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“# Digital currencies won’t impact US sanctions, Treasury exec says ” Central bank digital currencies (CBDC) like Russia’s digital ruble do not pose any threat to United States sanctions, according to U.S. Deputy Treasury Secretary Wally Adeyemo. In a CNBC interview on Wednesday, Adeyemo argued that the U.S. dollar “will remain the dominant currency in…
“# Bank of Russia plans to take fees for CBDC transactions: Report ” The Russian central bank continues to disclose more details about its upcoming digital currency and is now reportedly planning to take commissions for the digital ruble transactions. The fees for Russia’s central bank digital currency (CBDC) transactions will be lower than those…
“# U.S. is not moving fast enough to develop a CBDC, says former CFTC chair ” Tim Massad, who served as chair of the Commodity Futures Trading Commission until 2017, said the United States is too slow in developing a plan to modernize its payment systems. In a Wednesday hearing of the Joint Economic Committee…
“# Digital ruble should not affect inflation, Bank of Russia says ” The Bank of Russia will only fully adopt a central bank digital currency (CBDC) if the digital ruble meets several conditions within pilot tests, governor Elvira Nabiullina said. Nabiullina spoke of the digital ruble before the State Duma Committee on Financial Markets on…
“# Crypto poses imminent threat to financial stability: Bank of England Deputy Governor ” Sir Jon Cunliffe, the Deputy Governor for Financial Stability at the Bank of England (BoE) crypto may pose an imminent threat to the traditional financial system. During a Nov. 15 interview with the BBC’s “Today” program, Cunliffe argued that the rapid…
“# Law Decoded: Crypto cities, investor protection nation, Nov. 8–15 ” As the U.S. federal government — acting through its Securities and Exchange Commission — continues to valiantly protect investors and the public interest from the grave dangers of a spot Bitcoin exchange-traded fund, one major American city after another begin embracing or at least…
“# The stablecoin boom won’t continue without decentralized interoperability ” Stablecoins are the cornerstone of the digital asset marketplace with a market cap of over $100 billion. Governments are already putting considerable resources in being up to speed with the trends. A November 2021 report published by the United States President’s Working Group on Financial…
“# Chinese retail giant JD accepts digital yuan payments for Singles Day ” E-commerce giant JD.com took payments in China’s central bank digital currency (CBDC) at a massive local shopping event. JD.com accepted digital yuan (e-CNY) for payment on its e-commerce application for the Singles Day promotion period which began on Oct. 31 and ended…
“# Zimbabwe minister signals CBDC interest amid Bitcoin adoption rumors ” Zimbabwe’s Minister of Information publicly dismissed ongoing rumors about the country considering the adoption of cryptocurrencies and Bitcoin (BTC). Rather, Minister Monica Mutsvangwa clarified that the government of Zimbabwe is keen to experiment with a central banking digital currency (CBDC). The rumor about Zimbabwe’s…
“# PBoC governor says digital yuan to be more privacy-enhanced than payment apps ” During a virtual video session at the Bank of Finland Institute for Emerging Economies’ 30th Anniversary Conference, People’s Bank of China governor Gang Yi discussed recent developments regarding the country’s central bank digital currency, or CBDC, known as the digital yuan…