Pakistan Launches New Laws To Expedite CBDC Launch by 2025
Regulators worldwide see central bank digital currencies (CBDCs) as a way to enhance fiat capabilities by inheriting the financial prowess of technologies that power cryptocurrencies. Pakistan joined this list by announcing new regulations to ensure the launch of an in-house CBDC by 2025.
US Lawmakers Say Any Digital Dollar Must Be Open, Permissionless, and Private
Nine U.S. lawmakers have raised concerns regarding the U.S. central bank digital currency project led by the Federal Reserve Bank of Boston. The lawmakers stressed: “Any U.S. CBDC must be open, permissionless, and private.”
CBDCs: India’s Digital Rupee Falls Flat As Low Volumes Blight Trial Run
Several Indian news outlets have reported on the lack of interest in the digital rupee.
DTCC Digital Dollar Pilot for Securities Settlement Uses CCP
The Digital Dollar Project is a private initiative founded in January 2020 by Accenture and former Chair of the Commodity Futures Trading Commission (CFTC) J. Christopher Giancarlo’s Digital Dollar Foundation. Last year Accenture agreed to fund five of the DDP’s CBDC pilot programs. Turning to the DTCC, its subsidiaries processed $2.4 quadrillion in securities transactions in 2021. “As a potential digital alternative to cash, a U.S. CBDC should be carefully explored in consultation with key stakeholders across the public and private sectors,” said Jennifer Peve, DTCC Managing Director, Head of Strategy and Business Development. “DTCC’s pilot with DDP assessed the use of a simulated CBDC and DLT for DvP settlement in the U.S. wholesale markets through direct engagement with market participants.” (Ledgerinsights)
RBI Begins First Retail Digital Rupee Pilot in 13 Indian Cities With 8 Banks
The Reserve Bank of India (RBI) announced Tuesday that “the first pilot for retail digital rupee (e₹-R)” will launch on Dec. 1. This announcement followed the RBI’s wholesale central bank digital currency (CBDC) pilot which began on Nov. 1.
India To Start Pilot of Its Retail Digital Rupee in 4 Cities on December 1st
Eight banks will participate, and the pilot will initially be carried out in four cities.
CBDC Primer: Overview, Types, and the Difference Between CBDCs & Cryptocurrencies
Central banks around the globe are racing to speed up the process of developing and launching the digital versions of their official national currencies.
France, Luxembourg Test CBDC for 100M Euro Bond Issue
France and Luxembourg have used an experimental central bank digital currency (CBDC) to settle a bond worth 100 million euros ($104 million), the latest in a series of trials in tokenized financial markets.
RBI Digital Rupee Pilot Launch On December 1: What You Need To Know
The Reserve Bank of India (RBI) is set to launch the first pilot for its retail digital Rupee on December 1, 2022. <a href="https://coingape.com/cbdc-india-rbi-drop-final-date-for-pilot-launch-of-digital-rupee/">India’s digital Rupee (e₹)</a> initiative is aimed at specific use cases. In case of this pilot, the country’s authorities will be testing settlement of secondary market transactions in government securities. While the Indian government faced criticism for imposing high taxes on retail crypto trade, the usage of e-Rupee is seen as a welcome move in the community. The latest initiative is aimed at making inter-bank market more efficient.
India to Start Retail CBDC Pilot in Four Cities With Four Banks
The Reserve Bank of India will start testing its retail central bank digital currency (CBDC), the digital rupee, in Mumbai, New Delhi, Bengaluru and Bhubaneswar with the initial participation of four banks: State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank, it announced Tuesday.
