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Fed Governor Questions Need for US Central Bank Digital Currency
18.10.2023
A top Federal Reserve official said Tuesday she has yet to be convinced there is a need for the U.S. central bank to develop a digital currency. Fed Governor Remains Unconvinced on U.S. CBDC, Cites Existing Innovations and Risks In a discourse at Harvard Law School, Fed Governor Michelle Bowman...
Feds’ Bowman Dampens Hope of a US-backed CBDC in the Future
18.10.2023
Federal Reserve Governor Michelle Bowman believed that implementing U.S. central bank digital currency (CBDC) could pose significant risks and tradeoffs for the country’s economic system.
The Fed’s Governor announced this at the Harvard Law School event in Washington on October 17.
Bowman...
Fed governor Bowman doubles down on CBDC skepticism, likes stablecoin no better
17.10.2023
Michelle Bowman told a university audience that financial innovation should be justified by need and be properly regulated
Fed Governor Bowman Says U.S. CBDC May Pose 'Significant Risk'
17.10.2023
Governor Michelle Bowman suggests other payments services, including FedNow, may do a CBDC's job better, and she's also suspicious of the dangers of stablecoins
Jim Rickards Blasts US Congress Confiscation Initiatives: ‘The Drive to Create New Currencies Will Go Into Overdrive’
17.10.2023
Renowned economist and best-selling author Jim Rickards has warned about the effects of a new U.S. congressional initiative that proposes confiscating Russian assets to reimburse itself for the aid given to Ukraine. Rickards believes that, if passed, this legislation will alert the international...
Australia open to idea of CBDC as future of money: RBA
16.10.2023
The RBA assistant governor in his speech noted that the pilot CBDC projects have highlighted several key areas where CBDCs could be of great use
Russian Business Titan Sber to Join Digital Ruble Pilot
16.10.2023
Russia’s Sber, the operator of Sberbank, says it will join the Central Bank’s digital ruble pilot, in a major coup for the nation’s CBDC.
Vedemosti reported that Sber’s influential CEO, the former Economy Minister Herman Gref, said his firm “will definitely” join a “second wave” of banks that will...
Dollar vs. Bitcoin Clash: Experts Flex Opposing Views; SBF Trial Update — Week in Review
15.10.2023
Berkshire Hathaway’s Charlie Munger says most crypto is going to zero, while a Jefferies analyst says bitcoin is actually set to thrive in the case of a dollar collapse. Meanwhile, American economist Jeffrey Sachs says central bank digital currencies (CBDCs) are the real money of the near...
India’s Central Bank RBI Launches CBDC Pilot in Call Money Market
14.10.2023
India’s central bank, the Reserve Bank of India (RBI), has initiated a pilot for a second use case of its wholesale central bank digital currency (CBDC), focusing on the call money market. The Indian central bank reportedly plans to expand its e-rupee testing to cover the entire wholesale...
Mastercard Demonstrates New Solution for CBDC Tokenization
14.10.2023
Mastercard says its new solution that enables central bank digital currencies (CBDCs) to be tokenized or wrapped onto different blockchains provides consumers with “a new option to participate in commerce across multiple blockchains with increased security and ease.” A Mastercard...
China Opens Digital Yuan Park in Shenzhen
14.10.2023
Shenzhen has become home to an industrial park established to promote China’s central bank digital currency (CBDC). Several financial companies are already settling there, the Chinese megacity announced while unveiling almost a dozen initiatives to boost the digital yuan use in the region. Shenzhen...
How CBDCs and stablecoins can coexist: FIS panel discussion
13.10.2023
Eetu Kuneinen argued against CBDCs as they are "centralized by nature," saying that certain dangers come with government control
China's FX Minister Suggests CBDC Programmability for Macroeconomic Management
13.10.2023
An official from China's foreign exchange regulatory body has suggested the potential use of "programmable features" within China's Central Bank-Backed Digital Currency (CBDC) to bolster the effectiveness of monetary policy tools.
China, alongside several other nations, is diligently working...
Mastercard Announces Successful Wrapped CBDC Trial in Partnership with Reserve Bank of Australia
13.10.2023
Mastercard has announced a successful demonstration of an innovative solution that enables the wrapping of Central Bank Digital Currencies (CBDCs) on various blockchain networks.
This solution emerged from a collaboration between Mastercard, Cuscal, and Mintable as part of a research project...
China opens industrial park for digital yuan CBDC development in Shenzhen
12.10.2023
The government is incentivizing new residents to come develop payment solutions, smart contracts, hard wallets and promotions for the digital yuan
Mastercard announces successful wrapped CBDC trial results
12.10.2023
The experiment demonstrated that CBDCs could be wrapped to purchase NFTs on blockchains such as Ethereum
Japanese Firms to Use Digital Currency for Clean Energy Certificate Settlements
12.10.2023
A consortium of Japanese firms is set to launch a yen-based digital currency, "DCJPY," by July 2024, that will be used in transaction and settlement of clean energy certificates.
Cryptocurrency exchange DeCurret revealed the issuance of a new digital currency today that will be used by various...
Bank of Ghana Launches Hackathon to Explore Various Use Cases of CBDC
12.10.2023
The Ghanaian central bank said it will be hosting a 12-week hackathon where participants are expected to explore the e-cedi’s nine different use cases. At the end of the hackathon, the central bank will hold a conference where individuals with outstanding solutions are recognized. Addressing...
Russia Could Use Digital Ruble to Evade SWIFT, Wants Foreign Banks to Use its CBDC
12.10.2023
Russia’s Central Bank thinks its digital ruble could let citizens pay abroad without making use of the SWIFT banking platform – and wants to let foreign banks use its CBDC.
Per the Russian IT-focused media outlet CNews, the Central Bank has drafted a bill that, if passed, would allow foreign banks...
Was Chainlink’s (LINK) 35% rally just a buy rumor, sell the news event?
11.10.2023
LINK outperformed most cryptocurrencies in September, but the recent correction raises questions on the sustainability of the bullish momentum