central bank digital currency – Page 10

India’s Central Bank RBI Discusses Digital Currency and CBDC Launch With Minimal Impact on Monetary Policy

India’s central bank, the Reserve Bank of India (RBI), says a basic central bank digital currency (CBDC) model must be adopted initially and tested comprehensively to minimize the impact on the country’s monetary policy and banking system. The Indian apex bank sees several benefits in launching a digital rupee, including “a potential to enhance the […]

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UK Intelligence Chief Raises Concerns About Use of Digital Renminbi to Control Global Transactions

The chief of the Government Communications Headquarters (GCHQ), one of the big three intelligence agencies in the U.K., has raised concerns regarding China and its digital renminbi. Sir Jeremy Fleming stated that the already existent Chinese CBDC could be used to collect information from users and, hypothetically, to control and filter global transactions. UK Worried […]

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Federal Reserve Governors Don’t See Reason to Issue Central Bank Digital Currency

At least three Federal Reserve governors have said that they do not see a reason for the Fed to issue a central bank digital currency (CBDC). The Fed is currently putting together a report on a digital dollar to be released in the near future. Fed Governors Doubt Need for Digital Dollar Federal Reserve Governor […]

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China’s Digital Currency Used in Transactions Worth $10 Billion, 140 Million People Have Digital Yuan Wallets

China's Digital Currency Used in $10 Billion Transactions, 140 Million People Have Digital Yuan Wallets

China’s central bank digital currency (CBDC), the digital yuan, has been used in transactions worth nearly $10 billion, according to an official with the Chinese central bank, the People’s Bank of China (PBOC). In addition, the government digital wallet has been downloaded by about 140 million people. Digital Yuan’s Adoption Rises, Nearly $10 Billion Transacted […]

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Digital Pound Foundation launches to promote CBDC development in the UK

The think tank wants to ensure the United Kingdom keeps pace with the developments in the emerging digital landscape.

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Edward Snowden Calls CBDCs ‘Cryptofascist Currency’ — ‘Closer to Being a Perversion of Cryptocurrency’

On October 9, whistleblower and privacy advocate Edward Snowden published an opinion editorial concerning central bank digital currencies (CBDCs) and claimed CBDCs are “the newest danger cresting the public horizon.” Snowden stressed that rather than being an innovation, CBDC’s are “closer to being a perversion of cryptocurrency” and a “cryptofascist currency.” Snowden Stresses CBDCs ‘Are […]

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Laos partners with Soramitsu on CBDC research as regulated crypto mining begins

Soramitsu, the firm that helped build Cambodia’s Bakong digital payments system, will work with the Laos government to research what a Laotian CBDC might look like.

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CBDCs could cut cross border remittance costs by half: BIS report

The BIS report based on a multi-CBDC pilot also showed significant improvements in international remittance speed.

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BIS Asks Central Banks to Urgently Develop CBDCs to Compete With Crypto Assets

BIS Asks Central Banks to Urgently Develop CBDCs to Avoid Falling Behind Cryptocurrencies

The head of the Bank of International Settlements (BIS) Innovation Hub, Benoît Cœuré, has urged central banks to act now on central bank digital currencies (CBDCs) to compete with initiatives in the private sector, including cryptocurrencies. “CBDCs will take years to be rolled out, while … crypto assets are already here,” he said. BIS Says […]

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ECB Officially Starts to Investigate Digital Euro — Development Could Begin in 2 Years

The European Central Bank (ECB) says it is “starting to investigate” a digital euro by launching a two-year investigation. ECB President Christine Lagarde believes the ECB should be ready to respond to people’s demands for digital currencies and come up with a European-based solution that “does not jeopardize the whole banking system.” Lagarde Unveils ECB’s […]

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