The world could be facing a dark future thanks to CBDCs
From forcing people to spend their money to making them save it, central banks around the world could soon use CBDCs to create a dystopian nightmare. Go to Source Powered by WPeMatico
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Bank profits at risk from potential CBDC transformation of global economy: Moody’s
CBDCs are here to stay, it seems, and Moody’s is looking at their implications for the global economy and international banking. Go to Source Powered by WPeMatico
The UAE central bank signs deal for CBDC strategy
The CBDC strategy was first unveiled in February as part of the central bank’s program to position the UAE as a global financial hub. Go to Source Powered by WPeMatico
US Senator Introduces Bill to Ban Direct-to-Consumer Central Bank Digital Currency
U.S. Senator Ted Cruz has introduced “legislation to prohibit the Federal Reserve from developing a direct-to-consumer” central bank digital currency (CBDC). The lawmaker warned that it “could be used as a financial surveillance tool by the federal government.” Another senator stressed: “The American people ought to be able to spend their money how they choose … Read more
Adopting CBDC could destabilize banks, help households, US Treasury study says
When integrated into the economy, a CBDC or stablecoin would compete with bank deposits to the public benefit, at least until a financial crisis. Go to Source Powered by WPeMatico
US Central Bank’s Fednow Payment Service to Launch in July, Economist Calls Timing ‘Suspicious’
According to the U.S. Federal Reserve, the central bank’s Fednow payment service will start operating in July, and participants will be certified in April to leverage the Fednow Pilot Program. Ken Montgomery, the Fednow program executive, is urging American financial institutions to make preparations to join the central bank’s new payment service. Economist Richard Werner, … Read more
Nigeria CBDC adoption spikes as fiat currency shortage grip the nation
The acute cash shortage in Nigeria was due to the central bank’s decision to replace older bank notes with bigger denominations amid rising inflation. Go to Source Powered by WPeMatico
‘Crypto FUD’ — Industry outraged as White House report slams crypto
The report included 35 pages seemingly aimed at debunking the merits of crypto assets. Go to Source Powered by WPeMatico
IMF examines CBDC design in context of Islamic banking, finds some risks magnified
A central bank digital currency’s liquidity and foreign exchange would work differently Islamic law from what might be expected. Go to Source Powered by WPeMatico
Florida gov and US presidential hopeful calls for CBDC ban
“What the central bank digital currency is all about is surveilling Americans and controlling behavior of Americans,” said Ron DeSantis at a ‘Big Brother’s Digital Dollar’ podium. Go to Source Powered by WPeMatico
