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United States Representative Tom Emmer introduced legislation in the U.S. House of Representatives that could prevent the Federal Reserve from issuing a central bank digital currency. Go to Source Powered by WPeMatico
A tokenized version of the digital real, the Brazilian central bank digital currency (CBDC), has passed a public blockchain pilot test successfully. The test, which was carried out by Mercado Bitcoin, a local exchange, using the Stellar network, shows that the digital real token can be used in public blockchains following all compliance rules set … Read more
On the sidelines of the G20 meeting, U.S. Treasury Secretary Janet Yellen said the country is not pushing for an outright banning of crypto activities. Go to Source Powered by WPeMatico
The IMF mission spent three months studying conditions in the country, which is preparing to produce a feasibility report. Go to Source Powered by WPeMatico
peaking in Singapore, Agustín Carstens described a ledger that would accommodate a variety of public and private projects in discrete but connectable parts. Go to Source Powered by WPeMatico
If passed, the legislation could prohibit the Fed from issuing a digital dollar “directly to anyone”, as well as bar the bank from implementing monetary policy based on a CBDC. Go to Source Powered by WPeMatico
The Bank of Japan is preparing to launch a pilot test for a digital yen, its central bank digital currency (CBDC), later this year. Shinichi Uchida, executive director of the Bank of Japan, explained that the goals of this new pilot are to test the technical feasibility of the currency and to include private businesses … Read more
After multiple attempts to create an efficient digital currency, the Central Bank of Nigeria is turning to a New York tech firm to revamp the underlying technology. Go to Source Powered by WPeMatico
One of the banking partners in the cross-border remittance service is also part of the government’s CBDC program. Go to Source Powered by WPeMatico
Andy Schectman, CEO of Miles Franklin Precious Metals Investments, explained in a recent interview that the five leading emerging economies—Brazil, Russia, India, China, and South Africa, collectively known as BRICS nations—are “coalescing against the dollar.” Schectman believes that since 2022, de-dollarization “seems to be spinning much, much faster.” De-Dollarization and CBDCs: Monetary Historian Suggests a … Read more