North Carolina House Passes Bill Banning CBDC Payments to the State
The North Carolina House has passed a bill that would prohibit the state from accepting payments in the form of central bank digital currencies (CBDCs). The bill, which has been sent to the Senate for consideration, aims to protect the state's financial system from potential risks associated with CBDCs, such as the potential for fraud or abuse.
Hebei, China, Issues Digital Yuan Discount Coupons
The Chinese province of Hebei is promoting the adoption of digital yuan by issuing discount coupons to residents, which can be used to get subsidized discounts of up to $73 at participating vendors. The event is being organized by the local government and the central People's Bank of China, with a state-owned commercial bank also participating.
Robert F. Kennedy Jr. Wades Further Into Crypto Following Anti-CBDC Remarks
Democratic presidential candidate Robert F. Kennedy Jr. criticized what he called a “war on crypto” following earlier remarks he made opposing a U.S. central bank digital currency, or CBDC.
Bhutan Quietly Operates Bitcoin Mining Operation Powered by Hydroelectric Resources
Bhutan, the small kingdom known for measuring Gross National Happiness, has reportedly been operating a Bitcoin mining operation using its abundant hydroelectric resources. According to Forbes, Bhutan started developing state-run mining operations in 2020 to use the country's hydroelectric plants to power Bitcoin mining machines, which solve complex mathematical problems to earn Bitcoin rewards.
Crypto Morning Briefing: Mastercard Teaming With Solana, Polygon on New Crypto Credential Standards
Visa to Develop Brazilian Blockchain-powered CBDC Project; PayPal Extending Crypto Transfers to More Than 60 Million Venmo Customers
Mauritius Planning To Launch Pilot Project for Retail Digital Rupee Late This Year
Mauritius plans to launch the pilot phase of a digital rupee in November, Bank of Mauritius governor Harvesh Kumar Seegolam announced. Many of the parameters of the perspective central bank digital currency (CBDC) are already in place.
Visa to Develop Brazilian Blockchain-powered CBDC Project
The payments giant Visa has unveiled a new blockchain and central bank digital currency (CBDC) project in Brazil. Per the Brazilian media outlet Livecoins, the firm was selected by the Brazilian central bank to “explore” “innovative” on blockchain technology-powered “usage cases” for the prototype digital real.
European Bankers on Digital Euro: ‘ECB Has No Interest in Users’ Personal Data’
The Views Magazine's April issue featured the opinions of private and public banking institutions on the digital euro, as stakeholders within the European Union continue to research the potential of a single central bank digital currency (CBDC). Evelien Witlox, the program manager of digital euro at the European Central Bank (ECB), laid out three digital euro use cases prioritized by the ECB. Private bankers raised concerns about the digital euro's impact on their business model, but Burkhard Balz, a member of the executive board at Deutsche Bundesbank, believes that the private sector should run the distribution of the digital euro. The magazine also features interviews with American and Asian officials on the prospects of crypto regulation in general. On April 24, the ECB released its third progress report on digital euro design, featuring onboarding by payment service providers, touchless in-store sales, online and cross-border functionalities.
Circle Policy Head Shares Key Predictions on Potential Digital Euro
Patrick Hansen, the Director of EU Strategy and Policy at stablecoin issuer Circle has shared some key predictions concerning the proposed Central Bank Digital Currency (CBDC) for the European Union. While the CBDC, also dubbed the Digital Euro is yet to be launched, Hansen said should it be launched, it will exist in three different forms.
Don’t Cap Digital Euro Holdings, European Parliament Study Says
A digital euro system shouldn’t limit users’ holdings, a paper produced for the European Parliament said, arguing that the risks to financial stability of people deserting conventional banks are overstated.
