India’s Digital Rupee Usage Drops Drastically After Initial Surge

June 26, 2024 Bitcoin.com

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India’s central bank digital currency (CBDC), the digital rupee, has experienced a significant decline in usage, decreasing to a tenth of its peak in December 2023, according to sources involved in the pilot project. The Reserve Bank of India (RBI) initially reached 1 million daily retail transactions with the digital rupee by incentivizing banks and […]

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Digital Euro Holding Limit: Debate Continues

June 25, 2024 Bitcoin.com

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The president of Germany’s central bank has highlighted the ongoing debate about the holding limit for the digital euro, Europe’s central bank digital currency (CBDC). He noted that recent Bundesbank research indicates that the optimal amount could be in the range of 1,500 to 2,500 digital euros per person. ‘The Jury Is Still Out Here’ […]

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Iran Officially Unveils Central Bank Digital Currency Project

June 25, 2024 Bitcoin.com

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Iran officially unveiled its central bank digital currency (CBDC) on Sunday during a ceremony attended by Central Bank of Iran (CBI) Governor Mohammad Reza Farzin and chief executives of several major banks. This digital currency, issued electronically by the central bank, aims to streamline transactions within the country’s banking system. A pilot project will commence […]

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Parfin Creates New Blockchain to Be Used as Privacy Solution for Brazilian CBDC

June 23, 2024 Bitcoin.com

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Parfin, a financial technology company, has created a new blockchain system to be used as a privacy solution for the Brazilian CBDC, drex. Rayls, the new blockchain, will offer the possibility of operating in a permissioned way and also linking itself to other public blockchains using Rayls Public Chain, a native Ethereum layer two (L2). […]

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Iran Launches Digital Rial Pilot on Kish Island

June 21, 2024 Bitcoin.com

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The Central Bank of Iran (CBI) has announced the initiation of a pilot scheme to introduce the country’s central bank digital currency (CBDC) on the southern island of Kish. The CBI stated on Tuesday that the digital rial will be available to banking customers and tourists in Kish starting on the first day of the […]

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Ripple Working With 10 Governments Globally, CEO Reveals in Rediscovered Interview

June 19, 2024 Bitcoin.com

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In a resurfaced video clip, Ripple CEO Brad Garlinghouse stated that his crypto firm is collaborating with around 10 governments globally on central bank digital currencies (CBDCs). “A central bank digital currency is a stablecoin. It’s just issued by the government,” the executive described. Ripple CEO on Working With Governments Worldwide A video clip surfaced […]

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Ethiopia takes first step toward CBDC in economic reform

June 17, 2024 Coin Telegraph

CBDC

The country plans to have a legal framework and regulatory sandbox in place for CBDC introduction “as necessary.”

The National Bank of Ethiopia (NBE) has prepared two proclamations as part of an economic reform plan. One of them includes the establishment of a legal framework for introducing a central bank digital currency (CBDC).

The policy changes foreseen by the NBE Proclamation include creating a legal framework for a CBDC “as necessary,” as well as increasing the NBE’s capital and creating a legal basis for consumer protection. The accompanying Banking Business Proclamation addresses liberalization of foreign investment in banking, corrective measures regarding “problem” banks and the creation of a regulatory sandbox for innovative financial solutions.

The Council of Ministers has approved the proclamations and will soon be introduced into the House of Representatives.

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94% of Central Banks Are Exploring CBDCs, According to New Bank for International Settlements Survey

June 15, 2024 The Daily Hodl

CBDC

A new survey from the Bank for International Settlements (BIS) suggests that most central banks are now exploring the possibility of issuing their own digital currencies (CBDCs). The BIS surveyed 86 different central banks, with 94% of the respondents noting that they were involved in some form of CBDC work last year. The central bank […]

The post 94% of Central Banks Are Exploring CBDCs, According to New Bank for International Settlements Survey appeared first on The Daily Hodl.

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CBDC Interest Climbs Steadily Over Five Years, Google Trends Data Shows

June 15, 2024 Bitcoin.com

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Google Trends data reveals a consistent increase in search interest for “CBDC,” which stands for central bank digital currency, over the past five years. The term has maintained a score above 20 since August 2022, on a scale of 1 to 100, where 100 signifies peak interest. CBDCs See Consistent Search Growth, Top Regions Include […]

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Chinese Gang Arrested for Exploiting Digital Yuan

June 15, 2024 Bitcoin.com

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In Zhejiang province, China, a criminal gang exploited digital yuan accounts to illegally cash out over 200,000 yuan ($27,566) within four days. The digital yuan, or e-CNY, is the People’s Bank of China’s (PBOC) central bank digital currency (CBDC), which has experienced substantial growth in usage. Adoption has reached 260 million wallets across 25 cities, […]

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