The Eurogroup confirmed its support for digital euro research and noted that some of the design and use elements under consideration would require political decision making. The finance ministers from the eurozone countries have released a statement on the introduction of the digital euro after a meeting in Brussels. The Eurogroup meets regularly to discuss…
Read more
Tony Yates, the former senior adviser of the Bank of England, argues that CBDCs are not worth the headache. Central banks worldwide are pushing forward with digital asset projects despite the various crypto industry implosions of the past 12 months. China has rolled out its central bank digital currency (CBDC) to several cities and made it…
Read more
The Bank of Tanzania is waiting for the conclusion of its research into CBDCs before making a final decision on adoption. Tanzania’s central bank says it is still considering the introduction of a central bank digital currency (CBDC) but will be a taking “phased, cautious and risk-based approach” after identifying several challenges that could impact…
Read more
The Sand Dollar, a digital version of the Bahamian dollar, is in a tight spot within the island nation following the unprecedented collapse of cryptocurrency exchange FTX. FTX, once the third-largest cryptocurrency exchange in the world with a valuation of $32 billion at its peak, was based in The Bahamas. Therefore, after the exchange filed for…
Read more
Tascombank, one of the oldest banking institutions in Ukraine, has completed the pilot testing of a digital currency based on the Stellar network. The bank believes that its electronic money platform represents an economically viable implementation of blockchain technology. Tascombank Conducts Tests With New Ukrainian Digital Currency An “electronic hryvnia” has been tested by Ukraine’s…
Read more
Another update to China’s digital yuan app is allowing users in pilot zones to pay using their cell phone – even if their devices have run out of battery or have no mobile signal. Per Shanghai Securties News, Android users can now toggle a function that lets them “pay without network and/or electricity” in the…
Read more
The report concentrates on real-world research from low- and middle-income countries and untangles questions of inclusiveness, trust and functionality. The Massachusetts Institute of Technology (MIT) Digital Currency Initiative (DCI) and associated organizations marshaled a sizable team of researchers in four low- and middle-income countries — India, Indonesia, Nigeria and Mexico — to study inclusion issues…
Read more
The latest Bank of International Settlements bulletin looks at ways to mitigate the risks of crypto assets and suggests traditional finance could get its house in better order too. Economists at the Bank of International Settlements (BIS) took a look at the risks inherent in the crypto ecosystem and came up with a seemingly novel…
Read more
The U.K. is mulling over launching a digital pound as it remains committed to becoming a cryptocurrency hub, a government representative has indicated. British authorities should also regulate payments with stablecoins, according to the official. United Kingdom Prepares to Begin Consultation on Digital Pound Currency The executive power in London is considering the introduction a…
Read more
The UK capital’s governing body is partnering with the Digital Pound Association and other trade groups to promote good crypto policy and practice and the UK’s position as a global financial center. The City of London has teamed up with a variety of trade associations to form the UK Forum for Digital Currencies, an alliance…
Read more
