Central Bank Digital Currency

Georgia’s central bank is exploring ‘Digital Gel’ CBDC

The National Bank of Georgia said that it is considering launching a central bank digital currency. In an announcement today, the central bank hinted at the issuance of a central bank digital currency, or CBDC, in an effort “to enhance efficiencies of the domestic payment system and financial inclusion.” The National Bank of Georgia, or …

Georgia’s central bank is exploring ‘Digital Gel’ CBDC Read More »

Morgan Stanley Says Central Bank Digital Currencies Not a Threat to Cryptocurrencies

<div class=”featured_image_container”> </div> <strong>Major investment bank Morgan Stanley believes that central bank digital currencies are not a threat to the existence of cryptocurrencies. The bank believes that both types of digital currencies can coexist because they serve different purposes and have different appeals.</strong> Cryptocurrencies and CBDCs Can Coexist Morgan Stanley’s analysts, including chief economist Chetan …

Morgan Stanley Says Central Bank Digital Currencies Not a Threat to Cryptocurrencies Read More »

Bank of England and HM Treasury Launch a Central Bank Digital Currency Taskforce

<div class=”featured_image_container”> </div> <strong>Her Majesty’s Treasury and the Bank of England have revealed the establishment of a central bank digital currency (CBDC) taskforce. According to the announcement, the group’s purpose aims to explore a potential UK CBDC.</strong> UK Entities Invoke a CBDC Taskforce to Explore a Central Bank-Issued Digital Currency Central bank digital currencies (CBDCs) …

Bank of England and HM Treasury Launch a Central Bank Digital Currency Taskforce Read More »

The Fed Is Carefully Examining Digital Dollar — Chairman Jerome Powell Says ‘Very High Priority Project for Us’

<div class=”featured_image_container”> </div> <strong>Federal Reserve Chairman Jerome Powell has provided an update on the progress of a digital dollar. He confirmed that it is a “very high priority project” for the Fed, and agrees with U.S. Treasury Secretary Janet Yellen on the benefits of issuing a digital dollar.</strong> The Fed Is Looking Carefully at a …

The Fed Is Carefully Examining Digital Dollar — Chairman Jerome Powell Says ‘Very High Priority Project for Us’ Read More »

Indian Parliament to Consider Bill That Creates Digital Rupee While Banning Cryptocurrencies in Current Session

<div class=”featured_image_container”> </div> <strong>The Indian government has finally moved forward with a cryptocurrency bill. Entitled “The Cryptocurrency and Regulation of Official Digital Currency Bill 2021,” the bill has been listed for consideration in the current parliamentary session of Lok Sabha, the lower house of India’s parliament. It seeks to create a framework for India’s official …

Indian Parliament to Consider Bill That Creates Digital Rupee While Banning Cryptocurrencies in Current Session Read More »

Indian Central Bank Sees Cryptocurrencies Gaining Popularity, Exploring Digital Rupee

<div class=”featured_image_container”> </div> <strong>India’s central bank, the Reserve Bank of India (RBI), has published a booklet with a section about cryptocurrency and the digital rupee. The central bank acknowledged that cryptocurrencies have gained popularity in recent years and confirmed that it is exploring the need for a central bank digital currency.</strong> RBI Says Crypto Has …

Indian Central Bank Sees Cryptocurrencies Gaining Popularity, Exploring Digital Rupee Read More »

The ‘central bank of central banks’ is building a CBDC settlement platform

CBDC research has been announced as a top priority for the Bank for International Settlements’ Innovation Hub, or BISIH, in 2021. According to its annual work program, BISIH, plans to “explore the feasibility of faster and cheaper cross-border payments” using central bank digital currencies. BISIH also stated it will explore prototypes of “tiered retail CBDC …

The ‘central bank of central banks’ is building a CBDC settlement platform Read More »

Debate Rages on Whether a Digital Dollar Will Unleash Inflation

With record U.S. money printing failing to achieve much-needed economic stimulus, some observers now expect creation of a “digital dollar” central bank digital currency (CBDC) will not only speed payments to consumers but also spur inflation. The Federal Reserve has consistently undershot its 2% inflation target since the Great Recession of 2008, and the situation …

Debate Rages on Whether a Digital Dollar Will Unleash Inflation Read More »

Reserve Bank of Australia forms partnerships to research CBDC

According to a Nov. 2 announcement from The Reserve Bank of Australia, or RBA, the financial institution will be partnering with the Commonwealth Bank, National Australia Bank, the financial services company Perpetual, and software company ConsenSys on a project to explore the potential use of a wholesale central bank digital currency in the country using “Ethereum-based …

Reserve Bank of Australia forms partnerships to research CBDC Read More »

Digital Yuan Giveaway: China’s Shenzhen City Hands Out 10 Million Yuan in Central Bank Digital Currency

A major Chinese city is giving away 10 million yuan in the country’s central bank digital currency this weekend. Recipients can use their digital yuan at 3,389 stores next week. The city aims for the giveaway to boost usage of the new government-backed digital currency. Chinese City Giving Away Digital Yuan The Chinese city of …

Digital Yuan Giveaway: China’s Shenzhen City Hands Out 10 Million Yuan in Central Bank Digital Currency Read More »