Russia Plans To Roll-Out Its First Ever CBDC Soon

As more expansions and innovations in cryptocurrency emerge, many nations are utilizing its unlimited possibilities hence, the development and exploration of central bank digital currency (CBDC) are increasing in several countries.

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$1.3M in Chinese Digital Yuan Were Spent In The Largest DCEP Test Run in Shenzhen Province

China is on the verge of completing trials and pilot programs for its national digital currency for the Yuan, which they are calling DCEP. The CBDC, which has been under development for over half a decade, is currently being put to the test through various government subsidies and as a form of payment in selected […] The post .

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The Bahamas beats China by launching the world’s first CBDC

China has made central banks around the world start considering, and even exploring and developing CBDCs after it originally revealed digital yuan. However, while China was considered to be in the lead when it comes to the development and testing of its own CBDC, it appears that another project may have surpassed it.

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Japan’s LINE Launches CBDC Development Platform: Report

LINE reportedly said it has several "major" Asian nations in discussions over using the CBDC platform.

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US won’t issue a CBDC until the Fed resolves all of the details

With China being in the lead regarding its CBDC testing and development, a lot of countries are rushing their central bank digital coins to catch up. The US, on the other hand, has different plans.

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Here’s why Bitcoin will boom in the “biggest overhaul” of finance

The development of Central Bank Digital Currencies (CBDC) has blossomed in the past few years, with countries like China in the advanced stages of its digital Yuan and Japan, Korea, and the US in their research phase for their respective fiat currencies.

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Japan’s central bank to start CBDC tests next year

Central bank digital currency (CBDC) development has seen a lot of progress in 2020, as central banks of most advanced nations rushed to develop their own coins. Many have already started testing, with China still being in the lead.

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US Treasury and Federal Reserve are 'studying' potential of CBDC

As global economies adapt to the Covid-19 pandemic, which is driving the need for contactless payments, federal authorities in the US have shared another update about the development of a digital currThe post US Treasury and Federal Reserve are 'studying' potential of CBDC appeared first on AMBCrypto.

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So how does China feel about DeFi?

Since President Xi Jinping’s announcement last year to prioritize blockchain development in China, the country has been the first to launch its CBDC, created the BSN network, and applied for a recorThe post So how does China feel about DeFi? appeared first on AMBCrypto.

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ConsenSys to Work on PoC for CBDC with Hong Kong Monetary Authority

ConsenSys has shared on Sept. 25, that it was awarded a cross-border payment network study project by the Hong Kong Monetary Authority (HKMA). The project involves the development of a technology for a central bank digital currency (CBDC) cross-border payment network, which actually serves as the second implementation phase of the Project Inthanon-LionRock.

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Blockchain Bites: The SEC’s Chilling Effect on Crypto Development

A slew of regulatory happenings are in the works: a Bahamian CBDC, a potential ban on crypto trading in India and a plan to unify state banking compliance standards across the U.S.

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Japan accelerates rollout of a digital version of yen

Bank of Japan (BoJ), one of Japan's central banks, has put the development of a central bank digital currency (CBDC) on top priority since July, according to a report in Japan Today. As per the reportThe post Japan accelerates rollout of a digital version of yen appeared first on AMBCrypto.

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Japan Speeds up CBDC Development as China’s Digital Yuan Advances

Top Japanese bankers and officials say digital currency development is a top priority now as the country “trails behind” China and South Korea in similar projects, according to a report by Japan Today.

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South Korean Central Bank Enters Phase 2 of CBDC Development; Seeks Consulting Partner

The Bank of Korea (BoK) has advanced its Central Bank Digital Currency (CBDC) initiative following a recent call for collaboration with a private consultancy. This move will set ground for the second phase of South Korea’s CBDC with a speculated pilot launch in 2021.

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Brazil’s Central Bank considering the development of a CBDC

The Banco Central do Brazil (Central Bank of Brazil) is seriously weighing the benefits... The post Brazil’s Central Bank considering the development of a CBDC appeared first on Coin Journal.

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Over 20% Of Central Banks Are Looking to Launch A CBDC In The Next 1-6 Years: BIS Report

In research published over the weekend, the Swiss-based BIS reports the growing attention by global central banks on research and development of central bank digital currencies (CBDCs) in 2020. The paper states the motivations, technical developments and policy approaches towards the launch of CBDCs vary across the central banks with the more innovative countries taking […]

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CorionX is ‘Gas’ for Stablecoin and DeFi Adoption, IEO Second Round Starts August 18th on ProBit Exchange 

CorionX is a utility token and pioneer for the adoption, development of stablecoins, cryptocurrency education, DeFi, and CBDC’s. The CorionX (CORX) IEO second round will run with a limited amount of tokens from August 18th to September 1st, 2020.

