Central Bank Digital Currencies Will Affect Your Investments and Financial Future
The Federal Reserve currently only recognizes one form of currency: physical Federal Reserve notes.
Novatti and AUDD Take Part in CBDC Pilot
Novatti, a payments technology provider, and AUDD, a fintech company, have taken part in a central bank digital currency (CBDC) pilot project in Australia. The project is being led by the Reserve Bank of Australia (RBA) and aims to explore the potential use cases and benefits of a CBDC.
Regulations Governing Tokenized Deposits and Crypto Assets in South Africa Set To Effect in January 2025
Regulations governing tokenized deposits and crypto assets are likely to become effective on Jan. 1, 2025, a senior fintech analyst at the South African central bank has revealed. However, according to the analyst, regulators are still trying to understand or learn the risks that come with using distributed ledger technology.
Nigerian Digital Currency Transactions up 63% Says Central Bank Boss
According to the Nigerian central bank governor, central bank digital currency or e-naira transactions have gone up 63% to $47.7 million, while the number of downloaded wallets since Oct. 2022 is around 13 million. The governor attributed the rise in the value of CBDC transactions to the Nigerian government’s use of the e-naira when transferring social welfare funds to marginalized groups. (Bitcoin.com)
Bank Profits at Risk From Potential CBDC Transformation of Global Economy: Moody’s
Emerging central bank digital currency (CBDC) cross-border transaction technology could transform the global economy by providing faster, cheaper and safer services for many of its players. But banks may not fare as well in that new economy, Moody’s Investor Service said in a report dated March 21.
Digital Pound — Central Bank Digital Currency (CBDC)
This article introduces the advantages and disadvantages of CBDC，and some potential comparisons between digital pound and other developing technologies.
Republican Senator Proposes Bill to Outlaw U.S. Government’s Central Bank Digital Currency
Republican Senator Ted Cruz has proposed a bill that would prohibit the establishment of a central bank digital currency (CBDC) by the U.S. government. Senator Cruz, along with co-sponsors Senators Mike Braun and Charles E. Grassley, argued that a CBDC issued and backed by the government entity could lead to centralisation of Americans' financial information, leaving it vulnerable to attack, and could potentially be used as a direct surveillance tool for transactions.
Adopting CBDC Could Destabilize Banks, Help Households, US Treasury Study Says
Fully integrating a stablecoin or central bank digital currency (CBDC) into the economy would destabilize banks but improve household welfare, a study released by a United States Treasury division has claimed. The harm to banking caused by the digital currencies could be “significant” in times of stress, it found.
GOP Senator Ted Cruz Proposes Legislation to Block CBDC
Senator Ted Cruz (R-Texas) on Tuesday evening introduced legislation aimed at blocking the U.S. Federal Reserve from creating a consumer-based central bank digital currency (CBDC).
CBDC Adoption Grows in Nigeria Amidst Cash Crisis
Nigeria is witnessing an increased Central Bank Digital Currency [CBDC] adoption nearly 18 months after launching as national fiat reserves face shortage.
