central bank digital currency – Page 3

The world could be facing a dark future thanks to CBDCs

From forcing people to spend their money to making them save it, central banks around the world could soon use CBDCs to create a dystopian nightmare.

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US Senator Introduces Bill to Ban Direct-to-Consumer Central Bank Digital Currency

US Senator Introduces Bill to Prohibit the Fed From Developing Direct-to-Consumer Central Bank Digital Currency

U.S. Senator Ted Cruz has introduced “legislation to prohibit the Federal Reserve from developing a direct-to-consumer” central bank digital currency (CBDC). The lawmaker warned that it “could be used as a financial surveillance tool by the federal government.” Another senator stressed: “The American people ought to be able to spend their money how they choose […]

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Republican Congressman Tom Emmer Queries FDIC on Alleged Efforts to Purge Crypto Activity from US

On Wednesday, Tom Emmer, the U.S. Republican congressman from Minnesota, revealed he sent a letter to Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation (FDIC), regarding reports that the FDIC is “weaponizing recent instability” in the U.S. banking industry to “purge legal crypto activity” from the United States. Specifically, Emmer asked Gruenberg if […]

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Central Bank Digital Currency Transactions to Reach $213 Billion Annually by 2030, Research Shows

A new study shows that payments via central bank digital currencies (CBDCs) are expected to reach $213 billion annually by 2030. Furthermore, 92% of the total value transacted via CBDCs will be paid domestically, the research found. $213 Billion Annually Research and market intelligence firm Juniper Research published a report on central bank digital currencies […]

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BIS Releases Report On ‘Project Icebreaker’ — Develops Cross-Border Retail CBDC Payment Model

The Bank for International Settlements (BIS) has released a report summarizing the “Project Icebreaker” trial, which explored the potential advantages and difficulties of utilizing a retail central bank digital currency (CBDC) in cross-border payments. The experiment was designed to test “the technical feasibility of conducting cross-border – cross-currency transactions between different [distrubuted ledger technology]-based CBDC […]

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India’s Central Bank Digital Currency Will Act as Alternative to Cryptocurrency, Says RBI Official

An official of India’s central bank, the Reserve Bank of India (RBI), says that the country’s central bank digital currency (CBDC) will act as an alternative to cryptocurrency. He stressed that the digital rupee must possess all the attributes of physical currency, including anonymity. India’s CBDC Update Reserve Bank of India (RBI) Executive Director Ajay […]

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United States CBDC would ‘crowd out’ crypto ecosystem: Ex-Biden adviser

Daleep Singh argues that crowding out cryptocurrencies by establishing a CBDC in the United States would protect the country’s national interests.

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Nigerian Central Bank Seeks New CBDC Tech Partner — Bank Urged to Improve E-Naira User Experience

More than a year after it launched its central bank digital currency with partner Bitt Inc, the Central Bank of Nigeria is reportedly seeking a new technology partner. The new partner is expected to help the central bank implement a system which gives it greater control of the digital currency. One expert said the central […]

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Bank of Japan to Launch Digital Yen CBDC Pilot Later This Year

The Bank of Japan is preparing to launch a pilot test for a digital yen, its central bank digital currency (CBDC), later this year. Shinichi Uchida, executive director of the Bank of Japan, explained that the goals of this new pilot are to test the technical feasibility of the currency and to include private businesses […]

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Central Bank of Brazil President States Digital Real Pilot Is Imminent

The president of the Central Bank of Brazil, Roberto Campos Neto, has clarified the status of the development of the Brazilian central bank digital currency (CBDC), the digital real. Campos Neto stated that the pilot test will start now and that banks will have to digitize more of their balances in the future. Pilot Tests […]

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