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What is CBDC?
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What is CBDC?

CBDC stands for Central Bank Digital Currency, and represents the digital form of a nation’s fiat money (currency backed by trust or faith in the regulating government).

Can CBDC Drive Financial Inclusion?
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Can CBDC Drive Financial Inclusion?

There are still 1.7 billion unbanked in the world. What are the reasons behind such a significant number of unbanked? Can CBDC drive their financial inclusion?

Bank of Japan Testing Digital Yen CBDC
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Bank of Japan Testing Digital Yen CBDC

The Bank of Japan (BoJ) has just announced that it will begin experimenting with a Digital Yen, its own Central Bank Digital Currency (CBDC) to test its technical application and feasibility.

Messaging Giant LINE is Developing a Platform for CBDC
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Messaging Giant LINE is Developing a Platform for CBDC

Japanese messaging giant Line is developing a platform to aid Asian central banks in their pursuit of central bank digital currencies (CBDC).

Consensys Report: CBDC are Risk-Free Compared to Facebook Libra
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Consensys Report: CBDC are Risk-Free Compared to Facebook Libra

In a recent white paper entitled Central Banks and the Future of Digital Money—Consensys offers an insightful and practical overview of the potential and risks of CBDC. The research paper also offers an example of how the Ethereum blockchain can be leveraged to design and build a CBDC and takes a deep dive into what the practical implementation of a CBDC would require.

Facebook's Libra Sparked CBDC Race, COVID-19 Made Central Banks Realize Its Necessity
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Facebook's Libra Sparked CBDC Race, COVID-19 Made Central Banks Realize Its Necessity

Digital innovation and central bank digital currency adoption (CBDC) have been on the rise despite the ongoing COVID-19 pandemic. What has driven CBDC forward?

Bank of Canada Governor Advocates Globally Coordinated Approach to CBDC
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Bank of Canada Governor Advocates Globally Coordinated Approach to CBDC

The governor of the Bank of Canada Tiff Macklem has advocated for a “globally coordinated” approach with respect to CBDC development.

Central Bank Digital Currency (CBDC) Race:  2020 Year in Review
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Central Bank Digital Currency (CBDC) Race: 2020 Year in Review

As 2020 comes to a close, we take a look back at the most important developments regarding the pursuit of Central Bank Digital Currencies (CBDC).

US Federal Reserve Weighs the Pros and Cons of a Digital Dollar CBDC
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US Federal Reserve Weighs the Pros and Cons of a Digital Dollar CBDC

The US Federal Reserve has continued to research the benefits and impact of implementing a central bank digital currency (CBDC).

Bank of Spain Plans to Look at Design Proposals and Economic Implications of a CBDC
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Bank of Spain Plans to Look at Design Proposals and Economic Implications of a CBDC

Spain’s Central Bank mentioned that it would study the design proposals and economic implications of a CBDC in the country.

Reserve Bank of Australia May Still Have Its Eye on CBDC After All
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Reserve Bank of Australia May Still Have Its Eye on CBDC After All

Reserve Bank of Australia's Tony Richards has said that the RBA will continue to consider the potentials of issuing a CBDC.

South Korea’s CBDC Pilot to Enter into Distribution Phase Next Year
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South Korea’s CBDC Pilot to Enter into Distribution Phase Next Year

South Korea’s central bank is looking to start the testing of the distribution of its central bank digital currency (CBDC) next year.

Mexican Central Bank Reveals CBDC Distribution in 2024
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Mexican Central Bank Reveals CBDC Distribution in 2024

Banco de México, the Central Bank of Mexico has revealed that its projected CBDC will be up for public distribution by 2024.

Central Banks Doubt Cryptocurrency Limited Role in Reserve Operations
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Central Banks Doubt Cryptocurrency Limited Role in Reserve Operations

A survey conducted by UBS investment bank shows that central banks do not expect a cryptocurrency to replace gold as a digital reserve asset.

Bitcoin Can’t Drive Financial Inclusion for Unbanked But CBDC Can says Mastercard CEO
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Bitcoin Can’t Drive Financial Inclusion for Unbanked But CBDC Can says Mastercard CEO

Ajay Banga, the CEO of Mastercard believes Bitcoin is unable to function as an inclusive currency for the world’s unbanked due to volatility, CBDCs are a different story.

BIS to Explore Potential Advantages of Defi on Small & Medium Enterprises in H.K.
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BIS to Explore Potential Advantages of Defi on Small & Medium Enterprises in H.K.

As part of its research plans, the Bank for International Settlements (BIS) will explore if decentralized finance (DeFi) technologies can enhance financing for small and medium enterprises in Hong Kong.

China Continues to Influence Crypto Activities Worldwide, Study says
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China Continues to Influence Crypto Activities Worldwide, Study says

Blockchain data platform Chainalysis published a report Wednesday, indicating China remains one of the largest cryptocurrency markets worldwide and continues to influence crypto activities worldwide.

South Korea Advances CBDC Pilot Project: Jeju, Busan, and Incheon Selected as Test Regions
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South Korea Advances CBDC Pilot Project: Jeju, Busan, and Incheon Selected as Test Regions

South Korea selects Jeju, Busan, and Incheon for its CBDC pilot project, excluding Seoul. The Bank of Korea aims to test digital currency issuance and distribution.

Bank of Japan Sets Up New Research Team For Digital Yen CBDC Development
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Bank of Japan Sets Up New Research Team For Digital Yen CBDC Development

Japan’s central bank has recently revealed that it has created a new team to research on Central Bank Digital Currencies.

China Launches Digital Yuan Pilot Wallet for Android and iOS Users
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China Launches Digital Yuan Pilot Wallet for Android and iOS Users

The People’s Bank of China has extended its pilot tests for the country’s Central Bank Digital Currency (CBDC) or digital Yuan with the launch of a new mobile wallet for Android and iOS users.

South Korea's Digital Won Project Sees First Trial Stage Completed
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South Korea's Digital Won Project Sees First Trial Stage Completed

The Bank of Korea (BOK) announced that it has completed the first stage of its Central Bank Digital Currency (CBDC) or Digital Won trials, according to its official press release.

China's DCEP Will Not Compete With WeChat and AliPay
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China's DCEP Will Not Compete With WeChat and AliPay

China’s digital currency also known as the Digital Currency Electronic Payment (DCEP) will not be competing with WeChat and AliPay says Research head.

Central African Regional Bank Seeks to Introduce Common Digital Currency
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Central African Regional Bank Seeks to Introduce Common Digital Currency

The Bank of Central African States is considering creating a common Central Bank Digital Currency (CBDC) that would serve its six member states.

CBDC Project will Help Enhance Japan's "Settlement System," Says Bank of Japan Executive
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CBDC Project will Help Enhance Japan's "Settlement System," Says Bank of Japan Executive

Bank of Japan's Kazushige Kamiyama has revealed that the country’s proposed central bank digital currency will enhance the country’s settlement system.

China's e-CNY is Growing, despite Local Payment Options Lack behind
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China's e-CNY is Growing, despite Local Payment Options Lack behind

China’s CBDC is growing at a fast pace as data released official from the PBOC financial markets department revealed the new legal tender has inked a total of 87.57 billion yuan ($13.68 billion) in transactions since public trials began.

Chinese Version CBDC (Digital Yuan) Applied to Guangzhou Housing Provident Fund Loans
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Chinese Version CBDC (Digital Yuan) Applied to Guangzhou Housing Provident Fund Loans

The Guangzhou Housing Provident Fund Management Center has successfully implemented the usage of the Chinese version of the Central Bank Digital Currency (CBDC), commonly known as the digital Yuan, for housing provident fund loans.

China’s Central Bank Digital Currency DCEP Has Been Processed in Pilot Transactions Worth 1.1 Billion Yuan
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China’s Central Bank Digital Currency DCEP Has Been Processed in Pilot Transactions Worth 1.1 Billion Yuan

In the race to be the first country to launch a functional CBDC, China appears to be in the lead, as it has begun experimenting with its digital currency.

UAE Central Bank Pioneers Digital Dirham Transfer to China via mBridge
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UAE Central Bank Pioneers Digital Dirham Transfer to China via mBridge

The UAE Central Bank achieved a significant milestone by executing its first cross-border digital dirham transfer worth 50 million dirhams ($13.6 million) to China using the mBridge platform on January 29, marking a new era in digital currency transactions.

Over 30 Japanese Firms to Conduct Digital Yen Pilot Test
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Over 30 Japanese Firms to Conduct Digital Yen Pilot Test

Major Japanese companies from various sectors will collaborate to engage in a pilot test to issue a private digital currency or Digital Yen.

Albania to Begin Levying Crypto Tax Next Year, Report says
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Albania to Begin Levying Crypto Tax Next Year, Report says

Southern European country Albania is reportedly on track to begin taxing digital currency earnings as of 2023. Individual miners could be charged up to 15% of capital gain tax.

Bank of Korea Speeds up Digital Currency Research, States Central Banks are Driven towards DLT
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Bank of Korea Speeds up Digital Currency Research, States Central Banks are Driven towards DLT

The Bank of Korea (BoK), South Korea’s central bank and monetary issuer, has released its research on the use of digital currencies and blockchain technology for the banking industry.

Qatar to Explore CBDC
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Qatar to Explore CBDC

Qatar is exploring use cases of introducing a CBDC, including all aspects, the pros and cons of the digital currency as well as digital banking.

List of Important Resources on Central Bank Digital Currency (CBDC)
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List of Important Resources on Central Bank Digital Currency (CBDC)

Blockchain has the potential to change the whole monetary and financial industry. But it still has a long way to go, as currently, the money issuance power is in the hands of central banks. The compromised way of welcoming blockchain technology in the monetary and financial industry are the central bank issued stablecoins - CDBC.

Mercado Bitcoin, Stellar Team Collaborate on Brazil’s CBDC Project
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Mercado Bitcoin, Stellar Team Collaborate on Brazil’s CBDC Project

Mercado Bitcoin and the Stellar Development Foundation will explore the possibility of developing CBDC solutions to meet Brazilian future payments needs in a digital economy.

Visa Blockchain Payments Will Help Promote Bank CBDC Integration
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Visa Blockchain Payments Will Help Promote Bank CBDC Integration

Visa is enhancing its blockchain payment drives among its merchants through research while forming partnerships with central banks for CBDC issuance

Ripple Operations Expand in Asia as it Looks to Explore CBDCs with Central Banks despite SEC Legal Pressure
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Ripple Operations Expand in Asia as it Looks to Explore CBDCs with Central Banks despite SEC Legal Pressure

Despite the Securities and Exchange Commission’s lawsuit against its firm, Ripple has continued to expand its services as a fintech firm.

Bank of Jamaica Collaborates with Local Government to Expand CBDC Adoption
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Bank of Jamaica Collaborates with Local Government to Expand CBDC Adoption

In a recent update, it was reported that the Bank of Jamaica is set to partner with the Government to boost the adoption of its central bank digital currency, JamDex, as a payment method.

Digital Dollar Project Floats Sandbox for Harness Potential CBDC Solutions
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Digital Dollar Project Floats Sandbox for Harness Potential CBDC Solutions

The Digital Dollar Project (DDP) has announced the launch of its Technical Sandbox Program that will make further exploration into the potential of the technical exploration of a US CBDC or the Digital Dollar.

Chile's Central Bank Wants More Time to Study CBDCs
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Chile's Central Bank Wants More Time to Study CBDCs

Chile’s apex bank, Banco Central de Chile is exploring more research options to determine whether it will issue a Central Bank Digital Currency (CBDC) or not

IMF Believes Central Banks Need Strong Legal Frameworks for CBDCs to Work
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IMF Believes Central Banks Need Strong Legal Frameworks for CBDCs to Work

The issuance of CBDCs by apex global banks has become a hot topic in the crypto space, and the IMF has delved into it with some precautionary measures.

IMF Urges Countries to Consider Banning Cryptocurrencies
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IMF Urges Countries to Consider Banning Cryptocurrencies

US Treasury Secretary Janet Yellen underlined the need for effective cryptocurrency regulation.

Bank of Japan to Launch CBDC Proof-of-Concept in 2021
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Bank of Japan to Launch CBDC Proof-of-Concept in 2021

The Bank of Japan (BOJ) has revealed its plan to kick start an early proof-of-concept on the issuance of its central bank digital currency (CBDC) next year.

The Bank of Ghana Cooperates with German Giesecke+Devrient to Conduct its CBDC Pilot
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The Bank of Ghana Cooperates with German Giesecke+Devrient to Conduct its CBDC Pilot

The Bank of Ghana has launched cooperation with Giesecke+Devrient to conduct a pilot project for its Central Bank Digital Currency (CBDC) in West Africa Ghana.

Bitcoin Transaction Fees as a Percentage of Total Miner Revenues Hit Lowest Point Since June 2020
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Bitcoin Transaction Fees as a Percentage of Total Miner Revenues Hit Lowest Point Since June 2020

BTC transaction fees have plunged based on the ongoing Chinese crackdown on Bitcoin mining facilities.

Thai Central Bank Issues Stern Warning about Thai Baht Digital (THT) Stablecoin
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Thai Central Bank Issues Stern Warning about Thai Baht Digital (THT) Stablecoin

The Bank of Thailand is warning citizens against using the illegal THT stablecoin.

Bank of England Teams up with MIT on CBDC Research Project
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Bank of England Teams up with MIT on CBDC Research Project

To delve deeper into the opportunities, risks, trade-offs, and potential technical challenges faced when developing a CBDC system, the Bank of England has joined hands Massachusetts Institute of Technology on a year-long research project.

Bank of Japan Wants to Hear From Public About Digital Yen Development
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Bank of Japan Wants to Hear From Public About Digital Yen Development

The head of Bank of Japan (BOJ)’s payments and settlement systems department, recently said that the Central Bank was seeking public opinion on the digital yen.

PayPal CEO Dan Schulman Says He is Bullish on Bitcoin As a Currency
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PayPal CEO Dan Schulman Says He is Bullish on Bitcoin As a Currency

PayPal CEO Daniel Schulman noted in an interview with CNBC that he is bullish on the future of Bitcoin, cryptocurrencies, and Central Bank Digital Currencies

Hong Kong Monetary Authority's Project mBridge Achieves MVP Milestone
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Hong Kong Monetary Authority's Project mBridge Achieves MVP Milestone

Project mBridge reaches MVP stage, exploring CBDCs for cross-border payments.

China to Test its CBDC on Tencent-Backed Platform and Other Domestic Firms to Break Dependence on the US
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China to Test its CBDC on Tencent-Backed Platform and Other Domestic Firms to Break Dependence on the US

China’s central bank has taken another major step forward toward the digital yuan’s mass adoption with its testing on food delivery giant Meituan Dianping. Backed by Tencent, Meituan has been having discussions with the People’s Bank of China’s central bank digital currency (CBDC), also known as digital currency electronic payment (DCEP) research wing.

China PBOC Views CBDC Race as "New Battlefied" Between Sovereign Nations
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China PBOC Views CBDC Race as "New Battlefied" Between Sovereign Nations

China through its apex bank, the People’s Bank of China (PBOC) has reiterated its desire to be the first nation to issue a Central Bank Digital Currency (CBDC)

Australian Senator Bragg Releases New Draft on Digitial Assets
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Australian Senator Bragg Releases New Draft on Digitial Assets

Australian Liberal Senator Andrew Bragg proposed a new draft of the titled Digital Assets (Market Regulation) Bill 2022, aimed at regulating digital asset exchanges.

U.K. Central Bank and Treasury Believe Digital Pound is Needed
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U.K. Central Bank and Treasury Believe Digital Pound is Needed

The Bank of England predicts a UK CBDC by 2030.

