central bank digital currencies – Page 3

BIS General Manager Casts Doubt on Stablecoins, Claiming Tokens Do Not Benefit From Regulations or Central Planning

February 22, 2023

According to Agustin Carstens, the head of the Bank for International Settlements (BIS), cryptocurrencies have lost the “battle” against fiat currencies issued by the world’s central banks. While speaking at the Monetary Authority of Singapore on Wednesday, Carstens stressed that stablecoins are not reliable because they lack the “institutional arrangements and social conventions behind them.”…
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Expert Predicts Looming Economic Collapse as BRICS Nations Unite Against the Dollar

February 21, 2023

Andy Schectman, CEO of Miles Franklin Precious Metals Investments, explained in a recent interview that the five leading emerging economies—Brazil, Russia, India, China, and South Africa, collectively known as BRICS nations—are “coalescing against the dollar.” Schectman believes that since 2022, de-dollarization “seems to be spinning much, much faster.” De-Dollarization and CBDCs: Monetary Historian Suggests a…
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Analyst Warns of Banks’ Authority to Confiscate Funds, Decline of US Dollar Purchasing Power

February 9, 2023

According to Lynette Zang, chief market analyst at ITM Trading, U.S. banks have the legal authority to confiscate people’s funds due to legislation passed by Congress. In a recent interview, Zang discussed how the purchasing power of the U.S. dollar has dwindled to “roughly three cents,” her belief that central bank digital currencies (CBDCs) will…
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Nouriel ‘Dr. Doom’ Roubini Warns About Demise of US Dollar

February 8, 2023

Nouriel Roubini, an economist known as “Dr. Doom,” has warned about the demise of the U.S. dollar and the rise of a “bipolar” world. Roubini believes that the Chinese renminbi might be a substitute for the dollar, as new technologies like central bank digital currencies (CBDCs) and corporate payment rails contribute to a new landscape.…
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Stablecoins and CBDCs might play ‘meaningful role’ in payments — Visa CEO

January 25, 2023

Visa began working on a blockchain interoperability project in September 2021 to support CBDC and stablecoin adoption but few updates have been made since. The chief executive of credit card giant Visa remains confident that blockchain-powered solutions can be integrated into its services and offerings to power the next generation of payments. Speaking on a…
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Namibian Central Bank: Virtual Assets ‘Remain Without Legal Tender Status’ but Merchants Can Still Accept Them as Payment

October 6, 2022

The Bank of Namibia recently said it has brought virtual assets and virtual asset service providers under its fintech innovations regulatory framework, and that it plans to amend applicable laws and regulations. According to the central bank’s governor, there is an ongoing “battle between regulated and unregulated money on the one hand and sovereign versus…
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Fed Governor Says ‘Blockchain Is Totally Overrated,’ Claims Crypto Is ‘Just Electronic Gold’

March 26, 2022

The American economist and member of the Federal Reserve Board of Governors, Christopher Waller, believes blockchain technology is “totally overrated,” even though the U.S. central bank “put a lot of resources into understanding digital currencies and the blockchain.” On Friday, Waller spoke during a panel that discussed central bank digital currencies (CBDCs) and said that…
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China’s Digital Yuan Wallet App Now in iOS and Android App Stores

January 5, 2022

China’s central bank has released its digital currency wallet app ahead of the Winter Olympics. The wallet app for the digital yuan, also known as e-CNY, can now be downloaded from the iOS and Android app stores in the country. Digital Yuan Wallet App Now Downloadable From iOS and Android App Stores China’s central bank,…
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Federal Reserve Governors Don’t See Reason to Issue Central Bank Digital Currency

November 16, 2021

At least three Federal Reserve governors have said that they do not see a reason for the Fed to issue a central bank digital currency (CBDC). The Fed is currently putting together a report on a digital dollar to be released in the near future. Fed Governors Doubt Need for Digital Dollar Federal Reserve Governor…
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Every Large Bank Will Actively Consider Crypto in 1-3 Years, Says Former Citi CEO

November 14, 2021

A former CEO of Citigroup said that every major bank and securities firm will consider crypto trading or services within one to three years. He also hopes that central banks worldwide will adopt digital currencies. Former Citi CEO Expects All Major Banks to Embrace Crypto in 1-3 Years Indian-American banker Vikram Pandit, a former CEO…
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Category: central bank digital currencies