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“# 95% of winners in China’s CBDC lottery spent digital yuan prizes ” The vast majority of China’s $1.5 million digital yuan lottery winners have received and spent their “red packets” of digital yuan. As of Oct. 18, a total of 47,573 out of 50,000 lottery winners in China have received their prizes, Shenzhen authorities…
“# Law Decoded: The rivalry between central banks and global stablecoins, Oct. 9–16 ” Editor’s note Blockchain technology has attracted regulatory attention since its inception. The security of the Bitcoin network despite the value of BTC in play has consistently proved the resilience of blockchain technology in maintaining records across a vast range of parties….
“# Five Russian banks express interest in piloting digital ruble ” A number of financial institutions in Russia have expressed interest in testing the country’s central bank digital currency, or CBDC. According to an Oct. 16 report by local news agency Izvestia, at least five Russian banks are interested in taking part in Russia’s non-public…
“# The Bahamas central bank wants to make its digital ‘Sand Dollar’ global ” The Central Bank of the Bahamas (CBOB) is planning to make its central bank digital currency project interoperable on the international level. Bobby Chen, CBOB assistant manager of electronic solutions, claimed that the Bahamas’ digital currency — dubbed the “Sand Dollar”…
“# Starbucks and McDonald’s reportedly not testing China’s digital yuan ” American fast-food giants like Starbucks and McDonald’s are reportedly not participating in China’s ongoing digital yuan tests. According to an Oct. 14 report by news agency Sina Finance, China’s central bank digital currency, or CBDC, is still being piloted on a “small scale,” primarily…
“# Unqualified investors can buy up to $8K of crypto, says Bank of Russia ” The central bank of Russia proposed to set limits on annual cryptocurrency investments by non-professional investors. The Bank of Russia suggested that unqualified investors in Russia should not be allowed to invest more than 600,000 Russian rubles ($7,800) in digital…
“# Reserve Bank of Australia still researching the CBDC it says it doesn’t need ” The Reserve Bank of Australia has revealed it’s continuing to research a central bank digital currency (CBDC) less than a month after stating that there was no need for one. The RBA also revealed it is considering the possibility of…
“# Bank of Russia issues consultation paper on digital ruble ” Russian financial authorities have confirmed the government’s purported plans to issue the central bank digital currency, or CBDC. On Oct. 13, the Bank of Russia released a consultation paper on the development of the digital Russian ruble. In the statement, the central bank said…
“# European Central Bank seeks public input on digital euro ” The European Central Bank launched a public consultation on a potential digital euro on Oct. 12. Developments on the central bank digital currency front in the Eurozone have picked up pace amid the COVID-19 pandemic, and the central bank has framed its introduction to…
“# Japan must amend central bank laws to issue digital yen, says official ” Japan needs to adapt its laws to issue a central bank digital currency, according to a local financial official. Kozo Yamamoto, head of the Liberal Democratic Party’s council on financial affairs and a former official at the Ministry of Finance, believes…