Bank of France Tests Out Potential Central Bank Digital Currency by Launching Experiment Program
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Bank of France Tests Out Potential Central Bank Digital Currency by Launching Experiment Program

The Bank of France (Banque de France) is launching a program of experiments testing out a potential central bank digital currency (CBDC) aimed for interbank settlements. Potential participants are being invited to submit their applications, as the Bank of France is calling for applications to experiment with the use of a digital euro.

China’s $1.5 Million Digital Yuan Giveaway in Shenzhen Left Analysts Excited, Citizens Unimpressed
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China’s $1.5 Million Digital Yuan Giveaway in Shenzhen Left Analysts Excited, Citizens Unimpressed

As part of China’s rollout of its central bank digital currency (CBDC), the government had a $1.5 million giveaway of digital yuan to its citizens in Shenzhen.

Bank of Korea Completes 2nd Phase of CBDC Simulation Test
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Bank of Korea Completes 2nd Phase of CBDC Simulation Test

The Bank of Korea said that it has completed a 10-month CBDC simulation experiment research work on the 10-month central bank digital currency.

Digital Euro Will Pull Out Traditional Bank Deposits by 8%, Says Morgan Stanley
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Digital Euro Will Pull Out Traditional Bank Deposits by 8%, Says Morgan Stanley

The advent of the Digital Euro may spark a reduction in cash deposits by 8%, estimated by Morgan Stanley.

Central Bank Digital Currencies Are Not Like Bitcoin or Cryptocurrency
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Central Bank Digital Currencies Are Not Like Bitcoin or Cryptocurrency

CBDC are digital assets, but they are not cryptocurrencies and in fact strike at the heart of the very philosophy that brought Bitcoin into existence.

Bank of Russia Commences Digital Ruble Trials
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Bank of Russia Commences Digital Ruble Trials

The Bank of Russia (BoR) has announced the commencement of its Digital Ruble trials, making the most ambitious push for a functional CBDC in the country.

UAE to Launch and Test in-house Digital Currency
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UAE to Launch and Test in-house Digital Currency

The Central Bank of the United Arab Emirates has plans to develop an in-house digital currency by 2026.

NY Fed's digital currency Test Reveals Feasibility
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NY Fed's digital currency Test Reveals Feasibility

The Innovation Center of the Federal Reserve Bank of New York (NYIC) has successfully completed its proof-of-concept of a regulated liability network (RLN), which was carried out in collaboration with nine significant financial institutions and the Swift network.

PayPal, Visa, Amazon Named as Core Members to Help Bank of England Work on Developing UK’s CBDC
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PayPal, Visa, Amazon Named as Core Members to Help Bank of England Work on Developing UK’s CBDC

The Bank of England has announced the members of the technology and engagement forums, which will help the central bank coordinate exploratory work on a potential UK’s CBDC.

Blockchain Technology Powers Brazil's National Identity Card Issuance
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Blockchain Technology Powers Brazil's National Identity Card Issuance

Brazil has commenced the use of blockchain technology for issuing the National Identity Card (CIN) to enhance security and data integrity in the new identity issuance process. The initial phase begins in three states with a nationwide deadline set for November 6, 2023. This move is part of Brazil's broader initiative towards leveraging blockchain for public service improvement, aligning with global trends of digital identity verification.

Digital Assets Should be Regulated as Part of Banking Industry: Ex-Regulator
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Digital Assets Should be Regulated as Part of Banking Industry: Ex-Regulator

Financial experts are advocating for digital currency innovation and activities to be subsumed into the banking industry, a move that will let regulators permit their overall growth.

Bank of China Achieves Groundbreaking $14 Million e-CNY CBDC Settlement in Gold
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Bank of China Achieves Groundbreaking $14 Million e-CNY CBDC Settlement in Gold

The Bank of China's Shanghai branch successfully settled a $14 million e-CNY CBDC for gold, marking a significant advancement in digital currency's role in international trade.

Japan Accelerates Digital Yen Plans Amidst Global CBDC Race
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Japan Accelerates Digital Yen Plans Amidst Global CBDC Race

Japan is advancing its plans for a digital yen, with the Bank of Japan set to pilot a CBDC program and the finance ministry preparing an expert panel to address legalities, signaling a significant shift in Japan's traditional cash-centric economy.

The UK is a step closer to launching a central bank digital currency
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The UK is a step closer to launching a central bank digital currency

The Bank of England thinks crypto stablecoins and a central-bank-issued "digital pound" might coexist.

UAE's Central Bank Completes Wholesale CBDC Pilot Program
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UAE's Central Bank Completes Wholesale CBDC Pilot Program

UAE's Central Bank has completed running its wholesale CBDC trials, readying for the next development phase.

Bank of Ghana to Drive Financial Inclusion through CBDC
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Bank of Ghana to Drive Financial Inclusion through CBDC

The focus of the CBDC in the country was confirmed by Kwame Oppong, the head of fintech and innovation at the Bank of Ghana (BOG).

US Representative Tom Emmer Introduces Legislation to Limit Fed
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US Representative Tom Emmer Introduces Legislation to Limit Fed

Representative Tom Emmer presented the "CBDC Anti-Surveillance State Act" to encourage financial privacy and CBDC transparency.

Ex-IMF Top Economist Shortlisted to Lead Roxe's CBDC Pursuit
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Ex-IMF Top Economist Shortlisted to Lead Roxe's CBDC Pursuit

Former IMF economist Andreas Jobst will lead Roxe's CBDC Solutions built to leverage the Bitcoin hashrate.

Bank of Russia Delays CBDC Pilot Rollout
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Bank of Russia Delays CBDC Pilot Rollout

The Bank of Russia's CBDC pilot rollout has been delayed indefinitely due to legislation only passing through the first reading. The number of participating private banks has also changed to 13 from 15, with the pilot involving real operations and limited consumers.

Argentina’s Central Bank Set to Prove Non-Crypto Use Cases of Blockchain Technology with its New Clearing System
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Argentina’s Central Bank Set to Prove Non-Crypto Use Cases of Blockchain Technology with its New Clearing System

The Central Bank of Argentina (BCRA) is now looking to test a blockchain-based clearing system to be used by the country’s major financial institutions. The aim of the blockchain clearing system is to provide efficiencies for fiat payments and enable them to be more reliable and to provide end-to-end traceability.

JP Morgan: Groundwork Now in Place for Mainstream Blockchain and Digital Currency Adoption
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JP Morgan: Groundwork Now in Place for Mainstream Blockchain and Digital Currency Adoption

JPMorgan published a report showing a significant move towards blockchain, enormous growth of blockchain, and challenges hindering mainstream adoption.

HK FinTech Week: China’s eCNY Wallet Registers 140M Users, Rises 6 Times More, says PBoC Official
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HK FinTech Week: China’s eCNY Wallet Registers 140M Users, Rises 6 Times More, says PBoC Official

China’s digital yuan wallet has witnessed its user base rise six times more just after the past four months to hit 140 million active accounts.

BIS Conference Addresses Cybersecurity in Central Bank Digital Currencies (CBDC)
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BIS Conference Addresses Cybersecurity in Central Bank Digital Currencies (CBDC)

Agustín Carstens, General Manager of the Bank for International Settlements, highlighted the importance of cybersecurity for central bank digital currencies (CBDCs) during a conference in Basel, Switzerland, emphasizing the need for secure, user-friendly, and adaptable systems.

Dutch Central Bank Aims to Play Leading Role in Developing CBDC in Europe as Part of Plan to Become Increasingly Digital
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Dutch Central Bank Aims to Play Leading Role in Developing CBDC in Europe as Part of Plan to Become Increasingly Digital

The Dutch central bank, De Nederlandsche Bank made an announcement in its bulletin, saying that it aims to become the world leader in the development of central bank digital currencies (CBDCs). The report highlighted that the topic of CBDC has gained more public exposure in the Netherlands than in “several other euro area countries for several reasons.”

Visa Developing Interoperable Transfers among CBDC Payments
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Visa Developing Interoperable Transfers among CBDC Payments

Visa is rolling out a new interoperability feature facilitating digital currency payments among different parties. Visa aims to establish a bridge payment between digital currencies on the blockchain ecosystem.

Regulating the Metaverse: BIS's Call for Unity
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Regulating the Metaverse: BIS's Call for Unity

BIS emphasizes the need for interoperable payment technologies and robust regulatory framework to prevent metaverse fragmentation and private interests dominance, emphasizing Central Bank Digital Currencies' importance.

South Dakota Governor Vetoes Bill Excluding Cryptocurrencies from State's Definition of Money
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South Dakota Governor Vetoes Bill Excluding Cryptocurrencies from State's Definition of Money

Governor Kristi Noem of South Dakota has vetoed House Bill 1193, which sought to exclude cryptocurrencies from the state's definition of money. The governor believes that the bill would put South Dakota at a disadvantage and potentially lead to future overreach from the federal government in issuing a digital dollar.

Dutch Central Bank Grants First-Ever Crypto Service Registration
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Dutch Central Bank Grants First-Ever Crypto Service Registration

The Amsterdam Digital Asset Exchange (AMDAX) has secured the De Nederlandsche Bank (DNB) in line with EU Anti Money Laundering guidelines.

Tanzania wary about CBDC adoption following studies
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Tanzania wary about CBDC adoption following studies

Tanzania's central bank is proposing a central bank digital currency (CBDC). An East African interdisciplinary technical team examined CBDC hazards and advantages. Four governments have halted CBDC adoption plans, while six have abandoned digital currencies.

IMF Official Talks Benefits and Shortcomings of CBDCs, Proposes a Hybrid Solution
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IMF Official Talks Benefits and Shortcomings of CBDCs, Proposes a Hybrid Solution

Tao Zhang, deputy managing director of the International Monetary Fund (IMF), acknowledges the tremendous promise that CBDCs hold and challenges lying ahead.

E-HKD’s Development in Hong Kong- The Future Way of Currency?
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E-HKD’s Development in Hong Kong- The Future Way of Currency?

Exclusive: a study shows that 90% of surveyed central banks worldwide are exploring the future issuance of CBDCs. Blockchain.News interviewed industry experts to find out the outlook of e-HKD and its potential adoption.

China to Prioritize Testing its Central Bank Digital Currency in Wealthier Cities First
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China to Prioritize Testing its Central Bank Digital Currency in Wealthier Cities First

China is planning a more extensive expansion of the testing of its central bank digital currency (CBDC) after reportedly starting its first tests in the Greater Bay Area.

BIS to Adopt DeFi Implementation in Forex CBDC Markets
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BIS to Adopt DeFi Implementation in Forex CBDC Markets

The Bank for International Settlements (BIS), along with the “Eurosystem” – central banks of France, Singapore, and Switzerland will be launching a new project called “Project Mariana.”

Ethereum’s Vitalik Buterin: Centralized Digital Currencies Without Privacy Are a Huge Step Back
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Ethereum’s Vitalik Buterin: Centralized Digital Currencies Without Privacy Are a Huge Step Back

Vitalik Buterin the Ethereum co-founder believes that mainstream adoption of digital currencies is inevitable, with or without blockchain, but will that currency be sovereign, corporate or decentralized?

Exclusive: Johan Hörmark on SEB's Blockchain-Driven Bond Platform
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Exclusive: Johan Hörmark on SEB's Blockchain-Driven Bond Platform

Johan Hörmark, Project Manager at SEB, discusses the transformative potential of their blockchain-based digital bond platform, so|bond, in the financial secto

BIS Newest Quarterly Report: What Potentials Do CBDCs and Distributed Ledger Technology Hold?
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BIS Newest Quarterly Report: What Potentials Do CBDCs and Distributed Ledger Technology Hold?

The Bank for International Settlements (BIS) has released its newest quarterly report on the changes in the payment industry, including the market impact of the recent coronavirus outbreak. Some of the trends mentioned in the report include stablecoins, tokenized securities, central bank digital currencies (CBDCs), cross-border payments, and peer-to-peer payments.

Tencent, Huawei, and Baidu Executives to Join China’s New National Blockchain Committee to Set Industrial Standards
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Tencent, Huawei, and Baidu Executives to Join China’s New National Blockchain Committee to Set Industrial Standards

The Chinese central government has put together a national blockchain committee to work on setting industrial standards. The Ministry of Industry and Information Technology (MIIT) issued a notice on April 13 of the “Public Notice on the Formation of a National Blockchain and Distributed Ledger Technology Standardization Technical Committee.”

Dr. Alicia Garcia-Herrero's Take on China’s CBDC and Facebook’s Libra
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Dr. Alicia Garcia-Herrero's Take on China’s CBDC and Facebook’s Libra

In Part 2 of the interview, Garcia-Herrero explained the disruption of China’s CBDC – digital currency electronic payment (DCEP) on China’s monetary system. She also commented on the basket of currencies that Facebook’s Libra supports and Libra’s potential threat to monetary sovereignty.

ECB Advances Digital Euro Project into Preparation Phase
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ECB Advances Digital Euro Project into Preparation Phase

The ECB's progression into the preparation phase of the digital euro project marks a pivotal step towards modernizing Europe's financial infrastructure. The digital euro, envisioned as a secure, accessible, and private means of digital payment, holds the promise of fortifying the European monetary system in the digital age.

Huawei Files Patent For Blockchain Ledger Storage and Device
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Huawei Files Patent For Blockchain Ledger Storage and Device

Chinese technology giant Huawei has applied for a patent on a new blockchain-based storage systems.

SAMA is Ramping Up Its Research into Central bank digital currencies
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SAMA is Ramping Up Its Research into Central bank digital currencies

SAMA is expanding its central bank digital currency study (CBDCs). Saudi Vision 2030 aims to diversify the economy, decrease oil dependency, and improve public services.

Russia’s Tinkoff Faces Regulatory Challenges to Offer Crypto Investments
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Russia’s Tinkoff Faces Regulatory Challenges to Offer Crypto Investments

Tinkoff's CEO complained that Russia's biggest online bank is unable to offer cryptocurrencies for clients due to the tough stance from Russia's central bank.

COVID-19 Pandemic-Induced Crisis is Pushing CBDC Adoption, says Bank of Russia
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COVID-19 Pandemic-Induced Crisis is Pushing CBDC Adoption, says Bank of Russia

Financial regulators are keeping a keen eye on central bank digital currencies (CBDCs) because they see them as silver linings.

Digital Yuan Transactions Overtakes Visa during Beijing Winter Olympics
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Digital Yuan Transactions Overtakes Visa during Beijing Winter Olympics

According to a Wall Street Journal, at the opening ceremony of the 2022 Winter Olympics in Beijing, the number of transactions using the digital yuan greatly exceeded that of Visa.

ECB President Lagarde: Digital Euro CBDC Will Complement Not Substitute Cash
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ECB President Lagarde: Digital Euro CBDC Will Complement Not Substitute Cash

Christine Lagarde, President of the European Central Bank (ECB), said that a CBDC or digital euro would most likely work in tandem with fiat currency, not replace it.

Leaked EU Commission Draft on Crypto Assets Law: How Will Cryptocurrency be Regulated?
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Leaked EU Commission Draft on Crypto Assets Law: How Will Cryptocurrency be Regulated?

A leaked European Union legislative draft on digital assets reveals the country's plans for cryptocurrency trading and issuance across the nation.

Mastercard VP On Blockchain, Digital Assets and CBDC: “Everything Ends in Transactions and Payments”
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Mastercard VP On Blockchain, Digital Assets and CBDC: “Everything Ends in Transactions and Payments”

Ashok Venkateswaran, Mastercard’s Blockchain and Digital Assets Lead, Asia Pacific shares insights on the payment giant's new blockchain and digital initiatives.

