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“# Top Chinese banks promote CBDC over local payment firms for shopping festival ” Some of China’s largest state banks are actively promoting the digital yuan as a superior means of payment to the country’s two leading payment providers, Alipay and WeChat Pay. In an April 26 report, Reuters revealed that six of China’s largest banks…
“# Decentralization is the final frontier for CBDCs ” As central bank digital currencies, or CBDCs, continue to garner mainstream traction across the global financial landscape in recent years, almost all central banks are actively researching the benefits and risks of offering a digital currency to the public. In its most basic sense, a CBDC…
“# Asia-Pacific’s solarized digitalization agenda in pandemic times ” The virtual 7th Asia-Pacific Climate Change Adaptation Forum was jointly hosted by the Ministry of the Environment of Japan and the Asia Pacific Adaptation Network with the theme “Enabling Resilience for All: The Critical Decade to Scale-up Action.” The forum took place in March and was…
“# Norway to start digital currency tests after four years of research ” The Norwegian central bank, Norges Bank, is set to test various technical solutions for a central bank digital currency following years of research. Norges Bank officially announced Friday that it will be conducting CBDC tests over the next two years upon recommendations…
“# China’s digital yuan could be a fatal blow for Macau casino junkets ” Beijing’s bid to better control money laundering and illicit transactions through a fully-traceable central bank digital currency could pose a threat to the country’s popular gambling hub Macau. A hotspot for tourists — of which 70% come from mainland China — the…
“# Expert explains why Britain needs a digital pound ” The United Kingdom Chancellor of the Exchequer announced the launch of a CBDC task force this week, bringing together the Bank of England and Her Majesty’s Treasury to coordinate the exploration of a potential central bank digital currency. Depending on the feedback received from various areas…
“# Bahamas ranked first for retail CBDC development, according to PwC ” A new ranking of global central bank digital currencies, or CBDCs, places the Bahamas at the top of the leaderboard in terms of retail applications – offering an important glimpse in the race to issue government-backed cryptocurrencies. In its 2021 CBDC Index, global…
“# China aims to let foreigners use digital yuan at Winter Olympics in 2022 ” China’s central bank is looking to enable foreign athletes and visitors to use the country’s digital currency during the Beijing Winter Olympics in 2022, according to a top central bank official. Li Bo, deputy governor of the People’s Bank of…
“# UK government establishes central bank digital currency task force ” Her Majesty’s Treasury and the Bank of England have begun preliminary central bank digital currency studies that could result in the creation of a national digital currency. In a document published by HM Treasury, the exchequer announced the creation of a CBDC taskforce in…
“# China is studying crypto as an investment tool, says PBoC deputy governor ” Li Bo, recently appointed deputy governor of the People’s Bank of China, or PBoC, reportedly spoke on the benefits of crypto as an investment tool while highlighting regulatory uncertainty in the country surrounding digital assets. According to Chinese journalist Colin Wu,…