The Bank of Korea wrapped up the first phase of a central bank digital currency (CBDC) simulation project in December 2021, according to a report published on Monday. The first phase tested the basic ...
Tag: CBDC
South Korea Completes The First Phase of its CBDC Testing Program (Report)
The central bank of the East Asian country – Bank of Korea (BoK) – has reportedly carried out the first stage of its two-part mock testing of its CBDC in December. The institution also revealed that t...
The Pros and Cons of a CBDC, According to the Federal Reserve
The central bank of the United States – the Federal Reserve – released a discussion paper that examines the advantages and disadvantages of rolling out a potential US CBDC. This is the first conversat...
The Fed’s proposed CBDC: a dystopian nightmare or a necessary evolution of the dollar?
The U.S. Federal Reserve has taken its first step towards issuing a central bank digital currency (CBDC). And while a digital dollar is still years away even if the Fed decides to move forward with th...
In Long-Awaited CBDC White Paper, Fed Flags Privacy, Financial Stability Risks
“It is important, however, to consider the implications of a potential future state in which many foreign countries and currency unions may have introduced CBDCs. Some have suggested that, if th...
Here’s why the Fed isn’t very optimistic about a U.S dollar CBDC despite benefits
After being in the pipeline for quite some time, the U.S Federal Reserve’s white paper on the development of central bank digital currency (CBDC) was finally released on Thursday. The Fed has stated i...
SNB member states against traditional CBDC
The member of SNB, Andrea Maechler stages against digital Franc. However, she further stated that SNB is interested in developing Wholesale CBDCs. Switzerland had initiated the wholesale CBDC conc...
US Federal Reserve Publishes CBDC Report, Wants Further Dialogue
The U.S. Federal Reserve has published a lengthy paper on a dollar-based central bank digital currency and asked for input. It did not recommend any specific policy, though it did state that a CBDC co...
The Fed Publishes A Discussion Paper
The Chinese Central Bank is rolling out a digital yuan into production to coincide with the Winter Olympics, the Fed is producing a discussion paper. 250 million people have downloaded the wallet app ...
U.S. Fed Releases New Whitepaper for CBDC Digital Dollar, Kickstarts Debate
On Tuesday, January 20, the U.S. central bank aka the Federal Reserve kickstarted the debate about the central bank digital currency (CBDC) aka Digital Dollar by releasing a new whitepaper. This is qu...
New Fed paper hints that a US CBDC could compete with ‘private digital money’
Thursday proved Fed chair Jerome Powell right in that the US central bank’s long-awaited central bank digital currency (CBDC) paper was right around the corner. The 40-page paper represents a key step...
Fed Delivers Highly-Anticipated CBDC Report
Key Takeaways The U.S. Federal Reserve published a highly-anticipated report on CBDCs today after several delays. The paper discusses the pros and cons of a central bank digital currency, as well as p...
Four Years Down the Line, Iran’s Pilot National CBDC is Ready
The Central Bank of Iran (CBI) is taking its favour for digital innovation to a new level, possibly introducing its Central Bank Digital Currency (CBDC) within a short period. As reported by the Irani...
Iran Reportedly Gearing up for CBDC Pilot in the Nearest Future
Iran’s central bank is reportedly looking to begin the pilot phase of its proposed central bank digital currency (CBDC) project. Iran’s CBDC Pilot to Happen Soon According to the Iranian Labour News ...
Iranian CBI Officials Reveal CBDC Pilot Phase to Start Soon
In the face of massive sanctions, top Iranian official believes cryptocurrency is a solution. The country is now looking to launch its CBDC in a pilot phase. CBDC headlines have been dominating fintec...
This SNB Governing Board Member Says The Risks of a CBDC Outweighs Its Benefits
An active member of the governing board for the Swiss National Bank (SNB) Andréa Maechler, has recently disclosed the thoughts of most of her colleagues at the central bank, especially regarding the i...
Malaysia to Explore the Potential Launch of a CBDC (Report)
Bank Negara Malaysia (the central banking institution of the nation) has reportedly joined the global race to develop a digital version of its national currency. As of the moment, the project is still...
‘The risks outweigh the benefits’ of a Swiss CBDC, says SNB governing board member
Andréa Maechler, a member of the governing board for the Swiss National Bank, or SNB, has reportedly altered her position on the central bank issuing a digital franc. According to a Tuesday report fr...
70% of Jamaicans to soon adopt CBDC
CBDC will be adopted by 70% of Jamaicans by 2025 according to its Prime Minister The end of the first quarter of 2022 could see the rollout of the nationwide CBDC 230 million Jamaican dollars have b...
First-mover advantage in a CBDC conversation, Jan. 10–17
Last week saw an unlikely first move in the opening narrative battle around a prospective U.S. central bank digital currency: Congressperson Tom Emmer came forward with an initiative to legally restri...
Malaysian Central Bank “Actively Assessing” CBDC
Key Takeaways The Central Bank of Malaysia has written to Bloomberg that it is “actively assessing” the pros and cons of a central bank digital currency. The Bank has focused on boosting both its tech...
Central Bank of Malaysia is Testing Efficiency of a Central Bank Digital Currency (CBDC)
Central Bank of Malaysia, also known as Bank Negara Malaysia (BNM), recently replied to a query from Bloomberg about testing a Central Bank Digital Currency (CBDC). BNM is studying the usefulness of c...
Jamaican PM predicts 70% adoption rate of CBDC in 5 years
TL; DR Breakdown Jamaican PM predicts 70% adoption rate of CBDC Holness shares the benefit of the CBDC Bank of Jamaica continues to test on the CBDC The debate on the Central bank digital currency has...
Israel joined the CBDC race, testing of Digital Shekel started
Many countries out there are working on developing their own central bank backed currency, considering the demands and public interest towards digital currencies Recent reports stated that the biggest...
UK newspaper unveils record breaking number of crypto ads, amid CBDC pushback
If regulating crypto wasn’t hard enough, one particularly sticky area to navigate is the question of crypto ads and commercials. Across the Atlantic, this matter has been causing a row for quite some ...
Here’s how China might be leading the CBDC race as Winter Olympics draws near
One might be tempted to think that China has dropped out of the crypto race, due to its stance against crypto transactions and more recently, NFTs. However, the country’s latest CBDC adoption stats su...
British Lawmakers Say a CBDC Is Likely to Hurt Financial Stability — Digital Pound Benefits Overstated – Fintech Bitcoin News
According to British lawmakers, a central bank digital currency (CBDC) is likely to raise the cost of borrowing while hurting financial stability. They insist the touted potential advantages of a digi...
Swiss starts CBDC trials featuring the national bank
TL;DR Breakdown The Swiss National Bank has announced the beginning of testing their CBDC with five banks to determine its interoperability. The CBDC tests aim to determine how the coin will function ...
Swiss National Bank Trials CBDC in Transactions With Five Banks – Finance Bitcoin News
The Swiss National Bank has successfully employed a wholesale CBDC to settle transactions with five commercial banks, the monetary authority announced. The tests are part of an experiment carried out ...
Economic Affairs Committee Unsure UK Needs Retail CBDC
The United Kingdom’s Economic Affairs Committee has shared its views on the proposed plans by the country to launch a Central Bank Digital Currency (CBDC) or digital Pound. In a report published on Th...