Federal Reserve's Bowman Discusses Digital Currency Innovations Amid CBDC Debate
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Federal Reserve's Bowman Discusses Digital Currency Innovations Amid CBDC Debate

Federal Reserve Governor Michelle Bowman, in a discussion at Harvard Law School, explored the evolving digital payment landscape, touching on CBDC, stablecoins, and the necessity for a robust regulatory framework. While recognizing the potential of digital assets, she emphasized a cautious approach, underscoring the importance of continued research and international collaboration to navigate the digital transformation responsibly.

China to Build ‘Digital Central Bank’ Infrastructure, Striving to Become the World’s Leader in Digital Currency Development
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China to Build ‘Digital Central Bank’ Infrastructure, Striving to Become the World’s Leader in Digital Currency Development

China’s Central Bank, People’s Bank of China (PBoC) is planning to look into building a digital central bank infrastructure to improve the standards of financial services in the country. On May 18, the Chinese Central Bank’s 2020 video conference on scientific and technological work was held in its capital, Beijing. The meeting focused on the technological achievements made in 2019, an in-depth analysis of the current situation and challenges, and the upcoming key plans for 2020.

The Bahamas Becomes First Country to Launch its CBDC, the ‘Sand Dollar’
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The Bahamas Becomes First Country to Launch its CBDC, the ‘Sand Dollar’

The Bahamas has launched the Sand Dollar, making it the first country in the world to officially release a central bank digital currency (CBDC) beyond the testing phase.

eToro CEO: Central Banks will Inevitably Establish Digital Currencies
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eToro CEO: Central Banks will Inevitably Establish Digital Currencies

Yoni Assia, eToro’s CEO, recently weighed in on the issue of Central Bank Digital Currencies. He noted that this matter was no longer an issue of “if,” but of “how and when” because the development of digital currencies by central banks was inevitable.

National Bank of Georgia Considers Launching Its Own Central Bank Digital Currency
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National Bank of Georgia Considers Launching Its Own Central Bank Digital Currency

The National Bank of Georgia believes that the CBDCs have become essential for the financial ecosystem to improve financial inclusion and enhance domestic payment systems.

Bank of China Launches e-CNY Smart Contract Product for Off-campus School Education
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Bank of China Launches e-CNY Smart Contract Product for Off-campus School Education

The Bank of China, in collaboration with the Education Bureau and financial authorities of Longquanyi District, Chengdu, has launched an educational electronic RMB smart contract prepaid fund management product, according to Chinese news media Sohu.com.

Financial Services Reforms Advance UK Crypto Ambitions
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Financial Services Reforms Advance UK Crypto Ambitions

The U.K. Chancellor of the Exchequer, Jeremy Hunt, laid out a number of reforms aiming to "drive growth and competitiveness" to the country's financial services sector. The reforms include consulting on proposals for the establishment of a central bank digital currency (CBDC), extending a crypto tax break for investment managers and creating a sandbox that lets firms and regulators test new technologies.

Turkish Central Bank Announces Partnership with Technology Firms to Develop CBDC
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Turkish Central Bank Announces Partnership with Technology Firms to Develop CBDC

Turkey’s central bank has expanded its commitment towards launching a CBDC. The monetary authority has formed partnerships with technology firms to develop a prototype of a national digital currency.

Fed Reserve Chair Says Central Bank Needs to Issue Digital Currency Right not First
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Fed Reserve Chair Says Central Bank Needs to Issue Digital Currency Right not First

Jerome Powell, the Federal Reserve chairman, discussed digital currencies and cross-border payments on an IMF panel, revealing the United States' approach to CBDC.

Hong Kong to “Seize the Opportunities” of China’s Digital Yuan CBDC Development
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Hong Kong to “Seize the Opportunities” of China’s Digital Yuan CBDC Development

The Hong Kong government is considering collaborating with the mainland Chinese authorities on the country’s central bank digital currency (CBDC) project.

G7 Set to Release the Guidelines for the Creation of CBDCs
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G7 Set to Release the Guidelines for the Creation of CBDCs

The Group of Seven (G7) industrialized nations are looking forward to accepting the proposals of a draft which seeks to enshrine some set of standards in the creation and issuance of CBDCs.

UK Group to Run Pilot Retail CBDC, Providing Data to Bank of England
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UK Group to Run Pilot Retail CBDC, Providing Data to Bank of England

The private consortium, called the Digital FMI Consortium, will carry out a real-world CBDC pilot with a ‘digital pound’ (dSterling).

Do Europeans Want a Decentralized Digital Euro? Asks ECB Survey
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Do Europeans Want a Decentralized Digital Euro? Asks ECB Survey

Do Europeans want a decentralized digital euro that does not rely on a central intermediary? The European Central Bank is asking for public opinion on CBDC with a new survey.

Chinese CBDC's Backend Developments are Complete, Revealed During 2020 FinTech Forum
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Chinese CBDC's Backend Developments are Complete, Revealed During 2020 FinTech Forum

The world’s attention is on China who has recorded a great advancement in the development of its central bank digital currency (CBDC). The Chinese CBDC project, also known as digital currency electronic payment (DCEP) entered its testing phase back in April with a test run billed for four major cities.

Ripple Labs to Provide Infrastructure for Establishing Bhutan’s Digital Ngultrum
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Ripple Labs to Provide Infrastructure for Establishing Bhutan’s Digital Ngultrum

Bhutan has tapped the services of blockchain payments firms Ripple Labs Inc to design its Central Bank Digital Currency (CBDC), the Digital Ngultrum.

Nigerian Government Enhances eNAIRA to Draw Financial Inclusion
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Nigerian Government Enhances eNAIRA to Draw Financial Inclusion

The Central Bank of Nigeria (CBN) has announced the upgrade to its Central Bank Digital Currency (CBDC) dubbed the eNAIRA.

Kazakhstan to Integrate its Digital Tenge into the BNB Chain
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Kazakhstan to Integrate its Digital Tenge into the BNB Chain

Binance CEO has confirmed the National Bank of Kazakhstan will integrate its Digital Tenge into the BNB Chain ecosystem

UK Treasury Drafting Private Stablecoin Regulations and Researching CBDC with BoE
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UK Treasury Drafting Private Stablecoin Regulations and Researching CBDC with BoE

The United Kingdom’s Treasury Department has announced it is drafting private stablecoin regulation while it continues central bank digital currency (CBDC) research.

HKMA Forms "Project Ensemble Architecture Community" to Shape Tokenization Standards
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HKMA Forms "Project Ensemble Architecture Community" to Shape Tokenization Standards

The Hong Kong Monetary Authority has established the "Project Ensemble Architecture Community" to promote interoperability among WCCBDCs and tokenized assets, aiming for seamless interbank settlement.

BIS builds out "game-changing" blueprint for the future monetary and financial system
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BIS builds out "game-changing" blueprint for the future monetary and financial system

The Bank for International Settlements (BIS) is set to redefine the global financial landscape with its newly released blueprint for a futuristic monetary system.

Fireblocks Taps Former BoE Fintech Head as its CBDC Director
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Fireblocks Taps Former BoE Fintech Head as its CBDC Director

Digital assets infrastructure provider Fireblocks has announced the onboarding of Varun Paul, the former head of fintech at the Bank of England (BoE) as its new Central Banking Digital Currency (CBDC) and Market Infrastructure Director.

NBG Georgia Shortlists Ripple Among Tech Firms for CBDC Pilot
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NBG Georgia Shortlists Ripple Among Tech Firms for CBDC Pilot

The National Bank of Georgia progresses with its Digital GEL Pilot Project, focusing on the exploration of Central Bank Digital Currency (CBDC) technology. Nine technology firms, including Ripple Labs, Inc., have been shortlisted for potential collaboration. The initiative mirrors global trends in modernizing financial infrastructures to meet the digital economy's evolving demands.

India UPI expanding services to Singapore
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India UPI expanding services to Singapore

The eight-bank digital rupee pilot programme has processed 770,000 transactions.

Brazil Considers CBDC Project as a Means to Innovate Digitally: Economist
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Brazil Considers CBDC Project as a Means to Innovate Digitally: Economist

The development of CBDC means several things to several people, and for Brazil, it is a broad complement to its already transforming payment ecosystem.

StanChart CEO Bill Winters: Mass Adoption of Digital Currencies is "Absolutely Inevitable"
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StanChart CEO Bill Winters: Mass Adoption of Digital Currencies is "Absolutely Inevitable"

Standard Chartered CEO Bill Winters delved into the issue of digital currencies and said that he believes their widespread creation and rollout was absolutely inevitable.

Shaping the Future of Banking: Standard Chartered and PwC China Release White Paper on Central Bank Digital Currency"
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Shaping the Future of Banking: Standard Chartered and PwC China Release White Paper on Central Bank Digital Currency"

Standard Chartered, in collaboration with PwC China, have co-published a comprehensive white paper detailing the potential advancements in the future of banking, courtesy of Central Bank Digital Currency (CBDC).

Bank of Russia Reveals the Possibility of Developing a CBDC in Public Consultation Report
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Bank of Russia Reveals the Possibility of Developing a CBDC in Public Consultation Report

In the recently published public consultation on the digital rubble, the Bank of Russia acknowledged it is considering the potentials of issuing a CBDC.

Bank of Korea Prepares for 2024 Public Trial of Its Central Bank Digital Currency
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Bank of Korea Prepares for 2024 Public Trial of Its Central Bank Digital Currency

The Bank of Korea, South Korea's central bank, is setting the stage for its first public trial of a Central Bank Digital Currency (CBDC) in 2024.

Facebook and Calibra Head David Marcus: What Problems Would Wholesale CBDCs Even Solve?
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Facebook and Calibra Head David Marcus: What Problems Would Wholesale CBDCs Even Solve?

During a panel discussion at the World Economic Forum which included the topic of Central Bank Digital Currencies (CBDCs), David Marcus, Head of Calibra, highlighted that digital currencies are the key to innovate cross-border payments and solve the issues of the unbanked—regardless of if that digital currency is Libra or not.

Ripple Co-Founder says US-China Tech Cold War Will Be Won and Lost on Crypto and Blockchain Battlefield
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Ripple Co-Founder says US-China Tech Cold War Will Be Won and Lost on Crypto and Blockchain Battlefield

Ripple Co-Founder, Chris Larsen believes the Cold Tech War between China and the United States is going to be won and lost on the blockchain battlefield.

Chinese Yuan Poised to Become the World’s Third Largest Reserve Currency by 2030—Is DCEP Part of the Plan?
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Chinese Yuan Poised to Become the World’s Third Largest Reserve Currency by 2030—Is DCEP Part of the Plan?

Morgan Stanley analysts are predicting that the Chinese yuan will become the third-largest reserve currency in the world, is the DCEP part of the plan?

U.S. Should Examine Chinese Digital Yuan Rollout during Winter Olympics: Senator Toomey
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U.S. Should Examine Chinese Digital Yuan Rollout during Winter Olympics: Senator Toomey

Senator Pat Toomey, a senior member of the U.S. Senate Banking Committee, urges the Treasury and State Departments closely examine Beijing’s CBDC rollout during the Olympic Games.

How Far Away is Japan’s CBDC? Bank of Japan Meets with Monetary Authorities on Potential Digital Yen Issuance
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How Far Away is Japan’s CBDC? Bank of Japan Meets with Monetary Authorities on Potential Digital Yen Issuance

Japan’s Monetary Authorities Get Serious About CBDC Research and Roll Out

Ripple Labs Inc Floats CBDC Innovate Challenge
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Ripple Labs Inc Floats CBDC Innovate Challenge

Digital currency payments company Ripple Labs Inc has announced a new hackathon dubbed the CBDC Innovate Challenge for developers who can build XRP Ledger-powered payment solutions bordering on Central Bank Digital Currency technology

PBOC Governor Says Digital Yuan Will Prioritize Privacy Protection
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PBOC Governor Says Digital Yuan Will Prioritize Privacy Protection

China's PBoC Governor Yi Gang has reassured that the country's Digital Yuan will prioritize privacy protection

Economic Affairs Committee Unsure UK Needs Retail CBDC
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Economic Affairs Committee Unsure UK Needs Retail CBDC

The United Kingdom’s Economic Affairs Committee has shared its views on the proposed plans by the country to launch a Central Bank Digital Currency (CBDC) or digital Pound.

Swift's CBDC Connector Enters Beta Testing with Global Central Banks
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Swift's CBDC Connector Enters Beta Testing with Global Central Banks

Swift, a leading provider of secure financial messaging services, has announced beta testing of its Central Bank Digital Currency (CBDC) interoperability solution. The initiative aims to bridge the gap between digital and fiat-based currencies, with three central banks and over 30 financial institutions participating in the second phase of sandbox experiments. Swift's CBDC initiative aims to ensure digital currencies and tokenized assets seamlessly integrate into the financial ecosystem, preventing "digital islands" and facilitating global value transfer.

Federal Reserve Has Been Advancing CBDC Research with US Regional Banks’ Contributions
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Federal Reserve Has Been Advancing CBDC Research with US Regional Banks’ Contributions

The Federal Reserve's research and development on a central bank digital currency issuance has been complemented by several regional Federal banks' efforts.

Chinese State-Owned Banks Start Exploring Digital Yuan Use-Cases for Buying Investment Funds & Insurance Products
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Chinese State-Owned Banks Start Exploring Digital Yuan Use-Cases for Buying Investment Funds & Insurance Products

Two Chinese state-owned banks have begun working to fund management and insurance companies to explore the use cases of digital yuan CBDC for purchasing investment funds and insurance products online.

Reliance Retail accept digital rupee at one store
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Reliance Retail accept digital rupee at one store

Reliance Retail has pledged to assist India's CBDC throughout its companies.

Bank of Israel Has Conducted Digital Currency Shekel Crypto Testing
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Bank of Israel Has Conducted Digital Currency Shekel Crypto Testing

Israel announced that the country has already conducted a pilot test on its digital shekel as part of its efforts to issue the Central Bank Digital Currency for public use.

Bank for International Settlements to Issue a PoC CBDC With the Swiss Central Bank Before the End of 2020
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Bank for International Settlements to Issue a PoC CBDC With the Swiss Central Bank Before the End of 2020

The Bank for International Settlements is set to issue a CBDC at the Proof of Concept stage in conjunction with the Swiss National Bank before year-end.

Swiss Central Bank Announces its Central Bank Digital Currency Trial a Success
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Swiss Central Bank Announces its Central Bank Digital Currency Trial a Success

The digital franc trial entailed settling large scale transactions between financial institutions through an experiment dubbed Project Helvetia.

Bank of Japan Puts Top Economist in Charge of CBDC Development
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Bank of Japan Puts Top Economist in Charge of CBDC Development

Bank of Japan’s top economist, Kazushige Kamiyama is now the head of payments and settlements and at the helm of Japan’s exploration of its Central Bank Digital Currency (CBDC) project.

Bank of Thailand Projected to Go Forward with Central Bank Digital Currency Prototype
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Bank of Thailand Projected to Go Forward with Central Bank Digital Currency Prototype

The Bank of Thailand (BOT) announced its plans for a Central Bank Digital Currency (CBDC) prototype to be in effect by 2021. The BOT plans to begin the production of their prototype for a CBDC next month.

Bank of France Becomes the First to Successfully Test Out the Digital Euro on Blockchain
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Bank of France Becomes the First to Successfully Test Out the Digital Euro on Blockchain

The French Central Bank, Banque de France has recently successfully trialed a central bank digital currency (CBDC) – the digital euro, operating on a blockchain. The Bank of France experimented with the use of a central bank digital currency to test a sale of securities, which was carried out by Société Générale Forge. Banque de France launched a program of experiments to test out potential central bank digital currency (CBDC) aimed for interbank settlements. Potential participants have been invited to submit their applications to experiment with the use of a digital euro.

