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“# IMF, World Bank and BIS champion central bank digital currencies at G20 ” In a joint report, the International Monetary Fund (IMF), the World Bank and the Bank of International Settlements (BIS) have proposed to the G20 that a cross-border network of central bank digital currencies (CBDC), underpinned by efficient technological integration and proactive international cooperation,…
“# China’s digital yuan deploys at speed, leaving dust in its path ” With each passing day, the list of nations actively exploring the idea of central bank digital currencies (CBDCs) is continuing to grow at a rapid pace. While China’s digital yuan project may be the one that everyone talks about the most, in…
“# France and Singapore pilot cross-border CBDC transactions ” Financial authorities in France and Singapore are actively exploring the cross-border applications of central bank digital currencies (CBDCs. In a joint announcement on Thursday, the Bank of France and the Monetary Authority of Singapore (MAS) said that they successfully completed a whole cross-border payment and settlement…
“# China’s central bank worried about stablecoins’ risk to financial systems ” The Chinese central bank is “quite worried” about the global financial risks associated with digital currencies, particularly stablecoins, according to a senior official. Fan Yifei, a deputy governor of the People’s Bank of China (PBoC), expressed concerns over the reportedly serious threat stablecoins…
“# New Zealand’s Reserve Bank consulting public on a potential CBDC ” The Reserve Bank of New Zealand says a central bank digital currency might be a “solution” to the ongoing reduction in the use of cash and that it will look more closely at the use of cryptocurrencies. The bank will open up public…
“# Bank of Jamaica to begin digital currency pilot in August ” Jamaica’s central bank will reportedly commence the initial roll-out of its central bank digital currency (CBDC) project in August. According to a report by the Jamaica Observer on Wednesday, Bank of Jamaica (BOJ) Governor Richard Byles made this known during a Rotary Club…
“# Chinese banks tell staff to recruit up to 300 new digital yuan users each ” Chinese banks have begun a hard sell of digital yuan wallets, asking staff to recruit hundreds of new users each year. According to a translation of a June 6 article from Shenlian Caijing, employees of top banks such as…
“# Report: Vietnam’s PM asks State Bank to trial digital currency on blockchain ” The State Bank of Vietnam is reportedly set to become the latest central bank to delve into explorations of the feasibility and operationally of central bank digital currencies (CBDCs). Its brief, distinct from some other countries, is to trial a digital…
“# Japan’s finance industry awaits clearer picture of digital yen in 2022 ” Japan will have more clarity on the design of its central bank digital currency no earlier than late 2022, according to a ruling party official. Hideki Murai, head of the ruling Liberal Democratic Party’s panel on digital currencies, said that the Bank…
“# UK chancellor names CBDC on list of financial reforms for Treasury ” Rishi Sunak, chancellor of the Exchequer for the United Kingdom, has included cryptocurrencies and stablecoins on the list of financial reforms the government plans to undertake in the next few years. Speaking to lawmakers at the Lord Mayor of London’s residence on…