The rise of CBDCs is inevitable but not risk-free | Opinion

To make CBDCs successful, global and local financial institutions need to invest in digital currency education, analyze various use cases, and create their digital currency strategy.

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United Kingdom’s digital pound meets public backlash — Why?

The use of physical currency for transactions is plummeting globally, so why is the U.K. so tentative with its own central bank digital currency?

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Bitcoin (BTC) Down to Almost Two-Month Low of $26,378 After Peter Brandt's Warning

Leading digital currency keeps dropping since CPI release day

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First Mover Asia: Macau’s Digital Currency Embrace Could Be a Nightmare for Its Casino Industry; Bitcoin Points Upward

The Special Administrative Region passed a bill that would create a legal framework for accepting digital currency, but would also allow China to monitor Chinese nationals visiting the territory; the largest cryptocurrency by market cap is trading above $19.5K.

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Digital Currency Could Soon Become Legal Tender In Macau – Here’s How

Macau is inching closer to the eventual adoption of a digital currency as it strives to develop a more comprehensive set of measures to prevent the flow of dirty money and tax evasion in the largest gambling hotspot in the planet.

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UK’s government-backed Millicent Labs demos a retail full-reserve digital currency

The issuer says the currency avoids pitfalls of central bank digital currency and stablecoins while bridging blockchain and traditional financial technology.

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Digital Dollar Would Secure Greenback as Global Reserve Currency, Lawmaker Argues

U.S Rep. Jim Himes (D-Conn.) published a report supporting the introduction of a central bank digital currency on Wednesday.

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Report: 'Digital currency will become legal tender in the next...'

Crypto adoption across the world is growing at a much faster pace. New data suggested four in five American retail organizations are expecting digital currency payments in the next five years. TheyThe post Report: 'Digital currency will become legal tender in the next...' appeared first on AMBCrypto.

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Myanmar’s military government considers launching digital currency: Report

Major General Zaw Min Tun said rolling out a digital currency would "help improve financial activities in Myanmar."

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SEC Gary Gensler’s Recent Comments Might Turn Disastrous For Ethereum In The Long Run

Being the first most valued digital currency by market cap has given Bitcoin a lot of free PR and padded its credibility significantly. However, being the second most valued digital currency and holding onto the spot for years, is almost equally just as commendable for Ethereum.

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AXIA Coin launch on KuCoin signals new contender in the digital currency space

AXIA Coin (AXC), an asset-supported digital currency, just completed a successful launch on KuCoin. Starting July 12, traders had the opportunity to mine AXC by staking USDT, KCS, or ETH on the populaThe post AXIA Coin launch on KuCoin signals new contender in the digital currency space appeared first on AMBCrypto.

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Nigeria’s Central Bank Could Launch Digital Currency By End of 2021

The digital currency project could be ready for a pilot phase within the next… The post Nigeria’s Central Bank Could Launch Digital Currency By End of 2021 appeared first on Coin Journal.

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The CBN Says Nigeria Will Have a Digital Currency Before End of Year

Nigeria is likely to have its own central bank digital currency (CBDC) by the end of the year, an official with the Central Bank of Nigeria (CBN) has said. In his remarks following the bankers’ committee meeting, Rakiya Mohammed, who is the director of information technology at CBN, also revealed that this “digital currency would […]

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AK-47 Gunmaker Sets Sights on Digital Currency

Kalashnikov firearms manufacturer has expressed its desire to switch to settlements using digital currency. The post AK-47 Gunmaker Sets Sights on Digital Currency appeared first on BeInCrypto.

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UK government establishes central bank digital currency task force

The United Kingdom is the latest country to begin exploring the possibility of creating a central bank digital currency.

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Sweden’s Riksbank completes the first phase of its digital currency trial

Riksbank, Sweden’s central bank, has finished the initial part of its digital currency experiment. The authority unveiled this news through a report, noting that it ran into some serious issues that it must address before Swedes can use the e-krona for daily purchases.

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Eastern Caribbean Central Bank's DCash digital currency goes live

The ECCB has launched a regional central bank digital currency in partnership with Caribbean fintech outfit Bitt.