Bank of China Hong Kong Completes Digital RMB Sandbox Trial
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Bank of China Hong Kong Completes Digital RMB Sandbox Trial

Bank of China Hong Kong announces that the second phase of its digital Renminbi (e-CNY) priority experience events, staged in collaboration with Bank of China's mainland branches, was a success.

ECB to Announce by Mid-2021 Whether It Will Move Forward with CBDC Issuance
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ECB to Announce by Mid-2021 Whether It Will Move Forward with CBDC Issuance

European Central Bank (ECB) President Christine Lagarde said that a decision on whether or not to launch a CBDC will be made by the middle of this year.

R3 and Asian Central Banks Join Forces to Unravel Central Bank Digital Currencies
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R3 and Asian Central Banks Join Forces to Unravel Central Bank Digital Currencies

Blockchain.News spoke with Carl Wegner, the Head of Asia Pacific at R3, who has been with the company for over three years, with a major focus on developing business and partnership opportunities for the consortium. Having been in the trade finance industry for over 30 years, Wegner feels that it is an incredible opportunity for blockchain to help streamline processes.   

Mauritius Jumps on Digital Currency Bandwagon
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Mauritius Jumps on Digital Currency Bandwagon

The issuance of Central Bank Digital Currency (CBDC) has been making airwaves with nations, such as China, leading the hype. The Bank of Mauritius, the central bank of the Republic of Mauritius, seeks to join this bandwagon based on an announcement that it wants to introduce a digital currency.

ConsenSys Picked to Help Develop Phase 2 of Hong Kong's CBDC Project
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ConsenSys Picked to Help Develop Phase 2 of Hong Kong's CBDC Project

Blockchain firm ConsenSys has revealed that it has been awarded a cross-border payment network study project by the Hong Kong Monetary Authority (HKMA)

CBDCs Gain Traction Amid Fears of Coronavirus-Contaminated Banknotes, The Economist Survey Uncovers
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CBDCs Gain Traction Amid Fears of Coronavirus-Contaminated Banknotes, The Economist Survey Uncovers

In a survey conducted by The Economist and Crypto.com, it found that consumers generally had more trust in central bank digital currencies (CBDCs), rather than decentralized cryptocurrencies.

Mastercard Reveals to Develop CBDC as The Private Payment Provider
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Mastercard Reveals to Develop CBDC as The Private Payment Provider

Digital payment Mastercard CEO Michael Miebach expresses his strong support for CBDC on the Q3 earnings conference call.

Jeff Bezos Amazon Among 5 Partners to Design Digital Euro Prototype
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Jeff Bezos Amazon Among 5 Partners to Design Digital Euro Prototype

The European Central Bank (ECB), has confirmed Jeff Bezos's tech company AMAZON, as part of the five partners to design a digital euro prototype

Ghana Apex Bank Says To Launch Central Bank Digital Currency
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Ghana Apex Bank Says To Launch Central Bank Digital Currency

The Bank of Ghana Governor, Ernest Addison said the agency is now “in the advanced stages” of introducing its CBDC.

Digital Dollar's Benefits Could Affect Financial Stability & Privacy: US Fed
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Digital Dollar's Benefits Could Affect Financial Stability & Privacy: US Fed

The US Federal Reserve said that the introduction of an official digital version of the US dollar could benefit Americans but it may also potentially affect financial stability and privacy.

Bank of China’s Former President Lists Four Key Conditions For Digital Yuan to Replace Cash
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Bank of China’s Former President Lists Four Key Conditions For Digital Yuan to Replace Cash

The former head of the People’s Bank of China announced that the soon to be launched Digital Yuan will be able to replace cash if certain key conditions are met.

Fed Chair Powell: Cryptocurrencies not Useful Stores of Value and CBDC Issuance Will not be Immediate
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Fed Chair Powell: Cryptocurrencies not Useful Stores of Value and CBDC Issuance Will not be Immediate

Federal Reserve Chairman Jerome Powell’s stance on Bitcoin and cryptocurrencies remains unchanged – he views them primarily as “a speculative asset.”

$30m e-CNY Airdropped in Shenzhen to Boost Consumer Spending
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$30m e-CNY Airdropped in Shenzhen to Boost Consumer Spending

The use of China’s Central Bank Digital Currency (CBDC) is currently being boosted by the city of Shenzhen which according to reports has airdropped 30 million Digital Yuan (e-CNY) to its residents.

UAE's Central Bank Nears Launch of Digital Dirham
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UAE's Central Bank Nears Launch of Digital Dirham

The UAE's central bank is close to launching its central bank digital currency (CBDC), the digital dirham, for domestic and cross-border payments. The CBUAE has partnered with G42 Cloud and R3 to be the infrastructure and technology providers for the CBDC implementation, which will boost financial inclusion and help the country become a cashless society. The first phase of the CBDC strategy includes the soft launch of "mBridge," proof-of-concept work for bilateral CBDC bridges with India, and domestic CBDC issuance for wholesale and retail use.

Fundstrat’s Thomas Lee Discusses: What Happens After the 10 Best Days for Bitcoin?
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Fundstrat’s Thomas Lee Discusses: What Happens After the 10 Best Days for Bitcoin?

Thomas Lee, the Co-Founder, Managing Director, and Head of Research at Fundstrat Global Advisors, known for his opinions on the Bitcoin and crypto market has sat down with Blockchain.News to discuss his views on some macro trends and the Bitcoin industry we’re currently observing.

CBDCs Are Bad News to European Banks, says Bank of America Analysts
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CBDCs Are Bad News to European Banks, says Bank of America Analysts

Bank of America analysts have made important revelations concerning the launch of CBDCs. They recently disclosed that CBDCs are bad news to European Banks.

The Bank of Jamaica Suggests Court Order Approval Required for Tracking CBDC Transactions
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The Bank of Jamaica Suggests Court Order Approval Required for Tracking CBDC Transactions

The Bank of Jamaica (BOJ) believes it must obtain a court order approval for tracking CBDC transactions, apart from wallet holders and issuers.

Bank of England is for Stablecoin and CBDC, but Says ‘Bitcoin Has No Connection at All to Money’
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Bank of England is for Stablecoin and CBDC, but Says ‘Bitcoin Has No Connection at All to Money’

The governor of the Bank of England, Andrew Bailey, shared his views on Bitcoin and said that the cryptocurrency “had no connection at all to money.”

BOJ Governor: Japan Should Prepare "Thoroughly" for the Issuance of its  Digital Currency
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BOJ Governor: Japan Should Prepare "Thoroughly" for the Issuance of its Digital Currency

Haruhiko Kuroda, the Bank of Japan (BOJ) governor, has highlighted the need for the nation’s central bank to prepare thoroughly for the rollout of its digital currency with initial experiments expected for this spring.

South Korea Seeks Tech Partner to Build the Pilot Program for CBDC
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South Korea Seeks Tech Partner to Build the Pilot Program for CBDC

South Korea's central bank on Monday said it would choose a technology supplier to build a pilot platform for a digital currency, moving a step closer to creating a central bank-backed digital currency.

IMF to Play a Crucial Role in Monitoring Digital Money Evolution
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IMF to Play a Crucial Role in Monitoring Digital Money Evolution

The IMF is set to play a crucial role in monitoring the advancement of digital currencies.

Bank of France Announces HSBC, Accenture Among the 8 Successful Applicants of the CBDC Experimentation Program
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Bank of France Announces HSBC, Accenture Among the 8 Successful Applicants of the CBDC Experimentation Program

Earlier this year, Banque de France, the French central bank launched a program of experiments to test out the potential central bank digital money aimed for interbank settlements. The program of experiments was launched in late March 2020, where the central bank asked participants to submit their applications before May 15, 2020. The French central bank is open to test out new technology, although it did not specify using blockchain.

China’s CBDC Testing Expansions Exaggerated, Digital Currency Details Revealed
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China’s CBDC Testing Expansions Exaggerated, Digital Currency Details Revealed

A source close to the matter said that China's CBDC pilot program "has not yet been expanded on a large scale," and the test is just "internal and closed.”

Bank Indonesia to Evaluate CBDC Influence to Local Economy
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Bank Indonesia to Evaluate CBDC Influence to Local Economy

Governor of the Bank Indonesia (BI) suggested that crypto can facilitate financial system efficiencies and inclusion. The administration is evaluating the impact of adopting CBDC on the local economy.

Bank of Korea Seeks a Consulting Partner to Accelerate CBDC Launch
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Bank of Korea Seeks a Consulting Partner to Accelerate CBDC Launch

The Bank of Korea (BoK) is in search of a consulting partner to help develop the architecture for its Central Bank Digital Currency (CBDC).

Philippines Central Bank To Research Further Before Launching its CBDC
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Philippines Central Bank To Research Further Before Launching its CBDC

Philippines Central Bank governor Benjamin Diokno has recommended further research with respect to the proposed Digital Peso, central bank digital currency.

Nigeria's E-Naira Gains Momentum, Tackles Influence of Volatile Cryptos
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Nigeria's E-Naira Gains Momentum, Tackles Influence of Volatile Cryptos

Nigeria's further efforts to curb the influence of cryptocurrencies have begun to bear fruits as its introduction of a centralised digital currency eNaira has lured about half a million users within three weeks.

China Leads Pan-Asian Digital Currency Project to Compete with Facebook's Libra
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China Leads Pan-Asian Digital Currency Project to Compete with Facebook's Libra

Led by China, four Asian countries are in the early stages of developing a joint digital currency. The currency will help keep the Dollar and Libra in check

Brazil Could Deploy CBDC by 2022, Says Central Bank President
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Brazil Could Deploy CBDC by 2022, Says Central Bank President

According to Brazil’s Central Bank president Roberto Campos Neto, the country has all the necessary implementations set in place for a digital currency issuance to happen in 2022.

Bitcoin Will Not Likely Be Held by Central Banks in the Future, Says ECB President Christine Lagarde
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Bitcoin Will Not Likely Be Held by Central Banks in the Future, Says ECB President Christine Lagarde

Christine Lagarde, the President of the European Central Bank, has once again made her stance on Bitcoin clear.

Venezuela to Launch its Central Bank Digital Currency in October
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Venezuela to Launch its Central Bank Digital Currency in October

The Central Bank of Venezuela officially announced to launch central bank digital currency (CBDC) in October this year.

The Bahamas Racing Ahead with the Sand Dollar
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The Bahamas Racing Ahead with the Sand Dollar

The Bahamas are rolling out their Sand Dollar digital currency across the island chain and look to be ahead of some of the larger countries around the world.

Canada's Federal Government Begins Consultations on Digital Currency
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Canada's Federal Government Begins Consultations on Digital Currency

The federal government of Canada announced in a budget address that it has started discussions on cryptocurrencies, stablecoins and central bank digital currencies.

Canada’s Central Bank Considers Launching a Digital Currency to Combat the “Direct Threat” of Cryptos
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Canada’s Central Bank Considers Launching a Digital Currency to Combat the “Direct Threat” of Cryptos

Canada’s Central Bank, the Bank of Canada, is considering launching a digital currency that would enable the collection of how Canadians spend their money.

First Blockchain National Currency Platform Ready for Central Banks’ CBDC Issuance
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First Blockchain National Currency Platform Ready for Central Banks’ CBDC Issuance

The blockchain national currency platform issued by blockchain company Apollo Fintech was finalized and completed on August 12.

IMF Chief Economist Says Crypto Won’t Threaten Dollar Dominance Although Global Reserves Decline
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IMF Chief Economist Says Crypto Won’t Threaten Dollar Dominance Although Global Reserves Decline

The Chief Economist of the International Monetary Fund (IMF), Gita Gopinath, expressed in an opinion piece in the Financial Times that digital currencies would not displace the US Dollar as the currency that dominates the global trade and finance.

Japan Will Include Central Bank Digital Currency in Honebuto Economic Plan
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Japan Will Include Central Bank Digital Currency in Honebuto Economic Plan

The Japanese Government has continued its acceleration towards a Central Bank Digital Currency (CBDC) and is set to include its consideration in its formal economic plan.

Bank Of England Accepts CBDC Wallet "Proof Of Concept" Applications
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Bank Of England Accepts CBDC Wallet "Proof Of Concept" Applications

The Bank of England (BOE) wants a "proof of concept" for a Central Bank Digital Currency wallet (CBDC). The wallet must trade value and solicit payments. The BOE wants a CBDC by 2030.

G20 Lays Regulatory Foundation to Accept Digital Payments by November Summit
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G20 Lays Regulatory Foundation to Accept Digital Payments by November Summit

G20 officials have announced that they will begin the preliminary regulatory groundwork for the group to accept digital payments.

Singapore Payment Services Act Now in Effect For Crypto Firms
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Singapore Payment Services Act Now in Effect For Crypto Firms

The Monetary Authority of Singapore now requires cryptocurrency providers and exchanges to be licensed under some of the same regulatory elements as traditional financial service providers.

$6.2 Million Worth of Digital Yuan is Officially Piloted in Beijing
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$6.2 Million Worth of Digital Yuan is Officially Piloted in Beijing

The Chinese digital renminbi is officially piloted in the capital of China-Beijing. The authority plans to issue a total of $6.2 million worth of digital currency to Beijing residents through a lottery, totaling 40 million RMB.

India tests offline functionality of digital rupee
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India tests offline functionality of digital rupee

The Reserve Bank of India is testing the offline functionality of its recently launched digital rupee, which has completed 800,000 transactions worth $134 million since its wholesale segment pilot launched on Nov. 1, 2022.

Bulgaria to Introduce Crypto Payment Options
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Bulgaria to Introduce Crypto Payment Options

The Bulgarian government is currently in discussion with industry stakeholders and the Bulgarian National Bank with respect to its crypto payment initiative.

China's Digital Yuan Has Topped Over $14 Billion in Transaction Volume
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China's Digital Yuan Has Topped Over $14 Billion in Transaction Volume

The Chinese Central Bank Digital Currency (CBDC) also known as the e-CNY has hit close to $14 billion (100.04 billion Yuan) from 360 million transactions as it gains widespread acceptance in country

The United Kingdom Tax Reform Council Launches Campaign Against Bank of England
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The United Kingdom Tax Reform Council Launches Campaign Against Bank of England

UK Tax Reform Council and Bitcoin community worry over Bank of England's CBDC intentions.

Swedish Central Bank Completes Second Phase Testing of E-Krona
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Swedish Central Bank Completes Second Phase Testing of E-Krona

The Riksbank, Sweden's central bank, said it completed the second phase of the e-krona test, known as the e-krona, ready to be integrated into the banking network and facilitate transactions.

Iran Completes Pre-Pilot Phase for Digital Rial
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Iran Completes Pre-Pilot Phase for Digital Rial

Iran's central bank has completed a pre-pilot phase for its digital rial, according to an official statement by the Monetary and Banking Research Institute. The CBDC will align with the rules governing the national currency, the Iranian rial, and be distributed among individuals and banks. Ten banks have applied to join the project, and all banks and credit institutions in Iran are expected to start offering electronic wallets for the digital currency.

Fed Governor Christopher Waller Says US CBDC Not Necessary for Dollar’s Supremacy
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Fed Governor Christopher Waller Says US CBDC Not Necessary for Dollar’s Supremacy

Waller said the Fed has not made decisions concerning CBDCs. He stated that his remarks are aimed at giving a free and open dialogue on the utility of such digital currencies.

ECB Report: Striking the Balance Between Allowing Privacy and Ensuring Compliance with CBDC
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ECB Report: Striking the Balance Between Allowing Privacy and Ensuring Compliance with CBDC

The European Central Bank has recently developed an “anonymity voucher” to safeguard potential central bank digital currency (CBDC) users’ privacy for low-value retail transactions, while ensuring that high-value transfers are subject to anti-money laundering (AML) approvals.

