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Russia Gov’t Wants to Use Its CBDC for Tax Collection, Paying Benefits
20.10.2023
Russia’s government intends to use the digital ruble to make welfare payments, and wants citizens to use the CBDC to pay their taxes.
Per Finam, the Central Bank and the Ministry of Finance say they are “exploring the possibility of using the digital ruble for government payments,” and want...
Finland works on instant payments system, embraces digital euro
19.10.2023
The Bank of Finland actively promotes the development of new forms of payment
Digital Euro Enters ‘Preparation Phase’ — ECB Says ‘Digital Euro Would Make Data Protection a Priority’
19.10.2023
The European Central Bank (ECB) has decided to move its digital euro project to the next phase after two years of investigation. The “preparation phase” of the digital euro will involve “finalizing the digital euro rulebook and selecting providers that could develop a digital euro platform...
ECB officials move to 'preparation phase' for digital euro
18.10.2023
Though the issuance of a digital euro is not a certainty, officials with the European Central Bank are moving to next phase of the project
EU Privacy Watchdog Takes Aim at ‘Excessive Centralization’ of Digital Euro
18.10.2023
The central bank digital currency has met significant opposition from lawmakers worried over excessive state snooping
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