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Economist warns of dystopia if ‘Bitcoin Aristocrats’ become reality

Critics of the digital currency have visions of the future every bit as silly as maximalist's.

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China and Hong Kong Prepare for Cross-border Digital Yuan Testing

China’s central bank and the Hong Kong Monetary Authority (HKMA) are gearing up to conduct a pilot test of the e-yuan central bank digital currency (CBDC) system. The move further broadens the scope of the digital currency electronic payment (DCEP) with plans to introduce the currency in Macau as well.

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China’s Digital Currency to Roll-Out In A Second City After Successful Trials In Shenzhen

On Monday, local Chinese media The Paper reported that the district of Suzhou in Xiangcheng would launch a lottery to give away the country’s central bank digital currency (CBDC) in a bid to test the real-use cases of the digital currency.

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Alibaba Founder Says Digital Currencies Could Redefine Meaning of Currency

Chinese billionaire Jack Ma highlights the importance of digital currency adoption

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New Zealand will not adopt a digital currency for now

Despite not being ready to introduce its own digital currency, the Reserve bank of...

The post New Zealand will not adopt a digital currency for now appeared first on Coin Journal.

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Public Corda blockchain network gets its first digital currency, XDC

XDC, the first Corda Network digital currency has been launched today by Cordite Society Ltd, a co-operative society registered in the UK, who have leveraged the existing UK legal structure for mutual societies to operate a digital currency, providing the first onshore legal structure for decentralized finance.

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The Bahamas Is Planning To Make Its ‘Sand Dollar’ Digital Currency Available To A Global Audience

In late September, the Bahamas announced that it would officially launch its central bank digital currency known as the “Sand dollar” this month. According to reports, the country’s central bank is planning to make the CBDC interoperable on a global scale.

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The IMF, G20 and BIS Gear Up for the Central Bank Digital Currency Era

New reports on digital currency design principles and regulatory standards show just how quickly the world’s bankers are moving.

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Shenzhen to hand out 10 million digital yuan in currency giveaway

China is promoting its central bank digital currency with a public $1.5 million giveaway.

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PBOC Argues that China Needs to Be Leader in National Digital Currency Space to Shake Global Dollar Dependency

Coinspeaker PBOC Argues that China Needs to Be Leader in National Digital Currency Space to Shake Global Dollar DependencyNow China needs to establish a new payment system network to support its digital currency growth.

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China will demo its digital currency in major cities

The People’s Bank of China has approved the deployment of its Digital Currency Electronic...

The post China will demo its digital currency in major cities appeared first on Coin Journal.

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China’s Digital Currency Targets Alipay and WeChat Pay

China is dedicated to becoming the first country to roll out a central bank digital currency (CBDC). Its Digital Currency Electronic Payment (DCEP) system aims to replace all physical currency in the country, including coinage.

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US Legislators Want USD Digital Currency

US legislators have proposed the development of a US dollar digital currency that will rival the soon to be launched Yuan cryptocurrency. According to the lawmakers, the move would help… The post US Legislators Want USD Digital Currency appeared first on CoinCentral.

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Japan’s largest financial firm plans to issue its digital currency in 2020

During the 4th quarter of 2020, Japan’s largest financial firm (MUFG), also the fifth-largest bank in the world will kickstart the launch of its own digital currency, that is if everything goes as planned.

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Chinese Central Bank Partners with E-commerce Giant for CBDC Test

Chinese food delivery and e-commerce giant Meituan Dianping is the latest establishment to trial China’s digital currency electronic payment (DCEP) project; the country’s planned central bank digital currency (CBDC).

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Bank of England mulls digital currency as Chinese efforts surge

England’s premier bank announced Monday it is considering digital currency research and development. The post Bank of England mulls digital currency as Chinese efforts surge appeared first on CryptoSlate.

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French Central Bank Puts Out Call for Digital Currency Experiments

France's central bank is calling for digital currency proposals with an experiment that moves it to the front of Europe's CBDC debate.

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Sweden’s Riksbank Launches Its Central Bank Digital Currency (e-Krona) Testing

Sweden is getting closer and closer to issuing its own central bank digital currency (CBDC), as it already started testing the e-krona. The pilot program for the new digital currency is supposed to last for a year and thus, to end in February 2021.

