Bank of Korea forms crypto unit as stablecoin rules shift

South Korea’s central bank is entering a new phase in its digital currency strategy with the creation of a dedicated “Cryptoassets Department.” This move comes as the nation shifts gears from research to implementation, aiming to monitor and influence stablecoin development while stepping back from a central bank digital currency (CBDC) rollout. The initiative is […]

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BIS proposes hybrid retail CBDC model blending central bank oversight with private sector roles

The Bank for International Settlements (BIS) has unveiled a comprehensive framework for designing retail central bank digital currencies (CBDCs), emphasizing a hybrid model that integrates central bank control with private sector collaboration.

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UK central bank leader reassures cash’s place with rising Britcoin

Amid growing fears that Britcoin, the UK’s central bank digital currency (CBDC), is going to supplant cash, Bank of England (BOE) governor Andrew Bailey said that the central bank will continue to supply cash “for as long as people want.

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Norway Central Bank to decide on digital currency recommendation next year

Norway’s Central Bank, Norges Bank, will make a decision regarding whether or not it will introduce a digital currency next year, says Deputy Central Bank Governor Pal Longva. In an interview with Bloomberg on Oct. 22, Norges’ Deputy Central Bank…

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India's CBDC Has 5M Users, Can be Phased in Gradually: Central Bank Governor

India's central bank Governor Shaktikanta Das has said that while their retail central bank digital currency (CBDC) pilot has over 5 million users, there should not be in any rush to roll out a system-wide CBDC.

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India’s central bank sees risks in CBDC amid financial crisis

India central bank’s Michael Debabrata Patra warns CBDC could be falsely considered as a “safe haven,” increasing bank run risks. Central bank digital currencies, touted for their potential to enhance financial inclusion and reduce settlement risks, may also pose significant…

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Bank of England to Carry Out CBDC, Digital Ledger Experiments

In a new discussion paper, the U.K. central bank also said it wants to ensure stablecoins are interchangeable with the pound.

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Qatar Central Bank launches first phase of CBDC project

The Qatar Central Bank (QCB) has announced the completion of the infrastructure development for its Central Bank Digital Currency (CBDC) project, marking a significant milestone in its efforts to embrace digital financial transformations.

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New Zealand’s central bank starts consultations on Bluetooth-friendly CBDC

New Zealand’s central bank has started exploration into launching a central bank digital currency, with ongoing investigation projected until approximately 2030. The Reserve Bank of New Zealand is now exploring the introduction of a central bank digital currency (CBDC) also…

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Swiss central bank sees no need for public CBDC as risks outweigh benefits

Swiss National Bank Chair Thomas Jordan says public central bank digital currency is unnecessary, suggests focusing on interbank trials. Switzerland is unlikely to introduce a public central bank digital currency (CBDC) in the near future, as risks associated with the…

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Swiss central bank sees no need for public CBDC as risks outweign benefits

Swiss National Bank Chair Thomas Jordan says public central bank digital currency is unnecessary, suggests focusing on interbank trials. Switzerland is unlikely to introduce a public central bank digital currency (CBDC) in the near future, as risks associated with the…

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Swiss central bank believes retail CBDCs could destabilize financial system

Swiss National Bank (SNB) Chairman Thomas Jordan said the central bank “sees no need” to issue a central bank digital currency (CBDC) for public use despite the benefits of a wholesale version.

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Crypto.com ‘disappointed’ over $3m fine by Dutch central bank, plans to appeal

The Dutch central bank has fined Crypto.com for $3m, saying the company severely violated compliance requirements. The Dutch central bank, De Nederlandsche Bank (DNB), has imposed an administrative fine of €2,850,000 (around $3.1 million) on Foris DAX MT, a parent…

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Russian Central Bank: nearly half of all financial scams in Russia last year involved crypto

The Central Bank of Russia has disclosed that nearly half of the financial fraud schemes within the country in the previous year leveraged cryptocurrency and foreign currencies for payments. Notably, the central bank made this disclosure in a report detailing…

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South Korean central bank to launch CBDC pilot in 2024

The Bank of Korea (BOK) has unveiled plans for a pilot program to test its new central bank digital currency (CBDC), according to local media reports. The program will be conducted in collaboration with the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) and is expected to launch in 2024.

