U.S. presidential candidate Vivek Ramaswamy slammed Gary Gensler and the SEC at the Republican Party presidential debate.
A central bank digital currency, or CBDC, is a digital version of a region’s fiat currency, put out by the region’s monetary authority. CBDCs gained a significant spotlight in 2020, with numerous countries expressing interest in their own versions of the asset type. Some countries pushed faster than others toward their own native digital currency. China, for example, moved quickly toward the prospect of its own CBDC, called the digital yuan.
The Bahamas burst on the central bank digital currency market in 2020 with the first CBDC. Called the Sand Dollar, the country’s CBDC is a national digital currency for the region, holding the same value as the Bahamian dollar. CBDCs differ from crypto-native stablecoins put out by crypto industry entities. Such stablecoins aim to track the value of underlying assets, such as the U.S. dollar, although the stablecoins themselves are not official regional currencies and are often overseen by companies.
From Thailand to the Eastern Caribbean, the CBDC experience has been one of government waste. So why do financial authorities keep pushing them?1012
The central banks of Italy and South Korea announced a memorandum of understanding in the development and deployment of CBDCs.5131
A U.K. parliamentary committee fears an official launch would demand significant investment and that the benefits may not outweigh the risks.6319
The committee’s report recommends imposing lower initial limits on the value of retail digital pounds to alleviate the risk of potential bank runs amid market instability.4423
The Solomons join tiny island nations worldwide at the forefront of CBDC development.9417
People who were aware of CBDCs were more reluctant to adopt the technology when compared with those who didn’t know about it.1997
From legal issues to hackers, launching a CBDC is fraught with risks, and BIS has a big list of them to consider.8814
The Bank for International Settlement’s Project Tourbillon features two eCash prototypes, the first providing “unconditional payer anonymity” and the second being “more resilient” in security terms.1448
A total of four foreign banks have integrated China’s e-CNY CBDC thus far.3268
Participants will be restricted to using the CBDC only for payment, without an option to store, exchange or send it to other users.5673
The CBDC-like bakong provides digital payment services in riel and the U.S. dollar. It has been steadily extending its regional scope.6849
Milei won over 55% of the votes, with 99% of the votes counted in the run-off presidential election.9566
Wallis clarifies that financial inclusion aims to extend financial services to individuals worldwide, especially those with low incomes and no ties to financial institutions.7166
The Monetary Authority of Singapore has unveiled its plan to launch a live wholesale CBDC used for settlements by local banks.3758