Digital Money – DIGIT INFO

Hong Kong CBDC Pilot Enters Phase 2 With New Firms to Advance Digital Currency Use Cases

DIGIT — Thu, 26 Sep 2024 02:46:24 +0000

The Hong Kong Monetary Authority (HKMA) has moved into Phase 2 of its e-HKD pilot program, expanding its exploration into tokenized deposits and e-HKD. With 11 groups of firms selected, the initiative delves into practical applications such as offline payments and asset settlement. The creation of an industry forum aims to solve potential challenges while […]

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Thailand distributing digital money to 45M citizens to boost economy

DIGIT — Wed, 24 Jul 2024 16:11:48 +0000

The controversial plan began as a campaign promise and will help lower-income Thais buy more.

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Citi: Brazil Is at the Top of Digital Money Initiatives in Latam

DIGIT — Tue, 30 Apr 2024 05:38:22 +0000

A recent report by Citi, a global financial institution, has put Brazil at the top of the nations leading the digital money initiatives in Latin America. The report states that Brazil features a combination of factors that ease the adoption of digital money such as government support and digital payment solutions. Citi: Brazil Leads Advancements […]

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Digital Euro Association Partners With HBAR Foundation to Boost Understanding of CBDCs and Stablecoins

DIGIT — Wed, 28 Feb 2024 12:45:36 +0000

The Digital Euro Association (DEA) has entered into a partnership with the HBAR Foundation. This collaboration aims to bolster its comprehension of central bank digital currencies (CBDCs) and stablecoins. Although this partnership marks a significant milestone in the digital currency landscape it nevertheless does not amount to an endorsement of any ideologies or products. Enhancing […]

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Thailand delays digital money handout, critics call for probe

DIGIT — Mon, 23 Oct 2023 10:04:42 +0000

Thailand’s government has delayed the launch of a planned digital money program aimed at stimulating its economy, while opposition leaders call for a probe of the scheme.

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Stablecoins Cannot Function as Money Because They Have No ‘Assured Value’ — Bank of England Governor

DIGIT — Fri, 14 Apr 2023 14:00:29 +0000

Andrew Bailey, the governor of the Bank of England, has asserted that stablecoins “will need to have the characteristics of, and be regulated as, inside money” before they function as money. Bailey also described crypto as a “highly speculative investment” with no intrinsic value. Stablecoins Purport to Be Money According to the Bank of England […]

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Namibian Central Bank: Virtual Assets ‘Remain Without Legal Tender Status’ but Merchants Can Still Accept Them as Payment

DIGIT — Thu, 06 Oct 2022 06:00:14 +0000

The Bank of Namibia recently said it has brought virtual assets and virtual asset service providers under its fintech innovations regulatory framework, and that it plans to amend applicable laws and regulations. According to the central bank’s governor, there is an ongoing “battle between regulated and unregulated money on the one hand and sovereign versus […]

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Report: IMF Warns Kenyan Central Bank Against Introducing a CBDC That Harms Fintechs and Banks

DIGIT — Fri, 29 Jul 2022 11:30:45 +0000

The global lending institution, the International Monetary Fund (IMF) has told the Kenyan central bank that its proposed digital shilling must “do no harm” to existing private sector digital money. The lender insisted the proposed central bank digital currency (CBDC) must “not stifle such welcome digitalisation developments by taking away customers of banks and other […]

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UAE Charitable Foundation Receives Approval to Accept Crypto Donations

DIGIT — Sun, 05 Jun 2022 08:00:53 +0000

Al Jalila Foundation, the United Arab Emirates charitable organization, recently announced that it has been given permission to accept cryptocurrency donations. Accepting cryptocurrencies makes it possible for the foundation to receive funding via what is described as one of the fastest-growing donation methods. Accepting Crypto Expands Foundation’s Donation Channels A United Arab Emirates (UAE) healthcare […]

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Hong Kong Police Arrest Conman After He Vanished With Over $191K Belonging to a Crypto Trader

DIGIT — Fri, 13 May 2022 13:30:34 +0000

Hong Kong police have arrested a man accused of stealing $191,085 from a cryptocurrency trader in what turned out to be a bogus transaction. No funds were recovered at the time of the suspect’s arrest and investigations are ongoing to determine if the man had accomplices. No Funds Recovered Hong Kong police recently arrested a […]

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