The Central Bank of Russia and participating commercial banks want to test various types of payments with the digital ruble, the Russian press reported. The plan is to experiment with smart contracts and transactions related to real estate and crypto asset purchases.
Bank of Russia to Launch Smart Contracts on Digital Ruble Platform
Russia’s…
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“It is now time for Congress to begin the process of considering and ultimately passing authorizing legislation for the issuance of a U.S. CBDC,” said Representative Jim Himes. Connecticut House of Representatives member Jim Himes has released a proposal aiming to start a dialogue on the United States potentially launching a central bank digital currency,…
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Digital yuan usage has grown x18 in the past 12 months in China – as the central bank-issued token continues to find new users. According to the central People’s Bank of China, transaction volumes reached the USD 13 billion mark at the end of last year, with a total of 261 million personal wallets…
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The international bank found high technical feasibility among the projects, but significant work on legal and governance frameworks still remains to be done. The Bank of International Settlements (BIS) Innovation Hub released a report Tuesday looking at four projects that examined wholesale central bank digital currency (CBDC) transfers across borders. The projects demonstrated the technical…
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The governor of the Jamaican central bank has warned people using or who have plans to use cryptocurrencies to be mindful of the associated risks. The governor added that cryptocurrencies’ unpredictability means they cannot function as a medium of exchange. Not Stable Enough to Be Good Means of Payment The governor of the Bank of…
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The European Central Bank (ECB), the central bank of the European Union, is advancing discussions on the digital euro project, but decision-makers argue that is possible to fit the central bank digital currency (CBDC) with effective tools that would prevent it from being used as a form of investment – rather, it would only…
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Cryptocurrencies are very unstable for them to become a widely used method of payment, the Nigerian and Kenyan central bankers have reportedly said. In addition, the bankers claim that cryptocurrencies also pose a risk to financial stability. Narrowing the Financial Exclusion Gap The Nigerian and Kenyan central bankers have said cryptocurrencies are too volatile to…
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