Governments in Asia are quickly researching or implementing CBDCs. What does this mean for the region’s overdependence on the U.S. dollar?
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.
The Bank of Japan is keen to ensure the seamless integration of its central bank digital currency with the existing payment architecture.3021
Successful or not, the vote will bring crypto education to people who are not yet Bitcoin-savvy, 2B4CH founder said.12655
“We are looking at it and evaluating the best ways to interact and participate in this ecosystem,” a B3 executive said.3271
Cooperation between public and private sectors would be vital for a global CBDC system, says a new joint report.3499
Rising jobless claims in the U.S. sparked sell-offs in the dollar market. On the other hand, Bitcoin held onto its intraday gains.28810
The central bank of New Zealand has outlined the major benefits of CBDC designs based on blockchain technology.6034
Traders raised their bids for the decentralized exchange token, believing it would benefit from China's decision to classify all crypto transactions as "illegal."10424
The development marks another sign of the digital hryvnia project picking up steam.3132
A BIS report based on a multi-CBDC pilot also showed significant improvements in international remittance speed.3451
In the last 24 hours, the DEX sector has logged a combined profit of over 60%, while their centralized counterparts have grown by just 0.77%.7074
Bitcoin price is down but crypto investors still have a plethora of yield opportunities thanks to DeFi.10301
An analyst from global banking giant Deutsche Bank expects Bitcoin will enjoy a “first-mover advantage" over other cryptocurrencies for the foreseeable future.13358
PBoC maintains its anti-crypto stance despite local players experimenting with digital yuan-pegged stablecoins.27698
Losing the $3,000 mark just days before Friday's $1.55 billion ETH options expiry nearly doomed Ether longs, but derivatives data shows bulls are still in favor.6430