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“# BIS joins France and Switzerland’s central banks on cross-border CBDC project ” The Bank of France and the Swiss National Bank are teaming up with the Bank for International Settlements’ Innovation Hub to test a wholesale central bank digital currency (CBDC) system dubbed “Project Jura.” According to a release by the Bank of France…
“# Elizabeth Warren compares ‘bogus’ crypto to ‘legitimate’ CBDCs in senate hearing ” Democratic Senator Elizabeth Warren did not mince words when it came to criticizing crypto, but seemed to consider a federally-backed digital currency as a possible solution to address problems around financial inclusion in the United States. At a Wednesday session of the…
“# Ghana gearing for central bank digital currency pilot ” The Bank of Ghana (BoG) is reportedly moving towards the introduction of a central bank digital currency (CBDC) experiment. Speaking during a news conference in Ghana’s capital, Accra, on Monday, Ernest Addison, governor of the country’s central bank revealed that the BoG was in the…
“# The CBDC promised land: As some governments falter, others press on ” With the crypto market turning up its pace of growth over the last year and a half, the idea behind central bank digital currencies (CBDCs) seems to have gained an increasing amount of traction among many governments and retail banking institutions. In…
“# ECB says digital euro may be needed to combat ‘artificial currencies’ ” The European Central Bank has warned that a CBDC or digital euro may be required to head off the spectre of “artificial currencies” dominating cross-border payments. In ECB’s annual review of the euro dubbed “The international role of the euro”, economists Massimo…
“# China to hand out $6.2M in new digital yuan trial in Beijing ” The Chinese government is launching another digital yuan lottery to stimulate its ongoing digital currency trials, this time in the capital of Beijing. The Beijing Local Financial Supervision and Administration officially announced Tuesday that the government will distribute 40 million digital…
“# Bitcoin’s rising popularity will lead to more regulation, says Riksbank ” Cryptocurrencies’ persistent growth and ever more mainstream adoption is keeping international monetary authorities on their toes. In fresh comments this week, Stefan Ingves, the Governor of Riksbank, Sweden’s central bank, said that digital assets’ rising popularity raises the stakes for regulators, central bankers…
“# Digital yuan conceived to counter Alipay-like platforms, says former PBoC executive ” China’s digital yuan will utilize smart contracts, and will be built to counter Alipay-like payment platforms designed by the privately owned conglomerates, former People’s Bank of China director Yao Qian said. Speaking at the International Finance Forum in Beijing, Qian argued that…
“# Sweden moving forward in e-krona CBDC trials ” Sweden has made a number of strides toward its own central bank digital currency, or CBDC, called the e-krona. The Sveriges Riksbank, the country’s central bank, now looks to experiment with the asset using a non-simulated party. As reported by Reuters, Riksbank detailed on Friday via…
“# OKex embraces Brazil’s official fast payments system PIX, as CBDC draws nearer ” Increasing numbers of offshore cryptocurrency exchanges are embracing Brazil’s instant payments infrastructure, PIX. On May 28, OKEx announced a strategic partnership with local payments firm CuboPay, allowing it to facilitate Tether ($USDT) purchases in exchange for Brazilian real via PIX. The…