CBDC News

China’s central bank digital currency is now available in Hong Kong, as Beijing is pushing hard to digitize its economy. China has started its first pilot outside the mainland, with digital yuan now available in Hong Kong‘s local shops, according…

Could CBDCs’ transparency effectively track and curb the $3 trillion illicit financial flows? Let’s find out. The world faces a staggering challenge: illicit funds and money laundering. In 2023, over $3 trillion illicitly flowed through the global financial system, according…

While Beijing is trying to popularize its digital yuan, only a few seem to be ready to use it. As Chinese government employees, especially those in state-owned enterprises and governmental organizations, become early adopters of receiving their salaries in digital…

Nearly 90% of German households “appear open” to the idea of embracing a central bank digital currency during banking stress, Germany’s Bundesbank says. A recent survey conducted by the Deutsche Bundesbank revealed that a very large majority of Germans “appear…

Pakistan’s finance minister says the country is mulling a central bank digital currency to empower women and tackle financial abuse. Pakistan is weighing in on launching a central bank digital currency (CBDC) to modernize financial transactions and provide greater accessibility…

The former head of China’s digital yuan initiative is reportedly under investigation for “serious violations of discipline and law.” Yao Qian, the former lead developer of China‘s central bank digital currency (CBDC) initiative, is said to be under investigation for…

Deutsche Bundesbank president Joachim Nagel reaffirmed Eurosystem’s inability to identify individuals through CBDC payments, highlighting minimal data visibility. The Eurosystem wouldn’t be able to identify people based on their payments with central bank digital currencies (CBDCs), as it would see…

BRICS members explore stablecoin payments and a platform to conduct CBDC payments, aiming to enhance financial cooperation, a Russian official says. Stablecoins might become a tool for international settlements among BRICS members, as the alliance has already set up a…

New Zealand’s central bank has started exploration into launching a central bank digital currency, with ongoing investigation projected until approximately 2030. The Reserve Bank of New Zealand is now exploring the introduction of a central bank digital currency (CBDC) also…

Britain’s last attempt, which included plans to create an NFT, ended in tears. Two years on, and there’s another big challenge on the horizon. The U.K. government has announced it’s taking another swing at fulfilling its ambition of transforming Britain…

U.S. Senator Marsha Blackburn highlighted the personal privacy and government surveillance risks of Central Bank Digital Currencies and Bitcoin.

Fiji’s central bank has issued a warning against crypto investments promoted in the region, citing legal tender laws and potential penalties under local regulations. The Reserve Bank of Fiji (RBF) has issued a public warning, cautioning users from investing in…

Swiss National Bank Chair Thomas Jordan says public central bank digital currency is unnecessary, suggests focusing on interbank trials. Switzerland is unlikely to introduce a public central bank digital currency (CBDC) in the near future, as risks associated with the…

Bank of Russia’s chief signals a slow path to digital ruble adoption, as scaling is expected no earlier than 2025, with mass usage transition anticipated over five to seven years. Scaling of Russia‘s digital ruble following the pilot project is…

SWIFT aims to launch a new platform in the next two years to connect central bank digital currencies to the existing finance system in a bid to boost the CBDC ecosystem. Global financial messaging network SWIFT is planning to launch…

In its latest report, Sweden’s Riksbank stressed the necessity for extensive technical and regulatory development to ensure secure offline payments with e-kronas. Sweden’s central bank, Riksbank, cautioned in its recent research note on CBDCs about the potential risks associated with…