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

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.

South Korea’s Central Bank Launches Central Bank Digital Currency Pilot Program in Case of Future Necessity
central bank

South Korea’s Central Bank Launches Central Bank Digital Currency Pilot Program in Case of Future Necessity

South Korea’s central bank recently announced that it has launched a pilot program assessing the issuance of a central bank digital currency (CBDC). The Bank of Korea has stated that there are no immediate plans to launch a CBDC, however, the pilot program will allow the central bank to be prepared in the future if the changing market conditions require its issuance.

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).

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.

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).

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.

China’s Central Bank Takes A Step Forward to Regulate Blockchain
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China’s Central Bank Takes A Step Forward to Regulate Blockchain

China’s central bank, the People’s Bank of China is set to create industry standards across the financial technologies sector, including blockchain.

Rwanda’s Central Bank is Planning to Issue Its Own Digital Currency
central bank

Rwanda’s Central Bank is Planning to Issue Its Own Digital Currency

Rwanda’s Central Bank, the National Bank of Rwanda is researching ways to issue its own digital currency.

Oman Central Bank Issues Warning Against Crypto Trading, Specifically Dagcoin
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Oman Central Bank Issues Warning Against Crypto Trading, Specifically Dagcoin

The Central Bank of Oman has warned citizens that cryptocurrencies come with a high risk and specifically highlighted the risks as they pertain to Dagcoin.

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.

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

Lebanon Considers a Central Bank Digital Currency for 2021
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Lebanon Considers a Central Bank Digital Currency for 2021

The Governor of The Central Bank of Lebanon Riad Salameh has revealed the possibility of the bank launching a digital currency by 2021.

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.

Facebook Faces New Hurdles as Brazil’s Central Bank Suspends New WhatsApp Mobile Payment Service
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Facebook Faces New Hurdles as Brazil’s Central Bank Suspends New WhatsApp Mobile Payment Service

Brazil’s central bank has suspended WhatsApp’s payments feature in the country. The newly-launched system allows users of Facebook Inc’s WhatsApp instant messaging service to send money via chat.

Russia's Apex Bank Grants DFA License to Atomyze, the Nation's First
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Russia's Apex Bank Grants DFA License to Atomyze, the Nation's First

The Central Bank of Russia (CBR) has granted the Digital Financial Assets (DFA) services license to Atomyze LLC, the first startup in the country to become an asset manager.

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.

Is Cryptocurrency the Answer? Egypt’s Central Bank Limits Daily Cash Withdrawals Amid Coronavirus Crisis
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Is Cryptocurrency the Answer? Egypt’s Central Bank Limits Daily Cash Withdrawals Amid Coronavirus Crisis

Egypt is facing a severe cash crunch as the country is feeling the economic pressure of the coronavirus outbreak. The central bank of Egypt has instructed local banks to begin restricting daily withdrawals and has instructed citizens not to withdraw so much money.

Central Bank of Turkey to Ban Use of Cryptocurrencies to Purchase Goods amid Bitcoin Boom
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Central Bank of Turkey to Ban Use of Cryptocurrencies to Purchase Goods amid Bitcoin Boom

Although many retail and institutional investors alike have been gripped by Bitcoin fever lately, as the cryptocurrency has hit a new record-high, not all banking institutions are convinced by the digital asset’s benefits.

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.

Elrond Gets the Greenlight from Romania Central Bank In-Principle for Acquiring Payments Firm Twispay
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Elrond Gets the Greenlight from Romania Central Bank In-Principle for Acquiring Payments Firm Twispay

The acquisition is set to enable Elrond to operate e-money services across several countries in the European Union.

COVID-19 Relief Spurs Federal Reserve Towards Digital Payments with FEDNow
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COVID-19 Relief Spurs Federal Reserve Towards Digital Payments with FEDNow

The Federal Reserve is accelerating towards digital payments technology as the COVID-19 pandemic has highlighted the need to provide faster methods of relief. The United States central bank has announced the development of its own platform—FedNow.

Fed Chair Powell Says Central Bank Will Engage with US Lawmakers On Digital Dollar
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Fed Chair Powell Says Central Bank Will Engage with US Lawmakers On Digital Dollar

Federal Reserve Chair Jerome Powell says it will be up to United States lawmakers whether or not to bring a digital dollar to the market.

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.

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

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.

Chinese Central Bank Approves the City of Chengdu for its FinTech Innovation Pilot
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Chinese Central Bank Approves the City of Chengdu for its FinTech Innovation Pilot

The Chinese central bank, People’s Bank of China has recently approved the city of Chengdu to carry out fintech innovation supervision pilots.

Bank of Japan will test digital yen with three megabanks
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Bank of Japan will test digital yen with three megabanks

Bank of Japan is working with three megabanks and regional banks to issue CBDCs. The pilot will test the issue of Japan's digital yen in 2023. 2026 ruling on digital currency.

Central Banks to Cross-Examine Libra’s Founders in Switzerland
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Central Banks to Cross-Examine Libra’s Founders in Switzerland

The European Central Bank (ECB) officials and 25 global central banks will be meeting with Libra’s founders to assess the project.

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.

Russian Tech and Political Oligarchs Opposes Blanket Crypto Ban
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Russian Tech and Political Oligarchs Opposes Blanket Crypto Ban

Tech and political oligarchs in Russia are expressing their full displeasure over the proposed blanket ban on crypto.

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 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.

