CBDC

Leader of Nigerian Crypto Stakeholders’ Body Welcomes the E-Naira — Says It ‘Comes With No Magic Wand’

<div class=”featured_image_container”> </div> <strong>Nigeria’s proposed digital currency, the e-naira, is likely to be a welcome boost to ongoing efforts to reduce the number of Nigerians that are financially excluded, a leader of a stakeholders’ body has said. However, according to Senator Ihenyen, the president of Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), the success …

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Ukrainian President Signs Law Opening Door for Digital Hryvnia, Regulatory Sandbox

<div class=”featured_image_container”> </div> <strong>President Volodymyr Zelensky has signed a law that will allow the National Bank of Ukraine to issue its own digital currency. The new legislation, which aligns Ukrainian regulations with EU rules, will also stiffen authentication requirements for clients of payment service providers. </strong> New Legislation Allows Ukrainian Central Bank to Issue Digital …

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Central Bank Governor: South Africa’s Digital Currency Study Ongoing

<div class=”featured_image_container”> </div> <strong>South African Reserve Bank (SARB) governor, Lesetja Kganyago, has once again confirmed that the central bank is presently studying the feasibility of issuing a digital currency. In his remarks at the SARB’s annual general meeting, governor Kganyago suggested his organization has embarked on this study to keep abreast with the growing trend …

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Fed Governor Lael Brainard Can’t Imagine Future Without Digital Dollar

<div class=”featured_image_container”> </div> <strong>Pointing to a number of reasons why a digital version of the U.S. dollar should be created, Federal Reserve Governor Lael Brainard insisted that not having one wouldn’t lead to a sustainable future. The central bank official believes a digital dollar will have both international and domestic applications. </strong> US Fed’s Lael …

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Central Bank of Ireland Governor Talks Crypto, Praises ‘Secure, Decentralized’ Technology

<div class=”featured_image_container”> </div> <strong>Gabriel Makhlouf, the governor of the Central Bank of Ireland (CBI), has published a blog post in which he shares his views on the digitalization of finance. While echoing concerns expressed by his counterparts regarding cryptocurrencies, the official has also highlighted some of their positives. </strong> Don’t Ignore the Positive Elements of …

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New bill proposes US Treasury to have full authority over fiat stablecoins

A new bill introduced by United States House Democrat Don Beyer of Virginia has proposed a far-reaching regulatory and legal framework for digital assets across the board. Entitled “The Digital Asset Market Structure and Investor Protection Act of 2021,” the bill touches on virtually all the important grey areas that continue to exist regarding cryptocurrencies …

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Digital Yuan to Promote International Use of Chinese Currency, Experts Say

<div class=”featured_image_container”> </div> <strong>The new digital yuan, currently undergoing trials, can help to increase the international usage of China’s national fiat, experts have stated. As the renminbi (RMB, CNY) is becoming one of the world’s most important currencies, the People’s Bank of China is planning to conduct cross-border tests with the yuan’s digitized version, the …

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Countries representing over 90% of global GDP are exploring CBDCs

The quest to understand the opportunities and challenges of a central bank digital currency, or CBDC, is underway in 81 countries, with five nations fully implementing a digital version of their currency, according to a new tracker from the Atlantic Council.  The Caribbean region is home to all five CBDCs that are currently in use, …

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64% of Adults from 10 Different Countries Would Use a Central Bank Digital Currency: Report

<div class=”featured_image_container”> </div> <strong>As central bank digital currencies (CBDCs) advance in testing, a number of countries have taken the lead in an effort to create a CBDC. The enterprise blockchain firm Guardtime recently conducted a survey that shows adults from ten different countries would likely use a CBDC. Nearly two out of three respondents said …

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Report: Nigeria to Start Piloting Digital Currency in October

<div class=”featured_image_container”> </div> <strong>The Central Bank of Nigeria (CBN) has reportedly set October 1 as the commencement date for the trial phase of its digital currency project. Dubbed project Giant, this digital currency project, or the “e-naira,” is expected to use the Hyperledger Fabric blockchain. </strong> CBDC Comes to Life The revelation of the launch …

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