The Bank of England is exploring the possibility of offline digital payment systems for a digital pound, having shown that such technology could work. Their recent project involved partnerships with several tech firms to test phone-to-phone and card-to-phone payments without needing an internet connection. While they found the technology feasible, decisions on implementation will depend ...
The Bank of England has explored the feasibility of offline digital payments, looking into a system that allows transactions between phones and cards without an internet connection. Their project, which involved several tech partners, confirmed that while such a system could work, key decisions about security, risk, and user experience are still needed. Currently, no ...
The European Central Bank (ECB) is raising alarms about the growing use of US dollar stablecoins in Europe. Piero Cipollone, an ECB executive board member, emphasizes the urgent need for a digital euro to safeguard monetary sovereignty in the eurozone. He argues that a central bank digital currency (CBDC) could reduce reliance on foreign stablecoins ...
West Virginia is considering a Bitcoin strategic reserve bill aimed at increasing the state’s independence from the federal government and reducing reliance on a potential central bank digital currency. State Senator Chris Rose, who sponsors the bill, highlighted that it would allow the state to invest 10% of public funds in assets like Bitcoin, stablecoins, ...
Kazakhstan is making strides with its digital currency, the digital tenge, as outlined by Binur Zhalenov, the chief digital officer at the National Bank of Kazakhstan. In an interview, Zhalenov emphasizes the transformative potential of the digital tenge for financial transactions and highlights the importance of combining public and private financial systems. With plans to ...
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 ...
The European Central Bank is considering limits for the digital euro, potentially ranging from €1,000 to €10,000. This decision is significant as the digital euro’s preparation phase concludes in October, though legislation is still pending. Holding limits are crucial because they could influence how much money consumers move from their bank accounts to the digital ...
The European Central Bank (ECB) is pushing ahead with plans to launch a digital Euro this year, despite the recent selloff in cryptocurrencies like Bitcoin. While legislation is still pending in the European Parliament, the ECB believes a digital Euro is crucial for the EU’s financial future. Some countries, including Spain, are hesitant about this ...
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 newly appointed Prime Minister of Canada, is facing scrutiny over his past views on cryptocurrency. Previously, as the Governor of the Bank of England, Carney criticized Bitcoin, labeling it a poor store of value and emphasizing concerns over unregulated private stablecoins. He advocates for a central bank digital currency (CBDC) to improve ...
