Hong Kong exploring CBDC as part of fintech strategy
A new study from Hong Kong regulators is expected to present initial thoughts and findings on CBDCs during the summer of 2022. Go to Source Powered by WPeMatico
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Venezuela Slashes Six Zeroes off Its Currency, Bolivar Keeps Losing Ground Against the Dollar
The Central Bank Of Venezuela applied the announced redenomination plan for the national fiat currency, the bolivar on October 1. This redenomination implied slashing six zeroes from the currency, to make payments and currency handling easier, according to earlier statements. However, just hours after applying this measure, the bolivar lost more than 20% of its … Read more
Laos to Study Digital Currency With Help From Japanese Fintech, Report Reveals
The central bank of Laos intends to explore issuing its own digital currency, according to a media report that provided details on the plan. A study on the matter will commence soon and will be conducted with the support of a fintech startup based in Japan. Central Bank of Laos Joins Race to Develop Digital … Read more
Money in 2030: A future where DeFi and CBDCs can work together
In coexistence with mutual benefits, decentralized finance and central bank digital currencies will finally make money universally available worldwide. Go to Source Powered by WPeMatico
Federal High Court of Nigeria approves eNaira CBDC rollout
eNaira will continue to circulate alongside its fiat counterpart, however, promising a faster, cheaper, and more secure option for monetary transactions. Go to Source Powered by WPeMatico
IMF recommends CBDC and global crypto standards for financial stability
The fresh policies recommended by the IMF aim to curb down the financial risks associated with global crypto adoption. Go to Source Powered by WPeMatico
Federal Reserve Chairman Powell Says No Intention to Ban or Limit Use of Cryptocurrencies
Federal Reserve Chairman Jerome Powell confirmed during a hearing before the House Financial Services Committee that he has no intention to ban or limit the use of cryptocurrencies. He also commented on the regulation of stablecoins. Powell Says ‘No Intention to Ban’ Crypto The chairman of the Board of Governors of the Federal Reserve System, … Read more
Nigeria CBDC Countdown: Central Bank Delays E-Naira Rollout
A spokesperson for the Central Bank of Nigeria (CBN), Osita Nwanisobi, has said the launch of the much-hyped e-naira central bank digital currency (CBDC) has now been postponed to a later date. Nwanisobi’s announcement came less than 24 hours before the CBN was scheduled to launch the digital currency. Launch Date Clashes With Nigeria’s Day … Read more
Brazil Stock Exchange wants to provide oracles for digital real
“We are looking at it and evaluating the best ways to interact and participate in this ecosystem,” a B3 exec said. Go to Source Powered by WPeMatico
Reserve Bank of New Zealand Seeks Public Opinion on Central Bank Digital Currency
The central bank of New Zealand has lined up among monetary authorities exploring the question of issuing their own digital currencies. The financial regulator is now seeking feedback from the public about the need for a digital form of the national fiat while also promising to preserve cash. New Zealand Central Bank Considers Risks and … Read more