The potential benefits of a CBDC in the Australian context include its possibilities to enhance the country’s monetary and payment systems and support competition and efficiency in the payments system...
Tag: CBDC
Nigeria Limits ATM Withdrawals to $225 Weekly in a Bid to Boost CBDC Adoption
The Central Bank of Nigeria (CBN) issued a directive according to which locals can withdraw a maximum of $225 per week from ATMs. The institution raised hopes that it could stimulate the usage of mobi...
Bank of Spain to Launch Experimental Wholesale CBDC Digital Token Program – Blockchain Bitcoin News
The Bank of Spain is seeking the collaboration of organizations interested in participating in an experimental test on a wholesale central bank digital currency (CBDC). The institution clarified this ...
CBDC Adoption Increasing Efforts of Nigerian Central Bank; Caps Over Withdrawal
The world is going digital and many countries all around are seeking to lead the race. Some countries amidst these top contenders took advantage of starting early. Nigeria is among such players who in...
Nigeria Limits Cash Withdrawals to $45 per Day in CBDC, Digital Banking Push
Nigeria has imposed limits on cash withdrawals in a move to push consumers towards alternatives, including its own Central Bank Digital Currency (CBDC), the eNaira. In a letter to banks and other fina...
ECB attempts to tarnish crypto before CBDC rollout
As the European Central Bank prepares to issue its digital currency, executive member Fabio Panetta gives a speech based on trying to dissuade the public from investing in cryptocurrencies. A keynote ...
Spain Bank Proposes for Wholesale CBDC Project
10 mins ago | 2 mins read Altcoin News The Bank of Spain has announced a wholesale CBDC program. As per the bank’s official statement, it is unrelated to the EU Initiative. Banks Spain has proposed a ...
Report outlines reasons why stakeholders are against CBDC
While some countries like Nigeria are aggressively pushing the use of central bank digital currencies (CBDCs), a new report summarized why a number of private stakeholders are against the idea of a CB...
Nigeria Limits Cash Withdrawals in CBDC Push
The Central Bank of Nigeria is attempting to drum up the use of its central bank digital currency, or CBDC, by enforcing limits on the amount of cash citizens can withdraw from their local banks. Nige...
Nigeria bans ATM cash withdrawals over $225 a week to force use of CBDC
Nigeria has drastically reduced the amount of cash individuals and businesses can withdraw as it attempts to push its “cash-less Nigeria” policy and increase the use of the eNaira — Nigeria’s Central ...
Nigeria Restricted ATM Withdrawals to Promote CBDC Adoption
11 seconds ago | 2 mins read Bitcoin News Nigeria urged citizens to use the eNaira and other channels by the central bank. Who breach the limits imposed by the government will be charged. Nigeria has ...
Mu Changchun Leads the China Team Winning the Global CBDC Race – Most Influential 2022
In such an atmosphere, determining who to credit for China’s CBDC development can be difficult because of the nation’s famously opaque government. However, there is Mu Changchun, who has worked as the...
Central bank plans to make CBDC ‘only legal digital tender’ in Indonesia, says gov
Bank of Indonesia Governor Perry Warjiyo has announced developments in its plans to launch a central bank digital currency, or CBDC, for “various digital economic and financial transactions.” In a Dec...
CBDC track record far inferior to crypto so far
Central bank digital currencies are touted by central banks as the solution to the world’s monetary problems, but they are poorly taken up by populations. As the world’s debt-based monetary system str...
Pakistan Enacts New Legislations To Introduce CBDC by 2025
Altcoin News The State Bank of Pakistan (SBP) enacted new legislation for EMIs. Licenses to issue CBDCs will be distributed by EMIs from the state bank (SBP). Central bank digital currencies (CBDCs) a...
Pakistan launches new laws to expedite CBDC launch by 2025
Regulators worldwide see central bank digital currencies (CBDCs) as a way to enhance fiat capabilities by inheriting the financial prowess of technologies that power cryptocurrencies. Pakistan joined ...
Indian CBDC Fails to Impress Bankers in Initial Trials: Report
The initial excitement among Indian bankers over the launch of a central bank-sponsored digital rupee seems to be fizzling out. They find it adding to their paper and accounting work without bringing ...
US lawmakers question private firms’ role in development of a CBDC
U.S. lawmakers, including Tom Emmer and Patrick McHenry, wrote a joint letter to the Federal Reserve Bank of Boston regarding allegations that private firms involved in the design of the “hypoth...
CBDC Will Give Private Players Unfair Advantage, US Reps Warn
A number of US representatives are concerned a government-funded central bank digital currency project will be sold to commercial banks. Reps. Tom Emmer, R-Minn., and Patrick McHenry, R-N.C., dr...
Indonesia Wants to Counter ‘Shadow Central Banking’ With CBDC
In Indonesia, the central bank has formally laid out plans for a central bank digital currency (CBDC), pitched to combat what it calls rising “cryptoization” of the country’s digital economy. Bank Ind...
Ukraine Eyes CBDC For Retail and International Transactions
Altcoin News The Central Bank has met with representatives from various sectors. The bank would approach the subject of creating its own digital currency cautiously. The National Bank of Ukraine is co...
Reserve Bank of India Announces CBDC Pilot Launch in 4 Cities
40 seconds ago | 2 mins read Altcoin News The central bank will include an additional nine cities and four other institutions later. Participants in the trial will be limited to a select set of consum...
France, Luxembourg Test CBDC for 100M Euro Bond Issue
The Venus Initiative “shows how digital assets can be issued, distributed and settled within the eurozone, in a single day” and “confirms that a well-designed CBDC can play a critica...
E-Hryvnia’s new CBDC concept takes shape in Ukraine
E-Hryvnia is a digital version of the Ukraine Hryvnia national currency created on the blockchain. CBDCs are commonplace, with many nations announcing plans to implement their own. Blockchain has num...
Netherland citizens protests against Euro CBDC – crypto.news
Earlier, Thursday 24th of November, Dutch Citizens took to the streets to protest against the launch of Euro CBDC in the country. The protesters were seen with different placards and posters stating t...
What does the BIS’s report on CBDC development in Africa say?
The Bank for International Settlements (BIS) has conducted a survey of nineteen central banks from Africa. In doing so, it took a closer look at the development of central bank digital currencies (CBD...
BIS analysis reveals unequal CBDC uptake in Africa
According to a report that was published on November 24 by the Bank of International Settlements (BIS), many of the central bankers on the African continent have greater faith in CBDC than mobile mone...
BIS report finds uneven progress, differing motivations in African CBDC adoption
Mobile money has been a strong competitor to central bank digital currency (CBDC) in Africa, but many of the continent’s central bankers have greater faith CBDC, according to a Bank for International ...
Bank of Japan to Experiment with CBDC in 2023
The Bank of Japan (BoJ) announced that it is working with the country’s top three banks to launch a trial of the digital yen. According to reports by Nikkei, Japan’s central bank has started planning ...
Japan Intends To Roll Out CBDC Trial in Early 2023
Altcoin News The existing cryptocurrency rules in Japan are being loosened. After two years of testing the digital pilot, the central bank will make a decision. There has been a series of recent occur...
Japan CBDC Trial Set to Rollout with Major Banks in 2023
The Bank of Japan will roll out a pilot program for its central bank digital currency project to three major Japanese banks in spring 2023. The pilot’s launch will dovetail with the bank’s one-year CB...