Hong Kong and Israel Central Banks Collaborate on Retail CBDC Prototype
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Hong Kong and Israel Central Banks Collaborate on Retail CBDC Prototype

The Hong Kong Monetary Authority (HKMA) and the Bank of Israel (BOI) have collaborated on a report titled "Project Sela – An accessible and secure retail CBDC ecosystem". The project aims to create a retail central bank digital currency framework that encourages competition and innovation in digital payments.

CBUAE Plans to Launch Central Bank Digital Currency
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CBUAE Plans to Launch Central Bank Digital Currency

The government plans a uniform, rapid card payment platform.

Texas lawmakers propose gold-backed state digital currency
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Texas lawmakers propose gold-backed state digital currency

Two Texas lawmakers have introduced bills proposing a state-based digital currency backed by gold, with each unit of the currency representing a fraction of a troy ounce of gold held in trust. The bills are set to take effect in September 2023, but have yet to be passed or presented for a vote. This move comes despite objections from several U.S. lawmakers who are against the introduction of a central bank digital currency (CBDC).

Trump Handed Digital Future to China by Going After Bitcoin, Bolton's Book Reveals
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Trump Handed Digital Future to China by Going After Bitcoin, Bolton's Book Reveals

President Trump’s opposition to Bitcoin and cryptocurrencies is well documented as is his determination to maintain the US Dollar's global status. According to a passage from ex-national security advisor John Bolton’s book—Trump’s administration has actually handed Bitcoin and Ethereum a huge advantage over other cryptocurrencies.

Italy and South Korea's Central Banks Forge a Path in CBDC Development
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Italy and South Korea's Central Banks Forge a Path in CBDC Development

The Bank of Italy and the Bank of Korea have signed an MOU to collaborate on the development of Digital Currencies (CBDCs), a significant development in the digital currency sector.

France Central Commission Proceeds CBDC-Backed Treasury Bond Trials
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France Central Commission Proceeds CBDC-Backed Treasury Bond Trials

The Central Bank of France commissioned a trial involving the settlement of treasury bonds by using Central Bank Digital Currencies (CBDCs).

Estonia's Central Bank Launches Research Project into CBDC
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Estonia's Central Bank Launches Research Project into CBDC

Estonia’s Central Bank also known as Eesti Pank has launched a multi-year research project into central bank digital currencies.

China and EU Trade Talks Included the Potential Cooperation of Central Bank Digital Currencies
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China and EU Trade Talks Included the Potential Cooperation of Central Bank Digital Currencies

The European Union and China recently had trade and economic discussions regarding topics including central bank digital currencies (CBDC) and supply chain.

China to be First Cashless Society with Digital Yuan Launch in 2022, SCMP Report
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China to be First Cashless Society with Digital Yuan Launch in 2022, SCMP Report

China is poised to become the world’s first cashless society should roll out its Digital Yuan DCEP before it hosts the 2022 Winter Olympics according to the SCMP

MAS Sees Potential in Retail-CBDC for the City-State
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MAS Sees Potential in Retail-CBDC for the City-State

Despite its plans to float Project Orchid, the technology infrastructure, and the technical competencies necessary to issue a digital Singapore dollar, the Monetary Authority of Singapore (MAS) is not in a hurry to follow the bandwagon.

Chess Grandmaster Garry Kasparov Supports Bitcoin as Tool for Human Rights and Financial Autonomy
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Chess Grandmaster Garry Kasparov Supports Bitcoin as Tool for Human Rights and Financial Autonomy

Chess Grandmaster and rising human rights advocate, Garry Kasparov, sees cryptocurrencies like Bitcoin and Ethereum as a way to fight tyranny and restore liberal democracies.

Bank of Thailand Tests its Central Bank Digital Currency with Large Businesses Before Official Debut
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Bank of Thailand Tests its Central Bank Digital Currency with Large Businesses Before Official Debut

The Bank of Thailand (BoT), Thai’s central bank, is already utilizing its central bank digital currency (CBDC) for financial transactions with various big businesses. This development ushers in the third development phase of the nation’s CBDC before a public debut.

China’s Central Bank Digital Currency DCEP to be Operational for Local Government Employees Starting in May
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China’s Central Bank Digital Currency DCEP to be Operational for Local Government Employees Starting in May

Local government employees in the city of Suzhou will be receiving China’s central bank digital currency, digital currency electronic payment (DCEP) in May, according to a local news outlet. China has been charging full speed with its digital currency development plans shortly after Facebook revealed its Libra stablecoin project.

World's First National Digital Currency to Be Built on Algorand
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World's First National Digital Currency to Be Built on Algorand

World’s First National Digital Currency to Be Built on Algorand

China Central Bank Releases Digital CNY Smart Contract Prepaid Fund Management Product
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China Central Bank Releases Digital CNY Smart Contract Prepaid Fund Management Product

In China, the Digital Currency Research Institute of the People's Bank of China has launched a digital renminbi smart contract prepaid fund management product - "Yuanguanjia".

Seven Key Takeaways You Need to Know About Central Bank Digital Currencies
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Seven Key Takeaways You Need to Know About Central Bank Digital Currencies

Why are Central Bank Digital Currencies (CBDCs) important? Do we really need them? What are the implications? How will they be designed? Here are seven key takeaways you need to know.

Hong Kong's Highest-Profile FinTech Consultant: Libra Puts CBDCs to the Top of the Central Banks' Agenda
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Hong Kong's Highest-Profile FinTech Consultant: Libra Puts CBDCs to the Top of the Central Banks' Agenda

Blockchain.News interviewed Arslanian at the Asian Financial Forum held in Hong Kong earlier this month, where he was invited to speak on the development of FinTech.

ECB Advisor Defends Amazon’s Role in Digital Euro Project
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ECB Advisor Defends Amazon’s Role in Digital Euro Project

The European Central Bank (ECB) is collaborating with five firms to test “user interfaces” for the central bank digital currency (CBDC).

Suzhou Next City in China to Test Digital Yuan DCEP in Red Envelope Event
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Suzhou Next City in China to Test Digital Yuan DCEP in Red Envelope Event

China’s central bank is scheduled to test its digital yuan dubbed the Digital Currency Electronic Payment (DCEP) in a second red packet lottery event in Suzhou on December 12.

The Bank of Russia Wants Strict Limits for Non-Professional Russian Crypto Investors
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The Bank of Russia Wants Strict Limits for Non-Professional Russian Crypto Investors

Russia has published a proposal that sets strict limits on the amounts of digital assets acquired by non-professionals investors in a year.

Federal Reserve Digital Dollar DLT Testing Underway But CBDC Monetary Policy Lags
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Federal Reserve Digital Dollar DLT Testing Underway But CBDC Monetary Policy Lags

Federal Reserve Board Governor Lael Brainaird announced that the United States Federal Reserve is currently experimenting with blockchain and DLT in pursuit of its central bank digital currency (CBDC) or digital dollar.

Can US Lawmakers Really Just Mint Two $1 Trillion Coins to Back a Digital Dollar COVID Stimulus with "No Additional Debt"?
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Can US Lawmakers Really Just Mint Two $1 Trillion Coins to Back a Digital Dollar COVID Stimulus with "No Additional Debt"?

As the economy continues to deteriorate in the ongoing COVID-19 pandemic climate, US Lawmakers are once again pitching the creation of a sovereign digital dollar to quickly distribute the proposed stimulus packages. The bill further proposed the new minting of two trillion dollar coins.

European Central Bank is Consulting the Public on CBDC
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European Central Bank is Consulting the Public on CBDC

The European Central Bank has launched a public consultation to seek public opinion on its proposed digital Euro or central bank digital currency (CBDC).

Federal Reserve Considers a FEDcoin in Wake of Rising Stablecoin and CBDC Development
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Federal Reserve Considers a FEDcoin in Wake of Rising Stablecoin and CBDC Development

Federal Reserve Governor, Lael Brainard said that the Fed is weighing the developments and policy issues in the digital payments sector and experimenting with central bank digital currencies (CBDC) in consideration of potentially issuing it own digital currency.

Central Bank Digital Currencies Unmasked by Dr. Alicia Garcia-Herrero at Natixis
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Central Bank Digital Currencies Unmasked by Dr. Alicia Garcia-Herrero at Natixis

Blockchain.News has been delighted to reach out to Garcia-Herrero for her to share some thoughts on central bank digital currencies around the world. Central bank digital currencies (CBDCs) have increasingly sparked interest in recent years. With the notion of China’s central bank, People’s Bank of China (PBoC) announcing its plan to issue its digital currency (DCEP) and Facebook’s Libra stablecoin emergence, the world has been paying more attention to CBDCs.

CBDC for Stimulus Payments Advocates Honorary Christopher Giancarlo
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CBDC for Stimulus Payments Advocates Honorary Christopher Giancarlo

During an open hearing by the House Committee On Financial services yesterday, the Honorable Christopher Giancarlo once again advocated for the use of a central bank digital currency (CBDC), effectively digital dollars, as a solution to directly distribute the COVID stimulus packages to citizens.

Canadian Central Bank Partners with MIT for CBDC Research
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Canadian Central Bank Partners with MIT for CBDC Research

Although the Bank of Canada still has no plans to issue a Central Bank Digital Currency, it has accelerated its research on such a project.

China’s CBDC Should Start Replacing Cash But Not Confined to Substitution, says Former Chinese Banker
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China’s CBDC Should Start Replacing Cash But Not Confined to Substitution, says Former Chinese Banker

Former Chinese banker, Wang Yongli suggested that a push for digital currencies to substitute all currencies is needed to support monetary operation reforms.

Japan to Launch Central Bank Digital Currency Pilot in April 2023
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Japan to Launch Central Bank Digital Currency Pilot in April 2023

Private enterprises will test "digital yen" and CBDC ecosystem modeling in the trial.

Massive Online Transition for Tax and Fee Business in China, Digital Yuan Payment in Pilot Use
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Massive Online Transition for Tax and Fee Business in China, Digital Yuan Payment in Pilot Use

Shen Xinguo, Director of the Taxpayer Services Division of the State Administration of Taxation, announced that 96% of tax matters and 99% of tax declarations in China can now be handled online, marking a significant move towards digitalization in the country's financial sector.

Hong Kong Politician Seeks DeFi-Based Stablecoin CBDC
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Hong Kong Politician Seeks DeFi-Based Stablecoin CBDC

Hong Kong authorities are currently considering issuing a CBDC as a government-backed stablecoin. Wu Jiezhuang, a Legislative Council member of the Hong Kong Special Administrative Region, thinks converting e-HKD into a stablecoin will mitigate Web3 virtual asset concerns.

Thai Delays Testing Its Retail CBDC Until Late 2022
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Thai Delays Testing Its Retail CBDC Until Late 2022

Thailand will be slow but prudent in testing its CBDC to ensure that it does not have problems with funder transfers and other payments.

ECB's Digital Euro Development: An In-Depth Look at the Rulebook's Progress
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ECB's Digital Euro Development: An In-Depth Look at the Rulebook's Progress

The European Central Bank's Rulebook Development Group is enhancing the digital euro framework, focusing on operational models, technical architecture, and participant rights for seamless integration into the financial system.

Indonesia's Ministry of Trade is reportedly aiming to roll out a national crypto exchange
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Indonesia's Ministry of Trade is reportedly aiming to roll out a national crypto exchange

Indonesian Trade Minister Zulkifli Hasan has set a June 2023 start date for its crypto exchange.

RBL Bank Partners with Accenture to Build A Digital Bank Infrastructure
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RBL Bank Partners with Accenture to Build A Digital Bank Infrastructure

RBL Bank announced that it will partner with Accenture, who envisions that it will enhance the bank’s information technology (IT) network and services.

Bahamas Ranks First as The Country with Most Advanced Retail CBDC Development
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Bahamas Ranks First as The Country with Most Advanced Retail CBDC Development

The Bahamas narrowly beats Cambodia because its CBDC is available to all citizens.

US Fed Aims To Publish Discussion Paper on CBDC This Summer
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US Fed Aims To Publish Discussion Paper on CBDC This Summer

The US Federal Reserve will issue a discussion paper about CBDC this summer.

India Reportedly Postpones to Test Digital Rubee in Q1 in 2023, Amid Banning Private Cryptos
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India Reportedly Postpones to Test Digital Rubee in Q1 in 2023, Amid Banning Private Cryptos

Reportedly, the Indian government has postponed the trial date of testing digital Rubee until Q1 of 2023, the digital form of central bank digital currency (CBDC), according to local media outlets.

HKMA Releases Whitepaper on Proposing the issue of CBDC: e-HKD
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HKMA Releases Whitepaper on Proposing the issue of CBDC: e-HKD

The Hong Kong Monetary Authority (HKMA) has published a Whitepaper to discuss the technical consideration of its proposed CBDC dubbed the e-HKD.

Bank of Lithuania Calls For Uniform Regulation for Digital Financial Innovation Across Europe
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Bank of Lithuania Calls For Uniform Regulation for Digital Financial Innovation Across Europe

Bank of Lithuania, Lietuvos Bankas, has proposed uniform regulations throughout the European Union in response to the European Commission’s consultations for the development of the digitalization of financial services in Europe.

China's CBDC Testing Advances along 19.25M Yuan Distribute to Residents
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China's CBDC Testing Advances along 19.25M Yuan Distribute to Residents

The Digital Yuan testing is extending to Shanghai as residents will be given free money worth 19.25 million yuan.

Digital Euro is Designed to "Protect Consumer Privacy"- says ECB Board Member
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Digital Euro is Designed to "Protect Consumer Privacy"- says ECB Board Member

ECB Board Member Fabio Panetta said Digital Euro will offer a good level of privacy to consumers.

Four Years Down the Line, Iran's Pilot National CBDC is Ready
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Four Years Down the Line, Iran's Pilot National CBDC is Ready

The Central Bank of Iran (CBI) is taking its favour for digital innovation to a new level with the possibility of introducing its Central Bank Digital Currency (CBDC) within a short time.

Regulated Blockchain Will Power Central Bank Digital Currencies
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Regulated Blockchain Will Power Central Bank Digital Currencies

So far, the story of blockchain has been one of new financial services built on decentralised technology. As the continuing prominence of Bitcoin demonstrates, these decentralised finance, or DeFi, applications have built up a following amongst a band of loyal supporters.

Stablecoin
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Stablecoin

What is stablecoin? In terms of what we measure the "stability". Understand stablecoin in different features. Central Bank Digital Currency (CBDC)

Singapore Consults China on Central Bank Digital Currency
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Singapore Consults China on Central Bank Digital Currency

Singapore is considering a partnership with China as it works on developing a Central Bank Digital Currency dubbed Project Ubin

ECB Plans to Lead CBDC Exploration to Unleash Global Power of the Euro
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ECB Plans to Lead CBDC Exploration to Unleash Global Power of the Euro

Fabio Panetta, a member of the Executive Board of the ECB, stated in his address to the European Parliament that the ECB intends to remain at the forefront of discussions concerning the nature of money in a digital world, including the exploration of the desirability and feasibility of establishing a central bank digital currency (CBDC).

Digital Dollars—A Two Tier CBDC Design to Maintain US Currency Dominance
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Digital Dollars—A Two Tier CBDC Design to Maintain US Currency Dominance

The Digital Dollar Project (DDP) is the focus of the Digital Dollar Foundation and advocates the need for a CBDC. In their recently released whitepaper, the DDP stipulates that it aims for the US dollar to maintain its global dominance but further warns that the work needs to begin immediately. The DPP also calls for public-private collaboration, including the use of a two-tier system for the spread and distribution of retail digital dollars.