Mastercard Unveils Interoperable CBDC in Australia
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Mastercard Unveils Interoperable CBDC in Australia

Mastercard, in association with the RBA and DFCRC, has demonstrated a groundbreaking interoperable CBDC solution to enhance Web3 commerce in Australia and beyond. The live demonstration showcased a pilot CBDC holder purchasing an NFT on Ethereum, utilizing Mastercard’s Multi Token Network, emphasizing the potential of blockchain interoperability in fostering secure and efficient digital commerce.

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

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.

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.

Fed Chairman Powell Says Central Bank Digital Currency Would Need to Coexist with Traditional Cash
central bank

Fed Chairman Powell Says Central Bank Digital Currency Would Need to Coexist with Traditional Cash

While speaking at a virtual payments conference hosted by the Basel Committee on banking supervision, Federal Reserve Chairman Jerome Powell said that central bank digital currencies would need to be complementary to physical cash.

Accenture Partners with R3 and SAP to Improve Settlement Systems by Using Blockchain
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Accenture Partners with R3 and SAP to Improve Settlement Systems by Using Blockchain

Consultancy firm Accenture has partnered with blockchain technology firm R3 and multinational software firm SAP to produce a prototype that uses distributed ledger technology to allow real-time gross settlements.

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.

China’s Central Bank Reveals First Cohort of its FinTech Regulatory Sandbox Pilot
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China’s Central Bank Reveals First Cohort of its FinTech Regulatory Sandbox Pilot

The Chinese central bank’s Shanghai headquarters has recently revealed the Shanghai FinTech Innovation regulatory sandbox application list. The People’s Bank of China’s (PBoC) Shanghai branch is currently soliciting opinions from the public on eight applications to be included in the FinTech innovation supervision pilot.

Russia’s Largest Bank Sberbank Buys 5,000 Blockchain ATMs Despite Authorities' Plan to Ban Crypto
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Russia’s Largest Bank Sberbank Buys 5,000 Blockchain ATMs Despite Authorities' Plan to Ban Crypto

Sberbank, Russia’s largest bank, is purchasing more contactless ATMs that are powered by blockchain. The banking giant is making such a move despite an upcoming bill that aims to penalize individuals and firms that use and trade cryptocurrencies in financial transactions. Sberbank’s ATMs have nothing to do with cryptocurrencies as they do not act as BTMs (Bitcoin ATMs). The banking institution just intends to cut the need for physical contact associated with the use of bank debit/credit cards amid the coronavirus pandemic. Throughout the COVID-19 epidemic, Sberbank has been preferring to cut down the use of plastic cards because of health concerns.

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.

Philippines Central Bank to Suspend Issuing Licenses to New Virtual Asset Service Firms
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Philippines Central Bank to Suspend Issuing Licenses to New Virtual Asset Service Firms

The central bank said it will stop processing licenses for new virtual asset services providers (VASP) for three years.

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.

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.

The Fed Rejects Custodia Bank's Membership Application
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The Fed Rejects Custodia Bank's Membership Application

The Fed rejected cryptocurrency-focused Custodia Bank membership again, citing "sound banking operations."

Mastercard Tapped to Issue Prepaid Cards Linked to Bahamas’ Central Bank Digital Currency
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Mastercard Tapped to Issue Prepaid Cards Linked to Bahamas’ Central Bank Digital Currency

Mastercard has partnered with the Central Bank of The Bahamas and Island Pay to issue prepaid cards that would allow people of Bahamas to instantly convert the Bahamas’ CBDC to cash during purchases.

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

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.”

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.

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.

China's Central Bank and Watchdogs Meet with Jack Ma and Ant Group Execs following Regulation Criticism
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China's Central Bank and Watchdogs Meet with Jack Ma and Ant Group Execs following Regulation Criticism

Ant Group founder Jack Ma and the firm’s top executives met with PBoC and three financial regulators as China published new draft rules for online micro-lending.

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.

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).

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.

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.

Federal Reserve Holds 0% Interest Rates until 2023, Targets Over 2% Inflation—BTC Price Breaks $11,000
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Federal Reserve Holds 0% Interest Rates until 2023, Targets Over 2% Inflation—BTC Price Breaks $11,000

Bitcoin price spikes as Federal Reserve officials of FOMC said they will hold US interest rates close to zero and will continue to push inflation above 2% by 2023.

Slow to Incorporate Crypto Regulations Could Fuel Arbitrage Risk: French Central Banker
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Slow to Incorporate Crypto Regulations Could Fuel Arbitrage Risk: French Central Banker

Francois Villeroy de Galhau, the governor of the French Central Bank, has warned of the risks of arbitrage that may be fueled by uneven crypto regulations on the global scale.

Financial Stability Board Finalizes Global Crypto Asset Regulatory Framework
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Financial Stability Board Finalizes Global Crypto Asset Regulatory Framework

FSB finalizes a global regulatory framework for crypto assets, aiming for consistent regulation. The framework includes high-level recommendations for crypto-asset activities and stablecoins.

Ant Group's IPO Delay Bigger Concern for Asia Tech than US Election
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Ant Group's IPO Delay Bigger Concern for Asia Tech than US Election

Could the suspension of Ant Group’s $34.5 billion IPO have a greater impact on Asia’s FinTech ecosystem than the United States election?

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.

Christine Lagarde Announced EUR 750 Billion Bond Buyback, Bitcoin Surged 10%
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Christine Lagarde Announced EUR 750 Billion Bond Buyback, Bitcoin Surged 10%

With the launch of ECB's €750 Billion bond buyback, Bitcoin, in the last 24 hours witnessed a steep increase in price clocking at 16% growth.

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.

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.

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?

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).

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.

BIS has long taken a cautious approach
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BIS has long taken a cautious approach

Agustin Carstens mocks crypto and Bitcoin. Tech doesn't work for money, he told Bloomberg.

