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“# China’s central bank lays regulatory foundation for CBDC ” China’s central bank, the People’s Bank of China (PBOC), published a draft law this Friday that aims to provide regulatory framework and legitimacy for a forthcoming central bank digital currency (CBDC), the digital yuan. The draft law states that the yuan is the official currency…
“# Digital ruble must ensure privacy, not anonymity: Russia’s central bank ” Elvira Nabiullina, the head of the Bank of Russia, argued that there is a line between anonymity and privacy regarding the circulation of an upcoming digital ruble. Speaking at a press conference on Oct. 23, Nabiullina said that Russia’s digital ruble will not…
“# Russia doesn’t need to be first with a digital currency, says state expert ” A Russian official argued that the country should have launched research on a central bank digital currency four years ago in order to claim leadership in the field. However, according to Dmitry Peskov, a special representative of the President of…
“# ‘The cryptoruble is the future’ says Russian policymaker ” Anatoly Aksakov, the head of the Russian parliament’s Financial Markets committee, had some good news for blockchain fans in Russia. According to Aksakov, there are “no anti-blockchain voices” in the government and he believes that a digital ruble pilot will start in 2021. During a…
“# Philippines’ central bank isn’t ready to pull the trigger on a CBDC ” Philippine central bank governor Benjamin Diokno has announced that the institution’s “exploratory” study of central bank digital currency study suggests that much more work is needed to make a digital peso a reality. During the summer, Bangko Sentral ng Pilipinas had…
“# Central bank digital currency could ‘threaten’ Bitcoin says CZ ” Changpeng Zhao, the enigmatic chief executive of Binance, believes a central bank digital currency that’s designed well enough could become a threat to Bitcoin. In a video interview with Fortune senior writer Jeff Roberts, he was asked how the People’s Bank of China’s digital…
“# CBDC as a store of value threatens financial system, says German official ” Burkhard Balz, a German politician and executive board member of the country’s central bank, said in a speech on Oct. 20 that it was crucial to build tools to restrict how the digital euro is used upon launch. Balz emphasized that…
“# The Bahamas launches world’s first CBDC, the ‘Sand Dollar’ ” The Central Bank of the Bahamas has announced the country’s “Sand Dollar” — a state-backed virtual currency — is now available nationwide. According to an Oct. 20 Facebook post from Project Sand Dollar, the central bank digital currency (CBDC) became available to all 393,000…
“# Pomp says US digital dollar needs to happen now ” Recent comments from Jerome Powell, the chairman of the U.S. Federal Reserve, show the American government is not especially concerned with speed when it comes to developing a central bank digital currency, or CBDC. In contrast, Morgan Creek Digital co-founder Anthony Pompliano argues that time…
“# New Zealand has no imminent plans to issue CBDC, says central bank exec ” Financial authorities in New Zealand are in no hurry to issue a central bank digital currency, or CBDC, according to a central bank executive. Christian Hawkesby, assistant governor at the Reserve Bank of New Zealand, claimed that the country has…