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Hong Kyung-sik, head of Bank of Korea's Banking and Financial Affairs Division, told an audience at the 'Hoyoung Viewing the Future of Payments' conference Tuesday that countries with developed payments infrastructures like Korea do not need a central bank digital currency (CBDC), Coindesk Korea reports. Hong
Despite an official ban on cryptocurrency trading imposed progressively in the region since 2016, China now appears to be throwing its full weight behind 'blockchain,' a type of distributed-ledger technology popularized by Bitcoin that many critics claim is of little use outside of it. A
The first-ever CBDC will be issued within the next five years, according to new joint research by IBM and OMFIF.
China has been reportedly developing its central bank-issued digital currency for a while and is believed to be ready to launch by China’s central bank, People’s Bank of China (PBoC).
Reuters is reporting that Sun Tianqi, chief accountant at China's State Administration of Foreign Exchange (SAFE), told financiers assembled at the Bund Summit in Shanghai this week that governments in emerging markets must regulate cryptocurrencies because they can be used to transmit capital illegally and could
Indian Finance Minister Nirmala Sitharaman has said that despite a sense of urgency kicked up by Facebook's proposal to create a global currency system (Libra), many countries remain cautious about 'rushing into' a cryptocurrency arms race, Business Standard reports. 'On our side, the Reserve Bank Governor (Shantikanta
The Central Bank of the Bahamas will launch its own fiat-based digital currency to ensure that the nation’s economy remains stable.
Yoni Assia, eToro’s CEO, recently weighed in on the issue of Central Bank Digital Currencies. He noted that this matter was no longer an issue of “if,” but of “how and when” because the development
In a presentation entitled 'The Future of Money: The Impact of Digitization, including “social coins” on Currency, Payments and Markets, Tommaso Mancini-Griffoli, Deputy Division Chief in the Monetary and Capital Markets Department from the IMF pitched the concept of a 'synthetic CBDC' (Central Bank Digital
Canada’s Central Bank, the Bank of Canada, is considering launching a digital currency that would enable the collection of how Canadians spend their money.
Deputy governor of France's central bank says lawmakers should consider developing standardized crypto regulations and CBDCs.
The Bank for International Settlements (BIS), popularly known as the 'central bank of central banks,' will be engaging in two projects at the BIS's newly-established Innovation Hub in Switzerland, one of which involves, 'examin(ing) the integration of digital central bank money into a distributed ledger technology
The Bank for International Settlements (BIS) has teamed up with the Swiss National Bank (SNB) in order to work on a Switzerland-based innovation hub that will initially conduct research into central bank digital currencies (CBDCs) and distributed ledger technology (DLT). Financial services provider SIX is
Two US congressman have asked the Fed to consider issuing a digital US dollar, in order to remain competitive in the global currency market.