The governor of the Bank of Mauritius told a meeting of central bank technologists about the development of the island nation’s CBDC ambitions. Mauritius plans to launch the pilot phase of a digital rupee in November, Bank of Mauritius Governor Harvesh Kumar Seegolam announced. Many of the parameters of the prospective central bank digital currency…
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The payments giant Visa has unveiled a new blockchain and central bank digital currency (CBDC) project in Brazil. Per the Brazilian media outlet Livecoins, the firm was selected by the Brazilian central bank to “explore” blockchain technology-powered “usage cases” for the prototype digital real. The bank is hopeful of debuting its coin later this year.…
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Russia’s central bank digital currency (CBDC) could be released before 2023 is out, the government has claimed. Lenta.ru reported that 19 Russian banks are currently working with the Central Bank on its latest phase of digital ruble testing. Moscow wants to fast-track the rollout of its CBDC in a bid to de-dollarize international trade. The…
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South Korea is edging closer to a central bank digital currency (CBDC) launch, with a new draft law set to create legal terminology for CBDCs. Herald Kyungjae reported that a new bill will soon roll out in the National Assembly, and will include clauses that spell out the legal differences between cryptoassets and CBDCs…. Read…
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A new central bank digital currency (CBDC) in Europe would be designed with privacy in mind, although it would never be as private as cash is, according to a European Central Bank (ECB) official. Speaking before the European Parliament’s Committee on Economic and Monetary Affairs on Monday, ECB board member Fabio Panetta said a euro…
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The digital euro, if it is created, will be available to Eurozone users first through familiar onboarding procedures. The European Central Bank (ECB) released its third progress report on digital euro design on April 24. This time the bank looked at access and distribution options that have been endorsed by the ECB’s Governing Council. Convenience…
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A Chinese city wants to pull off a world first – by becoming the first city to pay its employees entirely in a central bank digital currency (CBDC). The move would be a massive breakthrough for the People’s Bank of China (PBoC) and its digital yuan token…. Read More: Chinese City to Pay Salaries ‘100%’…
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China was one of the first nations to start working on its CBDCs. However, despite the completion of its development, the government is yet to officially launch the CBDC. China is expanding the use cases for its central bank digital currency (CBDC) called digital yuan or e-CNY for its Belt and Road initiative and cross-border…
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Civil servants including public service personnel, public institution personnel and personnel of state-owned units at all levels in the city will be compensated in digital RMB payment. A notice issued by authorities governing the Chinese city of Changshu stated that all civil servants in its jurisdiction will be paid their full salaries in digital RMB…
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