Kraken Acquires Registration for VASP in the Netherlands
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Kraken Acquires Registration for VASP in the Netherlands

Kraken secures a VASP registration from the Dutch Central Bank, marking a significant step in its European expansion and commitment to regulatory compliance. This strategic move enhances Kraken's offerings in the Netherlands and positions it for further growth in Europe.

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.

ISO 20022—Central Banks Strike Back Against Bitcoin and DeFi Payments But XRP Price Will Surge
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ISO 20022—Central Banks Strike Back Against Bitcoin and DeFi Payments But XRP Price Will Surge

Central Banks are planning their own payments revolution which could eliminate most cryptos from the cross-border payments conversation - all except Ripple (XRP).

Central Bank of Russia Intends to Ban Crypto Mining and Activities
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Central Bank of Russia Intends to Ban Crypto Mining and Activities

The Central Bank of Russia is going on the offensive in relation to the digital currency ecosystem in the country as the apex bank is calling for a blanket ban on crypto-related activities.

Three Major Central Banks Play a Pivotal Role in Bitcoin Adoption
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Three Major Central Banks Play a Pivotal Role in Bitcoin Adoption

Market analyst Holger Zschaepitz believes that the big three central banks, namely the Federal Reserve (Fed), the Bank of Japan (BoJ), and the European Central Bank (ECB), have been instrumental in Bitcoin adoption.

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.

India's Central Bank Slammed with a Two Week Crypto Ban Ultimatum
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India's Central Bank Slammed with a Two Week Crypto Ban Ultimatum

India's central bank has been slammed by the nation's supreme court about the stance it took in banning cryptocurrency business. It was given two weeks to give a concrete response to justify its actions.

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.

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.   

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)

Pakistani Judge Challenges Federal Authorities Over Cryptocurrency Ban
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Pakistani Judge Challenges Federal Authorities Over Cryptocurrency Ban

Justice Muhammad Iqbal Kalhoro of the Sindh High Court (SHC) has challenged the State Bank of Pakistan's ban on cryptocurrencies in 2018.

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.

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.

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.

Bitcoin Will Be the Best Performing Asset in Two Years by a Big Margin, says Wall Street Veteran
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Bitcoin Will Be the Best Performing Asset in Two Years by a Big Margin, says Wall Street Veteran

Wall Street veteran and CEO of Real Vision believes that Bitcoin will be the best performing asset in the next two years. Although Bitcoin’s price has struggled to stay above $12,000 twice this month, he thinks that the world’s first cryptocurrency could rally to $100,000 soon, even mentioning the $1 million threshold.

The Russia-Ukraine War Might Accelerate CBDC Issuance, Former BOJ Official Says
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The Russia-Ukraine War Might Accelerate CBDC Issuance, Former BOJ Official Says

The sanctions slapped on Russia based on its invasion of Ukraine might prompt more nations to adopt CBDCs as a shield against the U.S. dollar’s supremacy in the global financial system.

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.

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).

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.

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.

Central Bank of Nigeria Bans Cryptocurrency Transactions, Says Crypto Breeds Illegal Activities
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Central Bank of Nigeria Bans Cryptocurrency Transactions, Says Crypto Breeds Illegal Activities

The Central Bank of Nigeria (CBN) has once again doubled down on its efforts to ban cryptocurrency transactions stating they are a breeding ground for illegal activities.

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.

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.

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.

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).

Federal Reserve “Flexible” Inflation Monetary Policy Could Boost Bitcoin Price as Investors Stock Up on BTC Safe Haven
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Federal Reserve “Flexible” Inflation Monetary Policy Could Boost Bitcoin Price as Investors Stock Up on BTC Safe Haven

Federal Reserve Chair Jerome Powell has announced new measures to control inflation, in a speech that could have long-term implications for the Bitcoin price and cryptocurrency.

CBN Approves Africa Stablecoin Consortium's cNGN for Regulatory Sandbox Pilot
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CBN Approves Africa Stablecoin Consortium's cNGN for Regulatory Sandbox Pilot

CBN approves ASC's cNGN stablecoin, a regulated digital currency pegged to the Naira, launching on Feb 27, 2024.

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.

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.

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.

Federal Reserve FOMC Meeting Inflation Targets Might See Bitcoin Price Retest $10,400 Resistance
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Federal Reserve FOMC Meeting Inflation Targets Might See Bitcoin Price Retest $10,400 Resistance

Bitcoin traders await the Federal Reserve’s upcoming policy meeting on Wednesday to hear how the United States central bank will enact its inflation policy.

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.

Italian Banking Association Chose Decentralized Blockchain Route
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Italian Banking Association Chose Decentralized Blockchain Route

The Italian Banking Association, Associazione Bancaria Italiana (ABI), chose to leverage the blockchain-based system Spunta, as they could not identify an appropriate single actor to run a centralized system.

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.

Ghana Confirms Its Interest in Piloting Central Bank Digital Currency
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Ghana Confirms Its Interest in Piloting Central Bank Digital Currency

Ghana has confirmed that it is on the hunt for a Central Bank Digital Currency (CBDC). The Bank of Ghana’s deputy governor, Dr. Maxwell Opoku-Afari, recently revealed that the country’s central bank remains committed to piloting a national digital currency. He made such remarks during a virtual stakeholder workshop on payment systems and services as reported by GhanaWeb local news outlet.

Russian Banking Giant Sberbank and S7 Airlines to Streamline Air Ticket Purchase with Virtual Tokens
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Russian Banking Giant Sberbank and S7 Airlines to Streamline Air Ticket Purchase with Virtual Tokens

Sberbank, Russia’s biggest bank, and S7 Airlines are set to revamp the sale of air tickets with virtual tokens, smart contracts, and a blockchain platform.