New Zealand Eyeing the Possibility of Rolling Out a CBDC
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New Zealand Eyeing the Possibility of Rolling Out a CBDC

New Zealand is in the race of setting up a central bank digital currency (CBDC) because it sees it as a stepping stone towards attaining an efficient monetary policy tool.

Reserve Bank of Australia Will Explore Wholesale CBDC with ConsenSys Ethereum POC
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Reserve Bank of Australia Will Explore Wholesale CBDC with ConsenSys Ethereum POC

The Reserve Bank of Australia has partnered with leading Australian banks and ConsenSys Software to explore wholesale CBDCs and distributed ledger technology (DLT).

ECB Member Says Should not Treat Banks as “Endangered Species” in CBDC Plans
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ECB Member Says Should not Treat Banks as “Endangered Species” in CBDC Plans

ECB Governing Board member Jens Weidmann does not want banks to be pampered concerning CBDC development to fuel competition.

ECB to Meet the Growing Demand for Digital Payments with a CBDC Digital Euro
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ECB to Meet the Growing Demand for Digital Payments with a CBDC Digital Euro

President of the ECB Christine Lagarde broached the topic of CBDC issuance and why the bank was seriously considering the creation of a digital euro.

China's DCEP Testing Limited to Small Retail Transactions for Now
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China's DCEP Testing Limited to Small Retail Transactions for Now

The People’s Bank of China (PBOC) has affirmed that the testing of its CBDC project is concentrated only to small scale transactions for now.

Montenegrin Prime Minister Dritan Abazovic has announced a pilot digital currency project
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Montenegrin Prime Minister Dritan Abazovic has announced a pilot digital currency project

After meeting with Ripple at the World Economic Forum, Montenegrin Prime Minister Dritan Abazovic launched a prototype digital currency initiative.

The Bank of Tanzania to Introduce CBDC, Strengthening Domestic Payment System
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The Bank of Tanzania to Introduce CBDC, Strengthening Domestic Payment System

The Bank of Tanzania is actively introducing a CBDC to strengthen the domestic payment system.

Advancing CBDC: Bank of Canada In Search of Digital Currency Economist
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Advancing CBDC: Bank of Canada In Search of Digital Currency Economist

The Bank of Canada is in search of an economist with expertise in digital currencies and financial technologies to help advance its CBDC drive.

China to Award DCEP Worth $1.5 Million to Shenzhen Residents to Test Digital Yuan
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China to Award DCEP Worth $1.5 Million to Shenzhen Residents to Test Digital Yuan

China’s central bank, the People's Bank of China (PBOC), has teamed up with Shenzhen city to distribute DCEP worth 10 million yuan, approximately $1.5 million to residents.

Crypto Leaders Discuss Libra, China's CBDC and a Cashless Future at the Singapore Fintech Festival
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Crypto Leaders Discuss Libra, China's CBDC and a Cashless Future at the Singapore Fintech Festival

A noteworthy panel followed on the topic of “defining the future of digital currency,” joined by Christian Catalini, co-creator of Libra and Head Economist of Calibra, Mu Changchun, Director-General of the Digital Currency Institute of the People’s Bank of China, HE Serey Chea, from the National Bank of Cambodia and Umar Farooq, Head of Blockchain at J.P. Morgan Chase & Co.

Ripple to Acquire 40% Stake in Asia Cross-Border Payments Firm Tranglo
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Ripple to Acquire 40% Stake in Asia Cross-Border Payments Firm Tranglo

Ripple announced its plans to take a 40% stake in Asian cross-border payments company Tranglo.

Bank of Thailand to Start Retail Test for its Retail CBDC
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Bank of Thailand to Start Retail Test for its Retail CBDC

The Central Bank of Thailand also known as the Bank of Thailand (BOT) plans to begin a pilot study of Retail central bank digital currency (CBDC)

Governments Will Eliminate Bitcoin, Says Investor Jim Rogers
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Governments Will Eliminate Bitcoin, Says Investor Jim Rogers

Will decentralized cryptocurrencies like Bitcoin—that are beyond the influence of Sovereign Governments—be allowed to survive? Not according to American investor and financial commentator Jim Rogers.

Central Bank Executive Says Hong Kong Working On Investor Protection Measures
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Central Bank Executive Says Hong Kong Working On Investor Protection Measures

Central bank governors from around the world are currently in Thailand to discuss the role of central banks amid evolving financial technology. Eddie Yue, chief executive of the Hong Kong Monetary Authority discussed the rise of digital assets and central bank digital currencies (CBDC) and the risks associated with the new technology. Changyong Rhee, governor of the Bank of Korea was not so optimistic about the future of blockchain technology, especially in the monetary sector.

Jamaica on Track to Launch CBDC, says Jam-Dex
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Jamaica on Track to Launch CBDC, says Jam-Dex

The Jamaican Decentralized Exchange (Jam-DEX), the official name of the Jamaican CBDC is set to go live for domestic use later this month, according to Bank of Jamaica Governor Richard Byles.

Australian CBDC Pilot Test to Commence Next Year - RBA
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Australian CBDC Pilot Test to Commence Next Year - RBA

The Reserve Bank of Australia (RBA) has published a Whitepaper to give additional insights into its proposed Central Bank Digital Currency, dubbed the eAUD.

China Guangzhou Public Transport Launches Digital RMB Payment Function
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China Guangzhou Public Transport Launches Digital RMB Payment Function

China's Guangzhou became the first city to launch a pilot function of a digital RMB payment code to pay for bus rides.

Hong Kong HKMA Advances CBDC Development with Phase 2 of e-HKD Pilot
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Hong Kong HKMA Advances CBDC Development with Phase 2 of e-HKD Pilot

The HKMA has initiated Phase 2 of the e-HKD pilot program, focusing on the tokenization and programmability of digital currency.

South Korea Sets Up Panel to Accelerate CBDC Launch
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South Korea Sets Up Panel to Accelerate CBDC Launch

In a bid to keep up with global trends in the development of a Central Bank Digital Currency, South Korea launches a 6-man panel to review regulatory issues

Jamaica to Launch Central Bank Digital Currency in 2022
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Jamaica to Launch Central Bank Digital Currency in 2022

Jamaica’s Minister of Finance Nigel Clarke has announced that the country intends to launch its central bank digital currency (CBDC) in 2022.

China’s Central Bank’s DCEP is Trying to Make WeChat Pay and Alipay Redundant
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China’s Central Bank’s DCEP is Trying to Make WeChat Pay and Alipay Redundant

Mu Changchun, the Director-General of the Institute of Digital Currency of China’s central bank, People’s Bank of China spoke at one of the panels at the Singapore Fintech Festival held at the Singapore Expo on Nov. 12 regarding the future of digital currencies.

New York Federal Reserve Partners With MAS to Research on wCBDCs
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New York Federal Reserve Partners With MAS to Research on wCBDCs

The New York Fed and Singapore's MAS are collaborating on CBDC development

Turkey's Central Bank Finishes First CBDC Test With More In 2023.
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Turkey's Central Bank Finishes First CBDC Test With More In 2023.

The CBRT's Digital Turkish Lira has completed its first experiment. On Dec 29, the CBRT announced its first digital lira payments. In the first quarter of 2023, it will conduct restricted, closed-circuit pilot testing with technology stakeholders.

G20-Backed FSB Sets Out Roadmap for Stablecoins and CBDCs, Optimizing Cross-Border Payment System
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G20-Backed FSB Sets Out Roadmap for Stablecoins and CBDCs, Optimizing Cross-Border Payment System

The FSB, a G20-backed think tank, has cited the duo of government-issued CBDCs and stablecoins as key drivers in the pursuit of better cross-border payments.

Burnt Ether Tops $2B as Ethereum 2.0 Deposit Contract Continues to Grow
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Burnt Ether Tops $2B as Ethereum 2.0 Deposit Contract Continues to Grow

Burnt Ether stands at 608,567 ETH worth $2.089 billion since the London Hardfork or EIP 1559 upgrade went live on August 5.

Gazprombank suggests banks be given more time to adjust to digital
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Gazprombank suggests banks be given more time to adjust to digital

Gazprom, a Russian state-owned company, suggested allowing banks extra time to deploy the "digital ruble."

About 90 Percent of Countries Representing the Global Economy Exploring CBDCs, Report says
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About 90 Percent of Countries Representing the Global Economy Exploring CBDCs, Report says

A recent testimony by Julia Friedlander to Congress has revealed that more countries are exploring CBDCs, however, the US is lagging behind.

Six Leading Central Banks to Brainstorm the Issuance of Digital Currencies in Mid-April
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Six Leading Central Banks to Brainstorm the Issuance of Digital Currencies in Mid-April

The leaders of six major central banks are scheduled to meet in mid-April to conceptualize on creating their own digital currencies as they can be instrumental in substituting the digital yuan or Facebook’s Libra.

Is The US Ready for CBDC? Most Americans Opposed to Digital Dollar Adoption, Survey Reveals
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Is The US Ready for CBDC? Most Americans Opposed to Digital Dollar Adoption, Survey Reveals

Most American citizens appear to be against a digital dollar adoption within the US, preferring paper money to CBDC, according to a study.

The Reserve Bank of Australia Refuses to Join the CBDC Bandwagon
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The Reserve Bank of Australia Refuses to Join the CBDC Bandwagon

The Reserve Bank of Australia (RBA) has refused to join the bandwagon with respect to the development and issuance of a Central Bank Digital Currency (CBDC).

SWIFT Releases Blueprint for Global CBDC Operation
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SWIFT Releases Blueprint for Global CBDC Operation

The Society for Worldwide Interbank Financial Telecommunications has detailed how these individual CBDCs can co-exist in a global setting.

BIS and Central Bank Research Identifies Principles and Core Features For CBDC Issuance
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BIS and Central Bank Research Identifies Principles and Core Features For CBDC Issuance

The BIS along with seven central banks has released a report identifying the principles necessary for CBDCs to help central banks meet their public policy objectives.

National Bank of Georgia to Launch CBDC Pilot Program in 2022
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National Bank of Georgia to Launch CBDC Pilot Program in 2022

The National Bank of Georgia is set to launch a pilot program for its Central Bank Digital Currency (CBDC) dubbed the Digital Lari by 2022.

BIS Survey: 93% of Central Banks Engaged in CBDCs, 15 Retail and 9 Wholesale CBDCs Expected by 2030
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BIS Survey: 93% of Central Banks Engaged in CBDCs, 15 Retail and 9 Wholesale CBDCs Expected by 2030

The Bank for International Settlements (BIS) has released a survey revealing that 93% of central banks are now engaged in some form of Central Bank Digital Currency (CBDC) work, with retail CBDCs taking the lead over wholesale CBDCs.

CSRC Director Yao Qian: CBDCs Can Run on Ethereum and Diem
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CSRC Director Yao Qian: CBDCs Can Run on Ethereum and Diem

China Securities Regulatory Commission Director suggests that China can utilize the BaaS infrastructure of public blockchain networks for CBDCs establishment.

Cambodia Officially Launches Its State-Backed Digital Currency “Bakong”
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Cambodia Officially Launches Its State-Backed Digital Currency “Bakong”

The National Bank of Cambodia has announced an official launch of a national digital currency that would operate via smartphone apps.

Galaxy Digital CEO Mike Novogratz Says Launch of Digital Euro Will Drive Bitcoin Adoption
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Galaxy Digital CEO Mike Novogratz Says Launch of Digital Euro Will Drive Bitcoin Adoption

Galaxy Digital CEO Mike Novogratz argues that central banks like the ECB launching their own digital currency could drive Bitcoin adoption further.

Nearly 100 Countries are Developing their CBDC by July - IMF
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Nearly 100 Countries are Developing their CBDC by July - IMF

According to the International Monetary Fund (IMF) report, as of July 2022, nearly 100 central bank digital currencies (CBDCs) are in the research or development stage around the world.

Six Central Banks Form Working Group to Assess Central Bank Digital Currencies
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Six Central Banks Form Working Group to Assess Central Bank Digital Currencies

Six central banks around the world have come together to create a working group to share experiences on use cases on central bank digital currency (CBDC). With significant expertise in exploring digital currencies, these six central banks are the Bank of Canada, Bank of England, Bank of Japan, European Central bank, Sveriges Riksbank in Sweden, and the Swiss National Bank, and the Bank of International Settlements (BIS).

Sweden's Sveriges Riksbank Begins Testing Its Blockchain-Powered Central Bank Digital Currency
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Sweden's Sveriges Riksbank Begins Testing Its Blockchain-Powered Central Bank Digital Currency

Sweden’s Riksbank announced that it had started testing an e-krona, taking one step closer to the release of a central bank digital currency.

Swedish Central Bank Delays CBDC Plans Again
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Swedish Central Bank Delays CBDC Plans Again

The world’s oldest Central Bank, Sweden’s Riksbank, published results of its pilot project for its proposed central bank digital currency, the e-krona.

The Launch of CBDC May Destroy Bitcoin - Arthur Hayes
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The Launch of CBDC May Destroy Bitcoin - Arthur Hayes

BitMEX co-founder Arthur Hayes believes the advent of CBDCs may not be a good tale for Bitcoin

Local Officials Set Ambitious Targets for Digital Yuan Transactions
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Local Officials Set Ambitious Targets for Digital Yuan Transactions

In 2022, the e-CNY processed $50.5 billion in municipal transactions.

China to Launch Its Own Digital Currency Later This Year
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China to Launch Its Own Digital Currency Later This Year

In order to remain ahead in the global competition, China plans to launch its own digital currency known as Digital Currency Electronic Payment (DCEP). The digital currency will stimulate daily banking activities like deposits, payments, and withdrawals from the digital wallet. Crypto news website Coin Journal shows that the People’s Bank of China, China’s central bank has initiated the efforts to roll out its very own digital currency. It is an effort aimed at staying ahead among all the central banks worldwide as well as preserving financial sovereignty.

BIS Advances Technology in Finance: Quantum, AI, and Green Initiatives for 2024
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BIS Advances Technology in Finance: Quantum, AI, and Green Initiatives for 2024

The Bank for International Settlements announces six innovative projects for 2024, focusing on quantum security, AI, and green finance, to enhance global financial system resilience.

The RBI will pilot retail CBDC in December
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The RBI will pilot retail CBDC in December

The RBI is planning to test the "digital rupee" in retail. Within a month, the pilot will debut. Digital rupees will augment the present payment system, not replace it. Each bank testing CBDC will utilize 10,000 to 50,000 people.

Japan’s Financial Watchdog Believes Deregulating Crypto Does Not Necessarily Propel Technical Innovation
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Japan’s Financial Watchdog Believes Deregulating Crypto Does Not Necessarily Propel Technical Innovation

After assuming the helm of Japan’s Financial Services Agency mandated with overseeing the monetary sector in July, Ryozo Himino has voiced his reservation of promoting cryptocurrency trading.

CBDCs Require Balance between Data Access & User Privacy Protection, HashCash CEO Says
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CBDCs Require Balance between Data Access & User Privacy Protection, HashCash CEO Says

CBDC would need a delicate balancing act between data access and user privacy protection in terms of taming illegal activities, according to HashCash Consultants CEO Raj Chowdhury.

US States Challenge CBDC as Legal Tender
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US States Challenge CBDC as Legal Tender

Four U.S. states - Utah, South Carolina, South Dakota, and Tennessee - have filed bills to exclude Central Bank Digital Currencies (CBDCs) from their legal definitions of money, reflecting rising state-level resistance and concerns over privacy and federal overreach.

Fed Chair Powell Asserts Money Supply is for Central Banks not Private Sector
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Fed Chair Powell Asserts Money Supply is for Central Banks not Private Sector

Federal Reserve Chairman Jerome Powell asserted that the private sector has no place in money issuance and by extension the development of a Central Bank Digital Currency (CBDC).

