The Reserve Bank of India (RBI) will soon launch pilot tests for its upcoming digital rupee in a bid to increase awareness around its Central Bank Digital Currency (CBDC). The country’s central bank announced the news on Friday, detailing that the digital rupee will be available for specific use cases during the pilot. In a statement, the…
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India’s Reserve Bank outlined the pros and cons of a digital rupee as it looks to raise awareness around its CBDC project. The Reserve Bank of India (RBI) has outlined the proposed features and reasoning behind its in-development central bank digital currency (CBDC) in a 51-page note published on Oct. 7. The country’s central bank…
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The Bank of Namibia recently said it has brought virtual assets and virtual asset service providers under its fintech innovations regulatory framework, and that it plans to amend applicable laws and regulations. According to the central bank’s governor, there is an ongoing “battle between regulated and unregulated money on the one hand and sovereign versus…
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The House members claimed the “appropriate place for the discussion” on legislation concerning a digital dollar would be in the U.S. legislative branch. Republican members of the House Financial Services Committee have requested the Department of Justice provide its assessment and legislative proposals around a digital dollar within ten days. In an Oct. 5 letter…
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Terra’s co-founder continues his adventures, writing code in his living room, posting on Twitter and hiding from Interpol all at once. Terra co-founder Do Kwon, wanted by South Korean authorities, seems to live in a digital-era James Bond movie. The businessman, whose whereabouts are currently unknown, reacted via Twitter to Interpol issuing a Red Notice…
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Central Bank of Russia has introduced digital assets, including the digital version of the Russian ruble, to the recently published draft of the new banking chart of accounts. In the future, financial institutions will be able to provide data about operations with these assets.
Russian Banks to Record Digital Currencies as Assets in Their Accounting…
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A U.S senator has introduced the “No Digital Dollar Act to prohibit the U.S. Treasury and the Federal Reserve from interfering with Americans using paper currency” if a central bank digital currency is adopted. The bill further states: “No central bank digital currency shall be considered legal tender under section 16 5103 of title 31,…
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A combination of centralization and decentralization is a perfect mix for the development of crypto and DeFi, according to a Swiss National Bank official. Central bank digital currencies (CBDC) can work well with decentralized finance (DeFi), and they have a lot of potential to boost DeFi adoption, according to a Swiss central bank official. Among…
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