper released on Thursday. The paper made no policy recommendations and offered no clear signal on where the Fed stands on whether to launch a central bank digital currency (CBDC), a digital form of cash in your pocket. The Fed said it would not proceed with creating one «without clear support from the executive branch and from Congress, ideally in the form of a specific authorizing law.» The paper tiptoes around a subject that has sparked debate inside the Fed's top ranks, even as other central banks across the globe are exploring the adoption of digital currencies.

21.01 / 00:37

CBDC regulation Federal Reserve Fed issues discussion paper on benefits and risks of a digital dollar

The U.S. Federal Reserve is opening comments to the public after releasing a discussion paper on the pros and cons of a potential central bank digital currency.

20.01 / 05:31

CBDC Adoption Central Bank Chinese Central Bank: In Pilote Stage, Digital Yuan Has 261M Active Users

China’s central People’s Bank of China (PBoC) has claimed over 261m users in the nation activated digital yuan wallets by the end of last year – in addition to the 20 million-plus who have downloaded its official pilot app, which was released to marketplaces in some cities earlier this month.

19.01 / 13:02

Blockchain CBDC Mining Iran to reportedly pilot central bank digital currency soon

The Central Bank of Iran (CBI) is reportedly planning to launch a central bank digital currency (CBDC) pilot soon.

19.01 / 00:08

business CBDC Central Bank Swiss 'The risks outweigh the benefits' of a Swiss CBDC, says SNB governing board member

Andréa Maechler, a member of the governing board for the Swiss National Bank, or SNB, has reportedly altered her position on the central bank issuing a digital franc.

18.01 / 11:53

CBDC Adoption Central Bank 20m+ Chinese Now Reportedly Using Central Bank’s Digital Yuan App

Over 20m people have now downloaded the central People’s Bank of China (PBoC)’s digital yuan app, media outlets in the country have reported.

18.01 / 04:51

Blockchain CBDC Adoption Central Bank Malaysia’s Central Bank actively assessing CBDC options

Malaysia has joined the growing cadre of nations that are exploring the value of researching and developing a central bank digital currency (CBDC).

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