The ‘godfather of crypto’ wants to create a privacy-focused CBDC: Here’s how
David Chaum explained his game plan to create a CBDC that would also be appreciated by the crypto ecosystem in an exclusive interview. Go to Source Powered by WPeMatico
Central Bank
Auto Added by WPeMatico
Report: Syrian Central Bank Devalues Local Currency by Nearly 50%
The Syrian central bank recently announced the nearly 50% devaluation of the Syrian pound’s exchange rate versus the greenback from 3,015 per dollar to 4,522 per dollar. The central bank also warned currency speculators that it will take steps to end activities that undermine the stability of the exchange rate. Currency Collapse Worsens the Plight … Read more
Top 3 Macroeconomic Events to Watch in 2023 Amid Volatile Market Conditions
2022 was a tough year for crypto assets, and as the world welcomes 2023, the macroeconomic backdrop remains uncertain. Macroeconomic events will continue to shape the crypto economy and the economy as a whole. This editorial takes a look at the top three macroeconomic events to keep an eye on in 2023. Examining the Top … Read more
Bill on Digital Ruble Submitted to Russian Parliament
A draft law devoted to the digital ruble has been filed with the State Duma, the lower house of Russian parliament. The legislation introduces rules determining how the new form of national fiat will be issued and amends a series of legal acts to facilitate its implementation. Bank of Russia to Be the Sole Operator … Read more
China’s Digital Yuan Little Used, Former Central Bank Official Says
Trials of the digital yuan have produced disappointing results, according to a report quoting the former head of research at the Chinese central bank. The new form of national fiat has brought no benefits to the banks and should expand beyond being employed only as a substitute for cash, the banker believes. Common People Used … Read more
Central Bank of Turkey Reports First Payment Transactions on Digital Lira Network
The Central Bank of the Republic of Turkey (CBRT) has conducted the first payment transactions on the test network of the digital lira. The monetary authority intends to proceed with more testing in 2023 and plans to invite banks and fintech companies to join the trials. Turkey to Widen Participation in Digital Lira Project, Focus … Read more
Russia to Ban Banks From Using Messengers Like Telegram to Contact Customers
Financial institutions in Russia will not be able to communicate with clients through instant messengers based outside the country, local media revealed. A new law passed by the State Duma also prohibits banks from using chats to send personal data and payment documents. Bill Restricts Russian Banks and Brokers From Sending Sensitive Information Through Foreign … Read more
ECB to Decide Whether to Issue Digital Euro in 2023
The European Central Bank (ECB) has published a new report on the progress of its investigation into the possible launch of a digital euro. The research will continue next year with the regulator planning to make a decision whether to proceed to the realization of the project in the fall of 2023. ECB to Develop … Read more
How crypto could be good for CBDC and vice versa: Industry exec explains
While some governments continue bashing crypto, some industry executives argue that crypto could be beneficial for CBDCs. Go to Source Powered by WPeMatico
Rate Hikes Needed to Reduce Eurozone Inflation Despite Recession, Top ECB Official Says
Interest rates will continue to rise while the euro area falls into recession, a high-ranking executive at the European Central Bank (ECB) has indicated. His statements follow the latest rate increase announced by the monetary authority last week and revised projections showing higher than previously expected inflation in Europe ahead. ‘We Have No Choice But … Read more