Stablecoins and digital assets unlikely to replace central bank money: Moody’s
The author of Moody’s report tells CoinGeek that while stablecoins and Bitcoin are seeing rising adoption, the role of commercial banks will remain intact.
Latest Central Bank Digital Currency News
North Carolina bans CBDCs with passage of new bill
The new bill by Republican lawmakers argues that an attempt to introduce CBDCs aims at “surveilling Americans and controlling behavior of Americans.”
Reserve Bank of India, BIS unveil G20 TechSprint 2023 to improve state of cross-border CBDC
The primary focus of the G20 TechSprint 2023 is foreign exchange liquidity, anti-money laundering (AML), and central bank digital currencies with cross-border functionalities.
Retail CBDCs could open a can of worms for central banks: IMF director
Unlike wholesale CBDCs, which can be put in place without significant disruptions, retail CBDCs are more risky and could threaten the world's financial stability, according to IMF's Kristalina Georgieva.
Visa unveils blockchain-backed CBDC project for Brazilian farmers
Farmers appear to be the target market of Visa’s new CBDC project, noting that they contribute a large chunk of Brazil’s GDP and are in dire need of new financing options.
Mauritius to launch CBDC pilot after 3 years’ exploration
The CBDC pilot initiative, set in November, will use a two-tier distribution model to avoid a disruption in the financial ecosystem, with Mauritius eyeing a cross-border payment functionality.
European regulators mull digital euro, MiCA and stablecoins in new report
While the digital euro will boost financial inclusion, it has the risk of bank disintermediation; regulators say as they called for friendly Bitcoin policies.
Digital euro users want P2P payments, budget management, and QR codes: study
Commissioned by the ECB, the study also found that users want offline payments and programmability, with the underbanked most needing P2P payments.
China moves forward with CBDC cross-border payment experiments
As downloads and usage of digital yuan wane, China bares new plans to promote its CBDC by using it in cross-border transactions, a feat that ally Russia is also looking to roll out.
Digital euro access, onboarding and distribution outlined in latest ECB report
The digital euro will be distributed to residents and merchants in the Euro Area first, but European Central Bank admits that all the authority lies with the European Parliament.
Research, but don’t launch a digital euro: European Parliament report
The digital euro is a solution in search of a problem, according to the report, noting that the central bank digital currency would have disruptive effects the European Central Bank isn’t ready for.
China doubles down on digital yuan adoption with new payment scheme
The Chinese city of Changshu is shaping itself as a model for CBDC adoption as it introduces a new payment scheme that would see the salaries of civil servants paid in digital yuan.