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“# UK Treasury and central bank will consult on CBDC, potentially launching by 2030 ” The Bank of England and the U.K. finance ministry are planning to launch a consultation on the possible rollout of a central bank digital currency starting in 2022. In a Nov. 9 statement, the Bank of England said the digital…
“# Russia to change laws for digital ruble, while central bank mulls 2022 prototype ” On Tuesday, Elvira Nabiullina, governor of Russia’s central bank, said that the country will have a prototype of its digital rouble platform ready by early 2022 and will roll it out for trial use next year before making a final…
“# Retail-focused Singaporean CBDC to hedge against privately issued stablecoins ” The Monetary Authority of Singapore (MAS) has ramped up efforts to research and develop a central bank digital currency (CBDC) for retail use under the Project Orchid initiative. According to MAS managing director Ravi Menon, Singapore’s retail CBDC will be developed in a partnership…
“# Over 140 million people have digital yuan accounts, says PBoC head ” China’s trials with central bank digital currency (CBDC) show no signs of slowing down, as the updated numbers for October 2021 were revealed at Hong Kong Fintech Week. Set out to replace cash in day-to-day transactions, the digital yuan (e-CNY) is gaining…
“# eNaira slowly gains traction post-launch amid glitches ” The rollout of the world’s second central bank digital currency, or CBDC, is off to a rocky start. Last week, Nigeria rolled out its eNaira CBDC after the Bahamas became the first country in the world to launch one, known as The Sand Dollar, the year…
“# Mastercard is preparing its infrastructure for the deployment of CBDCs ” During an earnings call with investors and stakeholders, Michael Miebach, CEO of Mastercard, discussed his positive outlook on the cryptocurrency industry. The company has not only seen sizable volume growth in consumers using their Mastercards to purchase crypto but has also secured several…
“# Latin America stands to benefit most from crypto, says Uphold exec ” El Salvador’s Bitcoin (BTC) adoption has triggered a digital asset revolution in Latin America, and the region could benefit even more if people can exchange cryptocurrencies, fiat money and the upcoming central bank digital currencies (CBDC) on the same infrastructure, said the…
“# French central bank pilots blockchain-based CBDC for debt market ” The central bank of France continues actively exploring a central bank digital currency (CBDC), completing a significant trial of a blockchain-based CBDC in the country’s debt market. Over 500 institutions in France have participated in a 10-month experiment testing a CBDC issued by Banque…
“# Ghana to explore offline transactions for upcoming CBDC ” Ghana is working to develop offline capabilities for its forthcoming central bank digital currency (CBDC) in a bid to promote its use across all segments of Ghanan society. According to a Oct. 18 report from Bloomberg, Kwame Oppong, head of fintech and innovation at the…
“# Law Decoded: Best regulation is self-regulation, Oct. 11–18 ” Between fever-pitch anticipation over the impending approval of a Bitcoin exchange-traded fund, the Commodity Futures Trading Commission’s $42-million-plus settlement with Tether and Bitfinex, and Vladimir Putin brooding over cryptocurrency’s capacity to transfer value, this past week has been saturated with major policy news. While all the above…