NY Fed, Singapore Regulator Verify CBDC Interoperability, Payment Speeds in Latest Test

Central bank digital currency (CBDC) systems operating on different types of networks can be used for cross-border and cross-currency payments, a new report published by researchers with the New York Federal Reserve and Monetary Authority of Singapore late Thursday said.

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Israel to use Ethereum (ETH) to build digital shekel

For now, central banks around the world are still working on developing and testing their own CBDCs, but there are new ones that are joining the race all the time. The Bank of Israel, for example, reportedly just launched a cryptocurrency pilot program of its own, with plans to create a CBDC using Ethereum’s network.

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A Cryptocurrency Gets To The Central Bank of Israel, CBDC Is On Trial

The possibility of issuing a cryptocurrency fills the Central Bank of Israel with enthusiasm. A digital shekel has come from merely a theory to a persistent search for possible solutions. Their pros and cons list seems to have grown, leading them to be on the lookout for answers and new ideas. Back in June, Bank […]

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Digital Pound Foundation Launches to Help With the UK CBDC Project

A group of participants and stakeholders has formed a new body called the Digital Pound Foundation (DPF), an independent organization to support the robust development and design of a UK central bank digital currency (CBDC).

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US Federal Reserve would soon release ‘detailed plans’ for a digital dollar

In a new move that is set to change the dynamics of the financial industry in the United States, the country’s Federal Reserve is set to release detailed plans that will guide the process of reviewing the risks and benefits attached to issuing a central bank digital currency (CBDC), a report on Wall Street Journal […] The post US Federal Reserve would soon release ‘detailed plans’ for a digital dollar appeared first on CryptoSlate.

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Decline In Cash Usage Could Force New Zealand To Launch Digital Currency

Declining cash usage in New Zealand could inspire the country’s financial regulatory authorities to launch a central bank digital currency (CBDC) sooner than expected. Electronic transactions currently account for 90% of liquid money in the country according to an official statement from the Reserve Bank of New Zealand. Additionally, as of 2020, only 9% of […]

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Hong Kong issues whitepaper on 'architectures and design options' for retail CBDC

Countries all over the globe are steadily reaching new milestones in development of their own Central Bank Digital Currencies (CBDCs). China was undoubtedly in the lead, with the release of its first The post Hong Kong issues whitepaper on 'architectures and design options' for retail CBDC appeared first on AMBCrypto.

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Hong Kong exploring CBDC as part of fintech strategy

A new study from Hong Kong regulators is expected to present initial thoughts and findings on CBDCs during the summer of 2022.

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IMF recommends CBDC and global crypto standards for financial stability

The new policies recommended by the IMF aim to curb down the financial risks associated with global crypto adoption.

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Actions speak: China’s crypto ban may reveal digital yuan CBDC goals

China’s ban on cryptocurrencies causes a mild slump, but recovering from this FUD is not new for crypto as China’s motives come under the scanner.

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Significant Stablecoin Adoption Could Result in “Excessive Market Power,” says BIS Report on CBDC

Central bank money ensures public trust in money and supports public welfare, said the global body policymaker in its latest report on central bank digital currencies (CBDCs). With new forms of digital money issued by the private sector, such as stablecoins emerging, which has accelerated since the Covid-19 pandemic began, central banks are also ensuring […] The post Significant Stablecoin Adoption Could Result in “Excessive Market Power,” says BIS Report on CBDC first appeared on BitcoinExchangeGuide.

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BIS: эффективность CBDC обеспечит сотрудничество государственного и частного секторов

Банк международных расчетов (BIS) отчитался о промежуточных результатах исследований в области CBDC, в которых партнерами учреждения выступают семь центробанков. How can #CBDC best serve people and businesses in a fast-moving world? Payment innovations history suggests harnessing network effects and not making users buy new devices.

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Global CBDC bridge needs public and private cooperation, says BIS

Cooperation between public and private sectors would be vital for a global CBDC system, says a new joint report.

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New Zealand Considers Issuing Its Own CBDC

On Thursday, the Reserve Bank of New Zealand (RBNZ) announced its consideration to venture into (CBDCs) Central Bank Digital Currencies. CBDCs have taken root in the global economy. The move comes after regulators worldwide move to take hold of the virtual currencies industry.

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New Zealand is in no hurry to launch a CBDC, but won't miss out on it

Nigeria might soon become one of the first countries to launch its central bank digital currency [CBDC], eNaira, on 1 October. Needless to say, this has pushed other nations to consider a national CBDThe post New Zealand is in no hurry to launch a CBDC, but won't miss out on it appeared first on AMBCrypto.

