News
European Central Bank President Christine Lagarde is reportedly weighing an early exit from the bank just as the EU enters a crucial phase for the digital euro.
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CBDC News
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.
- News
Joachim Nagel said euro-pegged stablecoins would offer the bloc more independence from US dollar-pegged coins soon to be allowed under the GENIUS Act.
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European lawmakers endorsed the ECB’s digital euro plans as a way to shore up the bloc’s monetary sovereignty, while reiterating that the central bank must remain independent.
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The six-month central bank pilot brings together market infrastructure providers, banks and Web3 companies to assess how core UK markets could move onchain.
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Hedge fund manager Ray Dalio warns that CBDCs will eliminate financial privacy and enable governments to tax, seize funds and cut off political opponents.
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The latest announcement from the People's Bank of China follows months of flip-flopping on privately issued yuan-pegged stablecoins.
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India is exploring cross-border use of the e-rupee to reduce payment costs, improve trade settlement efficiency and expand the rupee’s global role.
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European Central Bank executive Piero Cipollone has argued that rising geopolitical tensions make a European-controlled payments system a strategic necessity.
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The initiative comes as enforcement actions and pending market structure legislation raise questions about how privacy tools and open-source developers are treated.
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Crypto’s move into banks and state-backed systems is accelerating a clash between financial privacy and public ledger design, said Aleo’s Yaya Fanusie.
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India wants BRICS members to discuss linking their CBDCs for trade and tourism at a future summit, according to a Reuters report.
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In 2024, the Bank for International Settlements stepped back from mBridge, seeking to distance itself from sanctions-related speculation surrounding the platform.
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UK Prime Minister Keir Starmer scrapped plans to make digital ID mandatory for workers after a backlash over “Orwellian” surveillance fears.
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Economists urge EU lawmakers to back a public digital euro, warning that private stablecoins and foreign payment companies threaten Europe’s monetary sovereignty.
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China’s move to pay interest on the digital yuan is colliding with the GENIUS Act’s ban on stablecoin yields, intensifying questions over whether US digital dollars can remain competitive.
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