America to Build its Digital Dollar Based on General Consensus
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America to Build its Digital Dollar Based on General Consensus

The US Treasury Secretary Janet Yellen said that the move by the American Federal Reserve to develop a Digital Dollar or Central Bank Digital Currency (CBDC) can only take place following a general consensus amongst all parties of interest.

The U.K. government is recruiting for a head to its central bank digital currency project
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The U.K. government is recruiting for a head to its central bank digital currency project

The U.K. is hiring a central bank digital currency (CBDC) chief to establish a digital pound. CBDCs promise financial inclusion and lower corporate and consumer expenses. A former Bank of England senior advisor opposed CBDCs. In 2021, 23 million Brits did not use cash, and fewer than 15% of payments are done using cash.

HashKey Group Partners with HKMA on Groundbreaking wCBDC Project
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HashKey Group Partners with HKMA on Groundbreaking wCBDC Project

HashKey Group collaborates with HKMA on a wCBDC initiative to revolutionize interbank settlements and tokenized asset management.

G7 Will Meet to Discuss CBDC and Digital Tax this Week Says Japan’s Finance Minister
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G7 Will Meet to Discuss CBDC and Digital Tax this Week Says Japan’s Finance Minister

The Group of Seven (G7) will meet on Feb.12 to discuss central bank digital currencies (CBDC), digital taxation and global debt according to Japan’s Finance Minister Taro Aso.

Alipay and WeChat Pay Could Be Casualties of China's Digital Yuan
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Alipay and WeChat Pay Could Be Casualties of China's Digital Yuan

Still strategizing to curb the dominance of Alipay and WeChat Pay, the People’s Bank of China will be using its DCEP system to break the cashless payment duopoly.

Japanese Lawmaker Urges Digital Yen Development to Curb China Dominance
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Japanese Lawmaker Urges Digital Yen Development to Curb China Dominance

Japanese Lawmaker, Kozo Yamamoto has called for the expedited development of Japan’s digital yen as the race to be the first nation with an operating central bank digital currency (CBDC) heats up.

Nigeria’s eNaira Records 200,000 Transactions Worth Over $10 Million Since October
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Nigeria’s eNaira Records 200,000 Transactions Worth Over $10 Million Since October

Based on eNaira’s success, Nigeria government is taking efforts to boost the functional capacity of the Central Bank Digital Currency (CBDC).

Blockchain Asia: Technological Solutions to Cultural Mistrust
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Blockchain Asia: Technological Solutions to Cultural Mistrust

Jochen Biedermann is also the Founder and CEO of Blockchain Asia which was established in 2016. In this second installment, we discuss Blockchain’s applications throughout Asia, clashes in culture and China’s mission to be the first country with an operating central bank digital currency (CBDC).

Reserve Bank Of New Zealand Wants to Preserve Cash, Monitors CBDC Developments
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Reserve Bank Of New Zealand Wants to Preserve Cash, Monitors CBDC Developments

The Reserve Bank of New Zealand—Te Pūtea Matua—is seeking to preserve the benefits of cash but is paying close attention to the future of money and CBDC development.

Bank of Russia to Debut Digital Ruble in April 2023
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Bank of Russia to Debut Digital Ruble in April 2023

The Bank of Russia is planning a consumer pilot for the digital ruble and a gold-backed cryptocurrency.

The Central Bank of Nigeria to Conduct its Central Bank Digital Currency Pilot on October 1
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The Central Bank of Nigeria to Conduct its Central Bank Digital Currency Pilot on October 1

The Central Bank of Nigeria (CBN) officially announced to pilot its central bank digital currency programme on the Hyperledger Fabric blockchain on October 1.

Road to a US CBDC? Ex-CFTC Chairman Released Written Remarks on Digital Dollar in Davos 2020
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Road to a US CBDC? Ex-CFTC Chairman Released Written Remarks on Digital Dollar in Davos 2020

Davos 2020 to host ex CFTC Chairman, J. Christopher Giancarlo, and his insights on the possibility of CBDC and its many advantages!

Kazakhstan's Digital Tenge: Triumph in Pilot, Gears for 2024 Enhancements
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Kazakhstan's Digital Tenge: Triumph in Pilot, Gears for 2024 Enhancements

Kazakhstan's successful pilot of digital tenge is set for significant business, regulatory, and technical improvements in 2024, bolstering its global CBDC position.

Joachim Nagel: Central Banks Need to Embrace Digital Currencies for Future Relevance
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Joachim Nagel: Central Banks Need to Embrace Digital Currencies for Future Relevance

Bundesbank President Joachim Nagel emphasizes the need for central banks to adopt digital currencies and integrate distributed ledger technology to ensure their future relevance.

Hong Kong’s Central Bank and Bank of Thailand Announce Results of Blockchain-Based CBDC Study
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Hong Kong’s Central Bank and Bank of Thailand Announce Results of Blockchain-Based CBDC Study

The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand published the results in a research report of the Project Inthanon-LionRock, by the two central banks on the application of central bank digital currencies (CBDCs) on cross-border payments. In May 2019, the two authorities signed a Memorandum of Understanding (MoU) on fintech collaboration, as Thailand is one of Hong Kong’s top 10 principal trading partners.

CBDCs Will Not Change the Role of Stablecoins, Says Tether CTO
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CBDCs Will Not Change the Role of Stablecoins, Says Tether CTO

The subject of CBDCs has garnered a lot of thoughts from experts in the cryptocurrency ecosystem; one of them is Tether CTO Paolo Ardoino.

Mastercard Launches Virtual Platform to Help Governments Test CBDCs
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Mastercard Launches Virtual Platform to Help Governments Test CBDCs

Payment giant Mastercard has unveiled a virtual platform that will enable central banks to assess and explore Central Bank Digital Currencies (CBDCs).

CBN is continuing to develop its eNaira
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CBN is continuing to develop its eNaira

R3, the CBN's possible technology partner, will help design a new system to give the CBN complete authority over the CBDC.

Bank of Lithuania Launches First Blockchain-Based Digital Collector's Coin As Test for CBDC
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Bank of Lithuania Launches First Blockchain-Based Digital Collector's Coin As Test for CBDC

The Bank of Lithuania has launched the first central bank-produced digital collectors coin dubbed “LBCOINS” as part of its trial of blockchain technology and testing in its development of central bank digital currencies.

Ripple's CBDC Team Reveals Real Estate Tokenization
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Ripple's CBDC Team Reveals Real Estate Tokenization

Antony Welfare, Ripple's CBDC adviser, recently participated in a fintech conference in Central and Eastern Europe (CEE), where he presented two groundbreaking use cases. One of these is the tokenization of real estate, a concept that is rapidly gaining momentum as a potential future for the real estate industry, as he claimed

Senate Hearing Views Digital Dollar CBDC as Critical to Maintaining Global Reserve Currency Status
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Senate Hearing Views Digital Dollar CBDC as Critical to Maintaining Global Reserve Currency Status

The United States government’s plan for its digital dollar or central bank digital currency (CBDC) may have just reached a new level of urgency, as the US hopes to maintain its most effective tool of power—global dependence on the Federal Reserve and the US dollar.

EY-Led Consortium Submits Bid To Help Develop South Korea's CBDC
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EY-Led Consortium Submits Bid To Help Develop South Korea's CBDC

A consortium led by Ernst & Young has made the first and only bid to construct the business model for the Bank of Korea’s Central Bank Digital Currency project.

Hong Kong Lists CBDC Development as Strategy Fintech 2025 Roadmap
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Hong Kong Lists CBDC Development as Strategy Fintech 2025 Roadmap

The Hong Kong Monetary Authority has enlisted its e-HKD development as part of its Fintech 2025 strategy.

HSBC CEO: No Plans for Launching Crypto Trading
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HSBC CEO: No Plans for Launching Crypto Trading

HSBC revealed that the bank has no plan to offer virtual currency as investments to their clients by starting cryptocurrency trading.

Canada, Netherlands, Ukraine Central Banks Say Blockchain Not Necessary for CBDC
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Canada, Netherlands, Ukraine Central Banks Say Blockchain Not Necessary for CBDC

In a conference hosted by National Bank of Ukraine, some central banks recently suggested that blockchain is unnecessary for digital fiat currency

European Central Bank President: Coronavirus Has Accelerated Digital Currency Adoption
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European Central Bank President: Coronavirus Has Accelerated Digital Currency Adoption

COVID-19 has led to an acceleration in digital payments adoption and technological innovation, as seen by the spending pattern of European citizens.

BIS and Global Central Banks to Explore Asset Tokenization in "Project Agora"
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BIS and Global Central Banks to Explore Asset Tokenization in "Project Agora"

The BIS collaborates with major central banks to study asset tokenization's potential to enhance the monetary system and cross-border efficiencies.

The Issuance of China's CBDC On The Horizon, According to Insiders
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The Issuance of China's CBDC On The Horizon, According to Insiders

The issuance of central bank digital currencies (CBDCs) has been gaining traction as various nations have shown interest. The People’s Bank of China (PBoC), China’s central bank, has finished the development of a CBDC’s basic function and relevant laws are being drafted to set the ball rolling for its circulation.

Reserve Bank of Australia Rolls Out CBDC Pilot Project
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Reserve Bank of Australia Rolls Out CBDC Pilot Project

The Reserve Bank of Australia (RBA) has launched a year-long trial to explore a central bank digital currency's (CBDC) business models and innovative use cases.

The End of Physical Cash is an Inevitable Reality and Not to be Feared Says Union Bank President
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The End of Physical Cash is an Inevitable Reality and Not to be Feared Says Union Bank President

As the world tries to come to terms with the coronavirus outbreak, recently Edwin Bautista chief executive and president of UnionBank of the Philippines revealed how digital services could support consumers as they increasingly self-isolate themselves or have to work remotely for an extended timeframe. The fintech leader projected the end of cash as the coronavirus crisis provokes banks to fast track the shift towards digital. But will the end of physical cash become a reality? The trend towards cashless remains inevitable as the current events seem to accelerate this process.

Four Countries to Conduct Cross Border CBDC Payment Trials
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Four Countries to Conduct Cross Border CBDC Payment Trials

The Bank for International Settlements (BIS) has joined forces with the central banks of South Africa, Malaysia, Singapore, and Australia to kick start a project dubbed Dunbar aimed at testing the use CBDCs in cross border payments.

The National Bank of Cambodia Looking to Launch New Centralized CBDC This Quarter
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The National Bank of Cambodia Looking to Launch New Centralized CBDC This Quarter

The National Bank of Cambodia digital currency, which is a central bank digital currency, called Bakong, was launched on a trial basis in Cambodia in July 2019.

The Bank of England and the United Kingdom's Treasury are working on a digital asset
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The Bank of England and the United Kingdom's Treasury are working on a digital asset

UK's finance minister said the Digital Pound's goal is to create a "trust, accessible, and easy-to-use" digital asset.

ECB Publishes Results of Its Digital Euro Public Consultation
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ECB Publishes Results of Its Digital Euro Public Consultation

The ECB has released the result of its Digital Euro public consultation. Among many things, respondents demand for privacy and offline usability.

South Korea's Stance on Virtual Currency Investment and ETFs in 2024
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South Korea's Stance on Virtual Currency Investment and ETFs in 2024

South Korea reaffirms its prohibition of local financial institutions from owning, buying, or investing in cryptocurrencies and businesses offering crypto, including a strict ban on cryptocurrency exchange-traded funds (ETFs).

Chinese Court Reaffirms Stablecoins are Not Legal Tender
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Chinese Court Reaffirms Stablecoins are Not Legal Tender

It is already about a year since China banned transactions involving digital currency transactions, and a Chaoyang Court in Beijing has further reiterated that cryptocurrencies are not legal tender.

Former Canadian Prime Minister Sees Bitcoin As A Potential Future Reserve Currency
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Former Canadian Prime Minister Sees Bitcoin As A Potential Future Reserve Currency

Stephen Harper, the former prime minister of Canada, has named Bitcoin as a possible reserve currency in the future.

McDonald's, Subway and Starbucks Among the First to Trial China's Digital Yuan
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McDonald's, Subway and Starbucks Among the First to Trial China's Digital Yuan

Mcdonalds has been named along with coffee giant Starbucks as one of the 19 restaurants that will be first to try out China’s Digital Yuan in the new district of Xiong’An.

Bank of England is Considering Developing a Central Bank Digital Currency Amid Surge in Crypto Popularity
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Bank of England is Considering Developing a Central Bank Digital Currency Amid Surge in Crypto Popularity

The Bank of England has confirmed it is considering the development of its central bank digital currency (CBDC). The confirmation was made by the governor of the bank Andrew Bailey in a webinar session with college students.

CBDC Activity Subsidizes Consumption During Lunar New Year
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CBDC Activity Subsidizes Consumption During Lunar New Year

After COVID-19 restrictions were eased, Chinese local governments are pushing the usage of the country's digital currency, the digital yuan, to boost e-CNY use and consumption.

Kazakhstan Launches Public Consultation for Its Proposed CBDC
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Kazakhstan Launches Public Consultation for Its Proposed CBDC

Kazakhstan is advancing its digital tenge project with a use case design and stakeholder consultation.

American Bankers See No Compelling Case for Digital Dollar
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American Bankers See No Compelling Case for Digital Dollar

The ABA said that it has not seen a compelling case for the pursuit of the Digital Dollars as any attempt to float the new form of money will undermine the role of banks and private financial institutions in the country.

Canada’s Central Bank Digital Currency Won't Include Zero-Knowledge-Proofs
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Canada’s Central Bank Digital Currency Won't Include Zero-Knowledge-Proofs

Bank of Canada researchers do not feel that the current state of zero-knowledge-proofs is mature enough to be integrated into their development plans for a Central Bank Digital Currency (CBDC).

Five Russian Banks Ready to Lead Russia's CBDC Pilot Test
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Five Russian Banks Ready to Lead Russia's CBDC Pilot Test

Five Russian Banks will participate in the pilot test for the Bank of Russia’s proposed Digital Rubble following the release of its public consultation report.

The IMF Releases a Report on Jordan Preparations for a Central Bank
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The IMF Releases a Report on Jordan Preparations for a Central Bank

The IMF published a technical analysis on Jordan's retail central bank digital currency.

Impending Central Bank Digital Currency: Data Shows Not All Central Banks Support the Move
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Impending Central Bank Digital Currency: Data Shows Not All Central Banks Support the Move

The paradox of the situation is that banks with the capacity to push the world into the digital currency era are actually not showing much interest towards adoption; with the reason for their reluctance remaining a question with no answer.

Next 2-3 Years to be a Turning Point for Bitcoin, BTC to follow Tesla's Footsteps - Deutsche Bank Analyst
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Next 2-3 Years to be a Turning Point for Bitcoin, BTC to follow Tesla's Footsteps - Deutsche Bank Analyst

According to Deutsche Bank analyst and Harvard economist Marion Laboure, the next two to three years should be a turning point for Bitcoin.

China's Central Bank Governor Says no Timeline for Digital Currency Launch
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China's Central Bank Governor Says no Timeline for Digital Currency Launch

The Governor of the People's Bank of China has declared that there is no timeline to the release of the country's digital Yuan, an innovation that has entered its test pilot phase.

Bank of Korea Initiates CBDC Pilot Plan on Samsung Galaxy Smartphones
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Bank of Korea Initiates CBDC Pilot Plan on Samsung Galaxy Smartphones

Samsung Electronics will participate in South Korea’s Central Bank Digital Currency pilot project. The electronics tech giant will help to determine whether CBDC transactions could be conducted on smartphones without the availability of an internet connection.

