Russia delays digital ruble launch testing due to lawmaking process
The participating banks, however, express their readiness to proceed with the CBDC pilot. Go to Source Powered by WPeMatico
CBDC
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Ted Cruz and Ron DeSantis take on the ‘digital dollar’: Law Decoded, March 20–27
Two lawmakers in one week weighed in against the possibility of a United States central bank digital currency. Go to Source Powered by WPeMatico
G7 to collaborate on tighter crypto regulation: Report
Leaders from Japan, the United States, the United Kingdom, Canada, France, Germany, and the European Union are expected to outline a global cooperative strategy for digital assets in May. Go to Source Powered by WPeMatico
Bitcoin likely to outperform all crypto assets following banking crisis, analyst explains
The banking crisis is a catalyst for the next crypto bull run, in which Bitcoin will likely outperform all crypto assets, says Bloomberg analyst Mike McGlone. Go to Source Powered by WPeMatico
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
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