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.

UK lacks expertise for central bank digital currency
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UK lacks expertise for central bank digital currency

UK is unlikely to issue a central bank digital currency (CBDC) as the Bank of England lacks the necessary technical skills, according to Jon Cunliffe, the deputy governor. The BoE plans to partner with the private sector to test a digital pound in a simulated environment, with the aim of gaining the required expertise to develop a working prototype.

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.

Federal Reserve Bank Sees Nationwide Outage Days After Treasury Sec Says Bitcoin is "Extremely Inefficient"
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Federal Reserve Bank Sees Nationwide Outage Days After Treasury Sec Says Bitcoin is "Extremely Inefficient"

The Federal Reserve Bank suffered a massive outage on its system, lending credence to the superiority of Bitcoin as a decentralized network.

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.

Bitcoin and Bad Guys
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Bitcoin and Bad Guys

With Bitcoin a growing number of people have been choosing to opt-out of the traditional financial system, and others have even chosen to use the cryptocurrency to circumvent regulation altogether, leading to its unfortunate connection with illegal activity and shady characters.

SARB to Introduce Crypto Regulation
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SARB to Introduce Crypto Regulation

South Africa has changed their mind in terms of crypto regulation. The regulator intends to introduce a legal framework to govern the use of cryptocurrencies in the country.

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.

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.

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.

Honduras Imposes Crypto Trading Ban Amid Fraud and Laundering Concerns
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Honduras Imposes Crypto Trading Ban Amid Fraud and Laundering Concerns

Honduras' CNBS regulator bans cryptocurrency transactions within financial institutions due to fraud, money laundering, and regulatory inability to regulate multi-jurisdictional digital platforms amid global debate.

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.

Riksbank's Final Report on e-Krona Explores Offline Payment Solutions
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Riksbank's Final Report on e-Krona Explores Offline Payment Solutions

Sweden's Riksbank concludes its e-Krona pilot, highlighting the development of offline payment technologies like "shadow wallets" and payment cards.

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.

Cuba's Central Bank Moves to Legalize Use of Cryptocurrencies
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Cuba's Central Bank Moves to Legalize Use of Cryptocurrencies

The Central Bank of Cuba has recently announced that it will legalize and regulate cryptocurrencies. Cuba has been rising interest in cryptocurrencies like Bitcoin partly under toughened American embargo rules on the nation.

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.

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.

G20 To Establish Standards For Global Crypto Regulatory Framework
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G20 To Establish Standards For Global Crypto Regulatory Framework

The Financial Stability Board, IMF, and BIS will propose worldwide crypto regulations.

European Central Bank Hikes Interest Rates in Surprise Move, Bitcoin Remains Steady
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European Central Bank Hikes Interest Rates in Surprise Move, Bitcoin Remains Steady

The European Central Bank (ECB) on Thursday increased its benchmark rate from -0.5% to 0%. Crypto market remains steady, Bitcoin stands firm above $23K level during the Asia trading section.

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.

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.

Billionaire Chris Kirubi Warns Followers of Bitcoin Scammers Impersonating the Kenyan Tycoon
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Billionaire Chris Kirubi Warns Followers of Bitcoin Scammers Impersonating the Kenyan Tycoon

Dr. Chris Kirubi continues fighting against Bitcoin scams using his name as an endorsement.

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.

US Stocks, Oil, and Bitcoin Price Plunge, Hinting Second Wave of Coronavirus Cases
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US Stocks, Oil, and Bitcoin Price Plunge, Hinting Second Wave of Coronavirus Cases

Stocks, oil, and Bitcoin price have been plunging, as the market has been concerned about a possible second wave of coronavirus cases as lockdowns have been easing in certain states in the US.

South Africa's Monetary Authority Ask Banks to Work with Crypto Exchanges
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South Africa's Monetary Authority Ask Banks to Work with Crypto Exchanges

South Africa’s Central Bank has released new guidelines stating that banks in the country may act as a channel for funds tied to crypto asset service providers.

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.

Sudan’s Central Bank Warns Citizens against Crypto
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Sudan’s Central Bank Warns Citizens against Crypto

The Central Bank has cautioned citizens against investing in crypto, which now has gained much popularity among investors across the globe.

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.

Bitcoin Price as Likely as Gold to Rally Higher, Investors Await ECB Policy Meeting Outcome
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Bitcoin Price as Likely as Gold to Rally Higher, Investors Await ECB Policy Meeting Outcome

Bitcoin is now more closely correlated to safe haven asset gold than ever, which enables the world’s largest cryptocurrency to be able to combat risk aversion.

Coinbase Secures an E-Money License From the Central Bank of Ireland
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Coinbase Secures an E-Money License From the Central Bank of Ireland

The US-based cryptocurrency exchange, Coinbase, has just been granted an e-money license in Ireland by the Central Bank of Ireland as it continues its expansion into Europe.

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.

Bank of Thailand Completes Digital Bond Issuance With Blockchain
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Bank of Thailand Completes Digital Bond Issuance With Blockchain

Thailand’s apex bank, the Bank of Thailand has leveraged the power of blockchain technology to launch a platform for government bond savings issuance

Custodia Bank's Application to Join Federal Reserve Rejected
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Custodia Bank's Application to Join Federal Reserve Rejected

Custodia, a digital asset bank, was denied membership in the Federal Reserve System.

Russian Central Bank Bars Mutual Funds from Investing in Cryptocurrencies
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Russian Central Bank Bars Mutual Funds from Investing in Cryptocurrencies

Under the new ban, Russia’s mutual fund companies must not invest in crypto assets.