Spanish Lawmakers Receive Bitcoin in Cryptocurrency Education Campaign
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Spanish Lawmakers Receive Bitcoin in Cryptocurrency Education Campaign

All 350 Deputies of the Spanish Congress have received Bitcoin as part of an educational campaign aiming to teach legislators about the uses and functions of crypto.

China's Central Bank Says Digital Yuan Will Not Raise Inflation
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China's Central Bank Says Digital Yuan Will Not Raise Inflation

Bank of China claims that the introduction of digital yuan will not cause the occurrence of inflation.

Coinbase Crypto Exchange to Support CBDCs in the Future as Long as They Meet Listing Standards
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Coinbase Crypto Exchange to Support CBDCs in the Future as Long as They Meet Listing Standards

Brian Armstrong, Coinbase's CEO, has stated that the crypto exchange was open to the idea of supporting central bank digital currencies (CBDCs) on its network in the future.

Bank of Tanzania Preparing for the Launch of CBDC
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Bank of Tanzania Preparing for the Launch of CBDC

The Bank of Tanzania is preparing to start exploring a possible launch of a central bank digital currency (CBDC). The central bank termed the move inspired by Nigeria’s central bank launch of its national digital currency.

India to Test Viability of Digital Rupee to Cut Fees When Trading Securities
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India to Test Viability of Digital Rupee to Cut Fees When Trading Securities

The Reserve Bank of India is starting a whole pilot for its Digital Rupee project

The Central Bank of the Republic of Turkey Plans to Launch CBDC in 2023
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The Central Bank of the Republic of Turkey Plans to Launch CBDC in 2023

The Turkish government has submitted the President’s annual plan, which included discussions on the launch of CBDC. The administration plans to launch its country’s CBDC by next year.

Former US Head of Treasury Lawrence Summers Backs Cryptocurrency
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Former US Head of Treasury Lawrence Summers Backs Cryptocurrency

In an interview with CEO of the digital currency company Circle —Jeremy Allaire, Former US head of Treasury Lawrence Summers advocates for cryptocurrency’s benefits.

Bank of France Conducts CBDC Test to Settle Listed Securities
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Bank of France Conducts CBDC Test to Settle Listed Securities

The French central bank has conducted an experiment involving digital MNBC and the settlement of securities.

Mainstream Adoption of DeFi and DLT Is Coming, It Will Replace Banks, Says US Currency Comptroller
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Mainstream Adoption of DeFi and DLT Is Coming, It Will Replace Banks, Says US Currency Comptroller

The US acting Comptroller of the Currency disclosed that roles played by banks will soon change due to cryptocurrencies and decentralized finance (DeFi).

Mastercard CEO Says Crypto Has a Long Way to go Before Going Mainstream
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Mastercard CEO Says Crypto Has a Long Way to go Before Going Mainstream

Mastercard CEO Michael Miebach says crypto has some hurdles to cross before going mainstream

BIS Launches Project Icebreaker with Central Banks to Explore CBDC
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BIS Launches Project Icebreaker with Central Banks to Explore CBDC

The Bank for International Settlements (BIS) has rolled out Project Icebreaker with the central banks of Sweden, Norway, and Israel to see how CBDCs can be utilized for international remittance and retail payments.

Ripple says XRP Can Be Used as a Bridge Currency for CBDCs, Will This Push XRP Higher?
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Ripple says XRP Can Be Used as a Bridge Currency for CBDCs, Will This Push XRP Higher?

Ripple released a new whitepaper that depicted XRP's utility as a bridge currency for CBDCs. XRP has broken through the key level of $0.50. What should be expected of the cryptocurrency in the short term?

OKEx Allows Traders to Purchase Tether through Brazilian Reals via PIX
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OKEx Allows Traders to Purchase Tether through Brazilian Reals via PIX

OKEx exchange officially announced establishing a strategic partnership with CuboPay, a local payment processor in Brazil. Exchange users are now allowed to use Brazilian real through PIX in exchange for Tether purchases.

Binance CZ: We Have No Immediate Plans for a Chinese Yuan-Based Stablecoin
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Binance CZ: We Have No Immediate Plans for a Chinese Yuan-Based Stablecoin

Recent announcements have created waves in the blockchain industry. Binance has been making its way around the world, enabling better adoption and an overall understanding of crypto. With China’s President Xi Jinping urging its nation to use blockchain technology and its development, how is Binance leveraging on new collaborations around the world?

Philippines Central Bank Considering Issuing its own CBDC
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Philippines Central Bank Considering Issuing its own CBDC

The Central Bank of the Philippines has inaugurated a committee to understudy CBDCs based on technical feasibility and policy implications

UK Advancing Towards a Digital Pound: Exploring CBDC Feasibility
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UK Advancing Towards a Digital Pound: Exploring CBDC Feasibility

The UK's Bank of England (BoE) and HM Treasury are advancing into the second phase of exploring the feasibility of a digital pound, also known as "Britcoin." A final decision is yet to be made, with a focus on user privacy and coexistence with cash.

Bank of Canada Says CBDCs Have Inherent Risks in New Study
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Bank of Canada Says CBDCs Have Inherent Risks in New Study

A new report released by the Bank of Canada has revealed that the bank believes Central Bank Digital Currencies can pose security risks to users

Japan May Take Several Years To Issue a CBDC says Former BoJ Executive
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Japan May Take Several Years To Issue a CBDC says Former BoJ Executive

Hiromi Yamaoka, a former executive of the Bank of Japan believes the central bank will need several more years before it can issue its proposed CBDC.

Ripple GM Reveals that the Blockchain Firm Is Actively Seeking to Partner with Banks for CBDC
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Ripple GM Reveals that the Blockchain Firm Is Actively Seeking to Partner with Banks for CBDC

Amid the COVID-19 pandemic and the SEC lawsuit, Ripple continues to thrive through partnerships with financial institutions leveraging their payment services.

DTCC to Build Prototype Supporting US Digital Dollar in Clearing & Settlement Process
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DTCC to Build Prototype Supporting US Digital Dollar in Clearing & Settlement Process

The prototype aims to examine the ability of US clearing and settlement infrastructure to support the US central bank digital currency using a DLT platform.

Mastercard's CBDC Initiative: Ripple Joins as Key Partner in Digital Currency Evolution
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Mastercard's CBDC Initiative: Ripple Joins as Key Partner in Digital Currency Evolution

Mastercard launches a CBDC program with Ripple as a key partner, aiming to enhance digital currency interoperability and adoption globally.

RBI Releases Publication of CBDC to be Issued in India
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RBI Releases Publication of CBDC to be Issued in India

The FinTech department of the Reserved Bank of India (RBI) recently released concept notes on the issuance of its Central Bank Digital Currency (CBDC) in India.

Federal Reserve Conference Casts Doubt over Digital Dollar Project
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Federal Reserve Conference Casts Doubt over Digital Dollar Project

The Federal Reserve Conference report provides how the US central bank envisions a CBDC taking shape. However, the review pointed out that a comprehensive policy is still lacking for delivering CBDC.

China's Central Bank Publishes Rules for Blockchain-Based Financial Applications
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China's Central Bank Publishes Rules for Blockchain-Based Financial Applications

The People’s Bank of China (PBoC) has published a set of evaluation rules for blockchain-based finance applications. The published rules aim to provide regulatory oversight using three basic standards bordering on technical, performance, and security.

Digital Currency: Trust in Government or Elegy for Privacy?
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Digital Currency: Trust in Government or Elegy for Privacy?

Today, many countries are eagerly investing their resources to create a digital version of their currencies. Cryptocurrencies, once written off by the lawmakers are now inspiring the same authorities. What does Digital Currency mean to the governments, to the people and to the society?

Ted Cruz Introduces Bill to Block Fed CBDC
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Ted Cruz Introduces Bill to Block Fed CBDC

Republican Senator Ted Cruz has introduced a bill to prevent the Federal Reserve from launching a central bank digital currency (CBDC) that could be used for financial surveillance. This is his second attempt at blocking the Fed's CBDC initiative.

France’s CBDC Projects to Manage DeFi Liquidity, Settle Tokenized Assets
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France’s CBDC Projects to Manage DeFi Liquidity, Settle Tokenized Assets

The Bank of France is currently working on its second stage of experimentation in wholesale central bank digital currency (CBDC).

Hong Kong to Propose Statutory Licensing Regime for VASPs: CE John Lee
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Hong Kong to Propose Statutory Licensing Regime for VASPs: CE John Lee

Hong Kong leader John Lee delivered his first policy address Wednesday, indicating that the administration has introduced a bill to propose establishing a statutory licensing regime for virtual asset service providers.

People's Bank of China Seeks to Prohibit the Creation of Digital Tokens
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People's Bank of China Seeks to Prohibit the Creation of Digital Tokens

The People’s Bank of China (PBOC) is calling for public opinion or feedback in line with its plans to revise its extant banking laws

Russia Begins CBDC Settlement Mechanism While Sanctions Continue
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Russia Begins CBDC Settlement Mechanism While Sanctions Continue

A central bank digital currency will be used to establish a cross-border settlement mechanism by Russia's central bank (CBDC). The plans are anticipated in 2023's first quarter. By2024, the Bank of Russia planned to launch its digital currency.

BOE Governor: Bitcoin and Trending Cryptocurrencies May not be Viable in the Future but Stablecoins Are the Exception
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BOE Governor: Bitcoin and Trending Cryptocurrencies May not be Viable in the Future but Stablecoins Are the Exception

Speaking at the World Economic Forum, the Bank of England governor Andrew Bailey discussed how cryptocurrencies would fit in the current governance system.

eNaira Adoption Grows Amid Nigeria's Cash Shortages
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eNaira Adoption Grows Amid Nigeria's Cash Shortages

Nigeria's eNaira, a central bank digital currency (CBDC), is being adopted at an increasing rate as the country faces severe cash shortages due to demonetization. The value of eNaira transactions has increased by 63%, and the total number of CBDC wallets has grown more than 12 times compared to October 2022.

China's Central Bank Digital Currency (CBDC)
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China's Central Bank Digital Currency (CBDC)

China's Central Bank Digital Currency (CBDC) now supports smart contracts. Soochow Securities' mobile app allows e-CNY purchases. Android phones may now perform contactless digital yuan wallet payments.

At least 70% of Global Finance Leaders Believe CBDCs Will Spur Financial Inclusion - Ripple Study
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At least 70% of Global Finance Leaders Believe CBDCs Will Spur Financial Inclusion - Ripple Study

Central bank digital currencies (CBDCs) have triggered overwhelming consensus among global finance leaders, according to a survey by Ripple, a leader in enterprise crypto and blockchain solutions.

U.S. Senate Bill Seeks to Limit Federal Reserve's Role in CBDC Issuance
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U.S. Senate Bill Seeks to Limit Federal Reserve's Role in CBDC Issuance

A new Senate bill, dubbed the CBDC Anti-Surveillance State Act, proposes strict limitations on the Federal Reserve's involvement with CBDCs.

European Digital Currencies Soon to Become Legal Tenders, ECB Says
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European Digital Currencies Soon to Become Legal Tenders, ECB Says

Central Bank Digital Currencies may soon become legal tenders in their jurisdictions as planned by major central banks in Europe as officials are currently studying such initiatives.

Digital Rubble Prototype to be Introduced in Early 2022
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Digital Rubble Prototype to be Introduced in Early 2022

In line with the development of its Central Bank Digital Currency (CBDC) dubbed the Digital Rubble, the Central Bank of Russia is set to launch a prototype platform for the new form of money in early 2022.

9 in 10 Central Banks are Eyeing CBDCs, BIS Study Shows
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9 in 10 Central Banks are Eyeing CBDCs, BIS Study Shows

90% of apex banks have shown intentions of rolling out central bank digital currencies (CBDCs), according to a study by the Bank for International Settlements (BIS).

Japan’s Major Banks Join Consortium of Private Firms to Launch Yen-Based Digital Currency
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Japan’s Major Banks Join Consortium of Private Firms to Launch Yen-Based Digital Currency

The private sector in Japan has joined forces to examine the trial and launch of a CBDC as a way of streamlining large funds transfers and settlements among financial firms.

Bahamas’ Sand Dollar CBDC Begins Facial-Recognition Rollout to Authorize Mobile Payments
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Bahamas’ Sand Dollar CBDC Begins Facial-Recognition Rollout to Authorize Mobile Payments

Millions of Bahamas smartphone users have started using facial recognition technology to authenticate Sand Dollar CBDC payments made through smart devices.

Bahamas Looks to Deploy its CBDC The Sand Dollar Across Borders
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Bahamas Looks to Deploy its CBDC The Sand Dollar Across Borders

The Central Bank of the Bahamas (CBOB) has says it wants its digital currency dubbed the Sand Dollars integrated with other countries' currency.

Financial services reforms advance UK crypto ambitions.
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Financial services reforms advance UK crypto ambitions.

The U.K. Chancellor of the Exchequer, Jeremy Hunt, proposed many financial services industry changes to "promote development and competitiveness." The measures include consulting on a central bank digital currency (CBDC) and prolonging investment managers' crypto tax exemption.

Bank of England Reveals How Banks Can Adjust to Cryptocurrency Growth
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Bank of England Reveals How Banks Can Adjust to Cryptocurrency Growth

The Deputy Governor of the Bank of England Jon Cunliffe has said that it is not the bank's job to protect commercial banks from the impact of cryptocurrencies.

Ex-Chinese Central Banker Says Digital Yuan: Use Has Been Minimal
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Ex-Chinese Central Banker Says Digital Yuan: Use Has Been Minimal

In October, two years after introduction, China's digital yuan transactions reached $14 billion (100 billion yuan). 261 million people possessed e-CNY wallets, according to a January PBOC study. China UnionPay reported 903.6 million mobile payment users in 2021. Tsinghua University finance professor Xie Ping was PBOC research director.

Italian Banking Association Wants to Join in on the ECB Digital Euro Central Bank Digital Currency Project
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Italian Banking Association Wants to Join in on the ECB Digital Euro Central Bank Digital Currency Project

The Italian Banking Association, Associazione Bancaria Italiana (ABI) has decided to participate in projects and experimentations of a European central bank digital currency, recently known as the digital euro.

Central Banks Could Monopolize Commercial Banking Sector via CBDC, Says Federal Reserve
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Central Banks Could Monopolize Commercial Banking Sector via CBDC, Says Federal Reserve

A new working paper from the Federal Reserve Bank of Philadelphia indicates that the development of a central bank digital currency (CBDC) may create a fundamental shift in the way banks operate.

HKMA Seeks Public Consultation for e-HKD Development
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HKMA Seeks Public Consultation for e-HKD Development

In Hong Kong, the local financial regulator has issued a discussion paper to the public, asking for the public opinions about introducing domestic retail central bank digital currency.

The Bank of Israel to Accelerate Its CBDC Research for a Digital Shekel
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The Bank of Israel to Accelerate Its CBDC Research for a Digital Shekel

The Bank of Israel is accelerating its CBDC research.

The Bahamas Central Bank Digital Currency Will Be Rolled Out in October
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The Bahamas Central Bank Digital Currency Will Be Rolled Out in October

The Bahamas Central Bank has announced its CBDC, dubbed Sand Dollars, will be ready by next month for roll out.

Can Alipay and WeChat Pay Compete With China’s Fee-Free Digital Yuan?
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Can Alipay and WeChat Pay Compete With China’s Fee-Free Digital Yuan?

Will Alipay and WeChat Pay survive the People's Bank Of China's rollout of the digital yuan or DCEP?

Bank for International Settlements Reveals Findings on Central Bank Digital Currencies
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Bank for International Settlements Reveals Findings on Central Bank Digital Currencies

The Bank for International Settlements released its analysis report in which it evaluated central bank digital currencies globally.