In an advanced statement, the Bank for International Settlements and the Bank of England announced the completion of Project Rosalind. The financial watchdogs revealed plans to release soon the central bank digital currency (CBDC), commonly known as Britcoin. After analyzing the development…
Despite the lingering court case against Ripple and its native token XRP, the distributed ledger technology (DLT) payment company has launched a new platform for developing central bank digital currencies (CBDCs) and stablecoins. Ripple announced on 18 May it is launching a…
The governor of Florida Ron DeSantis has signed into law a new bill that forbids the use of a central bank digital currency (CBDC). Another bill signed on Friday 12 May also prevents credit card companies from tracking gun sales in the…
Microstrategy Co-Founder Michael Saylor says a central bank digital currency (CBDC) launch in the United States will only result in more interest in Bitcoin. He discussed his opinion on CBDC launch in a new interview with Valuetainment There is a recent push…
An official tweet from President Joe Biden revealed the famous MAGA House Republicans supported tax loopholes to benefit the wealthy crypto entrepreneurs in America. The President’s tweet was against the MAGA action that threatened the country’s food security investigations. The President’s May…
Key Insights: IMF and DCMA launched a CBDC called UMU to improve cross-border transactions. UMU uses SPOT protocol, AI-powered monetary policy framework, and global localization architecture. UMU aims to provide a solution for central banks while mitigating currency depreciation. During the IMF…
Citi has claimed that the crypto industry is nearing a turning point that would see the number of users surge to a billion and the total market capitalization hit trillions of dollars. Citi analysts’ latest report, titled ‘Money, Games, and Tokens: Blockchain’s…
On March 20, the International Monetary Fund (IMF) legislators issued a report on the impact of central bank digital currency (CBDC) on Islamic banks. The IMF official examined the CBDC and monetary policy’s relationship to understand its impact on Islamic banking. The…
Governor of South Dakota, Kristi Noem, has decided to take a stand against a CBDC bill that has rejected the status of cryptocurrencies as money. The bill postulates that only CBDCs that are issued by the Central Bank are going to be…
Many countries in the world are currently working on introducing their localized version of CBDC. A CBDC is a digitized version of a legal tender using blockchain technology. Nigerian Central Bank and the government are one of the first countries in the…
The UK Treasury and the Bank of England are committed to supporting the development of the country’s central bank digital currency. The respective currency is popularly known by the names “digital pound” or “Britcoin.” In 2021’s April, discussions were started related to…
Crypto has gained a lot of fame across the globe in recent times. Countries around the world, whether small or large, are endeavoring to adopt crypto and blockchain technologies into the economy to get spread digitalization worldwide. Many central banks are pursuing…
Many local news outlets in India reported that the community of the country is taking less interest in its digital rupee. As reported by the Hindu Business, the currency does not show any distinction from internet-based banking, and the consumers were in…
Christopher Waller, the Governor of the Federal Reserve, shared his thoughts about a central bank digital currency (CBDC) and said that he is not in favor of it. The governor said that it would just be a checking account at the US…
The Reserve Bank of Australia is further advancing in the race of central bank digital currencies (CBDCs) to discover a CBDC’s use cases within the country. The collaboration will be witnessed between Australia and the Digital Finance Cooperation Research Centre (DFCRC) regarding…
The Bank of Central African States (also known as Banque des États de l’Afrique) – the entity responsible for serving the Republic of Congo, Equatorial Guinea, Gabon, Chad, the Central African Republic, as well as Cameroon – could be nearer to launching…
The RBI (Reserve Bank of India), while further remarking on the decision of the authorities to launch an in-house CBDC (central bank digital currency) in 2022-23, suggested a 3-step strategy to introduce a CBDC with no or little disruption caused to the…
According to a statement from the European Central Bank, the development of the Digital Euro is expected to be initiated by next year, with the expected launch time to be in around 4 years. Digital Euro Coming Soon An executive from the…
Research organized on the behalf of the BIS (Bank of International Settlements) brings to the front that 9 of the cumulative 10 central banks are at present operating on a project of CBDC. The BIS has not yet determined whether to manufacture…
The central bank of England declared on Friday to have had made a contract with the DCI (Digital Currency Initiative) of Massachusetts Institute of Technology (MIT) Media Lab on a mutual twelve-month long research project over CBDC (central bank digital currency). The…
