European Banking Authority (EBA) urges swift implementation of stablecoin standards
The European Banking Authority (EBA) has recently emphasised the urgent need for the early adoption of standardised regulations for stablecoins. In an effort to address potential risks and foster stability within the digital asset market, the EBA is pushing for a swift implementation of comprehensive guidelines. With the rapid growth of stablecoins, which are cryptocurrencies […]
MiCA’s stablecoin transaction cap stifles crypto adoption, say lawyers
Source: Cointelegraph Stablecoin use could be “stifled” by daily transaction caps in the European Union’s Markets in Crypto-Assets (MiCA) legislation, with some calling for the framework to be revised. On May 31, MiCA was signed into law, which paved the way for the world’s first regulatory guidance on cryptocurrencies to come into effect. The legislation was received […]
Crypto-friendly DBS Bank launches digital yuan payment tool
Source: Cointelegraph Cryptocurrency-friendly bank DBS is cooperating with mainland China on the development of a new payment solution for the digital yuan, also known as e-CNY. DBS Bank China officially announced on July 5 the launch of the e-CNY merchant solution, allowing mainland businesses to receive payments in the central bank digital currency (CBDC). The new service […]
JPMorgan bank deploys JPM Coin for euro-denominated payments
Source: Cointelegraph The United States-based investment bank JPMorgan is expanding the implementation of one of its major blockchain projects into traditional banking. JPMorgan has deployed its blockchain-based payment system, JPM Coin, to introduce euro-denominated payments for corporate clients, Bloomberg reported on June 23. A spokesperson for JPMorgan confirmed to Cointelegraph that the bank had expanded the JPM […]
CBDCs on the horizon: The current state of CBDC initiatives around the world
Source: Cointelegraph Central bank digital currencies (CBDCs) have long been a topic of contested discussion, having often been met with a predominantly negative response in the crypto community. However, despite the skepticism, CBDCs undeniably serve as a significant use case for blockchain technology. BDCs distributed through blockchain technology can provide cheaper, faster and possibly more […]
Australia marks first FX transaction using a CBDC as eAUD pilot continues
Source: Cointelegraph Australia has successfully made its first foreign exchange transaction using eAUD as part of a live pilot for the country’s potential central bank digital currency. It comes amid a rising interest from countries around the world to learn about or launch central bank-issued digital currencies. Blockchain infrastructure provider Canvas said that on May 17, crypto […]
IMF to publish CBDC handbook in response to increasing demand for guidance
Source: Cointelegraph With interest in central bank digital currencies (CBDCs) at an “unprecedented” level, the International Monetary Fund (IMF) is experiencing heavy demand for guidance in regard to them. In response, the IMF planned to release a CBDC handbook, deputy managing director Bo Li said in a recent speech. The IMF official saw some urgency in meeting […]
Peru considering CBDC to improve payment system: Former IMF adviser
Source: Cointelegraph The Central Reserve Bank of Peru (CRBP) has published a paper that it said will be the first in a series to examine the need, design and timing of a Peruvian central bank digital currency, reported John Kiff, research director at the Sovereign Official Digital Association (SODA). His report concentrates on issues relating to a […]
How and why do stablecoins depeg?
Source: Cointelegraph Stablecoins are a type of cryptocurrency designed to have a stable value relative to a specific asset or a basket of assets, typically a fiat currency such as the U.S. dollar, euro or Japanese yen. Stablecoins are designed to offer a “stable” store of value and medium of exchange compared with more traditional cryptocurrencies […]
India explores offline functionality of CBDCs — RBI executive director
Source: Cointelegraph India’s recently launched in-house central bank digital currency (CBDC) — the digital rupee — is now being tested for offline functionality, revealed Ajay Kumar Choudhary, executive director of the Reserve Bank of India (RBI). The RBI — India’s central bank and regulatory body — launched the wholesale segment pilot for the digital rupee on Nov. 1, 2022, onboarding 50,000 users and 5,000 […]
