Iran looking to pilot its sovereign digital currency

Iran has been paying a lot of focus to cryptocurrencies going by its recent developments. A recent report states that the country could soon unveil a pilot for a central bank digital currency (CBDC).

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Iran Reportedly Gearing up for CBDC Pilot in the Nearest Future

Iran’s central bank is reportedly looking to begin the pilot phase of its proposed central bank digital currency (CBDC) project.  Iran’s CBDC Pilot to Happen Soon According to the Iranian Labour News Agency, Mehran Moharamian, the vice governor for IT affairs at the Central Bank of Iran, believes that CBDCs could be the solution toRead More

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Report: e-CNY app downloads skyrocket in China ahead of Winter Olympics

China's e-CNY prototype, a centrally-backed digital currency, went live in select cities earlier this month. As the country is looking to officiate its CBDC during Winter Games, scheduled to take pThe post Report: e-CNY app downloads skyrocket in China ahead of Winter Olympics appeared first on AMBCrypto.

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'We are definitely almost there,' Zimbabwe’s central bank governor on CBDC

Zimbabwe’s central bank Governor John Mangudya said in a recent interview, that the country is looking at a digital currency backed by the regulator at the moment, rather than cryptos like Bitcoin.

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Weekly Report: India looking to transform its crypto sector, potential CBDC trial run on the way

The top cryptocurrencies grabbed headlines this week following a market-wide market tumble that saw… The post Weekly Report: India looking to transform its crypto sector, potential CBDC trial run on the way appeared first on Coin Journal.

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Report claims 'full-scale mCBDC networks' could save $100B per year

Many powerful stakeholders are desperate to cut down on costly cross-border remittance fees. In this context, the IMF had noted that more than 100 countries are reportedly looking into CBDC developmenThe post Report claims 'full-scale mCBDC networks' could save $100B per year appeared first on AMBCrypto.

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Why Japan 'currently has no plan to issue CBDC'

CBDCs are not only related to finance but diplomacy as well. With China now incentivizing users to pay with its digital renminbi [RMB] and South Korea also looking into a digital won, Japan has littleThe post Why Japan 'currently has no plan to issue CBDC' appeared first on AMBCrypto.

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Brazil Stock Exchange Looking to Provide Oracles for CBDC

Brazil Stock Exchange looking to bolster the utility of Brazil’s anticipated CBDC, the real, by using oracles The post Brazil Stock Exchange Looking to Provide Oracles for CBDC appeared first on BeInCrypto.

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Reserve Bank of India mulls first steps toward an eventual CBDC

RBI is looking for ways to test a CBDC while causing little to no disruption for the bank’s status quo.

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Central Bank of Nigeria Looking to Launch CBDC in 2021

An official of the Central Bank of Nigeria (CBN) stated that the CBN is planning to issue its central bank digital currency (CBDC) before the end of 2021. CBN’s CBDC Project to Improve Foreign Remittance Transfers According to the News Agency of Nigeria on Thursday (June 10, 2021), Rakiya Mohammed, an IT specialist at theRead More

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China Looks To Leverage Blockchain In Economy And Governance

China is looking to leverage the potential of blockchain technology, according to a government release. Even as it uses the nascent technology to foster its central bank digital currencies (CBDC) program, China aims to apply blockchain in every area of its booming economy.

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Indonesia Central Bank Looking to Launch a Sovereign Digital Currency

Bank Indonesia (BI), the central bank of the Republic of Indonesia, has joined other apex banks globally to explore central bank digital currency (CBDC), as the bank is planning to launch its digital currency amid a spike in online transactions.

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Bank of Korea Planning Mock Test to Trial CBDC Functionality

The Bank of Korea (BOK), South Korea’s Central bank is looking to research the usefulness of launching a central bank digital currency (CBDC) through a mock test, although the apex bank is not keen on issuing a sovereign digital currency.

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HKMA Ready to Expand Cross-Border Digital Yuan Test After Successful Pilot

The Hong Kong Monetary Authority (HKMA) and the Digital Currency Institute of the People’s Bank of China (PBOC), are looking to expand the testing of China’s central bank digital currency (CBDC) for cross-border payments.

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Georgia’s Central Bank Mulls CBDC Launch

Georgia’s central bank has revealed that it is looking to launch a central bank digital currency (CBDC), and is inviting relevant entities to help with the effort. The post Georgia’s Central Bank Mulls CBDC Launch appeared first on BeInCrypto.

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Bank of England Is Looking for CBDC Development and Issuance Expert

The Bank of England has published a job advertisement for a senior expert on CBDCs to lead the bank’s thinking on the feasibility, design, and implementation of a CBDC. The post Bank of England Is Looking for CBDC Development and Issuance Expert appeared first on BeInCrypto.

