News

Former CFTC Chair Christopher Giancarlo says that Anti-Money Laundering and Know Your Customer measures are both outdated and constitutionally questionable and that crypto technology could do better.

Banque de France, Bundesbank and the MAS among central bank participants

Governor Kristi Noem of South Dakota has vetoed House Bill 1193, which sought to exclude cryptocurrencies from the state's definition of money. The governor believes that the bill would put South D

Congressman Tom Emmer made the anti-central bank digital currency comments to an audience at the Cato Institute, a libertarian think tank in Washington.

The Nigerian president-elect wants to review existing SEC digital asset regulations to stimulate economic growth.

Central bank digital currencies will give governments around the globe unprecedented power to surveil (and control) your financial activity.

Central banks used smart contracts and worked with FX providers to cut costs and risk

Chinese social media platform WeChat has incorporated the digital yuan in its payment app to boost the CBDC’s popularity.

The Central Bank of Iran progresses with CBDC development in anticipation of a visit by the Bank of Russia’s governor Elvira Nabiullina.

The bank concluded that a “hub-and-spoke” model between CBDC domestic systems could “reduce settlement and counterparty risk” and complete cross-border transactions in seconds.

The blockchain-based national eKYC banking platform aims to strengthen Anti-Money Laundering capabilities while countering terror financing.

While domestic payments have seen significant improvement in many jurisdictions in recent years, cross-border payments still face challenges such as high costs, low speed, limited access and insufficient transparency. The G20 has made it a priority to enhance cross-border payments a priority and, in response to this call for action, the BIS Innovation Hub is coordinating experiments on how this might be done.

In addition to offline functionality, RBI is gauging CBDC’s potential for cross-border transactions and linkage with legacy systems of other countries.

Treasury Under Secretary for Domestic Finance Nellie Liang examined some of the design issues that would shape a potential U.S. digital dollar.