Digital Euro Launch Faces Two-Year Delay Over Privacy Concerns, Says ECB President Christine Lagarde
European Central Bank (ECB) President Christine Lagarde has stated that it may take at least two years to fully launch the digital euro due to privacy concerns that need to be addressed. During a meeting with the European Parliament's economic committee, Lagarde discussed the challenges associated w ...
Title: “Competitive Enterprise Institute Supports Anti-CBDC Bill in U.S. Congress
A Washington, D.C.-based think tank, the Competitive Enterprise Institute (CEI), is backing an anti-CBDC (Central Bank Digital Currency) bill in the U.S. Congress. The CEI is advocating for legislation that would prevent the Federal Reserve from issuing or overseeing the development of a CBDC. The b ...
China’s Digital Yuan Expansion into ASEAN: CBDC Cross-Border Move Imminent
China is gearing up to introduce its digital yuan to the ASEAN nations, with plans to explore "cross-regional use" of its Central Bank Digital Currency (CBDC) within the bloc. While some ASEAN members have close political ties to China, others maintain stronger connections with Washington. Cities li ...
CBDCs seen offering faster settlements by 87% global securities firms: Citi survey
Discussions around ways to shorten local settlement cycles within the next five years have got most securities firms eyeing local central bank digital currencies (CBDCs). CitiBank’s latest edition of the Securities Services Evolution whitepaper highlighted India’s recent move to T+1 settlements, ...
Australia’s Central Bank Concludes CBDC Pilot, Identifies Key Use Cases
Australia’s central bank has completed its pilot of a central bank digital currency exploring use cases for a potential digital dollar, finding it useful in four main areas, including enabling complex payments and asset tokenization. The Reserve Bank of Australia and the Digital Finance Coope ...
European Central Bank Supports Research on Central Bank Digital Currency (CBDC)
European Central Bank (ECB) governor Fabio Panetta commented on the growing need, benefits and security of central bank digital currency (CBDC). European Central Bank (ECB) board member Fabio Panetta said the European regulator fully supports research into the digital e ...
Jamaican Government Develops National E-commerce Platform for Digital Jamaican Dollar
The Jamaican government is developing a special platform where locals and merchants can use the digital Jamaican dollar. The national e-commerce platform will allow users to pay for goods and services using the central bank's digital currency, JAM-DEX. A task force was ...
Jordan Peterson Advocates Bitcoin as an Alternative to Central Bank Digital Currencies
Canadian psychologist Jordan Peterson called BTC the only alternative to money in a world dominated by central bank digital currencies and suggested storing IQ test information in a Bitcoin blockchain. Jordan Peterson, a well-known Canadian psychologist and political comm ...
Texas Introduces Bill to Ban CBDC as Florida Becomes First State to Prohibit Digital Dollar
They oppose the use of CBDC in the state Florida The Texas legislature has introduced a bill to ban central bank digital currency (CBDC). The text states that: "Retail CBDCs establish a direct link between the Fed and consu ...
Florida Governor DeSantis Threatens to Ban Central Bank Digital Currency in the State
Florida Governor Ron DeSantis said that if the U.S. Federal Reserve (Fed) launched its own digital currency, it would be banned in Florida. During a recent speech in Jacksonville, Governor Ron DeSantis again called for a ban on central bank digital currencies. He signe ...
South Korea Introduces Strict Rules and Penalties for Cryptocurrency Market
Final work could be completed this year The country is introducing a set of rules and penalties for market participants South Korea's National Assembly has held its first round of reviews of digital asset legislation. This is a package of rules that regulates ...
IMF’s Digital Currency Authority to Launch UMU for Cross-Border Settlements
The International Monetary Fund's Digital Currency Monetary Authority (DCMA) recently announced the forthcoming launch of the Unicion Universal Currency Unit (UMU). A digital currency that will be accepted as legal tender for cross-border settlements. UMU will be recognized by all settlement p ...
Japanese Regulator Warns Cryptocurrency Exchanges About Legal Compliance
The Japan Financial Services Agency (FSA) recently issued a warning to four foreign cryptocurrency exchanges - Bybit, BitForex, MEXC Global, and Bitget - stating that they need to ensure legal compliance in the country. The FSA noted that these exchanges may be violating Japanese laws, although t ...
Governor of Bank of Japan Advocates for Integration of Central Bank Digital Currency with Other Payment Methods
Haruhiko Kuroda, the Governor of the Bank of Japan, has expressed his belief that a central bank's digital currency (CBDC) should work in tandem with other payment methods to enhance Japan's financial ecosystem. According to Kuroda, government-backed stablecoins can increase payment convenience f ...
US Federal Reserve Bank Seeks Senior Developer for CBDC System Maintenance
The San Francisco branch of the US Federal Reserve Bank has recently advertised a job opening for software developers to maintain their central bank digital currency (CBDC) system. This job posting was made on February 18th and is for a senior developer who will specialize in working on an applicati ...