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.

Russian Banks Seeks Help from China's UnionPay amid Crackdown from Mastercard & Visa
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Russian Banks Seeks Help from China's UnionPay amid Crackdown from Mastercard & Visa

In a bid to mitigate the strain on the users of these payment service providers, the Russian Central Bank said some of its indigenous financial institutions are looking at integrating UnionPay.

Danish FSA Orders Saxo Bank to Divest Crypto Holdings, Indicating Tightening Regulation
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Danish FSA Orders Saxo Bank to Divest Crypto Holdings, Indicating Tightening Regulation

The Danish Financial Supervisory Authority (Finanstilsynet) on July 4, 2023, issued a directive to Saxo Bank, instructing the financial institution to divest its holdings in cryptoassets. This move is based on the current legal framework, which prohibits banks from trading cryptoassets for their own account.

China’s Central Bank Official Urges the Acceleration of Digitization of the Chinese Economy with Blockchain
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China’s Central Bank Official Urges the Acceleration of Digitization of the Chinese Economy with Blockchain

China’s central bank, the People’s Bank of China (PBoC) Financial Technology Committee held its first meeting of the year this week, after months of delay due to the coronavirus pandemic. Fan Yifei, the PBoC’s deputy governor echoed President Xi Jinping’s call for the acceleration of the country’s blockchain development adoption. The president pointed out that it is necessary to strengthen fundamental research of blockchain technology and enhance innovation, enabling China to take a leading position in the blockchain field. The bank’s deputy governor met with the central bank’s officials as well as the heads of their affiliated financial institutions. Fan emphasized the importance of blockchain and financial technology (FinTech) industries and wanted to ensure China’s adoption plan would be laid out and implemented by 2021 to be in line with the deadline they have set out.

Customers Trust in Banks More than in Crypto, France Central Bank Governor Says
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Customers Trust in Banks More than in Crypto, France Central Bank Governor Says

Bank of France Governor Francois Villeroy de Galhau has expressed his view that the current extreme volatility facing the crypto market has made consumers lose trust in cryptocurrencies.

Understanding the Profound Impact of Stablecoins on Traditional Finance
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Understanding the Profound Impact of Stablecoins on Traditional Finance

Stablecoin is a compromise on absolute money issuance power and the adoption of disruptive blockchain technology. Stablecoin will have a profound impact on the infrastructure of future financial systems.

SARB governor: CBDCs must tackle a "serious challenge" at WEF 2023.
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SARB governor: CBDCs must tackle a "serious challenge" at WEF 2023.

Lesetja Kganyago spoke at WEF 2023 in Davos, Switzerland. The SARB governor suggested a national discussion before establishing CBDCs. Crypto barely fits two of three currency standards, he said.

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.

European Central Bank Encourages Clear Regulatory Structure for Stablecoins to Reap the Benefits While Minimizing Potential Risks
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European Central Bank Encourages Clear Regulatory Structure for Stablecoins to Reap the Benefits While Minimizing Potential Risks

The European Central Bank (ECB) published an in-depth report on global stablecoins, focusing on highlighting the requirement for clear regulatory parameters for stablecoins, and the risks it may pose to financial stability. The ECB suggests that a “robust regulatory framework” must be established to address risks before its benefits could be explored.

Kraken Secures E-Money License in EU, Expands Virtual Asset Services in Spain
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Kraken Secures E-Money License in EU, Expands Virtual Asset Services in Spain

Kraken, a San Francisco-based crypto platform, has secured an E-Money Institution license from the Central Bank of Ireland and registered as a Virtual Asset Service Provider in Spain. These moves are part of Kraken's strategy to expand its European operations.

Stern Warning on Crypto Trading by the China's Central Bank Prompts Bitcoin Bears
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Stern Warning on Crypto Trading by the China's Central Bank Prompts Bitcoin Bears

Following a cryptocurrency trading clampdown threat by China's central bank, People’s Bank of China (PBoC), Bitcoin has seen losses of more than 10%. Its value has dropped below $7,000.

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.

Banks in Brazil Set to Introduce New Payment System to Rival Cryptocurrency
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Banks in Brazil Set to Introduce New Payment System to Rival Cryptocurrency

The central bank of Brazil is looking to provide a 24-hour payment system with a speed capacity of 10 seconds via the use of mobile apps, internet banking, and ATMs. Code named PIX, it is set to directly rival the use of cryptocurrency in the country.

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).

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.

Crypto Market to Skyrocket to $1.75 Billion by 2027, Report Reveals CBDCs Could be a Game-Changer
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Crypto Market to Skyrocket to $1.75 Billion by 2027, Report Reveals CBDCs Could be a Game-Changer

Fortune Business Insights reports that the cryptocurrency market will hit $1.758 billion by 2027 from $754 million recorded in 2019, representing a compound annual growth rate (CAGR) of 11.2%. This growth will be spurred by blockchain technology as it makes cryptocurrency transactions effective, secure, and fast.

Major China Bank Disables Digital Yuan Wallet Registration After Launch Draws Intense Public Attention
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Major China Bank Disables Digital Yuan Wallet Registration After Launch Draws Intense Public Attention

China Construction Bank (CCB) opened registration service for the DCEP wallet via its mobile app but disabled the new feature shortly after.

