Digital Dollar Project Warns on U.S.'s Cautious Approach to CBDCs
The United States may have conceded a head start to other nations in "setting global standards for the future of money" regarding central bank digital currencies (CBDCs), but in the future it "should lead the development of an international regulatory framework around digital currencies," the Digital Dollar Project (DDP) said on Wednesday.
Bitkub Capital CEO: Thai Central Bank to Implement CBDC for Thai Baht Wholesale Market in First Quarter
Bitkub Capital CEO Jirayut Srupsrisopa (also known as “Topp”) said that Thai central bank will be implementing a central bank digital currency (CBDC) for the Thai Baht wholesale market in the first quarter of 2023. The government is currently working with the Monetary Authority of Singapore (MAS) to handle remittances between the two countries using the new currency.
Ukraine Deputy Prime Minister: I'll Take Salary in CBDC
Ukraine’s deputy prime minister wants to be the first user of a planned new central bank digital currency (CBDC) and take his salary in e-hryvnia, he told reporters at the World Economic Forum.
Tanzanian Central Bank Adopts 'Phased and Risk-Based Approach to Adoption of CBDC'
After months of research, the Tanzanian central bank announced recently that it had chosen a more cautious and risk-based approach towards the adoption of its central bank digital currency (CBDC). During the research phase, the central bank said it paid particular attention “to risks and controls associated with issuance, distribution, counterfeit and usage of currencies.”
Georgia Prepares to Launch Digital Lari Pilot in First Half of 2023
The central bank of Georgia intends to publish a document detailing the concept of a national digital currency in the coming months. Other participating parties will use it to finalize their proposals for the pilot which the monetary authority plans to initiate in the first half of the year. (Bitcoin.com)
Bank of Tanzania Is Working on Central Bank Digital Currency Adoption
The central bank of Tanzania says it is still debating whether to launch a central bank digital currency (CBDC), but it would proceed with a “phased, cautious, and risk-based approach” after finding several issues that might hinder its adoption.
Tanzania ‘Cautious’ on CBDC Adoption After Initial Research
Tanzania's central bank says it is still considering the introduction of a central bank digital currency (CBDC) but will be a taking "phased, cautious and risk-based approach" after identifying several challenges that could impact its implementation. According to a Jan. 14 public notice from The Bank of Tanzania, since its 2021 announcement about a possible CBDC rollout, the East African country formed a multidisciplinary technical team to explore the risks and benefits of CBDCs. The bank revealed its team has conducted research looking into different types of CBDCs, models for issuance and management and whether it could be token-based or account-based. (Cointelegraph)
Ukraine’s Tascombank Pilots Stellar-Based E-Hryvnia
Tascombank, one of the oldest banking institutions in Ukraine, has completed the pilot testing of a digital currency based on the Stellar network. The bank believes that its electronic money platform represents an economically viable implementation of blockchain technology.
BIS Economists Suggest Improving TradFi With CBDC To Attract Users Away From Crypto
The latest Bank of International Settlements bulletin looks at ways to mitigate the risks of crypto assets and suggests TradFi could get its house in better order too.
China Counts CBDC in Monetary Base Supply for First Time
For the first time ever, the People’s Bank of China (PBOC) has included its central bank digital currency (CBDC) in official cash reports. China’s digital yuan, otherwise known as e-CNY, amounted to 13.61 billion yuan (roughly $2 billion) by the end of December, per official figures reviewed by the South China Morning Post. That reportedly converts to 0.13% of China’s outstanding monetary base supply. (Blockworks)