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New Zealand Central Bank Asks Public for Input on CBDC

In exploring issuing a central bank digital currency (CBDC), the Reserve Bank of New Zealand (RBNZ) is soliciting the opinion of the public. The post New Zealand Central Bank Asks Public for Input on CBDC appeared first on BeInCrypto.

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New Zealand central bank releases issue paper on digital currency

The central bank of New Zealand has outlined the major benefits of CBDC designs based on blockchain technology.

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New decentralized stablecoin in China targets international trade

Conflux will provide the technology to launch an offshore RMB stablecoin pegged to China’s CBDC, the digital yuan.

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Four nations’ central banks join forces to work on a brand new CBDC platform

The central bank digital currency (CBDC) race is still one of the biggest talks of the financial world — so much so that central banks of multiple countries have recently teamed up to work on a joint CBDC.

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Thailand's central bank outlines safeguards for a future retail CBDC

The results of a new study from the Bank of Thailand point to three key considerations for making sure a retail central bank digital currency doesn't adversely impact financial stability.

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Jamaica’s Central Bank Mints $1.5M Batch of New CBDC

The Bank of Jamaica (BOJ) has minted the country’s first batch of its central bank digital currency (CBDC) on Aug 10. The post Jamaica’s Central Bank Mints $1.5M Batch of New CBDC appeared first on BeInCrypto.

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Bank Of England 'Britcoin' Will Fuel Rising Bitcoin Prices, Says deVere CEO

Nigel Green has reportedly commented on the UK's new CBDC initiative, remarking how it might backfire and help propel Bitcoin adoption.

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Digital Yuan Can Now Be Used to Pay for Electricity Bills

The digital Yuan can be touted as the most advanced central bank digital currency (CBDC) yet. After developing the state-backed cryptocurrency for years, China continues to add new sectors where residents can spend their digital money, and the latest seems to be electricity bills.

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Digital Yuan (E-CNY) Update Released by PBoC: What's New?

People's Bank of China has published a document to cover the latest updates on the progress of China's CBDC

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European Central Bank Kicks Off New Phase Of Digital Euro Project

The European Central Bank (ECB) is moving forward with its central bank digital currency (CBDC) plans. Today, the bank announced that its Governing Council had approved the investigation phase of the digital euro project.

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New Zealand: Central Bank to Explore CBDC, Stablecoin Policies via Public Consultation

The Reserve Bank of New Zealand is set to conduct public consultations with regard to CBDCs, stablecoins, and other emerging mediums of payment. NZ Catches the CBDC Fever According to an official statement issued on July 7, the Assistant Governor of The Reserve Bank of New Zealand, Christian Hawkesby detailed as to how New ZealandRead More

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New Zealand's Reserve Bank consulting public on a potential CBDC

The Reserve Bank of New Zealand will look at the potential for a CBDC “to work alongside cash as government-backed money,” and assess the issues around the emergence of crypto assets such as stablecoins.

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China: New CBDC Trials Indicate Pivot toward Environmental Sustainability

China’s e-yuan pilots are now focusing on going green. E-Yuan for Environmental Sustainability According to a report by Ledger Insights, China has kick-started two new pilots for its famed digital yuan.

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UK chancellor names CBDC on list of financial reforms for Treasury

“While I believe in the power of new technology, we also need to manage its impact on our economy and society,” said Rishi Sunak.

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Beijing and Suzhou Railways Now Accept Digital Yuan Payments for Ride Fares

Beijing subway has officially launched a new program that allows passengers to pay for rides with the central bank digital currency (CBDC) also known as the digital yuan. The news follows the subway system in East China’s Jiangsu province in the city of Suzhou which also allows digital yuan payments for subway fares. Digital Yuan […]

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Singapore’s central bank offers cash prizes for digital currency ideas

The Monetary Authority of Singapore is seeking new retail CBDC solutions with a new global challenge offering cash prizes and expert digital currency mentorship.

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Citigroup’s Richest Clients Can Now Trade Crypto; Also Helps Invest in Stablecoins, NFTs, & CBDC

Citigroup is finally coming around on cryptocurrencies. The Wall Street giant now allows its richest clients to bet on crypto as part of a new digital assets group inside its wealth management unit.

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Banque de France Completes New CBDC Experiment for Securities Settlement

France’s central bank stated that it completed a new central bank digital currency (CBDC) experiment in collaboration with Switzerland-based cryptocurrency bank, SEBA.   Banque de France Partners with SEBA for CBDC Experiment  Banque de France made the announcement via a press release on Monday (June 21, 2021).

