Digital Pound Should Be Interoperable with Crypto, U.K. Lobbyists Say
Source: Coindesk Lobby groups and crypto companies in the U.K. are generally welcoming of the government’s plans for a digital pound, but some of them believe the currency should be interoperable with crypto in order to be suitable for the future. The U.K. opened its plans for a digital pound for public comment in February, just as […]
EU Legislation for Digital Euro Is Put on Hold
Source: Coindesk European Union legislation needed to underpin a digital euro, originally due to be published June 28, has been put on hold, CoinDesk has been told. The move follows the leaking of the draft bill, which covers privacy and technical issues for the central bank digital currency (CBDC), and a statement by finance ministers […]
UK Crypto, Stablecoin Laws Approved by Parliament’s Upper House
Source: Coindesk U.K. parliamentarians have voted through a new bill that could recognize crypto as a regulated activity in the country. The approval of the Financial Services and Markets Bill (FSMB) on Monday by Parliament’s upper chamber, the House of Lords, means the bill is going to enter the final stages before it is put […]
Hong Kong Monetary Authority to Prepare for Retail CBDC
Source: Coindesk The Hong Kong Monetary Authority (HKMA) has said it will start laying the foundation to implement a retail central bank digital currency in a report published on Friday. Although it had been looking into the development of a digital version of the Hong Kong dollar – dubbed “e-HKD” –since at least 2017, a recent study […]
Bank of England Targets 30-Strong Team for Digital Currency: Report
Source: Coindesk The Bank of England is looking to build a team of as many as 30 people to develop a central bank digital currency (CBDC), the Sunday Times reported, without saying where it got the figure. In February, the U.K.’s central bank and finance ministry said they were starting further research and development on a digital version […]
India Targeting One Million CBDC Users in Three Months, Prioritizing Offline Transfers: Sources
Source: Coindesk India’s retail central bank digital currency (CBDC-R) architects are aiming to scale the user base of the digital rupee to one million users, and have prioritized solving the challenge of creating an offline version, two people familiar with the matter told CoinDesk. Although RBI officials publicly stated in March they were aiming for 500,000 […]
ANZ Bank Completes Carbon Credits Trading as Part of Australia’s CBDC Pilot
Source: Coindesk Australia and New Zealand Banking Group Limited (ANZ) has completed the first use-case of carbon credit trading as part of Australia’s central bank digital currency (CBDC) pilot, the Melbourne headquartered bank announced on Wednesday. Australia’s CBDC pilot, run by the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC), began last year to […]
Former CFTC Chair Giancarlo: A Privacy-Protecting U.S. CBDC Could ‘Take Over the World’
Source: Coindesk A U.S. central bank digital currency (CBDC) that protects privacy and is free of surveillance tools could set a global standard and reach mass adoption, said former Commodity Futures Trading Commission (CFTC) Chairman Christopher J. Giancarlo. “That [U.S.] digital dollar would take over the world,” Giancarlo, co-founder of the Digital Dollar Project and […]
UAE Unveils CBDC Strategy, First Phase to Be Completed by Mid-2024
Source: Coindesk The United Arab Emirates expects to complete the first phase of its central bank digital currency strategy around mid-2024, its central bank announced on Thursday. This includes proof-of-concept work for a wholesale and retail CBDC. The Central Bank of UAE (CBUAE) also revealed an engagement with G42 Cloud, a cloud platform from the region, and New […]
Australia’s Central Bank Taps Mastercard and Others to Test CBDC Use Cases
Source: Coindesk The Reserve Bank of Australia has revealed a set of projects that will develop use cases for a digital dollar, the eAUD, during its testing phase, currently underway. The projects will look at use cases ranging from offline payments to bond settlement to securities trading, among others, the Australian central bank announced on Thursday morning […]
