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“# Former Bank of Japan exec says Japan will need years to issue digital yen ” Hiromi Yamaoka, former head of the payment and settlement systems department at the Bank of Japan, said that the country will likely need several years before it can issue a central bank digital currency. In a Nov. 17 Reuters…
“# Central bank digital currencies are dead in the water ” Mark my words: Governments and central banks will never care about your wealth and your privacy as much as you do. That reality is exactly why central bank digital currencies are dead in the water already. They say if you can’t beat them, join…
“# Ukraine is prepared to lead Eastern Europe’s crypto space ” Ukraine is ranked as the world’s leader in the Global Crypto Adoption Index 2020, according to a research published by Chainalysis earlier this fall. Despite this, cryptocurrencies still remain a gray area in the economy. Since 2014, Ukrainian authorities have been trying to implement…
“# BIS head says physical cash still important, even if CBDCs take over ” As numerous countries across the board navigate their feelings on central bank digital currencies, or CBDCs, Benoît Cœuré of the Bank for International Settlements thinks physical cash will retain its importance. Heading up the BIS’ innovation wing, Cœuré formerly held a…
“# ‘Banks will have to adjust’ to crypto, says Bank of England leader ” Blockchain and digital assets offer folks the ability to store their own assets, possibly threatening the solutions banks offer. Making sure banks remain relevant is not on the to-do list of England’s central bank, however, according to the Bank of England’s…
“# Deutsche Bank: central bank digital currency will replace cash in long term ” Deutsche Bank, the largest banking institution in Germany, is confident that central bank digital currencies, or CBDCs, will replace cash in the future. The bank’s research arm, Deutsche Bank Research, published a new report on economic estimations and proposals to assist…
“# US central banker urges digital dollar development ” President of the Dallas Federal Reserve Robert Kaplan believes the US central bank should begin work on a digital currency immediately, a clear indicator that some policymakers view this as an urgent matter. Speaking Tuesday at a virtual conference hosted by Bloomberg, Kaplan reportedly said: “It…
“# Lebanon to launch digital currency in face of economic and financial turmoil ” Lebanon’s central bank plans to launch a new digital currency in 2021 as part of a broader effort to combat a parallel economic and financial crisis that has engulfed the country. Central bank governor Riad Salameh told a gathering of officials Monday…
“# US Fed economists are exploring the “intrinsic” value drivers of CBDCs ” The Federal Reserve has broadened its research on central bank digital currencies, or CBDCs, in a new review that was posted to its website Monday. In a report titled, “Central Bank Digital Currency: A Literature Review,” Fed economists Francesca Carapella and Jean…
“# CBDC revolution is coming in 3 years, says Bitcoin naysayer Roubini ” Nouriel Roubini, an award-winning economist and known skeptic of Bitcoin (BTC), is confident that central bank digital currencies, or CBDCs, are the future of money. According to Roubini, global CBDCs like the digital yuan are capable of replacing major financial services and cryptocurrencies…