Recent news claims that China has connected its digital RMB cross-border payment system to ten ASEAN countries and six Middle Eastern regions. However, this information lacks a reliable source and may be exaggerated. While China is part of mBridge, a joint effort for cross-border payments using digital currencies, the actual involvement of ASEAN and Middle ...
The United Arab Emirates plans to launch its digital currency, the digital dirham, in late 2025. This new blockchain-based currency aims to enhance financial stability and fight financial crimes, according to the Central Bank’s Governor, Khaled Mohamed Balama. The digital dirham will be accepted alongside the physical dirham across all payment systems, promoting innovative digital ...
European consumers are largely uninterested in adopting a central bank digital currency (CBDC) like the proposed digital euro, according to a recent European Central Bank (ECB) study. The survey of nearly 19,000 people across 11 euro-area countries found that most prefer traditional payment methods and see no significant advantage in switching to a digital euro. ...
European consumers are largely uninterested in adopting a central bank digital currency (CBDC) like the proposed digital euro, according to a recent European Central Bank (ECB) study. The survey of nearly 19,000 people across 11 euro-area countries found that most prefer traditional payment methods and see no significant advantage in switching to a digital euro. ...
The new GENIUS stablecoin bill is seen by Jean Rausis, co-founder of Smardex, as a way for the US government to gain control over stablecoins, similar to central bank digital currencies (CBDCs). He argues that by regulating stablecoin issuers, the government can monitor and potentially freeze transactions, ultimately leading to more centralized control. The GENIUS ...
U.S. House Majority Whip Tom Emmer and Rep. Bryan Steil are leading a group of nearly 100 Republicans to introduce new legislation aimed at banning central bank digital currency (CBDC) in the United States. They argue that a government-issued CBDC could lead to unwanted surveillance and threaten Americans’ privacy rights. Emmer emphasizes the need for ...
Mark Carney, the new Prime Minister-designate of Canada, is facing scrutiny over his past comments on cryptocurrency. Previously, as the Bank of England’s governor, he labeled Bitcoin a “poor store of value” and called for strict regulations on cryptocurrencies and stablecoins to prevent Market fraud. While he advocates for a central bank digital currency (CBDC) ...
Russia’s Central Bank has announced the indefinite postponement of its blockchain-based “Digital Ruble” launch, which was previously set for July 1, 2025. Central Bank Governor Elvira Nabiullina addressed the public, mentioning that more discussions with banks are needed to finalize the economic model for the digital currency. Although pilot tests have shown participation from several ...
Central Bank Digital Currencies (CBDCs) are gaining traction as central banks explore new ways to issue digital money. Unlike traditional banks, individuals can’t open accounts at central banks, but CBDCs could change that by offering a digital form of cash. These currencies aim to replicate the benefits of cash, such as privacy and instant transactions, ...
Central banks are making strides in developing digital currencies, but the journey to launch a central bank digital currency (CBDC) is challenging, with few central banks ready to proceed. A recent report highlighted the urgency for issuing retail CBDCs, showing that many emerging Market central banks expect to introduce them in the next two years, ...
