US lawmakers request Justice Dept share CBDC assessment
The House members claimed the “appropriate place for the discussion” on legislation concerning a digital dollar would be in the U.S. legislative branch. Go to Source Powered by WPeMatico
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Law Decoded, Sept. 26–Oct. 3: New episode of Do Kwon saga
Terra’s co-founder continues his adventures, writing code in his living room, posting on Twitter and hiding from Interpol all at once. Go to Source Powered by WPeMatico
Bank of Russia Adds Digital Assets to Banking Chart of Accounts
Central Bank of Russia has introduced digital assets, including the digital version of the Russian ruble, to the recently published draft of the new banking chart of accounts. In the future, financial institutions will be able to provide data about operations with these assets. Russian Banks to Record Digital Currencies as Assets in Their Accounting … Read more
US Senator Introduces ‘No Digital Dollar Act’ to Prohibit Treasury and the Fed From Interfering With Americans Using Paper Currency
A U.S senator has introduced the “No Digital Dollar Act to prohibit the U.S. Treasury and the Federal Reserve from interfering with Americans using paper currency” if a central bank digital currency is adopted. The bill further states: “No central bank digital currency shall be considered legal tender under section 16 5103 of title 31, … Read more
Central banks can push DeFi into mainstream: Swiss National Bank official
A combination of centralization and decentralization is a perfect mix for the development of crypto and DeFi, according to a Swiss National Bank official. Go to Source Powered by WPeMatico
ECB reports on digital euro validation, privacy one year into investigative phase
The ECB’s two-year investigative phase is halfway completed, with key use and policy issues clarified; more stakeholder engagement is planned before the decision is made to proceed. Go to Source Powered by WPeMatico
China, Hong Kong, Thailand, and UAE Trial Cross-Border Transactions With Digital Currencies
The monetary authorities of four jurisdictions in Asia have carried out tests with international settlements using state-issued digital currencies. Cross-border payments and foreign exchange transactions totaling over $22 million were made as part of the pilot project with the participation of the Bank for International Settlements. Asian Central Banks Pilot Real-Value International Settlements With Digital … Read more
The Caribbean is pioneering CBDCs with mixed results amid banking difficulties
Emtech’s Cadet talks about CBDCs in emerging markets as the U.S. Congress and United Nations hear about the traditional banking crises. Go to Source Powered by WPeMatico
Fed Chair Jerome Powell Updates Work on Digital Dollar — Says US Central Bank Digital Currency Will Take ‘at Least a Couple of Years’
Federal Reserve Chairman Jerome Powell says the U.S. central bank is looking at whether to issue a digital dollar with a “very broad scope.” He noted that the Fed is collaborating with Congress and the executive branch on whether to issue a central bank digital currency. Fed Chair Powell on Digital Dollar Progress Federal Reserve … Read more
Israel, Norway and Sweden central banks partner with BIS to explore CBDC
The Project Icebreaker initiative aimed to improve cross-border payments by reducing costs and increasing speed and transparency, with a final report expected in Q1 2023. Go to Source Powered by WPeMatico