The Kenyan central bank has said implementing a central bank digital currency (CBDC) may not be a priority for Kenya in the short to medium term. According to the central bank, Kenya’s “pain points in payments can potentially be solved by strengthening innovations around the existing payment ecosystem.” Central Bank Will ‘Continue to Monitor’ Need…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: JPMorgan Partners with 6 Indian Banks on Blockchain-Based Interbank Transactions, APPG Makes 53 Crypto Recommendations to the UK Government, Charles Hoskinson Warns About the Rise in AI-generated Frauds…
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The central bank released its statement in response to comments on a CBDC discussion paper published in February 2022. The Central Bank of Kenya received comments on a discussion paper on the potential issuance of a digital shilling and hasn’t reached a definitive conclusion. In a June 2 announcement on Twitter, Kenya’s central bank said…
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With 11 megalopolises and three currencies, Guangdong, Hong Kong and Macao make up a region that is ripe for central bank digital currency research. British multinational bank Standard Chartered and PwC China have teamed up to produce a white paper on applications for central bank digital currency (CBDC) in the so-called Greater Bay Area of…
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U.S. lawmakers have introduced a bill to prohibit the Federal Reserve from “establishing, carrying out, or approving a program intended to test the practicability of issuing” a central bank digital currency (CBDC). “CBDCs would threaten the liberties of law-abiding Americans and are being used by authoritarian countries right now to crack down on dissent,” said…
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Eric Horvitz penned a blog post lauding the transformative nature of AI on the same day he cosigned a document warning it could threaten humanity’s very existence. Microsoft’s chief scientific officer, Eric Horvitz, believes artificial intelligence (AI) will allow future humans to flourish, but he’s apparently hedging his bets. Horvitz published a post entitled “Reflections…
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As part of the investigation phase of its digital euro project, the European Central Bank (ECB), which serves as the European Union’s central bank, has released two reports on the institution’s market research and prototyping exercise. The Eurosystem, which includes the ECB and the national central banks of the EU countries whose currency is the…
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Coinbase CEO Brian Armstrong criticized US lawmakers and regulators over their approach to bringing “regulatory clarity” to cryptocurrency and warned that innovation is moving offshore. Countries like China will benefit from “restrictive U.S. crypto policies,” Armstrong said in a MarketWatch opinion article on Tuesday. … Read More: Coinbase CEO Criticizes US Lawmakers, Regulators Over Regulatory Approach,…
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The European Central Bank exercise looked at a variety of use cases, most of which were quite satisfactory, as well as the use of self-custodied wallets. The European Central Bank (ECB) has published a summary of the results of its digital euro central bank digital currency prototyping exercise. The exercise investigated offline use of a…
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The Bank for International Settlements, which serves as a “bank for central banks,” released its latest paper examining retail central bank digital currencies, as its members “are approaching a point” as to whether or not they should move forward in their CBDC work. Central banks representing Canada, Europe, Japan, Sweden, Switzerland, England and the US…
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