UK think tank launches a crusade against ‘surveillance’ CBDCs
The Bank of England’s plans for a CBDC launch raises concern among UK Tax Reform Council and the broader Bitcoin community. Go to Source Powered by WPeMatico
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UAE Launches ‘Financial Infrastructure Transformation’ Program; CBDC Among 9 Key Objectives
On Feb. 12, 2023, the Central Bank of the United Arab Emirates (CBUAE) announced the launch of a new initiative called the “Financial Infrastructure Transformation Program,” which has nine key objectives. One of these objectives is the research and development of a central bank digital currency (CBDC) designed to address both cross-border payments and domestic … Read more
China to launch national blockchain research center
The goal of the new state-supported institution is to speed up the country’s industry through blockchain technology. Go to Source Powered by WPeMatico
Digital Gold Traded for Digital Rubles by Russia’s Rosbank
Rosbank has brokered Russia’s first deal involving the exchange of tokenized gold with the digital version of the Russian national fiat currency, the ruble. The successful transaction demonstrates the growing interest in digital financial assets and the need for digital ruble payments, the banking institution stated. Rosbank and Atomyze Exchange Gold and Rubles in Digital … Read more
India in ‘no hurry’ for CBDC as digital rupee pilot onboards 50k users
The central bank of India wants to proceed with CBDC testing in the smoothest way possible, deputy governor Rabi Sankar said. Go to Source Powered by WPeMatico
Russia’s Gazprombank recommends slow CBDC rollout fearing loss of income
Gazprombank, a subsidiary of a state-owned energy corporation, which participates in Russia’s CBDC initiative, fears losing a part of its income as the digital ruble replaces traditional fiat currency. Go to Source Powered by WPeMatico
Nouriel ‘Dr. Doom’ Roubini Warns About Demise of US Dollar
Nouriel Roubini, an economist known as “Dr. Doom,” has warned about the demise of the U.S. dollar and the rise of a “bipolar” world. Roubini believes that the Chinese renminbi might be a substitute for the dollar, as new technologies like central bank digital currencies (CBDCs) and corporate payment rails contribute to a new landscape. … Read more
BIS to launch stablecoin monitoring project and up focus on CBDC experiments
The bank for central banks is expanding its CBDC research while developing a platform to monitor stablecoin balance sheets. Go to Source Powered by WPeMatico
Laotian CBDC proof of concept project to launch using system pioneered in Cambodia
The Laotian central bank and the Soramitsu firm signed an MOU to launch the project to expand financial inclusivity and provide sellers with faster settlement. Go to Source Powered by WPeMatico
UK’s digital pound would modernize payments but won’t replace cash: Minister
Finance minister Jeremy Hunt says the digital pound, or “Britcoin” would be issued and backed by the Bank of England, but won’t negate the use of cash. Go to Source Powered by WPeMatico