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Conservative U.S. Think Tank Denies Need for Federal Digital Currency

The government should ensure consumers can use the preferred currency instead of launching a digital currency, according to U.S. think tank the Heritage Foundation

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Potential US Dollar Digital Currency Being Examined by Federal Reserve Governor

United States banking officials appear to be examining the feasibility of a dollar-based Central Bank Digital Currency (CBDC), a talking point that has been working the rumor mill for some time now.

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Cambodia to Launch Digital Currency with Support of 11 Banks

Two years after reports of a Cambodian cryptocurrency, the country is set to launch a central bank digital currency (CBDC) payment system. Project Bakong to Feature Centralized Digital Currency According to Cambodian daily Phnom Penh Post, the country’s central bank is set to roll out “Project Bakong,” a blockchain-powered money transfer platform that features a CBDC.

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China’s Digital Currency Still has No Launch Date But Will Continue its Development in 2020

China’s central bank said on Sunday that it doesn't have a launch date for its sovereign digital currency but will continue with its research and development, as per the local reports. A report in August said the central bank-backed digital currency could be launched as early as November but that is long gone. Last month, […]

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Unlike Libra, Digital Yuan Will Not Need Currency Reserves to Support Value: PBOC Official

PBOC wants to distinguish its own digital currency from rival private initiatives.

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European Central Bank President Envisions Direct Digital Currency Use

The European Central Bank is exploring the potential for a digital currency, which would allow direct injections of liquidity to consumers, said Christine Lagarde, the bank’s new president. Digital Currency Optimism from IMF to ECB In her first hearing before the European Parliament as the head of the ECB, Lagarde continued spreading the message that central banks may adopt a digital currency.

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Saudi-UAE Leaders Confirm Forthcoming Jointly-Issued Digital Currency

Saudi Arabia and the United Arab Emirates discussed the countries’ plans for an interbank digital currency

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Swedish Central Bank Outlines 6-Step Digital Currency Plan

Sweden’s Central Bank Governor has outlined a six-step plan on how the state bank can implement its own digital currency. He outlined a checklist that needs to be completed before the idea is fully implemented.

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Tunisia Becomes First Country to Issue a Central Bank Digital Currency

Tunisia has announced the launch of its digital currency, the ‘E-dinar. ’ With this, the tiny North African country claims to be the first country to launch a central bank digital currency (CBDC).

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China’s DCEP to Be World’s First National Digital Currency, Says CCIE Vice Chairman

It looks like the Chinese government is going full-throttle on its roadmap to roll out a yuan-pegged digital currency. There’s no official word on a launch date as of yet, but judging by the recent chain of events, it is highly likely that the Chinese Digital Currency or Electronic Payments system (DCEP), will be rolled […] The post China’s DCEP to Be World’s First National Digital Currency, Says CCIE Vice Chairman appeared first on BeInCrypto.

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Bank of Canada to Fight Crypto with Own Digital Currency

The Bank of Canada (BoC) is thinking about developing a digital currency that would eventually replace fiat money completely, according to local media platform The Logic. Govt-Backed Digital Currency for More Control Bitcoin came out more than a decade ago as a decentralized, peer-to-peer currency system that enabled privacy and bypassed government control.

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Bank Of Canada Considers Its Own Digital Currency; An Easy Way To Track Spending Habits

The Bank of Canada is among the regulatory authorities around the world looking to launch their own digital currency. A recent internal report presented to its Governor, Stephen Poloz, highlighted some benefits that could come with this innovation.

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RBC Analysts: Squashing Libra Could Boost China’s Digital Currency

China’s digital currency could become the dominant digital currency if U.S. regulators dismiss Facebook's Libra

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China has no idea know when it will launch its digital currency

Despite reports last month that China was readying itself to deploy its own government digital currency, it now seems the country is not so surefooted regarding the asset’s roll out. In a press conference in Beijing yesterday, The People’s Bank of China’s (PBoC) governor Yi Gang said that there is “no timetable” for the launch of its new digital currency, South China Morning Post reports.

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