While it looks like the U.S. is currently examining various aspects of CBDC it is considering, the Federal Reserve Bank of Boston has released a research report on the code that could support the visi...
Tag: CBDC
Myanmar’s military government plans CBDC launch
TL; DR Breakdown Myanmar set to develop its CBDC The CBDC will alleviate poverty in the country Shadow government announces Tether as official legal tender The idea of creating and developing a Centra...
Boston Fed and MIT release the first results of their CBDC research
Dubbed Project Hamilton, exploratory research between the Federal Reserve of Boston and the Massachusetts Institute of Technology’s (MIT) released the first round of results in modeling a digital doll...
China: CBDC makes a low key debut at Winter Olympics, two banks phase out cash
After eight years of guesses, discourse, and conflicting reports, China’s digital yuan CBDC made a rather low-key debut at the 2022 Beijing Winter Olympics on 4 February. Time to introduce “yuan” self...
Boston Fed releases first CBDC research – Better than crypto?
Yesterday, the Federal Reserve Bank of Boston, together with the Massachusetts Institute of Technology, released their research on a proposed central bank digital currency. It is said to be able to ha...
Federal Reserve Bank of Boston, MIT Publish CBDC Research
Key Takeaways The Boston Fed, M.I.T.-run Project Hamilton has published its Phase One results. Project Hamilton is an effort to conduct research and build technology for a central bank digital currenc...
Why The US Is Taking So Long To Build A Digital Dollar
conceptual finance image of American one hundred dollar bill and binary code of one and zero getty What Happened On January 20th 2022, the US Federal Reserve Board released its initial concept paper f...
The British Government is Funding Stablecoin and CBDC Research
Key Takeaways The U.K. has awarded one of its most prestigious R&D grants to distributed ledger technology company Millicent. Millicent is working on a project centered around stablecoins and CBDC...
Jamaican dollar CBDC poised for an early rollout in Q1 2022
CBDC for Jamaica will launch in Q1 2022 after successful trials conducted It minted J$230 million in the trial phase as part of its pilot program Digital wallets were used to carry out P2P transacti...
CBDC Will Strengthen The Digital Economy
The Prime Minister of India – Narendra Modi – displayed his sympathy towards central bank digital currencies (CBDCs). He believes that they would boost the economy in the years to come. Modi Is Lookin...
Post successful pilot test, Jamaica may begin nationwide CBDC rollout this quarter
The global race between governments to launch a central bank digital currency (CBDC) has heated up exponentially over the past month, especially now that some of these currencies have already been rol...
India to Launch CBDC by 2022-2023, Proposes 30% Tax on Crypto Income
Having made this declaration on the digitized rendition of the Indian rupee, India’s first Woman Finance Minister also offered the implementation of a thirty percent tax on crypto that focuses on the ...
Central banks throughout Asia work out their CBDC bumps
TL;DR Breakdown Central banks in Asia are leading the charge in creating their own digital currencies. Cross-border interoperability in Asia, for their CBDCs, is contingent on regional cooperation. At...
India’s Finance Minister Says CBDC Digital Rupee Could Be Coming By FY 2022-2023
Speaking earlier today at India’s budget session, Indian Finance Minister Nirmala Sitharaman said that India will introduce its central bank digital currency (CBDC) aka Digital Rupee in the next finan...
Central Bank of Jordan Exploring the Possibility of Launching a CBDC – Fintech Bitcoin News
The governor of the Central Bank of Jordan recently said his institution is studying the possibility of launching a legal digital currency, one that will be linked with its national currency. He also ...
RBI to Introduce Digital Rupee (CBDC) Using Blockchain in Fy 2022-23
Union Budget 2022 – While presenting the 2022 Union Budget, FM Nirmala Sitharaman made the most significant announcement – introducing the New Digital Currency, Digital Rupee, that will boost India’s ...
