Panama Introducing Legislation to Make Bitcoin Legal Tender

Panamanian Congressman Gabriel Silva has introduced a bill to regulate the use of digital currency within the nation. The proposed bill in Panama would recognize bitcoin as a national alternative payment method.

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Nigeria’s central bank issues draft guidelines on e-naira CBDC project

The CBN says the proposed central bank digital currency will offer parity of value and will operate as a non-interest-bearing CBDC.

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Ukraine Minister Says First Digital Currency Pilot Could Focus on Staff Salary Payments

The head of Ukraine’s Ministry of Digital Transformation has said that paying the staff of the ministry in the proposed central bank digital currency (CBDC) is under consideration.  Ukraine CBDC Pilot Could Initially Involve Salay Payments In a recent interview with local Ukraine news outlet TSN, Mikhail Fedorov, who is also the country’s deputy PrimeRead More

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Bitcoin is Now Cash According to a New Proposed Law

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Africa Will ‘One Day Have a Common Currency’ Says Secretary General of African Continental Free Trade Area

The secretary-general of the African Continental Free Trade Area (AFCFTA) secretariat, Wamkele Mene, says Africa will “one day have a common currency” via a proposed “Pan-African Payment and Settlement System (PAPSS).

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Vietnamese Government Planning to Conduct CBDC Pilot

Vietnam has become the latest country to explore central bank digital currency (CBDC), although the government has said that a sovereign digital currency would not replace the country’s fiat.  Vietnam’s Proposed Digital Currency not a Cash Replacement According to Nikkei Asia on Monday (July 12, 2021), the decision by the Vietnamese government to explore theRead More

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Spain: Ruling Party Proposes the Creation of a National Digital Currency

The Spanish are now showing interest in joining the central bank digital currency (CBDC) bandwagon. Spanish Political Party Proposes CBDC According to a report by Spanish newspaper El Economista, the Spanish Socialist Party (PSOE) – the governing political body in Spain – has proposed the creation of a Spanish CBDC. For the uninitiated, the PSOERead More

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Bitcoin as legal tender – Paraguay follows El Salvador’s lead

South American nation, Paraguay, has proposed a bill that will legally recognize Bitcoin (BTC/USD) as its official currency. The move is coming after El Salvador made a similar proposal, making Bitcoin legally accepted for the payment of goods and services.

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Indian Government Review Bill That Proposed Ban on Cryptocurrencies

It has been reported that the Indian government and top industry stakeholders are revisiting provisions of the law that advocated a ban on cryptocurrency. The bill in question is dubbed the Cryptocurrency and Regulation of Official Digital Currency Bill 2021 that was developed years back but never introduced during parliament’s budget session. Bloomberg Quint recentlyRead More

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Swedish Central Bank Working With Commercial Lender on CBDC

The tests will focus on how the country’s proposed digital currency, the e-krona, would handle payments in the real world. The post Swedish Central Bank Working With Commercial Lender on CBDC appeared first on BeInCrypto.

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Bank of England and HM Treasury Create Taskforce for Proposed CBDC Project

The Bank of England (BoE) and Her Majesty’s Treasury (HM Treasury) have jointly created a task force for the UK’s proposed central bank digital currency (CBDC) project. Taskforce to Explore Modalities for UK’s CBDC In a press release published on Monday (April 19, 2021), the BoE and the HM Treasury instituted a Taskforce that wouldRead More

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Thailand's Central Bank announces CBDC testing plans for Q2 2022

It would seem that Thailand has jumped on to the Central Bank Digital Currency bandwagon after it issued a press release on Friday calling for public feedback on its proposed CBDC roadmap. The Bank ofThe post Thailand's Central Bank announces CBDC testing plans for Q2 2022 appeared first on AMBCrypto.

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Bank of Thailand to begin central bank digital currency tests in 2022

Thailand’s central bank is calling for public comments on its proposed plan to launch a sovereign digital currency within the next five years.

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China Sets the Stage for Central Bank Digital Currencies, Proposing Global Rules for Nations

China recently proposed a set of global guidelines on central bank digital currencies (CBDC) earlier this Thursday, discussing potential uses and implications of a sovereign digital currency. With the coronavirus pandemic exposing inefficiencies in traditional payment systems, there has been a growing need to digitize legacy financial infrastructure.

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Chinese Commercial Bank Tests Biometric Hardware Wallet for Digital Yuan Payments

The Postal Savings Bank of China (PSBC), a Chinese commercial bank, has created another hardware wallet for digital yuan payment, as part of China’s efforts to carry out large-scale trials for its proposed central bank digital currency (CBDC) project.

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Sweden Is Working with Corda’s DLT for the e-Krona CBDC Proof-of-Concept

The Swiss central bank is already working with Corda’s Distributed Ledger Technology (DLT) for its CBDC proof-of-concept in the proposed e-krona digital currency. Cecilia Skingsley, the bank’s deputy governor, confirmed this development while speaking yesterday at the CFC St.

