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Hong Kong Monetary Authority Reviews Virtual Banks, Proposes Renaming to 'Digital Banks'

Hong Kong Monetary Authority Reviews Virtual Banks, Proposes Renaming to 'Digital Banks'

The HKMA issued a report on virtual banks, evaluating their impact and proposing a name change to 'Digital Banks'.

China’s Major State-Run Commercial Banks Test CBDC Digital Wallet

China’s Major State-Run Commercial Banks Test CBDC Digital Wallet

China’s major state-run banks are testing out its central bank digital currency (CBDC) digital wallet application. The Chinese central bank, having said that its CBDC, also known as digital currency electronic payment (DCEP), is “almost ready,” is finally moving a step closer to its official launch nationwide.

eToro CEO: Central Banks will Inevitably Establish Digital Currencies

eToro CEO: Central Banks will Inevitably Establish Digital Currencies

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

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

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.

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

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

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

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

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.

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

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).

Central Bank Official: Blockchain Application Ideal for Chinese Commercial Banks

Central Bank Official: Blockchain Application Ideal for Chinese Commercial Banks

Li Wei, the Technology Departmental Head of the People’s Bank of China, has urged Chinese commercial banks to embrace blockchain and digital finance.

DBS Bank Claims COVID-19 Accelerated Central Banks' Interest in Digital Currencies

DBS Bank Claims COVID-19 Accelerated Central Banks' Interest in Digital Currencies

DBS Bank has pointed out that the coronavirus pandemic has caused a “troubled and intrigued” dilemma for central banks around the world.

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

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.

40 German Banks Are Seeking Regulatory Approval to Offer Bitcoin Custody

40 German Banks Are Seeking Regulatory Approval to Offer Bitcoin Custody

Many German banks have filed a request to introduce a digital asset custody business. Germany’s Federal Financial Supervisory Authority, popularly identified as BaFin, has received over 40 applications from German banks interested in offering crypto custody services.

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

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

Bitcoin and Libra’s Ultimate Underlying Value to be Determined by Central Banks, says Ex-RBI Governor

Bitcoin and Libra’s Ultimate Underlying Value to be Determined by Central Banks, says Ex-RBI Governor

Former Indian central bank governor said that Bitcoin and Libra could play a role in a world where central banks are issuing their own digital currencies.

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