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The BIS (Bank for International Settlements) has published a report pertaining to central bank digital currency (CBDC) and payments. Crafted in partnership with the HKMA (Hong Kong Monetary Authority), Bank of Thailand, People's Bank of China and the Central Bank of the UAE, the document
CBDCs are yet to prove they offer advantages over private sector initiatives
At a November 2020 virtual conference, Rob Kaplan said "it is critical that the Fed focuses on developing a digital currency in the coming months and years."
If the United States is still not ready for central bank digital currency, it will stay on the sidelines of tech and financial innovations.
Fed Chair Jerome Powell says there is no pressure to rush any central bank digital currency development plans.
Conflux will provide the technology to launch an offshore RMB stablecoin pegged to China’s CBDC, the digital yuan.
Bhutan has tapped the services of blockchain payments firms Ripple Labs Inc to design its Central Bank Digital Currency (CBDC), the Digital Ngultrum.
The company claimed its CBDC solution would allow Bhutan’s central bank to deploy a digital ngultrum “without compromising financial stability or monetary policy objectives.”
Banking giant HSBC echoes global stablecoin concerns, calling for regulation to be equivalent to its adoption level.
Preparations for e-yuan to be used in the winter games are at a final stage, says deputy governor
Crypto doesn’t pose a big risk for the financial system until it’s adopted enough to be less volatile, the NBU said.
Mastercard’s upcoming acquisition of CipherTrace demonstrates the need for payments giants to partner with crypto firms to enable digital asset innovation.
The Turkish government’s plans for cryptocurrencies draw a stark contrast to its central bank digital currency intentions.