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China’s digital yuan adoption faces “bottlenecks” due to user reluctance and competition from platforms like Alipay, says Charles Chang, a director at a Shanghai-based university. China‘s central bank digital currency — also known as the digital yuan — is still…
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The Russian Ministry of Industry has proposed a two-year transition period for implementing digital ruble payments in retail over infrastructure concerns. The Russian Ministry of Industry has called for a two-year transition period before the mandatory adoption of payments using…
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The key figure behind Russia’s central bank digital currency initiative has resigned from the central bank, ending her leadership role in the country’s digital currency initiative. A key mastermind behind Russia‘s central bank digital currency — also known as the…
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India will likely establish mobile payment ties with other countries to improve cross-border payments, trades, and remittances.
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The European Central Bank is urging faster action on the digital euro as legislative delays risk hindering progress amid growing global competition. The digital euro project is facing delays in the European Union, with the European Central Bank urging faster…
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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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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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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…