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Retail CBDC Could Add Unique Value, but Further Investigation Is Needed, Hong Kong Central Bank Says

A retail central bank digital currency could add unique value to the existing payments ecosystem and enable new types of economic transactions, but further investigation is needed, Hong Kong's central bank said.

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Fed Governor Michelle Bowman expresses central bank’s skepticism of CBDCs

As the U. S. heads into the next election year, crypto concerns have begun to seep into mainstream American politics—specifically, the terrifying prospect of a United States central bank digital currency (CBDC) U.

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Is XRP Utilized By The Swiss Central Bank Via R3? Expert Weighs In

Following Switzerland’s announcement at the Sibos 2023 conference in Toronto about live transactions with a CBDC (Central Bank Digital Currency) taking place by the end of the year, the XRP community is currently shrouded in a web of claims, counter-claims, and expert explanations.

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Brazil’s crypto surge prompts central bank to tighten regulation

According to the central bank’s data, from January to August 2023, imports of crypto rose by 44.2% compared with the same period in 2022.

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Cryptocurrency Buying Trend On The Decline In Latvia, Central Bank Says

Latvijas Banka highlighted the decline in interest and use of cryptocurrency among Latvians in its “Financial Stability Report” for 2023. Only 4% of people, down significantly from the 8% seen in February 2022, bought crypto assets, the central bank study claims.

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Wholesale CBDC Would Improve Cross-Border Payments, French Central Bank Tests Show

The French Central Bank has determined that its wholesale central bank digital currency (wCBDC) would improve cross-border payments, it announced on Friday.

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CBDC Rising: Bank Of Int’l Settlements Reveals 93% Of Banks Engaging In Exploratory Studies

CBDC, short for central bank digital currency, has garnered significant interest from a majority of central banks, as indicated by a recent survey conducted by the Bank of International Settlements (BIS).

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Central Banks Successfully Test Over 30 CBDC Use Cases, Including Offline Payments

An API layer could facilitate a wide range of central bank digital currency payment scenarios, a Bank for International Settlements and Bank of England experiment has shown.

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Thailand central bank partners with payment providers for retail CBDC pilot

Thailand’s central bank will continue with its retail central bank digital currency (CBDC) development this month. The project (delayed from 2022) will enlist nearby businesses and bank employees for the test.

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Kenyan central bank says CBDC not a priority

Following a period of feedback collection on central bank digital currencies (CBDCs) earlier this year, Kenya's Central Bank (CBK) has told the public that a CBDC is not a priority.

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Hungarian Central Bank Sees No Imminent Need for e-Forint

The EU member is still trying out options for a central bank digital currency that could help the unbanked.

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Stablecoins Need to Be Regulated Like Commercial Bank Money, Bank of England's Andrew Bailey Says

The central bank governor also said regulators can't rule out central bank digital currencies.

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Central Bank of Brazil announces experimental CBDC

Reuters said the Brazilian central bank has formally launched its CBDC experiment. The bank has specifically announced the beginning of its digital currency pilot project to imitate the success displayed by the rapid payment system, Pix. According to Fabio Araujo,…

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CBDC teased by UK government and central bank 

As part of the build-up process to the launching of the central bank digital currency, the U.K.’s Treasury and the Bank of England are expected to present a progress report on Feb. 7.

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Tim Draper Bitcoin Pitch Gets Cold Shoulder at Sri Lanka Central Bank

Tim Draper's mission to promote Bitcoin as a solution to corruption in Sri Lanka was rejected by the Central Bank. The post Tim Draper Bitcoin Pitch Gets Cold Shoulder at Sri Lanka Central Bank appeared first on BeInCrypto.

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Ripple price prediction ahead of the Fed meeting

Ripple gained over 16% YTD While the momentum is positive, it has yet to overcome resistance $0. 3 – $0. 5 are pivotal levels for XRP/USD This is the first important trading week of the year as three central banks (Federal Reserve, European Central Bank, and Bank of England) prepare to release their monetary policy decisions.

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Brazil Central Bank Plans to Launch a CBDC in 2024

The central bank sees a digital currency as a way of increasing participation in the financial system.

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Indian central bank on track to launch retail CBDC pilot next month

The Reserve Bank of India (RBI), the country’s central bank, is finalizing the rollout of the retail digital rupee pilot, the Economic Times of India (ETI) reported on November 19. The post Indian central bank on track to launch retail CBDC pilot next month appeared first on CryptoSlate.