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Swedish Bankers Express Concern Over Central Bank’s e-Krona Plans

While Sweden’s central bank is exploring the possibilities of creating its proposed central bank digital currency (CBDC) known as the e-krona, bankers in the country do not seem thrilled about the idea, as they are worried that a CBDC could affect the banking system.

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Bankers Fear Sweden’s Proposed Digital Currency May Fundamentally Change Banking

Swedish bankers have expressed concerns over the country’s proposed CBDC dubbed e-krona according to a Reuters report on Tuesday. This pipeline CBDC has been in the works for over a year and is being considered for mainstream roll out by Riksbank, Sweden’s monetary authority.

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Bankers in Sweden express concerns over e-Krona digital currency project

Banks in Sweden are now concerned with regard to the country’s proposed CBDC project, the e-krona, which they believe could have a significant impact on their industry.  Sweden, which is seeing The post Bankers in Sweden express concerns over e-Krona digital currency project appeared first on AMBCrypto.

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Bank of Russia Fields Banking Industry Concerns Over Digital Ruble Proposal

Russian banks fear being left out of the central bank's proposed digital currency system, according to a report.

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US Regulator OCC Proposes ‘Fair Access’ to Banking Services For All Including Crypto Companies

The Office of the Comptroller of the Currency (OCC), the US's national bank regulator, has proposed a rule that would forbid banks from providing their services to legal industries, including cryptocurrency companies.

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ECB President Christine Lagarde Welcomes Public’s Opinion on CBDC

European Central Bank President Christine Lagarde said policymakers are “exploring the possibility of launching a digital euro. ” On  Nov. 1, Lagarde tweeted that the ECB is looking to hear the views of consumers and stakeholders on the proposed central bank digital currency (CBDC) and opened up the floor to public consultation.

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Digital Ruble: Russia Unveils Plans to Test Central Bank Digital Currency

As China is actively testing its digital yuan, Russia is now planning to build and test a central bank digital currency, the digital ruble. Meanwhile, the Bank of Russia has proposed limiting the amount of bitcoin retail investors can buy.

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US Federal Reserve Actively Working on Digital Dollar

The Federal Reserve Board of Governors and several Federal Reserve Banks are actively working on the digital dollar. Legislation has proposed that each American could have an account at the Fed for transacting in the central bank digital currency.

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A new Israeli draft proposes exempting Bitcoin from taxation

A new proposal by the Israeli lawmakers might have a massive impact on Bitcoin, as the recent draft proposed to start treating the coin as a currency. If the proposal ends up becoming law, Bitcoin will officially be exempt from tax purposes.

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Israeli Lawmakers Plan to Exempt Bitcoin From Capital Gains Tax in Draft New Law

Israeli lawmakers have proposed in a draft new law to treat bitcoin as a currency instead of an asset for tax purposes, local media reported. According to a report from Globes, four legislators from the Yisrael Beiteinu political party presented the Income Tax Ordinance (Taxation of the Sale of Digital Currencies) bill in the Israeli […] The post Israeli Lawmakers Plan to Exempt Bitcoin From Capital Gains Tax in Draft New Law appeared first on Bitcoin News.

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Israeli regulators propose Bitcoin be taxed as a currency, not an asset

“The regulatory reality in Israel is not adapted to the existing reality in the field,” the proposed bill states.

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OCC Needs to Provide Regulation Clarity to Protect Users and Businesses: Senate Banking Committee

The chair of Senate’s powerful committee in charge of banking, Sen. Mike Crapo (R-Idaho), has asked the Office of the Comptroller of the Currency (OCC) to update his committee on its recent Advanced Notice of Proposed Rulemaking in regards to crypto services.

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Bank of Korea Set to Select CBDC Pilot Program Consulting Partner

South Korea’s central bank has disclosed details for a proposed consulting partnership as part of its second stage of preparation for launching a central bank digital currency (CBDC). According to the Bank of Korea (BOK), the desired consulting partner will be a local firm that will help the BOK build the architecture for the proposed […] The post Bank of Korea Set to Select CBDC Pilot Program Consulting Partner appeared first on BeInCrypto.

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U.S Banks and Big Tech Ask the OCC for More Clarification to Issue Crypto Services

The United States Office of the Comptroller of the Currency (OCC) has received over 90 responses from various stakeholders’ in the financial services sector on its advanced notice of proposed rulemaking (ANPR) issued last month.

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Japan: Central Bank’s Top Economist to Lead Department Researching CBDC

Japan continues to intensify efforts in its proposed central bank digital currency (CBDC) project as the country’s central bank has appointed its top economist to oversee the department conducting research on CBDC.

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US Legislators Want USD Digital Currency

US legislators have proposed the development of a US dollar digital currency that will rival the soon to be launched Yuan cryptocurrency. According to the lawmakers, the move would help… The post US Legislators Want USD Digital Currency appeared first on CoinCentral.

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Bank of Canada Experts Say CBDC Model Should Be Made Accessible

Some analysts from Canada’s central bank, the Bank of Canada (BoC), opined that some of the key characteristics of a proposed central bank digital currency (CBDC) model should be accessibility, efficiency, affordability, and resilience.

