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“# Digital dollar needs broad consensus among authorities, says US Treasury Secretary ” U.S. Treasury Secretary Janet Yellen has given her opinions on the potential of a digital dollar but is hesitant to come to any conclusions at this stage in proceedings. Yellen said on Thursday that she had not formed a view on whether…
“# Cabinet note suggests India will regulate, rather than ban, crypto ” According to reports from local media, the Indian government will not move for an outright ban on crypto and will instead regulate the sector. On Nov. 23, Cointelegraph reported that the Indian government was considering a bill proposing the creation of an official…
“# CBDC is a tool to combat Bitcoin, says Bank of Indonesia exec ” Central bank digital currencies (CBDC), digital versions of national currencies introduced in response to growing cryptocurrency adoption, would be an essential tool for combating crypto, according to the Bank of Indonesia. The central bank of Indonesia is considering launching a digital…
“# Tanzania reportedly makes plans to launch CBDC ” The Bank of Tanzania is reportedly planning to introduce a central bank digital currency, or CBDC, for the African nation after neighboring countries announced similar initiatives. According to a Friday Bloomberg report, Bank of Tanzania Governor Florens Luoga said on Thursday that Tanzania was planning to…
“# Bitcoin too volatile to be adopted as legal tender, says BoE chief ” Bank of England governor Andrew Bailey has expressed concerns over El Salvador’s adoption of Bitcoin (BTC) as legal tender after President Nayib Bukele announced the launch of Bitcoin City. Bailey argued that El Salvador’s decision to adopt Bitcoin as a currency…
“# Japanese megabanks join consortium launching yen-based digital currency ” A consortium of roughly 70 Japanese companies, including the country’s biggest financial institutions, have joined forces to trial and launch a new yen-based digital currency in fiscal 2022, sending a strong signal that the private sector was embracing blockchain-based payment systems. The new digital currency,…
“# Palau partners with Ripple on climate friendly national digital currency ” Ripple, the digital payment network, has partnered with the Republic of Palau to help the Pacific island nation develop its own digital currency. The initial focus of the partnership will see the development of a USD-backed digital currency to help facilitate cross-border payments…
“# US Senator Pat Toomey supports digital dollar, nomination of Powell as Fed chair ” Pennsylvania Senator Pat Toomey, one of the lawmakers who supported amending the language around crypto in the recently passed infrastructure law, said the United States should lead the world in the adoption of a central bank digital currency, or CBDC….
“# Bank of England sees CBDCs as a revolution for the future of money ” In an event streamed live on Wednesday, Bank of England governor Andrew Bailey and deputy governor for financial stability Sir Jon Cunliffe answered questions from lawmakers from the Economic Affairs Committee. When asked about the growth of innovation surrounding digital currencies…
“# WEF releases resource suite for CBDCs and stablecoins aimed at regulators and businesses leaders ” The World Economic Forum, or WEF, has published a resource suite aimed at informing lawmakers and individuals in the private sector about digital assets including central bank digital currencies and stablecoins. On Nov. 19, the WEF announced its Digital…