Qatar Central Bank is presently examining the possibility of issuing a digital currency as well as digital bank licensing, an official has said. The official adds this study will help the central bank get an understanding of what its area of focus should be. The Growing Significance of CBDC An official with the Qatar Central…
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The bank will work alongside the MIT Media Labs’ Digital Currency Initiative (DCI) team to examine how “advanced technologies could affect the potential design of a CBDC.” The Bank of Canada has partnered with the Massachusetts Institute of Technology (MIT) to work on a 12 month research project focused on the design of a Central…
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“We will not compete against China — an authoritarian dictatorship — by also acting like an authoritarian dictatorship,” said Jake Chervinsky. Jake Chervinsky, head of policy at crypto advocacy group the Blockchain Association, said the United States should be careful to avoid a “totalitarian nightmare” in its potential launch of a central bank digital currency,…
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Sanctions imposed on Russia as a result of its war in Ukraine could lead more countries to consider digital versions of their own currencies – known as central bank digital currencies (CBDCs) – as a counterweight to the dominant role of the US dollar, a former Bank of Japan (BOJ) executive has said…. Read…
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The central People’s Bank of China (PBoC) has added new functionality to its pilot digital yuan app – but it appears that some citizens are already trying to commit crimes using the new token, and have attempted to use it to launder money. Per IT Home, the PBoC’s app, which debuted in 11 cities…
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The Bank of Uganda (BOU) has commenced a study that explores the feasibility of issuing a digital currency. However, an executive with the institution warned that the central bank needed to be clear why it must have this in the first place.
Faster Movement of Money
The Ugandan central bank is reported to…
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“Jamaica Digital Exchange” — Jamaica’s soon-to-be-released CBDC — will see citizens with crypto wallets receive a $16 deposit to help spread awareness and usage. The first 100,000 Jamaican citizens to use the country’s new central bank digital currency (CBDC) known as Jam-Dex, will be given a free $16 payment in the hopes of promoting widespread…
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