Digital Dollar Project urges US to take action on CBDC development

The foundation set up by “Crypto Dad” Christopher Giancarlo released a new version of its CBDC white paper with new warnings about maintaining U.S. leadership.

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Nigeria bans ATM cash withdrawals over $225 a week to force use of CBDC

The limits set by the Central Bank of Nigeria are part of a broader push to encourage digital financial transactions.

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Digital Yen CBDC Trial Set to Rollout With Major Banks in 2023

The Bank of Japan will roll out a pilot program for its central bank digital currency project to three major Japanese banks in spring 2023. The post Digital Yen CBDC Trial Set to Rollout With Major Banks in 2023 appeared first on BeInCrypto.

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Think tank launches ‘technical sandbox’ exploring United States CBDCs

The Digital Dollar Project’s Technical Sandbox Program is set to begin in October, aiming to provide a clearer understanding of the ramifications of a United States CBDC.

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The Fed Mulls Launching New Instant Payment System That Could Taper The Use Of Cryptocurrencies In The US

The US Federal Reserve is set to launch “FedNow”, -a service that will enable businesses, individuals and institutions to send payments instantly, offering the same services as cryptocurrencies and a central bank digital currency (CBDC).

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CBDC Alternative FedNow to Launch Next Summer

The U.S. Federal Reserve says that it will introduce its instant payments service, FedNow, by next summer. FedNow Set to Launch Next Year The Federal Reserve is getting ready to...

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Ex-CFTC Chairman Discusses Celsius' Bankruptcy and CBDC Adoption

The former Commodity Futures Trading Commission chief joined CoinDesk TV’s “First Mover” to discuss why the bankruptcy of lender Celsius Network could set legal precedent in future crypto hearings and why the likelihood of CBDC adoption worldwide could be based on Chinese technology.

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As A Part Of CBDC Testing Chinese Residents Receive Digital Yuan

Shenzhen residents are all set to receive digital Yuan worth $2. 29 million as part of the Central Bank Digital Currency (CBDC) testing. The Chinese government will be giving these 15 million Yuan in CBDC to 130,000 residents.

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US Federal Reserve bank at the helm of CBDC research effort appoints new president

Susan M. Collins is set to become the first Black woman to head a Federal Reserve Bank.

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Fed Chair Jerome Powell Set to Release Digital Currency Report

Jerome Powell has assured members of the United States Congress that the highly anticipated report on digital currencies will finally be released in the coming weeks. The Federal Reserve has yet to decide on whether to launch a central bank digital currency (CBDC) according to reports on January 11, 2022. Feds’ Digital Currency Report inRead More

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China CBDC pilot live in select regions, app available on iOS, Android

China’s answer to the cryptocurrency challenge appears to be taking shape given its much-expected launch in 2022. The e-CNY central bank digital currency is set for the next challenge after this reThe post China CBDC pilot live in select regions, app available on iOS, Android appeared first on AMBCrypto.

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Ripple to help create a CBDC for this tiny island-nation

According to a press release shared by Ripple, the XRP ledger is all set to partner with the Republic of Palau to help circulate digital dollars in the country. The post Ripple to help create a CBDC for this tiny island-nation appeared first on CryptoSlate.

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Georgia to Test Its Digital Currency in Preparation for 2022 Launch

Digital currencies are becoming popular globally, and Georgia is set to be the latest nation to delve into CBDC with plans to launch the digital Lari in 2022. National Bank of Georgia to Launch Digital Currency In 2022 According to an announcement by National Bank of Georgia (NBG) Vice President Papuna Lezhava earlier this week, the Central BankRead More

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US Federal Reserve would soon release ‘detailed plans’ for a digital dollar

In a new move that is set to change the dynamics of the financial industry in the United States, the country’s Federal Reserve is set to release detailed plans that will guide the process of reviewing the risks and benefits attached to issuing a central bank digital currency (CBDC), a report on Wall Street Journal […] The post US Federal Reserve would soon release ‘detailed plans’ for a digital dollar appeared first on CryptoSlate.

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Nigeria’s CBDC Inches Closer As Website Goes Live

Nigeria is set to be the first African country to launch its Central Bank Digital Currency. The website of the CBDC went live and has since recorded over one million hits, which is indicative of mass curiosity.

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Australia, Malaysia, Singapore, South Africa Set To Test Cross-Border CBDC

CBDC, also central bank digital currency, is a digital token issued by a country. Many governments and central banks around the world are exploring the use of CBDCs. Even though they mostly remain in the hypothetical stage.

