China doles out millions in digital yuan in bid to boost adoption: Report
Multiple Chinese city governments have given away millions worth of e-CNY to try to promote consumption around the holiday season. Go to Source Powered by WPeMatico
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UK is ‘likely’ to need digital currency, says BoE and Treasury: Report
The digital pound roadmap is reportedly set to be introduced next week, along with a joint public consultation. Go to Source Powered by WPeMatico
Kazakhstan’s digital currency in pilot stage, per Binance, National Bank joint report
The Central Asian country’s CBDC project is right on time, according to a 2020 roadmap, as consumers and merchants use the currency in a controlled environment. Go to Source Powered by WPeMatico
Banks in Russia to Lose $700 Million a Year Due to Digital Ruble, Experts Say
Russian banks may be the main losers from the introduction of a digital ruble while retailers will save on acquiring fees, analysts have predicted. The benefits for consumers using the new digital currency are not that obvious as they may not be paid any interest or cashback. Launch of Russia’s Digital Ruble Said to Result … Read more
HSBC needs someone to helm its tokenization efforts
HSBC is looking for a candidate who knows of digital assets, especially asset tokenization and custody, according to a job posting. Go to Source Powered by WPeMatico
Montenegro’s central bank teams up with Ripple on digital currency pilot project
Montenegro’s prime minister announced a central bank “digital currency or stablecoin” project with Ripple; the Balkan country currently uses the euro instead of a national currency. Go to Source Powered by WPeMatico
JPMorgan CEO Says BTC Is Fraudulent, a ‘Pet Rock;’ Bank of America Says CBDCs Are ‘Natural Evolution’ — Bitcoin.com News Week in Review
JPMorgan CEO Jamie Dimon has reiterated his supposed skepticism of bitcoin, recently calling it a “hyped-up fraud,” and a “pet rock.” For it’s part, Bank of America has said that it views central bank digital currencies (CBDCs) and stablecoins as a “natural evolution of today’s monetary and payment systems.” This and more on inflation and … Read more
Saudi Central Bank Says Ongoing CBDC Experiment Focused on Domestic Wholesale Use Cases
Saudi Arabia’s central bank digital currency (CBDC) experiment, which is being carried out in conjunction with local banks and fintechs, is presently focused on domestic wholesale uses cases, the central bank has said. Meanwhile, the Saudi Minister of Finance has said CBDCs can be a “fantastic tool” which can be used by developing countries as … Read more
UK Bitcoin community reacts to incoming CBDC and digital pound rollout
A new role, “Head of CBDC,” will help the United Kingdom to “explore the case for a digital pound,” although UK Bitcoiners would argue that might not be necessary. Go to Source Powered by WPeMatico
Saudi Central Bank still researching CBDC, but no decision on deployment
Saudi Arabia’s central bank stressed that no decision has been made to launch a CBDC in the Kingdom, but it will continue to research use cases. Go to Source Powered by WPeMatico