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“# 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…
“# 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…
“# 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…
“# BlockShow returns as partner to Singapore central bank’s fintech event ” BlockShow, one of the largest blockchain events in the blockchain and crypto industry, will curate discussions around blockchain and cryptocurrency for a five-day online event hosted by the Monetary Authority of Singapore. The event runs from Dec. 7–12 and the attendees will have…
“# 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…
“# Brazil is prepping an IPO for its state-run digital bank ” Brazil’s Minister of Economy, Paulo Guedes, said during an online event this Tuesday that Brazil “is about to” join the Organization for Economic Cooperation and Development (OECD) and that the Brazilian government has plans to launch a public offering of shares (IPO) for…
“# 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…
“# Japanese messaging giant LINE developing CBDC platform ” LINE, a Tokyo-based subsidiary of the South Korean internet search engine company Naver, is building a platform for developing central bank digital currencies, South Korean news agency The Chosun Ilbo reported on Oct. 19. Sources familiar with the matter reportedly told The Chosun that LINE aims…
“# Private Vs. State-run digital currencies: which could replace the dollar? ” According to David Birch, fintech guru and author of “The Currency Cold War”, if the U.S. doesn’t ramp up its efforts in the digital currency race, the global dominance of the dollar might soon be under threat. Such a scenario could find central…
“# Better to get it right than to be first with CBDC, says US Fed chair ” The United States will not be issuing a digital dollar until the Federal Reserve resolves all questions around a potential central bank digital currency, or CBDC, according to the Fed’s chairman, Jerome Powell. Powell claimed that he is…