The Reserve Bank of Australia to explore use cases for CBDC
The pilot project will last a year, and the details for potential participants will be published in the next few months. Go to Source Powered by WPeMatico
CBDC
Auto Added by WPeMatico
Nepal Prepares to Issue Digital Currency, Drafts Necessary Amendments
A task force in Nepal has proposed legal changes allowing the country’s central bank to issue its own digital currency. The move comes after a study indicated that such an initiative is feasible and recommended certain provisions that would authorize the regulator to proceed with its realization. Nepal Central Bank Prepares Legal Ground for National … Read more
Central Bank of Brazil Director Praises Bitcoin as a Financial Innovation, Talks Programmable Digital Real
Fabio Araujo, Director of the Central Bank of Brazil, has praised the properties of Bitcoin, saying it is a financial innovation using new technologies. To Araujo, Bitcoin was the catalyst for what is today known as Web3. At an event, Araujo also commented about the status of the development of the digital real, stating that … Read more
The Bank of Thailand to pilot Retail CBDC by the end of 2022
The Retail CBDC will be tested in a limited retail environment with 10,000 participants and three major banks. Go to Source Powered by WPeMatico
UK parliamentary group calls for submissions in new crypto asset inquiry
The U.K.’s Crypto and Digital Assets All Party Parliamentary Group (APPG) announced it will launch an inquiry into the crypto and digital asset industry. Go to Source Powered by WPeMatico
CBDC Could Be ‘Holy Grail’ of Cross-Border Payments, ECB Says, Sees Bitcoin as Less Credible
Several solutions can potentially improve cross-border payments significantly and central bank digital currency (CBDC) could be the “holy grail,” according to the European Central Bank (ECB). In a new report, the eurozone’s monetary authority also claims stablecoins, among other options, are “problematic.” ‘Holy Grail’ of Cross-Border Payments in Reach Through CBDC, European Central Bank Insists … Read more
Chinese municipal bank issues first-ever digital yuan loan using intellectual property as collateral
The unnamed recipient of the loan said the e-CNY transaction was fast and efficient; they received an equivalent of 500,000 CNY, which was $74,020 at the time of publication. Go to Source Powered by WPeMatico
European Central Bank bets on CBDCs over BTC for cross-border payments
ECB’s interest in identifying the best cross-border payment solution stems from the fact that it serves as the central bank of the 19 European Union countries which have adopted the euro. Go to Source Powered by WPeMatico
Central African Republic Token Sale off to Slow Start — $1.26 Million Raised in Under 5 Days
The Central African Republic’s token sale appeared to have gotten to a slow start after less than 13 million out of the 210 million Sango coins were sold since the commencement of the sale on July 25. The country has claimed its decision to adopt bitcoin has won praise from “other African countries exploring the … Read more
ECB Economists Suggest Limiting Access to Digital Euro to Protect Banks
A group of economists evaluating the potential effects of a digital euro have insisted that restricting access to the upcoming currency is necessary to preserve the current financial system. Their study follows an earlier proposal to limit digital euro deposits at the European Central Bank (ECB) to €3,000 per person. Limited Availability of Digital Euro … Read more
