On Sep. 20 the House Financial Services Committee will mark up two bills blocking a potential digital dollar in the United States. The United States House Financial Services Committee is moving forward with legislation aimed at preventing the issuance of a central bank digital currency. According to an announcement from chairman Patrick McHenry, the Committee…
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U.S. Congressman Tom Emmer, with the support of 49 Republican lawmakers, reintroduced the CBDC Anti-Surveillance State Act. This legislation seeks to block the issuance of a retail central bank digital currency (CBDC) that could undermine Americans’ right to financial privacy, as per the US congressman. … Read More: Republican Lawmakers Reintroduce CBDC Anti-Surveillance State Act to…
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The Federal Reserve’s vice chair for supervision has affirmed that the U.S. central bank is “a long way” from making a decision on whether to issue a central bank digital currency (CBDC). The Fed official also voiced concerns regarding USD stablecoins, emphasizing that they “could pose significant risks to financial stability, monetary policy, and the…
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Circle, a financial services company, has announced a new partnership with Mercado Pago, Mercado Libre’s digital payments wallet, to bring the USDC stablecoin to its Chilean customers. The partnership will allow millions of users in Chile to access USDC via Mercado Pago’s services and leverage it as a digital representation of the U.S. dollar for…
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The America First Policy Institute (AFPI) recently sounded the alarm on the potential dangers of transitioning to a central bank digital currency (CBDC). This revelation, in a report penned by Michael Faulkender and David Vasquez, highlights the probable perils associated with the Federal Reserve’s direct issuance of a digital dollar. AFPI: A CBDC ‘Would Represent…
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U.S. Congressman Warren Davidson has railed against central bank digital currencies (CBDC), stating that enacting a ban on these instruments is “essential” for the future of the fintech industry in America. Davidson explained that many people wrongly conflate cryptocurrencies with CBDC when these are two different concepts. Congressman Warren Davidson: ‘CBDC Is Evil’ Congressman Warren…
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The U.S. dollar will be stronger if it’s not a central bank digital currency (CBDC), according to candidate for Republican presidential nomination Vivek Ramaswamy. He is convinced that a digitized greenback and other digital fiats represent a threat to democracy in the United States. CBDC Is the ‘Latest Trojan Horse of the Great Reset,’ Opponent…
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The project simulated transfers to customers of BDO Unibank in the Philippines with improved settlement time, cost and transparency. The Digital Dollar Project (DDP) announced the completion of a pilot study of remittance payments to the Philippines using a simulated retail central bank digital currency (rCBDC). Western Union and BDO Unibank were partners in the…
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Speaking at the Family Leadership Summit on July 14, DeSantis promised to ban CBDCs in the United States if he is elected president. United States presidential candidate Ron DeSantis once again criticized central bank digital currencies (CBDCs), arguing against the possibility of a digital dollar in the country. Speaking at the Family Leadership Summit on…
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On June 15, the San Francisco-based cryptocurrency exchange Coinbase announced that customers can now earn 4% rewards on the stablecoin USDC. The news follows Coinbase’s current dispute with the U.S. Securities and Exchange Commission (SEC) over the firm’s staking-as-a-service product. Coinbase Rolls Out 4% Stablecoin Rewards for Global Customers, Except Hawaii Residents Coinbase is now…
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