The Italian Banking Association announced it would be ready to start work on a European central bank digital currency. The Italian Banking Association (ABI) has revealed it would be willing to support the implementation of a digital currency from the European Central Bank. According to a June 28 update on the ABI website, the association…
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A former senior official of the People’s Bank of China said that the country has completed the backend architecture development of its digital currency. The former vice-chair of the People’s Bank of China’s National Council for Social Security Fund, Wang Zhongmin, announced that China has completed the backend architecture development of China’s central bank digital…
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Singapore’s central bank is looking to join forces with China in exploring central bank digital currencies. Singapore’s central bank and financial regulatory authority is looking to cooperate with China in the field of central bank digital money. Ravi Menon, the managing director of the Monetary Authority of Singapore, or MAS, has voiced the country’s readiness…
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The Bank of Thailand launched a project to pilot test its CBDC payment system with the largest building material provider in the country. The Bank of Thailand announced that it plans to develop a prototype to test real-life business use cases of its central bank digital currency (CBDC). The bank said in its official statement…
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The Fed is looking at issuing a central bank digital currency, but can’t point to any concrete progress. In a hearing on June 17 before the House Committee on Financial Services, Chairman of the Federal Reserve Jerome Powell got into an exchange with Representative Tom Emmer (R-MN) over the subject of a central bank digital…
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The Bank of Korea has tapped six experts to assess possible legal issues surrounding the launch of a central bank digital currency. South Korea’s central bank, the Bank of Korea, has formed a legal advisory group to evaluate issues surrounding a potential central bank-issued digital currency (CBDC) launch. According to a press release the central…
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Ledger’s Glen Woo believes that China’s central bank digital currency could be deployed using existing payment rails without citizens noticing the change. China has emerged as the world’s leader in central bank digital currency, or CBDC, development, driving speculation surrounding the country’s domestic and international ambitions for its CBDC. Speaking to Cointelegraph, Glenn Woo, Ledger…
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Congressman Warren Davidson recaps yesterday’s hearing on the digital dollar, which seemed to reach new consensus across party lines — but the devil is in the details. In a June 11 hearing before the Congressional Fintech Task Force, everyone seemed to agree that they could improve financial inclusion by giving people more direct access to…
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As the monetary impacts of the coronavirus drive discussions surrounding central bank digital currencies, a U.K. blockchain firm has proposed a CDBD system to the Bank of England. United Kingdom-based blockchain firm L3COS has submitted a proposal to the Bank of England, or BoE, for a blockchain-based operating system to power a central bank-issued digital…
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Blockchain for distributing votes and independent digital dollars take center stage in the this week’s regulation news. Editor’s note: These are times strange enough that every conversation seems to include some verbal acknowledgment like “strange times, huh?” A quasi-anarchist police-free leftist separatist bubble has formed and is growing on Seattle’s Capitol Hill — a sentence…
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