Prime Minister Narendra Modi has hinted at the plans of the Indian government to take “progressive and “forward-looking” steps on the future of digital currency in the country.
The "Beijing Municipal Experimental Blockchain Platform" project aims to store information of residents and city facilities and manage government affairs using blockchain technology.
Federal Deputy Luizão Goulart’s proposal seeks a new law that provides workers in Brazil the right to request digital currency as a mode of payment from employers.
The Russian digital currency market is worth 20–40 trillion rubles, based on insights such as local cash flows related to services like block reward mining, according to a local executive.
The Know-Your-Customer proof-of-concept project started in July 2019, while the development and testing of the experimental platform were completed on June 10, 2021.
An e-CNY enterprise zone is to be launched by the Municipal Administrative Center of Beijing to explore the digital renminbi financial system in Beijing.
Plans for the digital currency have been ongoing in the last four years and according to CBN Governor Godwin Emefiele, 500 million eNaira ($1.21 million) have already been minted.
The digital yuan pilot started in Shanghai with 270 McDonald's branches accepting central bank digital currency as payment, although reports indicated that companies including Visa and Nike are also being urged to accept the digital currency.
The Russian government hasn't placed a total ban on digital currency in the country, but they have yet to accept it as a legal tender.
There have been some oppositions surrounding the new income tax law, with investors accusing the government of insufficient protective measures for digital currency investors.
In his recent tweet about the DMCC Crypto Centre in Dubai, Zimbabwe Finance Minister Mthuli Ncube commended the potential of lowering remittance fees via decentralized finance.