The ‘godfather of crypto’ wants to create a privacy-focused CBDC: Here’s how
David Chaum explained his game plan to create a CBDC that would also be appreciated by the crypto ecosystem in an exclusive interview. Go to Source Powered by WPeMatico
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Bill on Digital Ruble Submitted to Russian Parliament
A draft law devoted to the digital ruble has been filed with the State Duma, the lower house of Russian parliament. The legislation introduces rules determining how the new form of national fiat will be issued and amends a series of legal acts to facilitate its implementation. Bank of Russia to Be the Sole Operator … Read more
China’s Digital Yuan Little Used, Former Central Bank Official Says
Trials of the digital yuan have produced disappointing results, according to a report quoting the former head of research at the Chinese central bank. The new form of national fiat has brought no benefits to the banks and should expand beyond being employed only as a substitute for cash, the banker believes. Common People Used … Read more
Central Bank of Turkey Reports First Payment Transactions on Digital Lira Network
The Central Bank of the Republic of Turkey (CBRT) has conducted the first payment transactions on the test network of the digital lira. The monetary authority intends to proceed with more testing in 2023 and plans to invite banks and fintech companies to join the trials. Turkey to Widen Participation in Digital Lira Project, Focus … Read more
Former Chinese central banker says digital yuan ‘usage has been low’
A former China central banker said cumulative e-CNY transactions only crossed $14 billion in two years, adding the results were “not ideal.” Go to Source Powered by WPeMatico
China’s CBDC wallet resorts to ages-old tradition to boost adoption
A traditional Chinese way of gifting money that’s gone virtual with the rise of digital payments has been introduced into the digital yuan wallet app. Go to Source Powered by WPeMatico
Project Hamilton has concluded, weeks after legislators’ enquiry according to Boston Fed
The two-year project produced a white paper in February; research results will continue to appear, with the Fed’s partner at MIT scheduled to make a research report in January. Go to Source Powered by WPeMatico
ECB to Decide Whether to Issue Digital Euro in 2023
The European Central Bank (ECB) has published a new report on the progress of its investigation into the possible launch of a digital euro. The research will continue next year with the regulator planning to make a decision whether to proceed to the realization of the project in the fall of 2023. ECB to Develop … Read more
Nigerian Central Bank Increases Cash Withdrawal Limits After Receiving ‘Feedback From Stakeholders’
Barely a month after announcing the restricting of cash withdrawals to under $50 per week, the Central Bank of Nigeria said on Dec. 21 that individuals will be able to withdraw an equivalent of $1,120 per week starting on Jan. 9, 2023. The central bank said individuals and corporate organizations withdrawing amounts exceeding the new … Read more
How crypto could be good for CBDC and vice versa: Industry exec explains
While some governments continue bashing crypto, some industry executives argue that crypto could be beneficial for CBDCs. Go to Source Powered by WPeMatico