Pierre Person, a lawmaker from France’s ruling La République En Marche! (LREM) party, has unveiled a new report which introduces a number of legislative proposals related to crypto and digital assets, pushing for the adoption of crypto legislation in the French parliament. … Read More: French Lawmaker Releases New Report to Push for Crypto Legislation…
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Like a Rorschach ink blot, the Federal Reserve Board’s CBDC discussion paper provided stakeholders with an opportunity to find what they wanted to see in it. In January, the United States Federal Reserve Board of Governors released a discussion paper on a potential U.S. central bank digital currency (CBDC) titled “Money and Payments: The U.S.…
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The Brazilian central bank digital currency (CBDC), the digital real, will be more of a wholesale asset instead of a public retail-focused token, according to statements from the president of the Central Bank of Brazil, Roberto Campos Neto. Campos Neto indicated that private banks in the country will be able to issue their own stablecoins…
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There are now 105 countries that are exploring central bank digital currencies (CBDCs). Among them, 50 countries are in an advanced phase of digital currency exploration (development, pilot, or launch). 105 Countries Are Exploring CBDCs The Atlantic Council’s Geoeconomic Centre has released a major update to its Central Bank Digital Currency (CBDC) Tracker. According to…
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China’s advanced CBDC strategy sees digital yuan airdropped to thousands of people. Meanwhile, Binance Labs raised $500 million for a new Web3 fund. China’s pandemic-hit economy needs all the help it can get after a surge in COVID-19 infections triggered mass lockdowns across the country. In an attempt to revive consumption, the southern city of…
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“One of the reasons it is so successful is because it’s simple,” he added while comparing the Unified Payments Interface’s (UPI) growth with blockchain technology. In discussion with the International Monetary Fund (IMF), T Rabi Sankar, the deputy governor of the Reserve Bank of India (RBI), reflected an anti-crypto stance as he spoke about India’s…
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In constructing its Real Digital, Brazil’s central bank is developing mechanisms that can freeze citizens’ conversion to CBDCs in the event of a bank run. In a paper recently published by the Bank for International Settlements (BIS), Fabio Araujo, an economist at the Central Bank of Brazil (CBB) who is also responsible for the country’s…
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Potentially fueling a bullish approach to bitcoin (BTC) investments, only 17.9% of surveyed individuals said that they do not expect BTC to become legal tender within three years, according to a recent report prepared by The Economist Group and commissioned by crypto platform Crypto.com…. Read More: Just 18% of Respondents Do Not Expect Bitcoin…
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For years, traditional financial institutions in different parts of the world have been attempting to narrow the financial exclusion gap by extending their services to the unbanked population. Yet for many reasons, these institutions still cannot avail their products and services to everyone that needs them. Regulatory Hurdles While there are several reasons cited for…
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Technology is changing fast, but the role of the central bank stays the same, Williams tells an audience of officials, scholars and financial industry leaders. Get ready for a fundamental change in money and payments, John Williams, president and CEO of the Federal Reserve Bank of New York, told central bank officials, academics and financial…
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