Central Bank Digital Currency

Indian startup Mintoak, backed by global payments giant PayPal Holdings Inc. (NASDAQ:PYPL) has acquired fintech player Digiledge, marking the first acquisition in the country’s developing central bank digital currency space. What Happened: Mintoak, a...

Representative Tom Emmer (R-Minn.) on Tuesday voiced strong opposition to the potential implementation of a Central Bank Digital Currency (CBDC) in the United States without stringent Congressional oversight and adherence to fundamental American values. What Happened: In an interview with Bloomberg...

Bim Afolami has been assigned as the new economic secretary to the Treasury in the United Kingdom, a position that involves overseeing policies related to cryptocurrencies and central bank digital currencies (CBDCs). This appointment was part of a recent cabinet reshuffle by Prime Minister Rishi...

Amid the ongoing debates in U.S. House of Representatives concerning the oversight of stablecoin issuers, Federal Reserve Vice Chairman for Supervision Michael Barr has made his stance clear: federal regulation is necessary. Barr's comments emerge as a critical voice in a debate that sees...

Standard Chartered Bank's (OTC: SCBFF) SC Ventures and Deutsche Bank (NYSE: DB) have successfully conducted a Universal Digital Payments Network (UDPN) proof-of-concept, facilitating real-time transactions between USD Coin (CRYPTO: USDC) and EURS stablecoins. In this initiative, SC...

Michelle Bowman, a member of the U.S. Federal Reserve Board, expressed reservations about the necessity and viability of a U.S. central bank digital currency (CBDC). During a discussion at Harvard Law School on Tuesday, she said, "The potential benefits of a U.S. CBDC remain unclear, and the...

Australia's Treasury unveiled draft legislation concerning licensing and custody guidelines for cryptocurrency asset providers. Once this legislation is ratified, exchanges will be provided a 12-month window to adjust to the new framework, Coindesk reported. The earliest an Australian digital...

The Bank of Canada believes a Central Bank Digital Currency (CBDC) can play a transformative role in enhancing financial inclusion.  One of the standout revelations from the report, titled "Redefining Financial Inclusion for a Digital Age: Implications for a Central Bank Digital...

The U.S. House of Representatives is set to deliberate on a new crypto bill after it received the green light from a committee on Wednesday. This move signified a step forward for the digital assets legislative process in Congress. The bill, championed by Republicans in the House...

The rise of Central Bank Digital Currencies (CBDCs) and blockchain technology is signaling a transformative era for the global banking sector. That's according to Anatoly Aksakov, Chair of Russia’s parliamentary financial committee. "The traditional role they played will gradually...

Ohio Congressman Warren Davidson has expressed strong opposition to Central Bank Digital Currencies (CBDCs), emphasizing the potential risks they pose to the digital asset ecosystem. In a series of tweets, the House Representative highlighted the misconceptions surrounding CBDCs and other digital...

Miami Mayor and U.S. Presidential candidate Francis Suarez is known for his pro-Bitcoin (CRYPTO: BTC) stance, especially if it's in the form of a campaign donation. What Happened: "Officially, my campaign is accepting Bitcoin," he announced on CoinDesk TV. Contributors can now make a...

Despite the rapid proliferation of stablecoins, many regulators are apprehensive about adopting the technology, particularly in emerging economies. What Happened:"Unbacked cryptocurrencies — we don't believe are anything that answers to anything, which is a financial asset or...

The Bank for International Settlements (BIS) has rolled out a new security and resilience framework aimed at protecting Central Bank Digital Currencies (CBDCs) from the ever-evolving landscape of cyberthreats. Developed by the BIS Innovation Hub Nordic Centre, the Polaris framework is a response to...

The European Commission has unveiled an ambitious vision that aims to lay the groundwork for the creation of a digital form of the euro. Goal Of Modernizing Euro Currency The initiative seeks to modernize the currency, ensuring that citizens and businesses throughout the eurozone can continue to...