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” CBDCs threaten our future, so it’s time to take a stand “ If the development of blockchain technology was a financial revolution, central bank digital currencies (CBDCs) are the counter-revolution. Their development has intensified in 2023 across the globe, and it’s now more important than ever for the world to know what could lay…
” WeChat integrates digital yuan into its payment platform “ WeChat, China’s leading social networking and payment app, has added the country’s central bank digital currency (CBDC), to its payment services, according to reports in local media. The move aims to help broaden the appeal of the digital yuan. WeChat now supports the fast payment…
” BIS wraps exploration project on retail CBDC payment system “ The Bank for International Settlements, or BIS, has reported it has concluded a project exploring international retail and remittance payments use cases for central bank digital currencies, or CBDCs, with the central banks of Israel, Norway and Sweden. In a March 6 report, the…
” Iran completes pre-pilot phase of central bank digital currency “ Iran is moving forward with its central bank digital currency (CBDC) plans, completing preliminary research for the launch of a potential digital rial. The Central Bank of Iran (CBI) has successfully completed a pre-pilot phase in the development of Iran’s CBDC, according to an…
” Pakistan banks agree on blockchain-based KYC system development “ Pakistan Banks’ Association (PBA) — a group of 31 traditional banks operating in Pakistan — signed off on the development of a blockchain-based platform for Know Your Customer (KYC) initiatives. On March 2, PBA signed the project contract for developing Pakistan’s first blockchain-based national eKYC…
” India explores offline functionality of CBDCs: RBI executive director “ India’s recently launched in-house central bank digital currency (CBDC), the e-rupi, is now being tested for offline functionality, revealed Ajay Kumar Choudhary, Executive Director at the Reserve Bank of India (RBI). The RBI — India’s central bank and regulatory body — launched the wholesale segment…
” US Treasury-led CBDC Working Group looking at technical issues, national interest “ The United States Treasury Department is continuing to consider design decisions relating to the introduction of a central bank digital currency. Under Secretary for Domestic Finance Nellie Liang gave an audience at the Atlantic Council a rundown on March 1 of technical…
” Proposed South Dakota amendment to UCC would prohibit cryptocurrencies, but not CBDC “ Legislation has been introduced in the American state of South Dakota to amend the Uniform Commercial Code (UCC) to limit the definition of money to exclude cryptocurrencies. Central bank digital currencies (CBDC) would still be considered money under the proposed new…
” Hong Kong citizens not interested in digital yuan: Reports “ The Chinese government’s beloved project of central bank digital currency (CBDC) has not sparked much enthusiasm in the citizens of Hong Kong. In the first four days since the “digital yuan” (also known as “e-CNY”) hard wallets became accessible to the islanders, only 625…
” Australian central bank to launch ‘live pilot’ of CBDC in coming months “ Australia’s central bank is set to launch a “live pilot” of a Central Bank Digital Currency (CBDC) “in the coming months,” according to a joint statement from the Reserve Bank of Australia (RBA) and Digital Finance CRC (DFCRC), an Australian financial…