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A U.S. lawmaker has introduced a bill in Congress to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals. “It is important to note that the Fed does not, and should not, have the authority to offer retail bank accounts,” he stressed. Bill Introduced to Prohibit the Fed From … Read more
“We want to make sure that we do the requisite research on policy and technology so we’re in a position to move forward if Congress decides it’s important to be able to compete with China in this regard,” said Lael Brainard. Go to Source Powered by WPeMatico
The Swiss National Bank integrated wholesale CBDC in banking systems with five commercial banks as part of the second phase of Project Helvetia. Go to Source Powered by WPeMatico
A new report highlights private-sector innovation and greater financial inclusion with CBDCs, but raises concerns around the descending hegemony of the U.S. Dollar. Go to Source Powered by WPeMatico
Having the Fed require users to open accounts to access the benefits of a digital dollar would put it “on an insidious path akin to China’s digital authoritarianism,” according to Tom Emmer. Go to Source Powered by WPeMatico
The new wallet of China’s state-issued digital currency has quickly become one of the most downloaded applications in the country, within days of its launch. Its use and integration with other apps have contributed to an increase of digital yuan payments, media reports unveil. Wallet Launch Boosts Digital Yuan Ahead of Lunar New Year and … Read more
ETH’s futures markets are slightly bearish, but options traders appear to be interpreting the rally to $3,200 as a bottoming signal. Go to Source Powered by WPeMatico
The pilot version of China’s official digital yuan wallet app has become the most downloaded app in local mobile app stores. Go to Source Powered by WPeMatico
China’s social media giant, Wechat has said it will support the digital yuan in a move that is expected to increase the of Chinese residents that use the central bank’s digital currency (CBDC). Wechat’s support of the digital yuan potentially avails the digital currency to the social media’s 800 million active users. New App Provides … Read more
While WeChat isn’t as popular outside of China as WhatsApp, it is ubiquitous on the mainland. Go to Source Powered by WPeMatico
