Explained: CBDC, the ‘digital rupee’ that RBI could introduce this year, and how it will help
Original Source: The Indian Express Reports on Monday (August 22) said the Reserve Bank of India’s (RBI) digital rupee — the Central Bank Digital Currency (CBDC) — may be introduced in phases beginning with wholesale businesses in the current financial year. In her Budget speech on February 1, Finance Minister Nirmala Sitharaman had said that the central […]
Nigeria’s CBDC eNaira Used for Nearly $10M Worth of Transactions Since October
Original Source: Coindesk Nigeria’s central bank digital currency (CBDC), the eNaira, has been used to carry out transactions worth 4 billion naira ($9.3 million) since it was introduced last October, according to country’s central bank governor. In a speech on Thursday, Central Bank of Nigeria (CBN) Governor Godwin Emefiele described the volume and value of […]
The Central Bank of Colombia Is Studying the Creation of a Digital Currency
Original Source: Bitcoin.com The Central Bank of Colombia is studying the launch of a digital currency, according to statements made by its manager, Leonardo Villar. The organization is evaluating the launch of this instrument as a means of unifying the different digital wallets in the country, making them interoperable and easier to use for customers. […]
UK Crypto Industry Welcomes New Stablecoin Rules, Awaits Guidance
Original Source: Coindesk Crypto advocates in the U.K. have largely welcomed a new bill that could bring digital assets like stablecoins into the scope of local payments regulation. But there’s uncertainty about how the new rules will look like, should the bill pass. The bill is scheduled to be debated in Parliament for the first […]
Working Paper Series: The economics of central bank digital currency (CBDC)
Original Source: European Central Bank (ECB) Abstract This paper provides a structured overview of the burgeoning literature on the economics of CBDC. We document the economic forces that shape the rise of digital money and review motives for the issuance of CBDC. We then study the implications for the financial system and discuss of a […]
A sound regulatory approach for digital assets
Original Source: Quant Over the last five years, investment in cryptocurrency increased from $100 billion to a market cap of $3 trillion in November 2021. During that time, crypto went mainstream. In the UK, ads for crypto exchanges popped up on the underground, billboards and sports stadiums. Consumers were attracted to this new, high-performing asset […]
Reserve Bank of Zimbabwe ‘Developed a Roadmap for Adoption of CBDC,’ Says Governor
Original Source: Bitcoin.com The governor of the Zimbabwean central bank, John Mangudya, recently said his organization “has developed a roadmap for adoption of CBDC [central bank digital currency] in Zimbabwe.” Mangudya also revealed that two fintech startups had been admitted into the central bank’s fintech regulatory sandbox. Stakeholders’ Views Wanted Nearly six months after announcing […]
Central African Republic President Says Successful Launch of Sango Coin a Key Milestone
Original Source: Bitcoin.com According to Central African Republic President Faustin-Archange Touadéra, his country’s launch of the “Sango coin” currency, as well as the call for the creation of a common digital currency by the regional central bank, represent two key achievements for his country and all of Africa. President Touadéra also said “Sango is the […]
Bank of England: Minutes of the CBDC Engagement Forum (July 2022)
Original Source: Bank of England Minutes Date: 1 July 2022 Item 1: Welcome Co-chairs Gwyneth Nurse and Jon Cunliffe welcomed Members to the fourth meeting of the CBDC Engagement Forum. Item 2: Debrief of the last Technology Forum The Bank of England provided a brief summary of the June Technology Forum meeting Item 3: CBDC Payment […]
Digital euro: new details emerge on how to limit CBDC holdings
Original Source: Ledger Insights The President of the Deutsche Bundesbank, Dr. Joachim Nagel, shared new details about plans for a digital euro during a July speech. While he covered the usual motivations and risks of a central bank digital currency (CBDC), he added some detail on how holdings of digital euros might be limited. In the past, there has […]