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Thailand Central Bank to Launch CBDC Pilot, But Still Not Keen on Crypto

The central bank of Thailand has announced that it is planning more time to research and develop its central bank digital currency (CBDC). The post Thailand Central Bank to Launch CBDC Pilot, But Still Not Keen on Crypto appeared first on BeInCrypto.

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Kazakhstan to Test National Digital Currency on BNB Chain, Binance CEO Zhao Says

The country's central bank has been testing a central bank digital currency since 2021.

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CBDCs Can Work With Stablecoins, Central Bank Trial Finds

The central bank claims its prototype as a success that safeguards flexibility and privacy

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Sweden’s central bank tests CBDC for retail and international remittance payments

Sweden’s central bank, the Riksbank, along with the central banks of Israel and Norway and the Bank for International Settlements (BIS), is exploring the use of a central bank digital currency (CBDC) for immediate retail and international remittance payments, according to a September 28 release.

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Coinbase enters the Netherlands with central bank approval

U.S.-based crypto exchange Coinbase is approved by De Nederlandsche Bank, the central bank of the Netherlands.

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Norwegian central bank trusts Ethereum, credit goes to...

In a major announcement, the central bank of Norway, Norges Bank, has said that the source code for its central bank digital currency (CBDC) sandbox is now publicly available. The central bank has The post Norwegian central bank trusts Ethereum, credit goes to... appeared first on AMBCrypto.

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Singapore's Central Bank Asks Crypto Firms to Submit Business Data: Report

The move comes as the central bank is looking to bring in more safeguards for retail customers and a stablecoin regulation.

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RBI Governor Says Central Bank's Warnings Pushed People to Avoid Crypto: Report

The central bank has maintained banning cryptocurrency is the most suitable choice for India.

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Nigeria's CBDC eNaira Used for Nearly $10M Worth of Transactions Since October

Nigeria's central bank digital currency (CBDC), the eNaira, has been used to carry out transactions worth 4 billion naira ($9.3 million) since its introduction in October 2021, the governor of its central bank has said.

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Australian Central Bank Kicks Off Experiment Program To Explore Use Cases For Central Bank Digital Currency

The Australian Central Bank is joining the central bank digital currency (CBDC) bandwagon, kickstarting a “limited-scale” pilot in collaboration with the Digital Finance Cooperative Research Centre (DFCRC).

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Brazilian central banker describes how CBDC system can halt bank runs

In constructing its Real Digital, Brazil's central bank is developing mechanisms that can freeze citizens' conversion to CBDCs in the event of a bank run.

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Thailand Central Bank Not Rushing to Deploy CBDC, Crypto VAT Gets Delayed

The Bank of Thailand has put the brakes on its central bank digital currency (CBDC) plans as it sees plenty of viable alternatives for online payments. The post Thailand Central Bank Not Rushing to Deploy CBDC, Crypto VAT Gets Delayed appeared first on BeInCrypto.

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Norway’s Central Bank Chooses Ethereum L2 Project for CBDC Test

Norway’s Central Bank is piloting it's Central Bank Digital Currency (CBDC) using a sandbox created by Nahmii, an Ethereum L2 solution. The post Norway’s Central Bank Chooses Ethereum L2 Project for CBDC Test appeared first on BeInCrypto.

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Cuba’s Central Bank Announces Digital Asset License For Crypto Companies

The Cuban central bank released regulations for virtual asset service providers on Tuesday, a move that some experts believe could help the Communist-run Caribbean island avoid hefty US sanctions. Cuban Central Bank Announces Crypto License The Central Bank of Cuba (BCC) has declared that virtual asset service companies would be granted licenses. The license will […]

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Cuban Central Bank to license Virtual Asset Providers

The Central Bank of Cuba (BCC) has announced that it will provide licenses to…

The post Cuban Central Bank to license Virtual Asset Providers appeared first on Coin Journal.

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Sudan's Central Bank Warns Against Using Crypto as Economy Suffers: Report

The central bank said that cryptos carry high risks, which includes financial crimes, piracy and the loss of value.

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Hacker Group Anonymous Leaks 35,000 Files Of Stolen Russian Central Bank Documents

Anonymous keeps its promise by renewing its attack on the cybersecurity firewalls of Russia’s Central Bank. According to various news sources, the international hacker collective Anonymous claims to have hacked Russia’s Central Bank and is threatening to leak 35,000 files including “secret agreements” within the next 48 hours.

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