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The Central Bank of Russia plans to begin the comprehensive implementation of the digital ruble two years from now, according to a paper detailing its monetary policy priorities for the 2023 – 2025 period. As the development of the state-issued digital currency continues, the monetary authority intends to gradually connect various financial institutions to the … Read more
It is illegal to buy or sell cryptocurrency in Iran, the head of the country’s monetary authority has recently reminded citizens and businesses. The governor noted, however, that mining cryptocurrencies and using them in payments for imports is not against the law in the Islamic Republic. Top Banker Confirms Crypto Trading Still Illegal in Iran … Read more
Bank of Russia started CBDC testing in 2022 and expects to implement an official banking rollout in the year of presidential elections in 2024. Go to Source Powered by WPeMatico
Will central banks allow stablecoins to survive? Maybe as a financial instrument for the unbanked or they will be able to peacefully co-exist? Go to Source Powered by WPeMatico
The monetary authority in Australia is beginning research into the potential economic benefits of issuing a central bank digital currency. Within the project, the regulator hopes to identify use cases and intends to develop a limited-scale pilot. Central Bank of Australia Working on Digital Currency Program The Reserve Bank of Australia (RBA) announced the launch … Read more
Prolonged economic sanctions against the Islamic state have forced Iran to start using crypto as a medium of exchange for international trade deals. Go to Source Powered by WPeMatico
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
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
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 Retail CBDC will be tested in a limited retail environment with 10,000 participants and three major banks. Go to Source Powered by WPeMatico