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Britcoin: UK Looking To Create Its Own Digital Currency

One thing that has become very prominent on the global stage is the creation of Central Bank Digital Currencies (CBDCs) by various world powers. China, Canada, the Bahamas, the British Virgin Islands, and France are all at various stages of development and deployment of their own CBDCs.

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US Federal Reserve Seeking Manager to Research CBDCs and Stablecoins

The U. S. Federal Reserve (Fed) has posted a job advertisement that seeks to hire a role related to stablecoins and central bank digital currencies (CBDC). The Fed is looking for a research manager to join its team to assess the “benefits and risks” of digital assets.

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US Federal Reserve Lists CBDC Post on LinkedIn

U. S. Hiring for the Future The United States Federal Reserve (U. S. Fed) is looking for a Central Bank Digital Currency (CBDC) and stablecoin research manager. An advertisement, posted on LinkedIn, describes the position as a management role in the Digital Innovations Policy Program.

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Ukraine Government Partners With Stellar (XLM) for CBDC Project

The Ukraine government is looking to develop a central bank digital currency (CBDC) following a collaboration with the Stellar Development Foundation (SDF). Ukraine to Develop CBDC on the Stellar Blockchain Network Ukraine’s Ministry of Digital Transformation has inked a Memorandum of Understanding (MoU) with the SDF for its CBDC project. The partnership will see theRead More

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US intelligence is looking at Chinese CBDC as a national security threat

The Director of National Intelligence wants to have the SEC’s leader briefed on the dangers of the U.S. falling behind in crypto.

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NYU Professor Predicts CBDCs Are Imminent, Bitcoin Still Unviable

Central banks have been responding to the rise of Bitcoin with the introduction of central bank digital currencies, or CBDCs. Thus far, movement on this front has been somewhat slow. Save for China, most central banks are still in the ideation phase, or are looking more into how a CBDC would affect their economy and […]

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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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Bank of Canada to hire an economist familiar with crypto

The Bank of Canada is making the next in a series of moves that will eventually lead to the creation of its own CBDC — or at least, that is what the crypto industry is assuming right now. Such assumptions came from recent information, revealing that the bank is looking for an economist with experience in financial technology and deep knowledge of crypto.

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The U.S. Treasury Department And Federal Reserve Are ‘Studying’ Possible Launch Of A Digital Dollar

Speaking during the online Atlantic Council webinar, the U. S Deputy Treasury Secretary, Justin Muzinich, said his department, alongside the Federal Reserve, is looking at launching a central bank digital currency (CBDC) tied to the dollar in the future.

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Bank of Korea to Test CBDC Distribution in 2021

With phase one of its central bank digital currency (CBDC) experiment complete, the Bank of Korea (BOK) is looking forward to testing the token distribution system in 2021. Despite the ongoing CBDC trials, South Korea’s central bank says it is not looking to launch a sovereign digital currency.

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BIS Seeking Blockchain Expert to Lead Digital Currency Research

BIS is looking for a blockchain engineer to take a lead on its digital currency initiatives, which includes CBDC and digital security research.

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The Bahamas is looking to launch its own CBDC next month

Reports from the Bahamas reveal that the country’s central bank is set to unveil...

The post The Bahamas is looking to launch its own CBDC next month appeared first on Coin Journal.

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Over 20% Of Central Banks Are Looking to Launch A CBDC In The Next 1-6 Years: BIS Report

In research published over the weekend, the Swiss-based BIS reports the growing attention by global central banks on research and development of central bank digital currencies (CBDCs) in 2020. The paper states the motivations, technical developments and policy approaches towards the launch of CBDCs vary across the central banks with the more innovative countries taking […]

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The Central Bank of the Philippines Set to Conduct CBDC Trial Run

The central bank of the Philippines is looking into issuing and implementing a central bank digital currency (CBDC). The Bangko Sentral ng Pilipinas (BSP) has created a team of experts to look into the feasibility and policy implications of issuing a CBDC.

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Japanese Government to Consider CBDC in Economic and Fiscal Policy

The Japanese government is looking to include a central bank digital currency (CBDC) in its 2020 economic and fiscal policy framework. Japan to Collaborate with the U. S. and Europe on Digital Yen According to a report by Nikkei on Tuesday (July 14, 2020), the Japanese government is considering discussions on CBDC.

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Japan's CBDC 'experiment' has an eye on China's progress

The cryptocurrency market has been looking on cautiously as it awaits the launch of a central bank digital currency [CBDC], unsure of what its impact may be on a country. Over the past few months, manThe post Japan's CBDC 'experiment' has an eye on China's progress appeared first on AMBCrypto.