Jamaican Dollar CBDC Ready for Public Roll Out in Q1 2022
According to a recent interview between Reuters and Natalie Haynes, who is the deputy governor for banking operations and financial markets infrastructure with the Central Bank of Jamaica, its nationa...
India’s CBDC to Arrive in the Next Fiscal Year, Crypto Income to be Taxed 30%
Nirmala Sitharaman – Finance Minister of India – reportedly disclosed that the country’s central bank will launch a digital currency in the next financial year (running between April 1 and March 31). ...
India to tax crypto income at 30%, launch CBDC in the fiscal year 2023
India has provided a much-anticipated clarity on crypto taxation in its Union Budget for the fiscal year 2022-23. The budget, presented on Tuesday by India’s Finance Minister Nirmala Sitharaman,...
Japan could be taking the slow route on CBDC development for this reason
As China races ahead with not just CBDCs, but also blockchain project pilots, all eyes are on its neighbours. In particular, experts worldwide are closely watching Japan. Out of the Ja-PAN and into th...
Mutual Efforts with Europe, U.S. Key for CBDC Issuance: Bank of Japan Governor
Joining hands with the United States and Europe is fundamental when meeting technical issues needed in the issuance of a central bank digital currency (CBDC), according to Bank of Japan (BOJ) governor...
Chinese food delivery giant joins CBDC efforts
China’s food delivery giant Meituan has become the latest tech firm to integrate central bank digital currency (CBDC) payments for its services. Meituan users can link the digital yuan wallet to their...
The Federal Reserve explores the benefits and drawbacks of launching a prospective US CBDC
The Federal Reserve, the United States’ central bank, has produced a discussion paper that explores the benefits and drawbacks of launching a prospective US CBDC. Powell stated last year that the prim...
The US Will Release a CBDC by 2030, Said Bank of America (Report)
Although US authorities continue to dabble with the idea of issuing their own central bank digital currency, the Bank of America believes such a product is “inevitable.” Additionally, researchers from...
Bank of America Predicts U.S. CBDC Rollout between 2025 and 2030
The Bank of America Corp. said that the US is likely to issue its own digital currency between 2025 and 2030, Bloomberg reported. According to strategists Alkesh Shah and Andrew Moss, central bank dig...
First Phase of CBDC Pilot Completed, South Korean Central Bank Reports
Bank of Korea (BOK) has been testing its central bank digital currency (CBDC) since August 2021. BOK recently reported that the first phase of the digital currency issuance and distribution pilot has ...
Bank of America says stablecoin adoption and CBDC is ‘inevitable’
It appears that the U.S. will finally be moving forward to create its own central bank digital currency (CBDC) according to the Bank of America. Bank of America crypto strategists Andrew Moss and Alke...
Bank Of Korea Successfully Completes First Phase Of CBDC Testing
The Bank Of Korea has effectively concluded the pilot testing of the issuance and distribution of their digital currency. It has also gone to state that BOK will have the central bank digital currency...
South Korea’s Central Bank Completes Phase One of CBDC Pilot
The Bank of Korea (BOK) has announced the successful completion of the first phase of its two-phase central bank digital currency (CBDC) pilot. The BOK has hinted that the second phase of the digital ...
Crypto Has Arrived- Why The U.S. Needs To Embrace It
Given the recent release of the whitepaper from the Federal Reserve analyzing the pros and cons of a U.S. central bank digital currency (CBDC), it seems a good time to take a fresh look at this issue....
Bank of America Says US CBDC Would Preserve Dollar’s Status as World’s Reserve Currency
Stablecoins are likely to see an increase in usage in the absence of CBDCs, the bank noted, adding that the two largest by market value, tether and USD coin, had a combined market value of around $121...
Bank of Korea Completes First Phase of CBDC Testing
The Bank of Korea has completed the first phase of a central bank digital currency (CBDC) simulation testing in December 2021. Now, the regulator is going to proceed with the next phase. The first pha...