While the technology may deliver benefits for policymakers, there were many crises CBDCs could not fix, according to the International Monetary Fund.
While recognizing the rise in prominence of CBDCs, the Financial Stability Board is challenging the effectiveness and comprehensiveness of the existing financial regulations.
Financial regulators in the world’s seven biggest economies will continue to oppose the launch of Facebook’s digital currency Libra until proper regulations are in place.
USDC is the first publicly available token on BSV and Run 0.6, a token protocol that is not yet publicly released.
The Office of the Comptroller of the Currency has permitted national banks to hold reserves of digital currencies and other digital assets.
The new rules will aim to make it both quicker and cheaper to facilitate cross-border payments, with the help of blockchain and digital assets.
USDC is the very first stablecoin to launch on the Bitcoin blockchain (BSV) thanks to a partnership between RelayX and Run.
The Reserve Bank of Australia is reportedly skeptical of the benefits of CBDCs, and is also concerned about private stablecoins.
Finance ministers called on the European Commission to ensure regulations are enforced to protect consumers and preserve state sovereignty in monetary policy.
Bermuda has launched a digital token to stimulate the local economy following the COVID-19 pandemic.
The job posting comes weeks after the bank appointed a new head of Digital Assets team and expressed interest in launching a stablecoin.