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Swiss Financial Regulator, FINMA, Licenses Local Bank To Carry Out The Crypto Transactions

Switzerland’s top financial regulator, Financial Market Supervisory Authority (FINMA) grants local banks, InCore, the first license to transact digital currencies. This adds to the accelerated efforts from the Swiss government in the blockchain field so far in 2020 with the government looking to implement a central bank digital currency (CBDC). InCore, first Swiss bank licensed […]

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US Officials Hint at Extra Regulation for Bitcoin

Various governments are still looking to actively regulate Bitcoin and cryptocurrencies. In the US, it appears that some new proposals aim to achieve that goal. With the Federal Reserve exploring the issuance of a CBDC, regulation isn’t too far behind.

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Japan Looking to Push CBDC Agenda at G7 Summit in June

Japanese lawmakers want the government to push for talks on central bank digital currency (CBDC) during the next G7 summit holding in the summer. US Should Set CBDC Agenda for G7 Partners According to Reuters, a parliamentary group led by Akira Amari of Japan’s Liberal Democratic Party (LDP) wants the country’s government to consider issuingRead MoreRead More.

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Ex-Trump advisor: US should halt China's CBDC development to protect the dollar

The next battleground for the United States and China will be digital currencies. Looking ahead from a trade-war heavy 2019, the age of central bank digital currencies [CBDCs] will show the soft-poThe post Ex-Trump advisor: US should halt China's CBDC development to protect the dollar appeared first on AMBCrypto.

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Now, Japan's lawmakers push for digital yen (to counter digital Yuan?)

Japan has joined the list of countries looking forward to using Centrally Backed Digital Currency [CBDC]. A member of the ruling party in Japan, Liberal Democratic Party, on 24 January, told Reuters tThe post Now, Japan's lawmakers push for digital yen (to counter digital Yuan?) appeared first on AMBCrypto.

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Here's when and why a country will issue a CBDC

Looking at what went down last year, there’s no surprise that central bank issued digital currencies [CBDCs] are on the agenda at the World Economic Forum [WEF] in Davos Switzerland. What’s intereThe post Here's when and why a country will issue a CBDC appeared first on AMBCrypto.

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Major Central Banks Form CBDC Think Tank

The Bank of Canada along with other central banks from Japan, Switzerland, England, Sweden, and the European Central Bank (ECB) are looking to work together as part of plans to create sovereign central bank digital currencies (CBDCs).

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India: RBI Mulling State-Owned Cryptocurrency

The Reserve Bank of India (RBI), India’s central bank, has become the latest central bank with plans to launch a central bank digital currency otherwise known as CBDC. Despite looking into the possibility of launching a ‘crypto-rupee’, the RBI still maintains its anti-cryptocurrency stance.

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China's CBDC already holds advantage over PayPal, Libra

China is setting the wheels in motion to reduce the dominance of the US dollar. According to a recent report, it was revealed the Asian country was looking to amplify usage of its native fiat curreThe post China's CBDC already holds advantage over PayPal, Libra appeared first on AMBCrypto.

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United States Examines Launching Digital Currency, Confirms Federal Reserve Chairman

United States Federal Reserve Chairman Jerome Powell has confirmed that the nation is looking into launching its own Central Bank Digital Currency (CBDC). The news comes at a time when many other nations have also hinted at launching their own national digital currencies in a race to be among the first countries to do so.

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Bank of Japan Studying Digital Currencies, Says Governor

Japan may be the latest country whose central bank is looking to launch a sovereign digital currency. However, authorities in the country say there is no rush towards creating a digital Yen even as the CBDC wars appears to be gaining momentum.

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American Banker: Does the US Need an Ally Like Libra to Take on China’s Digital Currency Growth

Facebook's universal digital currency project Libra might be at the receiving end of regulators and governments around the globe, but looking at China's accurate adoption of blockchain technology and the slated launch of its central bank-issued digital currency (CBDC) by the end of this year, the US might need an ally like Libra to help […]

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Central banks looking to cryptocurrency to replace cash

A central bank digital currency (CBDC) would see central banks distribute digital money which could be redeemed for their respective domestic fiat currencies. In the case of an American CBDC, this would be the US dollar or in Russia, this would be a “Cryptoruble.

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Government Supported Central Bank-Issued Digital Currencies: Now or Never?

There has been series of condemnations on central bank-supported digital currencies (CBDC). Recent among this is that of the Bank of Japan’s (BOJ) deputy governor, Masayoshi Amamiya on October 20 reiterating his pessimistic views towards CBDC under the claim that digital assets do not have anything good to add to the existing monetary systems. Looking […]

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The Bank Of Thailand Are Developing A Wholesale Cryptocurrency

The Bank of Thailand (BOT) are the next central bank to weigh in on the cryptocurrency debate, and it looks to be good news this time. Sort of anyway. BOT want to develop a Central Bank Digital Currency (CBDC), a cryptocurrency that will be issued by the bank and regulated by the bank.

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