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CorionX is ‘Gas’ for Stablecoin and DeFi Adoption. IEO Second Round Starts August 18th on ProBit Exchange

  Bitcoin Press Release: CorionX is a utility token and pioneer for the adoption, development of stablecoins, cryptocurrency education, DeFi, and CBDC’s. The CorionX (CORX) IEO second round will run with a limited amount of tokens from August 18th to September 1st, 2020.

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Japan: FSA Chief Says No Plans to Deregulate Bitcoin Trading, Focus on CBDC Development

Ryozo Himino, the new chief of the Japanese financial regulator – the Financial Services Agency (FSA) – told Reuters there is no need to promote non-fiat pegged cryptocurrencies such as bitcoin (BTC).

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Japan’s Central Bank to Prioritize the Development and Potential Issuance of the Digital Yen

News has surfaced that the Japanese Central Bank will now focus their efforts on the development of the digital Yen. This is a there is growing concern that China might beat them by issuing the CBDC first.

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Top IMF Official Says Private Sector Could Play Pivotal Role in CBDC Development; Contrary to The Fed’s Take

A top executive at the IMF believes that the private sector could play a pivotal role in the development and integration of CBDC’s with existing financial ecosystems. Tobias Adrian, a Monetary and Capital Markets director & financial counselor at the IMF, shared these sentiments during the R3 sponsored “Building CBDC: A Race To Reality” conference […]

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Bank of France Taps 8 Financial Institutions for CBDC Test

France is once again front-running the EU in digital currency matters as the Bank of France gets ready to run central bank digital currency (CBDC) experiments. With China’s accelerated CBDC development, stakeholders in other major economies are calling for their respective central banks to begin developing sovereign CBDCs asap.

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Digital Yuan CBDC Momentum Grows as More Chinese Firms Get to Testing

As the development of the digital yuan project progresses, the number of China’s largest companies testing the national cryptocurrency is rapidly growing.

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Bank of Thailand Enters Third Phase of CBDC Development; Now “Using CBDC with Big Businesses”

The Bank of Thailand (BOT) announced Wednesday that is has entered third-phase development of its central bank digital currency (CBDC). BOT is planning to expand the use of the CBDC among large businesses.

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Thailand: Central Bank Deploys CBDC to Large Corporations

Thailand’s central bank is continuing developments on the central bank digital currency (CBDC) project as the apex bank will test its CBDC for transactions among large businesses. Thailand’s CBDC Reaches Third-Stage Development According to a report by the Nation Thailand on Thursday (July 16, 2020), the Bank of Thailand (BOT) CBDC project is already atRead MoreRead More.

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Japan’s Govt. Is Strongly Considering Launching A CBDC In Cooperation With The US and Europe

Japan is increasing its efforts in developing a central bank digital currency (CBDC), reported the largest financial paper in Japan, Nikkei on Wednesday. The post further confirms that the Japanese government plans to add the development of a digital yen into its policy framework this year.

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Former Chinese Official Says CBDC Will Pave Way for Digital Stocks

A former Chinese official says the development of a digital currency will lay the foundation for the birth of digital stocks.

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Bank of Canada CBDC Insight: Zero-Knowledge Proof Are Insufficient for National Scale Integration

A recent analytical staff note by the Bank of Canada on CBDC's has highlighted that higher privacy levels may come at a cost. The bank summarized possible privacy CBDC frameworks as it looks to advance research and development in this space.

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Tether: Challenging the USD’s Hegemony, Championing CBDC and Beyond

Exploring six major points regarding Tether’s impact on geopolitics and the future development of sovereign digital currency.

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Cambodia’s Central Bank Rolls Out Blockchain Payment System Whitepaper; It’s Not A CBDC

After three years of development, the Cambodian national digital currency may be out later this month, according to a recently released whitepaper. The permissioned blockchain-based payments system differs from the central bank digital currencies, also known as CBDCs, being offered by several states, including China and Russia, the paper states.

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Bank of Thailand (BoT) to Develop A Prototype Payments System For Business Using CBDC

Thailand's Central Bank (BoT) has announced that it will roll out a prototype for digital currency payments within the country's business ecosystems. The initiative will be based on an ongoing CBDC project dubbed ‘Inthanon, ‘ which kicked off two years ago in collaboration with Thai's leading financial institutions.

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Bank of Korea launches legal advisory panel for CBDC development

This is part of a series of initiatives being launched by the central bank...

The post Bank of Korea launches legal advisory panel for CBDC development appeared first on Coin Journal.

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Top UN Blockchain Expert Believes Digital Currencies And CBDC’s Pose a Threat To Bank Accounts

Massimo Buonomo, a United Nations global blockchain and fintech expert, said the rising development of CBDCs and the low interest (negative) rates offered in commercial bank accounts may act as a catalyst to make corporate bank accounts obsolete.

