News
Ukraine’s newly signed law On Payment Services requires close cooperation between the National Bank of Ukraine and private startups in the payment market.
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Central Bank News
A central bank is the main entity responsible for a region’s money system. Some of the world’s prominent central banks include the eurozone’s European Central Bank, the United States Federal Reserve, the Bank of Japan, the Bank of England, the Reserve Bank of India and the People’s Bank of China. Central banks supervise a number of economic aspects regarding their respective regions, including money supply management.
A central bank digital currency, or CBDC, serves as a digital form of a region’s currency. A CBDC could possibly be called a central bank cryptocurrency, although because a CBCD is essentially a digital form of fiat currency, such assets are not decentralized and are not the same as the crypto assets native to the cryptocurrency industry.
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Digital currencies are primed to reinvent trade between African countries.
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A new survey of 3,000 Russians suggested that most people strongly disagree with receiving salary payouts in a state-controlled digital currency.
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The Bank of Russia’s new stock exchange recommendations do not apply to central bank digital currencies and authorized digital assets issued in Russia.
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ConsenSys, a major Ethereum software company, will also contribute its technology to South Korean CBDC simulations led by Ground X.
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Bitcoin continues its recovery from the China mining debacle, but price action remains delicate in a low-volume market.
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The Bank of England’s latest Financial Stability Report took stock of the massive increase in crypto prices and trading activity this year.
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The Bank of Korea plans to select an operator to run a blockchain-based CBDC pilot next month that will test a digital won in various use cases.
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"There is also no doubt in our mind that a major central bank will soon launch a digital currency and we expect this to happen within the next three years," said Guardtime.
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A new report released by the triumvirate of global finance argues that central bank digital currencies will benefit worldwide development.
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The BOT said it may be forced to coordinate with the Securities and Exchange Commission to ensure crypto payments do not pose "extensive risks to the general public or the economic and financial system."
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The central banks of France and Singapore are working on a digital currency interoperability system supporting multiple global CBDCs.
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While Visa and other major private payments networks see the potential of stablecoins, China’s central bank believes they pose serious risks to global financial systems.
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The Bank of Jamaica is getting ready to begin testing its planned central bank digital currency in collaboration with financial institutions in the country.
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Monobank is seeking approval from the National Bank of Ukraine to launch its Bitcoin debit card later this month.
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