Singapore’s Central Bank and JP Morgan Build a Blockchain System for Multi-currency Cross-Border Payments
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Singapore’s Central Bank and JP Morgan Build a Blockchain System for Multi-currency Cross-Border Payments

Blockchain has been making headlines for quite some time now and banks have been widely talking about distributed ledger technology. Several financial institutions and banks have set up innovation labs to carry out proof of concepts so that to explore modern-day technology. A few days ago, Singapore’s Central Banks and JPMorgan announced that they are working on a blockchain pilot system, which is identified to have the potential to initiate multi-currency cross-border payments.

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.

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.

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).

India’s Supreme Court Turned the Tables on Crypto Ban in Landmark Ruling
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India’s Supreme Court Turned the Tables on Crypto Ban in Landmark Ruling

In a momentous ruling, India’s Supreme Court has lifted the ban made by the Reserve Bank of India (RBI), the nation’s central bank, on banks and other regulated entities dealing with cryptocurrencies. The court noted that preventing regulated entities from offering banking services to crypto trading stakeholders did not hold any water.

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.

Central Banks Race to Adopt Fiat-Backed Cryptocurrencies
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Central Banks Race to Adopt Fiat-Backed Cryptocurrencies

Cryptocurrency innovations are scrambling to get adoption across the world. However, there is also another race. Many nations are competing to become the first to adopt a central bank cryptocurrency. Let’s understand why central banks are scrambling to acquire fiat-backed cryptocurrencies.

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.

Kraken Irish Subsidiary Awarded VASP Authorization by Central Bank of Ireland
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Kraken Irish Subsidiary Awarded VASP Authorization by Central Bank of Ireland

Payward Europe Solutions, Kraken's Irish subsidiary, has been granted VASP authorization by the Central Bank of Ireland. This authorization comes at a critical time as the EU is set to vote on the MiCA regulation, which requires all companies operating as a crypto assets service provider in the EU to register with an authorized regulator.

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.

Saudi Central Bank Hires Former Accenture CEO To Drive Crypto Ambitions
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Saudi Central Bank Hires Former Accenture CEO To Drive Crypto Ambitions

Mohsen Al Zahrani is tasked with supporting digital assets business development activities, including central bank digital currency.

World's Largest IPO Ant Group to Raise $34.4 Billion, What is behind it?
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World's Largest IPO Ant Group to Raise $34.4 Billion, What is behind it?

Ant Group priced its dual listing on the Hong Kong Stock Exchange and Shanghai's Star Market at 80 Hong Kong dollars ($10.32) and 68.8 yuan ($10.26) per share respectively,

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.

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.

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).

Dutch Central Bank Forces Crypto Firms to Register Within Two Weeks or Face Cease and Desist
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Dutch Central Bank Forces Crypto Firms to Register Within Two Weeks or Face Cease and Desist

The Dutch Central Bank, De Nederlandsche Bank (DNB) has announced that crypto companies must register with the authority by May 18, or to stop operating immediately. DNB has looking to enforce the Dutch anti-money laundering (AML) laws, which was passed by the Dutch Parliament in April to comply with the Fourth Anti-Money Laundering Directive (AMLD4) laws. The Dutch AML laws are in compliance with the Financial Action Task Force-recommended AML directives and standards.

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.

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

Bank of Korea Acquires Samsung-Backed BankSign Blockchain Platform, Seeking to Deploy the Platform at Local Banks
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Bank of Korea Acquires Samsung-Backed BankSign Blockchain Platform, Seeking to Deploy the Platform at Local Banks

Bank of Korea makes a huge step in acquiring Samsung-backed BankSign authentication certificate service. The central bank seeks to deploy the blockchain platform in local banks.

Central Bank of Russia Intends to Bring Crypto to Stock Exchanges
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Central Bank of Russia Intends to Bring Crypto to Stock Exchanges

The Central Bank of Russia (CBR) is reportedly making plans to permit cryptocurrencies like Bitcoin to start trading on the nation’s regulated stock exchanges.

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.

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.

Bank of England Chooses Accenture To Rebuild UK Payment System
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Bank of England Chooses Accenture To Rebuild UK Payment System

Accenture has won a tender with the UK’s central bank to assist in building the UK’s new RTGS (real-time gross settlement) service.

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).

Former British Politician Godfrey Bloom Announces First Bitcoin Purchase
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Former British Politician Godfrey Bloom Announces First Bitcoin Purchase

Godfrey Bloom, the former British Member of Parliament, has revealed that he is making his first purchase of Bitcoin.

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.

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).

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.

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).

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.

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.

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?

Sri Lanka’s Central Bank Shortlists Three Tech Firms to Develop Blockchain PoC for KYC Optimization
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Sri Lanka’s Central Bank Shortlists Three Tech Firms to Develop Blockchain PoC for KYC Optimization

The central bank of Sri Lank has selected three tech companies to develop a proof-of-concept for shared know-your-customer platform using blockchain.

Slow and Steady Wins the CBDC Race: Why the US is not Concerned with China's Speed
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Slow and Steady Wins the CBDC Race: Why the US is not Concerned with China's Speed

Slow and steady wins the CBDC Race: there are several reasons why the United States' digital dollar development has an edge over China’s speedy approach to its digital yuan.

Cryptocurrencies Should be Given Room to Grow, Asserts IMF Chief
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Cryptocurrencies Should be Given Room to Grow, Asserts IMF Chief

Christine Lagarde, the IMF Chief has asked financial players, such as central banks, to be open-minded when it comes to innovations, such as cryptocurrencies, as they should be given space to grow.

The Bank of Russia Says CBDC Will Eliminate Challenges Caused by Cryptocurrencies
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The Bank of Russia Says CBDC Will Eliminate Challenges Caused by Cryptocurrencies

An executive working at Russia’s Central Bank has stated that a Central Bank Digital Currency could serve as a response to problems being created by cryptocurrencies.