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CBDC development 'not a race': Chris Giancarlo

The concept of CBDC has been there for many years, but the so-called 'CBDC race' started only after China began testing its digital Yuan on a pilot basis. Interestingly, the Digital Dollar Project relThe post CBDC development 'not a race': Chris Giancarlo appeared first on AMBCrypto.

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Bitcoin's role in the digital economy will be bettered by CBDC development

With central banks across the world pumping billions of dollars into the economy through monetary and fiscal policies, never has the need for a central bank digital currency [CBDC] been more clearer.

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China Will Dry Run Its DCEP in May By Paying State Employees With The Digital Yuan

China’s national digital currency or ‘CBDC' or as they call it, “DC/EP” has been in development for 5 years now. And there has been plenty of speculation since the last quarter of 2019, that it will be released anytime soon.

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China's digital Yuan development may have fueled Facebook's Libra 2.0

The subject of central bank digital currencies [CBDC] has gained considerable traction lately. The introduction of Libra in 2019 also pushed several countries to plan their own digital currencies.

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Why other nation-states consider China's development of a CBDC to be provocative

"That's one small step for man, one giant leap for mankind." The immortal words of Neil Armstrong, the first man to walk on the moon, are etched in history. However, while most people remember his woThe post Why other nation-states consider China's development of a CBDC to be provocative appeared first on AMBCrypto.

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China’s PBoC Places Central Bank Digital Currency Development As Top Priority

Reports have surfaced that China’s Central Bank has made strides towards realizing their Central Bank Digital Currency (CBDC). In a virtual meeting by the People’s Bank (PBOC) top brass, whose focal point seems to be the discussion around the ongoing developments of China’s digital Yuan.

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Hyperledger Fast Tracks Dev of Ethereum Based eThaler As US Central Bank Digital Dollar

eThaler Set To Create Central Bank Digital Currency (CBDC) At a planned meeting at Hyperledger, a blockchain consortium, it was decided to accelerate its efforts in the development of eThaler, an Ethereum based project aiming to create a CBDC.

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Turning A Crisis Into An Opportunity, China Gets One Step Closer to CBDC

China is getting one step closer to a digital Yuan as the central bank has completed the CBDC basic function development

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CBDC might become single point of failure in itself: BoE exec

Bank of England's Deputy Governor Sir Jon Cunliffe is the latest one to address CBDCs and stablecoins. Referring to cryptocurrency as a new wave of technological development, he stated that crypto adoThe post CBDC might become single point of failure in itself: BoE exec appeared first on AMBCrypto.

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A Sea Change to Crypto Hits America, Again

A sea change is coming to cryptocurrency in America. It is likely to hit in two separate waves: a central bank digital currency (CBDC) and draconian regulation that shuts down free-market activities, including development.

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UK CBDC: Bank of England Exec Says Need for National Currency is “Crucial”

Calls for the creation and development of national currencies seem to be rising steadily. Another call has been made by one of the execs of the Bank of England (BoE) in support of digital currencies.

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Japan’s Finance Ministry, Financial Services Agency, and BoJ To Research A CBDC Launch

Japan is the latest country to show interest in developing a central bank digital currency (CBDC) as the central bank, finance ministry and financial authorities meet to discuss digital currencies. As one of the top countries in crypto and blockchain development and regulation, accelerated efforts are being placed to develop an official digital coin to […]

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Ripple CEO claims XRP's demand won't be affected by USD-backed CBDC

With nation-states like Singapore well into the development of its own CBDC and China set to launch its ‘DCEP’ this year, all eyes are on the United States Federal Reserve and the possibility of The post Ripple CEO claims XRP's demand won't be affected by USD-backed CBDC appeared first on AMBCrypto.

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Japanese Lawmakers Pushing for Digital Yen to Counter Chinese Digital Yuan

Coinspeaker Japanese Lawmakers Pushing for Digital Yen to Counter Chinese Digital YuanJapanese lawmakers are pushing for the adoption of the new CBDC system and the development of the digital yen in the next three years in order to counter the failing fiat currency system.

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Japanese Lawmakers Pushing for CBDC to Counter Failing Fiat Currency System

Coinspeaker Japanese Lawmakers Pushing for CBDC to Counter Failing Fiat Currency SystemJapanese lawmakers are pushing for the adoption of the new CBDC system and the development of the digital yen in the next three years in order to counter the failing fiat currency system.

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Facebook, China Light Flame Under Fed: Governor Cites Stablecoins Influencing Digital Dollar Research

At the recent Symposium for Future Payments held in Stanford, California on February 5, Federal Reserve Governor Lael Brainard stressed the importance of remaining “on the frontier of research and policy development regarding CBDC.

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