Fed issues discussion paper on benefits and risks of a digital dollar
“The Federal Reserve would only pursue a CBDC in the context of broad public and cross-governmental support,” said the recently published paper. Go to Source Powered by WPeMatico
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China’s Central Bank Digital Currency Now Has 261 Million Users — $14 Billion in Digital Yuan Transactions Made
China’s central bank digital currency now has 261 million unique users, according to an official of the central bank, the People’s Bank of China (PBOC). Furthermore, transactions worth 87.5 billion yuan ($13.78 billion) have been made using the digital yuan and more than 8 million merchants now accept e-CNY. China’s Central Bank Digital Currency Growing … Read more
BIS general manager: Central banks generate trust, not big techs or “anonymous ledgers”
According to the boss of the international institution owned by central banks, it is central banks that are best positioned to shape the future of money. Go to Source Powered by WPeMatico
Iran to reportedly pilot central bank digital currency soon
The Central Bank of Iran hinted at a possible CBDC pilot soon without elaborating on the time frame of the program. Go to Source Powered by WPeMatico
‘The risks outweigh the benefits’ of a Swiss CBDC, says SNB governing board member
“This does not mean the SNB is not interested in CBDC, but our focus is to look at the role that wholesale CBDCs could play,” said Andréa Maechler. Go to Source Powered by WPeMatico
Law Decoded: First-mover advantage in a CBDC conversation, Jan. 10–17
Strong framing move by U.S. Representative Tom Emmer and a looming threat of another crypto ban in Asia: a digest of last week’s top crypto policy stories is here. Go to Source Powered by WPeMatico
70% of Jamaica population to adopt CBDC in 5 years, prime minister says
The Caribbean country expects a nationwide CBDC rollout by the end of the first quarter of 2022. Go to Source Powered by WPeMatico
CBDCs and stablecoins: EY advises banks to ‘prepare for what’s coming’
A new report from EY highlights the need for a policy change for banks to overcome business uncertainties regarding digital assets. Go to Source Powered by WPeMatico
British Lawmakers Say a CBDC Is Likely to Hurt Financial Stability — Digital Pound Benefits Overstated
According to British lawmakers, a central bank digital currency (CBDC) is likely to raise the cost of borrowing while hurting financial stability. They insist the touted potential advantages of a digital pound are being overstated. Erosion of Privacy British lawmakers have said the use of a central bank digital currency when making regular payments could … Read more
Swiss National Bank Trials CBDC in Transactions With Five Banks
The Swiss National Bank has successfully employed a wholesale CBDC to settle transactions with five commercial banks, the monetary authority announced. The tests are part of an experiment carried out together with the Bank for International Settlements and Switzerland’s financial services provider SIX. Swiss Central Bank Tests Integration of Wholesale CBDC Settlement With Private Banks … Read more