CBDCs on the Rise: What the Decline of Physical Cash Means for Blockchain and Privacy
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CBDCs on the Rise: What the Decline of Physical Cash Means for Blockchain and Privacy

The decline in the use of physical cash raises important questions about the loss of personal freedom and privacy. As central banks explore the development of CBDCs, the design and implementation of these digital currencies will play a critical role in balancing convenience and personal liberties.

RBI and Central Bank of UAE sign MOU on CBDC bridge
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RBI and Central Bank of UAE sign MOU on CBDC bridge

The Reserve Bank of India and the Central Bank of UAE have signed an MOU to collaborate on CBDC interoperability, specifically for the development of a CBDC bridge to facilitate remittances and trade.

European Central Bank Assesses Potential Digital Euro CBDC Issuance
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European Central Bank Assesses Potential Digital Euro CBDC Issuance

The European Central Bank (ECB) evaluated whether a digital euro would be a beneficial addition to its financial system through an October report.

Visa Crypto Executive: CBDC is the Most Important Trend for Future of Money
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Visa Crypto Executive: CBDC is the Most Important Trend for Future of Money

Central Bank Digital Currencies (CBDC) could be the most important payment trend in development with the most profound effects on our systems of payment and money issuance according to Cuy Sheffield, Visa’s head of cryptocurrency.

Nigerian President-elect's Manifesto Includes Blockchain and Crypto Regulations
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Nigerian President-elect's Manifesto Includes Blockchain and Crypto Regulations

Nigerian President-elect Bola Tinubu has released a manifesto proposing the implementation of blockchain technology and cryptocurrencies in Nigeria's banking and finance sector. The manifesto suggests reforming existing Nigerian Security Exchange Commission regulations to create a more business-friendly framework for regulating digital assets. The proposed regulations would require digital asset companies to register with the SEC and comply with SEC regulations. The release of the manifesto coincides with the increasing adoption of cryptocurrencies in Nigeria, with the government hoping that the proposed SEC regulation reforms will attract more investors in the digital and economic sectors and stimulate economic growth.

Central Bank of Brazil Forms a Digital Currency Study Team to Drive CBDC Research Forward
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Central Bank of Brazil Forms a Digital Currency Study Team to Drive CBDC Research Forward

The Central Bank of Brazil is planning the potential issuance of a Central Bank Digital Currency (CBDC) by setting up a research study group.

China’s Central Bank Partners with Commercial Banks and Telecom Giants to Test Digital Currency in Two Major Cities
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China’s Central Bank Partners with Commercial Banks and Telecom Giants to Test Digital Currency in Two Major Cities

New developments of China’s central bank geared towards testing its digital currency electronic payment (DCEP) in the cities of Shenzhen and Suzhou. The People’s Bank of China, the country’s central bank is on track to become the first central bank on the globe to issue a national digital currency.

Russia Finally Showing Signs of Embracing Digital Assets in New Bill
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Russia Finally Showing Signs of Embracing Digital Assets in New Bill

After successfully undergoing test period, tokenization is set to take centre stage with reforms as newly proposed cryptocurrency legislation in Russia received the green lights.

Russian law legalises crypto mining, sales under 'experimental legal system'
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Russian law legalises crypto mining, sales under 'experimental legal system'

Cryptocurrency mining and sale of the cryptocurrency mined could be legal in Russia if a bill is passed by parliament. A Russian platform for cryptocurrency sales will be set up if the law is passed, and Russian miners will be able to use foreign platforms. Russian currency controls and regulations would not apply to the transactions, but they would have to be reported to the Russian tax service.

Bank Indonesia Plans to Launch its Central Bank Digital Currency
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Bank Indonesia Plans to Launch its Central Bank Digital Currency

Bank Indonesia is planning to launch its central state digital currency in response to the increasingly prosperous cryptocurrency market.

Hungarian Central Bank Governor Advocates EU Wide Crypto Ban
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Hungarian Central Bank Governor Advocates EU Wide Crypto Ban

The Governor of the Hungarian Central Bank, György Matolcsy, recommended that all cryptocurrency-focused activities including trading and mining should be banned across the European Union.

China’s DCEP Aims to Restructure the Payment Network While Maintaining a “Normal” Monetary Policy
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China’s DCEP Aims to Restructure the Payment Network While Maintaining a “Normal” Monetary Policy

A Chinese senior central bank official said China should maintain a “normal” monetary policy as the country has been recovering from COVID-19 smoothly.

German Finance Minister Calls for Speedy Interventions in the Rollout of a Digital Euro
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German Finance Minister Calls for Speedy Interventions in the Rollout of a Digital Euro

German Finance Minister, Olaf Scholz, sees the digital euro as an ideal innovation to meet the high demand for digital money from businesses and consumers in Europe.

Private Firms Can Boost Innovation of Central Bank Digital Currency, says IMF
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Private Firms Can Boost Innovation of Central Bank Digital Currency, says IMF

A synthetic Central bank digital currency (CBDC) could create new pathways for innovation according to a senior member of the International Monetary Fund (IMF).

Kenyan Central Bank Seeks Public Opinion concerning CBDC
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Kenyan Central Bank Seeks Public Opinion concerning CBDC

As a change of tune about crypto assets, the Central Bank of Kenya (CBK), Kenya’s apex bank, seeks to know the public's view about the potential introduction of CBDC.

India’s Central Bank to Begin Testing Its CBDC in December
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India’s Central Bank to Begin Testing Its CBDC in December

The governor of India’s central bank recently said that the regulator is preparing to start trial programs for its digital rupee by December. The central bank revealed that it will examine the functionality of the national central bank digital currency to ascertain the suitability of the underlying technology.

