While banks in emerging markets are moving more rapidly toward issuing CBDCs, other countries appear to be taking a more cautious stance. The recent survey results published by the Bank of International Settlements produced bullish and bearish sentiments with regard to Central Bank Digital Currency adoption. While banks in Emerging Market Economies (EME) are moving…
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Japanese exchange Bitpoint released data on its massive 2019 deficit, the country’s FSA pointed out tightening regulations, and more in news from Japan this past week. This past week in Japan, native exchange Bitpoint released data showing a massive deficit from 2019, Japan’s Financial Services Agency mentioned upcoming tightened regulations, Japanese and European central banks…
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China continues to get ahead in the CBDC race, but will Japan attempt to counter it with its own digital currency? China continues to pull ahead in the central bank digital currency race as more details on its secretive digital yuan project intermittently surface. As a result, more countries are beginning to worry about the…
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The Central Bank of the Bahamas plans to adopt the Bahamian digital dollar pilot in the second half of 2020. While major industry actors argue that central bank digital currencies (CBDC) are years or decades ahead, the Bahamas plan to adopt a CBDC no later than 2020. John Rolle, the governor of the Central Bank…
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Japanese lawmaker Kozo Yamamoto said today that the government should include the digital yen plan in its mid-year policy. Another Japanese lawmaker has publicly called for the swift development of the digital yen. The head of the banking and finance systems research commission at Japan’s Liberal Democratic Party, Kozo Yamamoto, said today that the country…
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Japan is feeling the pressure of China’s moves forward with a digital yuan, with lawmakers calling for the G7 to put CBDCs on its 2020 agenda. Japan is feeling the pressure of China’s strident moves forward with a digital yuan. According to a Feb. 7 Reuters report, top lawmakers in the country are calling on…
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The MAS’ Payment Services Act has gone into effect, setting up a framework for cryptocurrency regulation in the country. As crypto continues its foray into the mainstream financial world, more countries are recognizing digital assets legally. Singapore is the latest to join the party. On Jan. 28, the Monetary Authority of Singapore’s (MAS) Payment Services…
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Mastercard’s CEO Ajay Banga revealed why the company left the Libra association, while sharing his thoughts on national payment networks such as CBDCs. Mastercard Chief Executive Officer Ajay Banga explained his concerns about Libra in a Feb. 3 interview with the Financial Times. He bashed Libra for its lack of transparency while arguing that national…
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Coincheck exchange tops the app charts, Japan’s central bank head forecasts CBDC demand, and more in news from Japan this past week. This week in Japan, SBI Holdings’ president said to watch for central bank digital currencies, or CBDC, Coincheck exchange tallied top app downloads for exchanges is 2019, Japan’s central bank head forecasted CBDC…
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Cambodia is the latest country to demonstrate serious pro-blockchain action. The National Bank of Cambodia’s new digital currency is called Bakong. It’s effectively a central bank digital currency (CBDC) that was launched on a trial basis throughout Cambodia in July. Chea Serey, director-general of the National Bank of Cambodia, said the system will be operational…
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