Category: CBDC

Nepal Prepares to Issue Digital Currency, Drafts Necessary Amendments

Nepal Prepares to Issue Digital Currency, Drafts Necessary Amendments

A task force in Nepal has proposed legal changes allowing the country’s central bank to issue its own digital currency. The move comes after a study indicated that such an initiative is feasible and recommended certain provisions that would authorize the regulator to proceed with its realization. Nepal Central Bank Prepares Legal Ground for National […]

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Central Bank of Brazil Director Praises Bitcoin as a Financial Innovation, Talks Programmable Digital Real

Central Bank of Brazil Director Praises Bitcoin as a Financial Innovation, Talks Programmable Digital Real

Fabio Araujo, Director of the Central Bank of Brazil, has praised the properties of Bitcoin, saying it is a financial innovation using new technologies. To Araujo, Bitcoin was the catalyst for what is today known as Web3. At an event, Araujo also commented about the status of the development of the digital real, stating that […]

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CBDC Could Be ‘Holy Grail’ of Cross-Border Payments, ECB Says, Sees Bitcoin as Less Credible

CBDC Could Be ‘Holy Grail’ of Cross-Border Payments, ECB Says, Sees Bitcoin as Less Credible

Several solutions can potentially improve cross-border payments significantly and central bank digital currency (CBDC) could be the “holy grail,” according to the European Central Bank (ECB). In a new report, the eurozone’s monetary authority also claims stablecoins, among other options, are “problematic.” ‘Holy Grail’ of Cross-Border Payments in Reach Through CBDC, European Central Bank Insists […]

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Central African Republic Token Sale off to Slow Start — $1.26 Million Raised in Under 5 Days

Central African Republic Token Sale off to Slow Start — $1.26 Million Raised in Under 5 Days

The Central African Republic’s token sale appeared to have gotten to a slow start after less than 13 million out of the 210 million Sango coins were sold since the commencement of the sale on July 25. The country has claimed its decision to adopt bitcoin has won praise from “other African countries exploring the […]

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Bank Indonesia Prepares to Issue Digital Rupiah as Legal Tender for Digital Payments

Bank Indonesia Prepares to Issue Digital Rupiah as Legal Tender for Digital Payments

The central bank of Indonesia is working to issue a wholesale digital rupiah. The new currency is meant to be the only legal tender for digital transactions in the country while the regulator also wants to ensure that it will be exchangeable across borders. Digital Rupiah Concept Expected by Year End Indonesia’s monetary authority is […]

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Taiwan to Prohibit Purchasing Crypto With Credit Cards (Report)

Taiwan to Prohibit Purchasing Crypto With Credit Cards (Report)

Taiwan’s Financial Supervisory Commission (FSC) believes cryptocurrencies are risky and speculative assets. As a result, the regulator intends to prohibit the use of credit cards for crypto purchases. Taiwan to Ban Credit Card Crypto Purchases According to local reports, the FSC sent a letter to Taiwan’s Association of Banks earlier this month, asking credit card […]

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Reserve Bank of India Is Working on ‘Phased Implementation’ of Central Bank Digital Currency

Reserve Bank of India Is Working on ‘Phased Implementation’ of Central Bank Digital Currency

India’s central bank, the Reserve Bank of India (RBI), is working on a “phased implementation of a central bank digital currency (CBDC) in both wholesale and retail segments.” Necessary amendments have been made to the RBI Act, 1934 to allow the central bank to pilot and issue a digital currency. India’s Central Bank Digital Currency […]

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Governments Must Collaborate to Properly Regulate or Ban Crypto, Reserve Bank Of India Governor

Governments Must Collaborate to Properly Regulate or Ban Crypto, Reserve Bank Of India Governor

On July 19, India’s Finance Minister Nirmala Sitharaman said in a speech at the Lok Sabha, the lower house of India’s bicameral Parliament, that crypto is a danger to international regulatory arbitrage and that they should be blocked or banned. Sitharam explained that any attempt to regulate or ban crypto should be global because cryptocurrencies […]

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Harvard Professor Rogoff: Central Banks, Governments Are ‘Way Behind the Curve’ in Regulating Cryptocurrencies

Harvard Professor Rogoff: Central Banks, Governments Are ‘Way Behind the Curve’ in Regulating Cryptocurrencies

Harvard Professor of Economics and former chief economist at the International Monetary Fund (IMF) Kenneth Rogoff says central banks and governments are “way behind the curve” in regulating cryptocurrencies. He added that officials throw out the idea of having central bank digital currencies (CBDCs) “to distract the conversation.” Harvard’s Professor on Cryptocurrency Regulation American economist […]

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Bank of Indonesia: Crypto Could Strengthen the Global Financial System but There’s a Catch

Bank of Indonesia: Crypto Could Strengthen the Global Financial System but There’s a Catch

Doni Primanto Joewono – Governor of the Bank of Indonesia – argued that cryptocurrencies could provide financial inclusion and benefit the global monetary network. However, the sector will be much more stable if it functions under a comprehensive regulatory framework, he added. Crypto Might be Risky but Provides Certain Benefits During a G20 meeting in […]

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