China’s Fujian Province Has Processed $22bn Worth of Digital Yuan
Residents and firms based in China’s Fujian Province have reportedly processed almost $22 billion worth of digital yuan transactions to date – as the nation’s central bank digital currency (CBDC) continues to gather pace.
India and UAE To Develop an Interoperable CBDC Between Countries
India and the United Arab Emirates (UAE) have entered into a collaboration on central bank digital currencies (CBDCs), according to the official announcement published on March 15, 2023.
Central Bank Digital Currency Transactions to Reach $213 Billion Annually by 2030, Research Shows
A new study shows that payments via central bank digital currencies (CBDCs) are expected to reach $213 billion annually by 2030. Furthermore, 92% of the total value transacted via CBDCs will be paid domestically, the research found. Research and market intelligence firm Juniper Research published a report on central bank digital currencies (CBDCs) Monday. (Bitcoin.com)
SD Governor Urges 20 States to Block Legislation That Bans Crypto's Use as Money — Says 'Its a Threat to Our Freedom'
South Dakota Governor Kristi Noem has vetoed a bill that bans the use of cryptocurrencies, including bitcoin, as money. The bill, masquerading as a Universal Commercial Code (UCC) guidelines update, also paves the way for central bank digital currencies (CBDCs). Emphasizing that this bill is clearly “a threat to our freedom,” the governor urged 20 other states that are about to consider a similar bill to “block this legislation from passing.” (Bitcoin.com)
CBDCs Should Protect Privacy, not be a Surveillance Tool: Former CFTC Chair
The United States should lead the development of Central Bank Digital Currencies (CBDCs) away from being “surveillance coins” and towards being "freedom coins,” says the former chair of the Commodity Futures Trading Commission (CFTC). In a Mar. 13 op-ed in The Hill, Christopher Giancarlo, nicknamed "Crypto Dad" for his pro-crypto outlook, said the U.S. "must influence" CBDC development towards protecting "democratic values like freedom of speech and the right to privacy, " leveraging current technology used by some cryptocurrency protocols. (Cointelegraph)
US Congressman Warns CBDCs Can Be ‘Easily Weaponized’ To Spy on Americans
US Representative Tom Emmer has expressed concerns over the introduction of programmable Central Bank Digital Currencies (CBDCs) in the United States, stating that it may compromise the financial privacy of American citizens.
Fed Chair Powell Provides Update on US Central Bank Digital Currency
Regarding where the Fed is at on its CBDC work, Powell said:
Australia CBDC Use Cases Published
On March 2 the Reserve Bank of Australia published the list of chosen use cases for its CBDC research project. A list of 14 use cases includes payment, tax automation, corporate bond settlement with ABE, and Web3 commerce with Mastercard.
Fed Chair Ponders Potential for Digital Dollar to Send Bitcoin to Zero
U.S. Congressman Stephen Lynch (D-MA) expressed concern Wednesday over the possible impact of a central bank digital currency (CBDC), asking Federal Reserve Chairman Jerome Powell to ponder the potential for a tokenized version of the U.S. dollar to wipe out other digital assets.
China’s WeChat Social Media Giant Integrates Digital Yuan into Payment Platform
WeChat, China’s leading social networking and payment app, has added the country’s central bank digital currency, or CBDC, to its payment services, according to the CBDC’s payment app and a China media report. The move may help broaden the appeal of the digital yuan that so far has had a slow start. (forkast)