PayPal CEO Announces Plans for Cryptocurrency Business Expansion to Reach More Users
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PayPal CEO Announces Plans for Cryptocurrency Business Expansion to Reach More Users

PayPal CEO discussed the integration of cryptocurrency into its business and potential business partnerships with central banks.

China's Pursuit of Digital Yuan "Unswerving" in Wake of COVID-19 Global Pandemic, says Central Bank
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China's Pursuit of Digital Yuan "Unswerving" in Wake of COVID-19 Global Pandemic, says Central Bank

China’s central bank has further galvanised its public commitment to creating the first central bank digital currency (CBDC), a digital version of the Yuan, at an annual meeting hosted last Friday by the People’s Bank of China (PBoC) vice governor Yifei Fan.

Federal Reserve Votes to Keep Inflationary Monetary Conditions as US Economy Heals
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Federal Reserve Votes to Keep Inflationary Monetary Conditions as US Economy Heals

Federal Reserve officials voted at the Federal Open Market Committee (FOMC) meeting to maintain the same monetary conditions that have aided Bitcoin's 2020 price surge.

"Bitcoin Is Risky," Says BIS Chief as Crypto and Unconventional Stocks like GameStop Gain Support
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"Bitcoin Is Risky," Says BIS Chief as Crypto and Unconventional Stocks like GameStop Gain Support

The Bank for International Settlements remains skeptical of Bitcoin, echoing the sentiments of many traditional banking institutions.

Russia’s Central Bank Orders Local Stock Exchanges to Avoid Listing Crypto-Related Funds
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Russia’s Central Bank Orders Local Stock Exchanges to Avoid Listing Crypto-Related Funds

The Bank of Russia has instructed local stock exchanges not to list any cryptocurrency services to firms.

The ECB Warns Financial Stability Risks If Central Banks Fails to Issue Digital Currencies
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The ECB Warns Financial Stability Risks If Central Banks Fails to Issue Digital Currencies

The European Central Bank (ECB) warns that nations who decide not to issue CBDCs may encounter risks to their monetary autonomy and financial systems.

ECB Publishes New Guideline on Regulated Digital Asset Licensing
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ECB Publishes New Guideline on Regulated Digital Asset Licensing

The European Central Bank (ECB) has issued new licensing guidelines for regulating digital assets, although it currently does not have a unified regulatory framework governing crypto-asset activities and services.

Deutsche Bank Executive Says CBDC is More of a Political Decision
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Deutsche Bank Executive Says CBDC is More of a Political Decision

Deutsche Bank Executive Burkhard Balz has noted that the decision to launch a CBDC by any country may be more of a political decision than a technical one.

Morocco Completed Crypto Regulation
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Morocco Completed Crypto Regulation

Morocco may draft a crypto law soon. Industry stakeholders will debate the Central Bank's paper. Morocco has the fastest-growing crypto market in Northern Africa, rising from 2.4% to 3.1% in 2021. Soluna built the first blockchain wind farm in 2020.

Deal Box offers $125M blockchain and Web3 venture fund
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Deal Box offers $125M blockchain and Web3 venture fund

Deal Box created a $125 million Web3 venture capital fund. Deal Box Ventures will support emerging growth, real estate, fintech, funtech, and social impact firms. It owns Total Network Services, Rypplzz, and Forward-Edge AI. Lesetja Kganyago spoke at WEF 2023 in Davos, Switzerland. Before launching CBDCs, the SARB governor suggested a national dialogue. Crypto barely fits two of three currency standards, he said.

Can Jack Ma's ANT Group meet China's Regulators Requirements?
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Can Jack Ma's ANT Group meet China's Regulators Requirements?

Following the suspension of its IPO, whether Ant Group will manage to restructure itself, to meet China's new tightened regulatory requirements still remains anyone’s guess.

Ripple to Build The Core Ledger that Will Power Central Bank Digital Currencies
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Ripple to Build The Core Ledger that Will Power Central Bank Digital Currencies

Ripple has been making headway in pursuing projects involving central bank digital currency issuances.

South Korea Grants Central Bank More Power Over Crypto
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South Korea Grants Central Bank More Power Over Crypto

The Bank of Korea (BoK) has been given more power to investigate cryptocurrency service providers, including the ability to request transaction data from crypto exchanges. The move comes amid ongoing discussions on virtual asset legislation in South Korea, with the Financial Services Commission (FSC) holding the final say on the regulation of the digital asset sector. The two institutions have been at odds for several years over crypto regulations.

Bitcoin Plummets as Fed Reserve Chair Jerome Powell Confirms Inflation Strategy Will Not Change
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Bitcoin Plummets as Fed Reserve Chair Jerome Powell Confirms Inflation Strategy Will Not Change

Federal Reserve chairman Jerome Powell has confirmed that the central bank’s monetary strategy regarding inflation will not change.

Russia’s Central Bank Will Ban Crypto Issuance and Trading in Upcoming “Digital Financial Assets” Bill
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Russia’s Central Bank Will Ban Crypto Issuance and Trading in Upcoming “Digital Financial Assets” Bill

Alexey Guznov, head of the legal department at Bank of Russia, says that the new version of the delayed bill on “Digital Financial Assets” will include a ban on issuance and selling of cryptos in the country.

Top Four South Korean Banks Announce Plans to Provide Cryptocurrency Custodial Services
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Top Four South Korean Banks Announce Plans to Provide Cryptocurrency Custodial Services

Two of South Korea’s top banks have recently announced that they were looking into providing cryptocurrency custodial services to their clients.

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