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Subcontractors and Builders Located in China’s Xiong’an New Area Are Being Paid in Digital Yuan 

Xiong’an New Area, a state-level new area in Hebei, China, is seeing the use of onchain digital yuan payments, according to a circular issued by the Xiong’an government. The announcement details that Xiong’an subcontractors and builders are being paid using the central bank digital currency (CBDC) via the People’s Bank of China and the new […]

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China Debuts Blockchain-Powered Salary Payments with Digital Yuan in Xiong’an

As part of efforts to conduct more test on its upcoming central bank digital currency (CBDC) and expand the scope of the digital yuan, China completed it first salary payment with the CBDC powered by blockchain technology, in the Chinese state-level new area, Xiong’an.

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Bank of England Explores Digital Money, CBDC in New Discussion Paper

The Bank of England released a new discussion paper exploring digital currencies and central bank digital currencies (CBDC). The post Bank of England Explores Digital Money, CBDC in New Discussion Paper appeared first on BeInCrypto.

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UBRI Welcomes First University Partners in Africa, UAE and Iceland, Drives CBDC Research Forward

Ripple's UBRI welcomes the University of Capetown, Reykjavik University, and New York University Abu Dhabi to the leading university blockchain accelerator program. The post UBRI Welcomes First University Partners in Africa, UAE and Iceland, Drives CBDC Research Forward appeared first on Ripple.

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Norway to start digital currency tests after four years of research

The Norwegian central bank aims to find a preferred CBDC solution through new technical tests.

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Bahamas Ranks First in CBDCs, China’s Digital Yuan Third: PwC Report

Professional services firm PwC has given the Bahaman Central Bank Digital Currency (CBDC) the highest rank in a new report. The Caribbean island tops even China’s digital yuan, which is widely thought to be the most progressed CBDC.

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UK to Launch Exploratory Taskforce for CBDC

Sunak announced about the CBDC at the Innovate Finance Global Summit. He said: “We’re launching a new task force between the Treasury and the Bank of England to coordinate exploratory work on a potential central bank digital currency.

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U.S. Struggles To Keep Up As China Further Develops Its CBDC

The new U. S administration, led by President Joe Biden, is keeping a close watch on trends in China surrounding a possible digitized version of its national ‘Yuan’ currency. The Biden administration is primarily most concerned about the potential for this digitized Yuan to undermine the U.

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China’s CBDC Trial Expands to Hainan Province

The People’s Bank of China (PBOC) has expanded the trials of their CBDC to the Hainan Province. It has announced an event with the hopes of publicizing the use of the new digital currency. Members of the Sansha City government, including their staff, enterprises, and permanent residents, will be the main participants of this trial.

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Bank Of Japan Committee for CBDC Experimentation a ‘Necessary Step’

In a release dated March 26, 2021, the Bank of Japan (BoJ) announced the formation of a new committee to oversee experiments related to central bank-issued digital currencies (CBDC). The central bank said that it will conduct its CBDC research in three phases.

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China and Japan go full steam ahead with CBDC pilots

Asia’s largest economies are pushing forward with their respective CBDC trials, with six Chinese banks offering digital wallets and Japan establishing a new committee.

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Morgan Stanley makes crypto debut as BTC falls off its peak

From the launch of new digital asset products to CBDC rollout plans, here are…

The post Morgan Stanley makes crypto debut as BTC falls off its peak appeared first on Coin Journal.

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Bank of Korea Plans to Test the Adoption of CBDCs

Korea’s apex bank has announced the pilot phase for its CBDC. According to a spokesperson, the BOK will begin conducting tests within a controlled environment. The spokesperson stated that this would ensure the new digital currency’s workability and safety.

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Indian Crypto Industry Reacts as Government Presents Bill to Ban Digital Assets

Sadly, this year has come with a jolt of reality, showing that all the progress of 2020 was essentially fruitless. Yes to a CBDC, No to Private Cryptos Earlier this year, the Lok Sabha Bulletin confirmed that the Indian government had introduced a new draft regulation that will see the country ban all private cryptocurrencies […] The post Indian Crypto Industry Reacts as Government Presents Bill to Ban Digital Assets first appeared on BitcoinExchangeGuide.

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India: New Bill Seeks to Introduce CBDC, Ban ‘Private’ Cryptocurrencies

India continues to see-saw its stance toward cryptocurrencies. India Mulling Banning ‘Private’ Cryptocurrencies, Launching CBDC According to the Lok Sabha Bulletin published on January 29, the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, aims to stop the trading of digital currencies in India.

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China turns up pace on CBDC release, tests infrastructure prior to adoption

The yuan is not seen as a major currency. Could digitizing it change that? China is breaking new ground in the Shenzhen region and beyond.

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