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South Korea CBDC To Appear on Samsung Galaxy Smartphones

Samsung will participate in South Korea’s CBDC pilot program, with the asset set for integration with its flagship Galaxy smartphones. The post South Korea CBDC To Appear on Samsung Galaxy Smartphones appeared first on BeInCrypto.

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Samsung to join Kakao for offline trials of South Korean CBDC

South Korea has been taking big steps towards the development of its central bank digital currency [CBDC]. In fact, according to local media, two Samsung affiliates are set to join several Kakao subsiThe post Samsung to join Kakao for offline trials of South Korean CBDC appeared first on AMBCrypto.

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Venezuela is launching a digital currency in October

The South American country is set to launch its CBDC in the coming months…

The post Venezuela is launching a digital currency in October appeared first on Coin Journal.

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Ghana set to become first African country to pilot a CBDC

The West African nation announced its plans to pilot a central bank-backed currency (CBDC)… The post Ghana set to become first African country to pilot a CBDC appeared first on Coin Journal.

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Bank of Ghana Set to Pilot CBDC in September

As more central banks declare their plans, the market for Central Bank Digital Currencies (CBDC) is gaining traction. While CBDCs are unlikely to completely replace fiat, authorities worldwide are interested to develop the numerous unique benefits that CBDCs offer.

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New Zealand: Central Bank to Explore CBDC, Stablecoin Policies via Public Consultation

The Reserve Bank of New Zealand is set to conduct public consultations with regard to CBDCs, stablecoins, and other emerging mediums of payment. NZ Catches the CBDC Fever According to an official statement issued on July 7, the Assistant Governor of The Reserve Bank of New Zealand, Christian Hawkesby detailed as to how New ZealandRead More

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Members of East Africa Community Explore Potential Use of CBDC for Alternative Regional Payment System

Six East African states are reportedly set to explore the possibility of using central bank digital currencies (CBDC) as an alternative to their shared payment system. The six countries, which are all members of the East Africa Community (EAC) trading bloc, are hoping this alternative will create a pathway that leads to the attainment of […]

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Ghana’s Central Bank Is Set to Launch Its CBDC

The CBDC race is on, and central banks all across the globe are either eyeing the launch of a state-backed cryptocurrency or studying the feasibility of its use. The most recent development in this regard comes from Ghana, as the governor of Ghana’s central bank, Ernest Addison, recently announced that his institution is now “inRead More

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CBDC Can Be Set Up on Ethereum Network, Says Architect of Digital Yuan

Yao Qian, a former director of the PBOC's Digital Currency Research Institute, claims that a central bank digital currency can run on the Ethereum network

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South Korea Set to Launch CBDC Pilot Platform

South Korea has made significant progress towards development of its digital currency.

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The UK set to explore Britcoin, a Bank of England-backed CBDC

The United Kingdom is planning to test the practicability of a central bank-issued digital currency. A report unveiled this news on April 19, noting that the coin is named Britcoin. Reportedly, the Bank of England (BoE) joined hands with HM Treasury to form a task force to work on the Britcoin project, which aims to […] The post The UK set to explore Britcoin, a Bank of England-backed CBDC appeared first on Invezz.

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Bank of Japan Set to Begin Experimenting with CBDC 

Earlier today, the Bank of Japan (BOJ) announced that it began experimenting with the possibility of issuing its own central-bank digital currency (CBDC). The central bank first  entertained the idea of a CBDC back in February.

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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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Suzhou Government to Airdrop $5 Million in Digital Yuan for CBDC Trial

Chinese city Suzhou is set to airdrop 30 million yuan ($5 million) to citizens in the latest round of digital yuan tests. This was revealed by the regional government yesterday in a press release informing citizens of the distribution.

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Interoperability will determine CBDC winners and losers

To be first is to set the tone for the industry and control the space — a tactic otherwise known as the first-mover advantage.

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The EURST Stablecoin Set the Path That Major Central Banks Now Want to Follow

From Asia to Europe, major central banks all around the world are expected to announce their own digital currencies soon. This is vindication that stablecoins like EURST are on the right path forward, and they can serve to show how national economies should reinvent themselves following the current crisis. Why Everyone Wants a CBDC Now […]

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Blockchain Bites: $10B in Bitcoin Futures, Price Wobbles and Liquidations

A correction in bitcoin's price (from all-time highs) led to $1 billion in liquidated options positions. Ukraine announced a Stellar-based CBDC experiment and a much-awaited Ethereum layer 2 set a tentative launch date.

