Former Coinbase CTO Urges ‘Get to Bitcoin’ Before CBDC Digital Lockdown
Former Coinbase CTO Balaji Srinivasan warned people to “GET TO BITCOIN BEFORE DIGITAL LOCKDOWN.”
Nigeria Sees Major Jump In CBDC eNaira Adoption Amid Cash Shortages
The Nigerian economy’s cash shortage has suddenly changed the fortunes of the country’s central bank digital currency (CBDC) eNaira, which was once struggling to see any major adoption and traction. On Tuesday, March 21, Godwin Emefiele, governor of the Central Bank of Nigeria said that eNaira transactions have shot up by 63% to 22 billion nairas ($47.7 million) since its introduction. Also, in comparison to the data from October 2022, the total number of CBDC wallets has also jumped by more than 12 times to 13 million. (coingape)
US Senator Ted Cruz Tries Again with New Bill to Block CBDC
Republican Senator Ted Cruz has introduced a bill to block the United States Federal Reserve from launching a “direct-to-consumer” central bank digital currency (CBDC). In a March 21 statement, Cruz said he introduced the bill to prevent the Fed from developing a retail CBDC “which could be used as a financial surveillance tool by the federal government.” Cruz stated it’s “more important than ever” to ensure U.S. policy on digital currencies protects “financial privacy, maintain’s the dollar’s dominance and cultivates innovation,” and added: “CBDCs that fail to adhere to these three basic principles could enable an entity like the Federal Reserve to mobilize itself into a retail bank, collect personally identifiable information on users, and track their transactions indefinitely.” (Cointelegraph)
Why This U.S. Congressman Is Fighting Against a CBDC?
U.S. Congressman Warren Davidson who represents Ohio’s 8th District is urging his colleagues to fight back against a govt.
FL Gov. DeSantis Proposes Ban on Central Bank Digital Currency Use As Money
Governor Ron DeSantis of the U.S. state of Florida has proposed legislation to prohibit the use of central bank digital currency (CBDC) as money in his state. “The Biden administration’s efforts to inject a centralized bank digital currency is about surveillance and control,” the governor warned.
IMF Examines CBDC Design in Context of Islamic Banking, Finds Some Risks Magnified
A central bank digital currency (CBDC) can impact monetary policy by increasing money velocity, disintermediation, volatility of bank reserves, currency substitution and altered capital flows, even when it is not designed to do so, according to a study published by the International Monetary Fund. The unintended impact of a CBDC may be felt particularly acute in the Islamic banking system.
Crypto Morning Briefing: Coinbase No Longer Supporting Signature Bank’s Signet Network
Immutable and Polygon Labs Team Up to Expand the Web3 Gaming Ecosystem; Florida Gov and US Presidential Hopeful Calls for CBDC Ban
Florida Gov and US Presidential Hopeful Calls for CBDC Ban
Ron DeSantis, the Governor of Florida expected by many to throw his hat into the ring for the 2024 United States presidential race, has called for a ban on a digital dollar.
Russian Lawmakers Approve First Reading of Draft Laws Establishing CBDC Regulation, Issuance
According to local media reports, the Russian State Duma approved draft laws establishing a system to issue and regulate central bank digital currencies (CBDC) in a first reading on March 16.
CBDC Transactions to Surpass $210 Billion in Less Than a Decade
A recent study conducted by the analytics company Juniper Research estimated that payments via central bank digital currencies (CBDCs) could reach $213 billion by 2030.
