‘No Plan to Issue CBDC’ — Bank of Japan Governor

Haruhiko Kuroda, the governor of the Bank of Japan (BOJ), has said the bank is currently not planning to launch a digital currency. The remarks come just a few days after the BOJ announced the commencement of the second phase of central bank digital currency experiments. Role of CBDC in People’s Lives The governor of […]

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Fed Governor Says ‘Blockchain Is Totally Overrated,’ Claims Crypto Is ‘Just Electronic Gold’

Fed Governor Says 'Blockchain Is Totally Overrated,' Claims Crypto Is 'Just Electronic Gold'The American economist and member of the Federal Reserve Board of Governors, Christopher Waller, believes blockchain technology is “totally overrated,” even though the U.S. central bank “put a lot of resources into understanding digital currencies and the blockchain.” On Friday, Waller spoke during a panel that discussed central bank digital currencies (CBDCs) and said that […]

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US Senator: China’s Digital Currency Could Subvert US Sanctions, Enhance Surveillance Capabilities

US Senator: China's Digital Currency Could Subvert US Sanctions, Enhance Surveillance CapabilitiesA U.S. senator has warned about China’s central bank digital currency. “Analysts have raised the eCNY’s potential to subvert U.S. sanctions, facilitate illicit money flows, enhance China’s surveillance capabilities, and provide Beijing with ‘first mover’ advantages,” the senator informed Treasury Secretary Janet Yellen. U.S. Senator Warns About the Threat From China’s Central Bank Digital Currency […]

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Federal Reserve Bank of Boston and MIT Release Central Bank Digital Currency Research and Open-Source Code

Federal Reserve Bank of Boston and MIT Release Central Bank Digital Currency Research and Open-Source CodeThe Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT) have jointly published the initial findings of their central bank digital currency (CBDC) research. They also published the open-source code for the CBDC project. Boston Fed and MIT Publish Initial Findings of Their CBDC Research The Federal Reserve Bank of Boston and […]

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India’s Prime Minister Modi: Digital Rupee Will Strengthen Digital Economy, Revolutionize Fintech

India's Prime Minister Modi: Digital Rupee Will Strengthen Digital Economy, Revolutionize FintechIndia’s prime minister, Narendra Modi, says an Indian central bank digital currency will strengthen the digital economy. The digital rupee will also revolutionize the fintech sector by creating new opportunities and lessening the burden of handling, printing, and the logistics of cash management, the prime minister reportedly explained. India’s Prime Minister Modi Sees Benefits of […]

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India Announces Upcoming Launch of Central Bank Digital Currency, Digital Rupee, to Be Issued by RBI

India Announces Upcoming Launch of Central Bank Digital Currency, Digital Rupee, to Be Issued by RBIThe Indian government has announced the upcoming launch of the country’s central bank digital currency. The digital rupee will be issued by the Reserve Bank of India (RBI) in the financial year 2022-23, Indian Finance Minister Nirmala Sitharaman said during her budget speech. RBI’s Digital Currency, the Digital Rupee, Coming Soon India’s finance minister, Nirmala […]

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US Lawmaker Launches Bill to Prohibit the Fed From Issuing Digital Currency Directly to Individuals

US Lawmaker Launches Bill to Prohibit the Fed From Issuing Digital Currency Directly to IndividualsA 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 […]

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China’s Digital Yuan Wallet App Now in iOS and Android App Stores

China’s Digital Yuan Wallet App Now in iOS and Android App StoresChina’s central bank has released its digital currency wallet app ahead of the Winter Olympics. The wallet app for the digital yuan, also known as e-CNY, can now be downloaded from the iOS and Android app stores in the country. Digital Yuan Wallet App Now Downloadable From iOS and Android App Stores China’s central bank, […]

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

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

GCHQThe 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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