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Central bank digital currencies (CBDCs) are digital counterparts of traditional fiat currencies overseen by central banks. Unlike volatile cryptocurrencies, CBDCs have a stable value, mirroring their nation’s currency, backed by monetary policies and regulations.
For the latest in CBDC news, this section provides real-time updates. Here, uncover insights on CBDCs pilots across the world and their results. Delve into CBDC news today exploring debates on CBDCs as potential state control tools or monetary innovations. Stay ahead with CBDC’s latest news as nations like China expand digital yuan use, and the IMF seeks global CBDC unification. For comprehensive news CBDC coverage, this is your hub.
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The Reserve Bank of India prioritizes the long-term potential of central bank digital currencies but is holding off on a full rollout until its effects are better understood. India‘s central bank is taking a measured approach to launching a central…
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The Central Bank of Brazil has initiated the second phase of its central bank digital currency project, DREX, aiming to demonstrate trade finance as a new use case. In a press release on Nov. 19, Brazil’s central bank announced it…
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Chainlink
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A Norwegian task force has advised against the immediate adoption of a central bank digital currency. A Norwegian advisory committee has recommended against the immediate adoption of a state-controlled digital currency, Bloomberg reported, citing the committee’s findings submitted to Finance…
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HashKey’s Xiao Feng believes Trump’s crypto stance may prompt China to accelerate its adoption of cryptocurrencies. U.S. President-elect Donald Trump’s pro-crypto policy may eventually prompt China to reconsider its stance on digital assets, HashKey Group chairman Xiao Feng told the…
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The Reserve Bank of Australia has launched a consultation on Project Acacia, exploring wholesale central bank digital currency and tokenized asset markets. Australia‘s central bank, the Reserve Bank of Australia, alongside the Digital Finance Cooperative Research Centr is seeking public…
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The People’s Bank of China has developed a digital yuan visual hard wallet, showcasing dynamic QR codes and offline payments. China is moving forward with the adoption of its central bank digital currency — also known as the digital yuan…
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Despite the substantial growth of crypto prices in recent years, Switzerland remains wary of virtual currencies, said Swiss National Bank Chairman Martin Schlegel. The Swiss National Bank remains cautious about crypto as Chairman Martin Schlegel stressed on Thursday, Nov. 7,…
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Seven financial lenders in South Korea have been authorized to participate in a pilot program testing CBDC-based digital financial services. South Korea‘s Financial Services Commission has authorized seven domestic banks to participate in a pilot program testing digital financial services…
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The State Bank of Pakistan has proposed a legal framework to recognize digital assets, including cryptocurrency, as official forms of currency. If approved, the plan would allow the SBP to issue a digital currency, potentially leading to a central bank…
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Bitcoin
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Pakistan moves to legalize crypto as the government proposes amendments to the SBP Act, signaling a shift in its financial policy. According to a report by The Express Tribune, the amendments would allow the SBP to issue digital currency and…
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A trade association for the world’s airlines is set to integrate the digital yuan into its billing systems by the end of 2024 to enhance payment options. The International Air Transport Association plans to incorporate China’s central bank digital currency…
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The European Central Bank and several EU governments are reportedly at odds over the regulatory framework for the digital euro. A conflict is escalating between Europe‘s powerful nations and the European Central Bank regarding the regulation of the digital euro,…
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The Bank for International Settlements and central banks from Australia, South Korea, Malaysia, and Singapore have introduced Project Mandala, a system that embeds regulatory compliance directly into cross-border financial transactions. This initiative addresses common hurdles in international transactions, such as…
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Hong Kong Monetary Authority has partnered with the Bank of Thailand and Banco Central do Brasil to advance cross-border tokenization projects under collaborative initiatives. Hong Kong‘s financial watchdog, the Hong Kong Monetary Authority, has partnered with the central banks of…
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Deputy Governor of China’s Central Bank says the countries partnering together to build mBridge would need to establish trust and mutual understanding of one another’s regulatory framework. According to a report by SCMP on Oct. 23, the deputy governor of…
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Experts warn that the high investment required to join the digital ruble platform could be prohibitive for small Russian banks, as it exceeds their annual tech budgets by several times. The entry cost for Russian banks to join the Bank…
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