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Turkish Central Bank Governor Hopeful of CBDC Pilot in 2021

Turkey and Russia continue to inch closer to CBDC ambitions. Turkey Set to Pilot CBDC in 2021 Second Half According to a Coindesk report published on Dec 26, Turkey is poised to begin piloting a previously undisclosed digital currency in the second half of 2021.

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Suzhou Government to Airdrop $3 Million in Digital Yuan for CBDC Trial

The Suzhou government is set to carry out a test on China’s central bank digital currency (CBDC) by conducting a digital yuan airdrop via a lottery program, which will see the distribution of $3 million worth of digital yuan to some lucky winners.

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Lebanon to Launch a CBDC in 2021 to Boost Confidence In the Country’s Banking Sector

According to the country's central bank governor, Riad Salameh, Lebanon is set to debut its own Central Bank Digital Currency (CBDC) in 2021. Bloomberg, which reported on this development, cited a Lebanese state-run News Agency, noting that the Mediterranean island plans to make the paradigm shift due to transitioning to cashless networks and restoring confidence […] The post Lebanon to Launch a CBDC in 2021 to Boost Confidence In the Country’s Banking Sector first appeared on BitcoinExchangeGuide.

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Lebanon’s Central Bank To Issue Digital Currency In 2021 In Light Of Economic And Monetary Fallout

Banque Du Liban, the central bank of Lebanon is set to launch a central bank digital currency (CBDC) in 2021. According to a report by a state-run news publication on Tuesday, the central bank’s governor, Riad Salameh, indicated that the digital currency project is part of a move aimed at restoring confidence in the crumbling […]

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How the U.S. and EU Central Banks View the Future of CBDCs

Watch the full session from Ripple Swell Global 2020 today. With China set to launch the world’s first Central Bank Digital Currency (CBDC) by the end of the year, pressure is mounting on the world’s other major central banks to join the digital revolution.

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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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Brazil’s Central Bank Says Nation Might Be Ready for a Digital Currency by 2022

Brazil's fast-digitizing financial infrastructure could set the stage for CBDC in the next two years, said Campos Neto.

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South Korean Central Bank Enters Phase 2 of CBDC Development; Seeks Consulting Partner

The Bank of Korea (BoK) has advanced its Central Bank Digital Currency (CBDC) initiative following a recent call for collaboration with a private consultancy. This move will set ground for the second phase of South Korea’s CBDC with a speculated pilot launch in 2021.

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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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China CBDC Trials Coming to Beijing and 27 Other Cities

China’s accelerated central bank digital currency (CBDC) plans are set to reach another milestone with tests scheduled for Beijing and 27 cities in the country. These new digital currency electronic payment (DCEP) trials will join other public pilots already ongoing in cities like Shenzhen and Suzhou.

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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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Cambodia’s Project Bakong CBDC Set for Roll Out in the Next Few Months

Cambodia’s central bank is getting set to launch the country’s central bank digital currency (CBDC) in conjunction with almost a dozen commercial banks. APAC nations continue to develop sovereign digital currencies mainly to challenge U.

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Bank of Japan Accelerates its Digital Currency Research With New CBDC Division

The Bank of Japan on Monday revealed that it has set up a new division to accelerate the study of digital currency issuance, reported Mainichi. The research study division would now comprise of 10 individuals headed by Akio Okun, one of the seniors of the Payment and Settlement Systems Department under which the new division […]

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Thailand: Central Bank Partners with SCG for CBDC Pilot Test

Thailand’s central bank in partnership with SCG — one of the country’s largest conglomerates — is set to run a pilot test for a central bank digital currency (CBDC). Thailand Moving Forward with Digital Currency Plans According to the Bangkok Post, SCG has signed a memorandum of understanding (MoU) with the Bank of Thailand (BOT),Read MoreRead More.

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South Korea Set Up Committee to Study Regulatory Obstacles for Potential CBDC Project

South Korea’s central bank, the Bank of Korea (BOK) has set up a legal advisory committee that will look into any possible regulatory roadblocks when issuing its planned central bank digital currency (CBDC).

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S. Korea’s Central Bank Forms Legal Panel to Advise on Possible Digital Currency Launch

The Bank of Korea has set up a legal panel to advise on possible regulatory sticking points for a future CBDC issuance.

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