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China CBDC Leak Shows Alleged Video of RMB to Digital Yuan Conversion

A leaked video has reportedly emerged in China showing the conversion of renminbi (RMB) into digital yuan for use in the country’s proposed digital currency electronic payment (DC/EP) project. According to a tweet by Chinese crypto news outlet 8BTCNews, the video appeared on WeChat.

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Chinese Officials Propose East Asian Stablecoin

Chinese officials proposed a regional stablecoin backed by four major Asian currencies. The proposed digital currency is meant to stimulate trade between China, Japan, and Korea. A Cross-Border Currency Shen... The post Chinese Officials Propose East Asian Stablecoin appeared first on Crypto Briefing.

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Iranian Parliament Proposes to Regulate Cryptocurrencies Under ‘Currency Smuggling’ Laws

The Iranian parliament has proposed to regulate cryptocurrency exchanges and digital currencies under the existing ‘foreign currency exchange’ regulations and ‘money smuggling’ laws, reported a local daily.

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China: Central Bank Inching Closer to CBDC Issuance

China has reportedly made significant progress with the basic functions of its proposed central bank digital currency (CBDC) based on patent filings submitted by Chinese fintech giant Alipay. Beijing Inching Closer to CBDC Issuance According to the Global Times, Alipay filed five patents related to its work on China’s planned CBDC between January 21 andRead MoreRead More.

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2020 US Presidential Candidate Proposes Launch Of AmeriCoin Backed By ‘All’ Federal Assets

According to Kokesh, the proposed token will enable the American government to relinquish power back to the locals. The AP press release further wrote that AmeriCoin will develop a new monetary system that replaces the outdated and largely expensive fiat currency for the American people.

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National Crypto Rupee Proposed in Indian Draft Blockchain Strategy

Just a week after the Reserve Bank of India confirmed legal status for crypto currency, a draft national strategy on blockchain has called for an official digital rupee. India to Advance in Blockchain Tech According to reports, the National Institute for Smart Governance (NISG) has submitted a draft strategy on blockchain for stakeholder comments which will help define the ecosystem for distributed ledger technology and crypto in India.

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Does Bitcoin Realize Henry Ford’s Dream Of Energy Currency?

Almost 100 years ago, industrialist and automobile magnate, Henry Ford, proposed an ‘energy currency’ to replace gold. Does Bitcoin finally fulfil some of the promise of this ‘energy currency’? Yes, according to a recent Medium post by Capriole Investments.

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New US Bill Could Make Small Crypto Transactions Tax-Exempt

U. S. Congress has introduced a bill that could make it easier for consumers to spend their Bitcoin. Representatives proposed the bill on Thursday, Jan. 16. Known as the Virtual Currency Fairness Act of 2020, the bill eliminates the need for consumers to calculate taxes on crypto transactions that result in capital gains under $200.

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New U.S. Bill Could Make Small Crypto Transactions Tax-Exempt

U. S. Congress has introduced a bill that could make it easier for consumers to spend their Bitcoin. Representatives proposed the bill on Thursday, Jan. 16. Known as the Virtual Currency Fairness Act of 2020, the bill eliminates the need for consumers to calculate taxes on crypto transactions that result in capital gains under $200.

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The stablecoin regulation landscape for 2020

With the announcement of the proposed Libra digital currency in 2019, even skeptical officials were forced to accept that crypto assets are here to stay. Stablecoins are seen as a priority for 2020, with national and global regulators publishing a variety of stablecoin research across the last 12 months.

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RBA to Block Facebook’s Libra in Australia

Australia is the latest country to reject Libra — Facebook’s proposed digital currency payment project. The country’s central bank also says sovereign digital currencies are unnecessary given that commercial banks already have working electronic payment solutions.

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British Virgin Island announces a USbacked digital currency

CoinMarketCap Daily Newsletter Your daily newsletter for 4 December, 2019 “There's only one corner of the universe you can be certain of improving, and that's your own self.” - Aldous Huxley In today's newsletter, we will be covering: Ethereum's proposed hard […] The post British Virgin Island announces a USbacked digital currency appeared first on CoinMarketCap.

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Hydrostandart.io ICO

Our civilization is now on the threshold of the fourth industrial revolution, which will be characterized by a combination of technologies that erases the boundaries between the physical, digital and biological spheres.

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Hard Problems in Cryptocurrency: Five Years Later

Special thanks to Justin Drake and Jinglan Wang for feedback In 2014, I made a post and a presentation with a list of hard problems in math, computer science and economics that I thought were important for the cryptocurrency space (as I then called it) to be able to reach maturity.

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China’s Digital Currency and US-China Relations

The US blocking China’s proposed digital currency efforts could be worse than the two large economies working together to establish global governance, manage the disruptions and harness the tech for global growth,.

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Turkey could be ready to Launch National Digital Currency in 2020

Turkey’s central bank is reportedly looking to finalize testing protocols for its proposed national digital currency. With economic struggles worsening in the country, the move might signal an attempt by the government to gain a foothold in the emerging digital landscape.

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