BIS and Central Banks of Israel, Norway, Sweden Concluded Retail CBDC Pilot Project Icebreaker
The Project Icebreaker report explains that it aims to investigate a particular approach for linking domestic systems, known as the hub-and-spoke solution.
BIS Successfully Completes Retail CBDC Pilot Called Project Icebreaker
The Bank for International Settlements (BIS) has successfully completed a pilot retail central bank digital currency (CBDC) pilot called Project Icebreaker, according to a March 6 press release.
Bank for International Settlements Concludes CBDC Project ‘Icebreaker’
In partnership with the central banks of Israel, Sweden, and Norway, the Bank for International Settlements (BIS) has finalized a project that explores the potential advantages and challenges of using central bank digital currencies (CBDC) in international payments.
US Treasury-Led CBDC Working Group Looking at Technical Issues, National Interest
The United States Treasury Department is continuing to consider design decisions relating to the introduction of a central bank digital currency. Under Secretary for Domestic Finance Nellie Liang gave an audience at the Atlantic Council a rundown on March 1 of technical and policy issues the Treasury-led CBDC Working Group is looking at.
US Treasury and White House to Hold Regular Meetings on CBDCs and Payment Innovations
On March 1, 2023, Nellie Liang, undersecretary for domestic finance at the U.S. Treasury, delivered a speech to the Atlantic Council in Washington concerning the subject of central bank digital currencies (CBDCs). Liang detailed during her speech that a CBDC is one of several options for “upgrading the legacy capabilities of central bank money,” and members of the Treasury, Biden administration and the Federal Reserve “will begin to meet regularly” to discuss the topic.
Reserve Bank of Australia Releases Research Project Exploring Use Cases for CBDC
Australian central bank announced that it has unveiled a series of initiatives that will explore potential applications for a digital dollar, known as the eAUD.
Australia’s Central Bank Taps Mastercard and Others to Test CBDC Use Cases
The Reserve Bank of Australia has revealed a set of projects that will develop use cases for a digital dollar, the eAUD, during its testing phase, currently underway.
U.S. Treasury Convening Regular Biden Administration Discussions on CBDC
The U.S. Treasury, Federal Reserve and White House officials “will begin to meet regularly” to talk about a possible central bank digital currency, said Nellie Liang, undersecretary for domestic finance at Treasury, in a speech delivered to the Atlantic Council in Washington.
Former Biden Adviser Urges Development of Digital Dollar to ‘Crowd Out’ Private Crypto
Former Joe Biden administration adviser Daleep Singh told the senate banking committee on Feb. 28 that developing a central bank digital currency — i.e., a digital dollar — would help safeguard national interest and supersede private cryptocurrencies.
United States CBDC Would ‘Crowd Out’ Crypto Ecosystem: Ex-Biden Advisor
The creation of a United States digital dollar would “crowd out” the cryptocurrency ecosystem and protect the national security of the U.S. according to a former top advisor in president Joe Biden’s administration. Daleep Singh — a former Deputy National Security Advisor for International Economics in the Biden administration — made the comments at a Feb. 28 Senate Banking Committee hearing, suggesting that cryptocurrencies facilitate ransomware attacks and contribute to the evasion of U.S. sanctions. Singh believes the U.S. government embracing a Central Bank Digital Currency (CBDC) “is the single best step that we could take [to protect national interests] because it would crowd out the ecosystem of crypto.” (Cointelegraph)
