The Bank of Russia is formally exploring options for a central bank digital currency, which would create a “digital ruble” as a supplement to cash.
Australia’s digital payments systems are adequate for the citizens’ needs, according to Tory Richards, head of payments policy at the Reserve Bank of Australia.
While recognizing the rise in prominence of CBDCs, the Financial Stability Board is challenging the effectiveness and comprehensiveness of the existing financial regulations.
The Bank of Japan believes that there’s a possibility of a surge in public demand for a CBDC, considering the rapid development of technological innovation.
They are seeking to identify the principles necessary for any CBDC, to help other central banks around the world to meet their public policy objectives.
The U.S. Treasury Department is actively considering the benefits of a central bank digital currency, according to a ranking department official.
The National Assembly Seminar for the Virtual Asset Business Law argued the laws were needed to protect revenues and help develop the fledgling digital currency sector in Korea.
The Bank of Korea will begin pilot transactions in 2021 to determine the feasibility of rolling out a digital currency system across Korea.
The Estonian central bank has launched a multi-year research project into the viability of a central bank digital currency.
According to PBOC’s deputy governor, China’s CBDC, the DC/EP, has been used in over 3.13 million transactions with a valuation of roughly $162 million.
The report suggests that the bank would be open to considering both centralized and decentralized models for the digital currency.