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The U.S. Treasury Secretary Janet Yellen says that she has not made up her mind about whether the Fed should issue a central bank digital currency (CBDC). “There are some benefits” to a digital dollar, Yellen said, but noted that “there are also meaningful costs.” Janet Yellen Has Not Decided Whether the Fed Should Develop … Read more
Such a move would require broad consensus among Congress, the U.S. central bank and the White House. Go to Source Powered by WPeMatico
The adoption of blockchain technology and the use of cryptocurrencies by people in Africa surged to unprecedented levels in 2020. While many have attributed this to Covid-19, blockchain advocates believe their work is partly the reason many are turning to digital currencies. Importance of Education Starting in the first quarter of 2020, the adoption of … Read more
Bank Indonesia, the country’s central bank, is reportedly considering issuing a central bank digital currency (CBDC) to fight the use of cryptocurrency. “A CBDC would be one of the tools to fight crypto. We assume that people would find CBDC more credible than crypto,” said an assistant governor of the central bank. Central Bank Sees … Read more
“CBDC would be part of an effort to address the use of crypto in financial transactions,” Bank of Indonesia’s assistant governor Juda Agung said. Go to Source Powered by WPeMatico
The Central Bank of Nigeria has said it wants players in the country’s payment industry to develop and help introduce products based on its central bank digital currency, the e-naira. Central Bank Open to Suggestions In its bid to deepen the adoption of the e-naira, the Central Bank of Nigeria (CBN) has asked payment service … Read more
Florens Luoga, the governor of the Bank of Tanzania, said the apex bank has kickstarted preparations for a central bank digital currency. He said the bank was doing this to ensure Tanzania is not left behind as other countries adopt digital currencies. Keeping Abreast With Developments on the Continent The Bank of Tanzania (BOT) has … Read more
The central bank has “already begun preparations” for a digital shilling, according to Bank of Tanzania Governor Florens Luoga. Go to Source Powered by WPeMatico
The Bank of England promotes CBDCs as a “revolution of money,” while Brits are not really willing to use it. Go to Source Powered by WPeMatico
Private-sector behemoths in Japan are exploring digital currencies as a way to streamline large fund transfers and settlements. Go to Source Powered by WPeMatico
