Russia’s central bank says that there is growing interest in smart contracts from the country’s banks, businesses and government. In a new speech to the Association of Russian Bank, Elvira Nabiullina, the governor of the Central Bank of Russia, says that a pilot for the digital ruble is “going well.” She says that a group […]
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The president of Germany’s monetary authority is advocating for a central bank digital currency (CBDC). In a question-and-answer session with economists at the Official Monetary and Financial Institutions Forum (OMFIF) think tank, the president of the Deutsche Bundesbank, Joachim Nagel, says he supports a CBDC. The OMFIF cites Nagel saying that “CBDCs will play a […]
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Payments giant MasterCard is forecasting that central banks will shift away from retail CBDCs (central bank digital currencies) and focus more on offering digital assets to banks and financial institutions. In a new blog post from Raj Dhamodharan, MasterCard’s head of crypto and blockchain, the analyst says that he’s expecting central banks will lean away […]
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President Javier Milei advocated for maintaining a separation of crypto and state. The Argentine leader stated that private cryptocurrencies might collaborate to end the state monopoly on currency, and rejected CBDCs. Milei Supports Maintaining Crypto Outside the State’s Reach While some leaders envision the inclusion of bitcoin and central bank digital currencies as part of […]
Sumit Gupta shares insights on India’s approach to CBDCs and private cryptocurrencies, emphasizing the need for balanced regulation.
India’s regulatory position on cryptocurrencies and central bank digital currencies continues to fuel debate, with recent discussions suggesting CBDCs could have an edge over “private cryptocurrencies.”
In an Oct. 23 X post, Sumit Gupta, the co-founder and CEO of CoinDCX, argued that CBDCs and cryptocurrencies like Bitcoin (BTC) serve different purposes and “shouldn’t be viewed as competitors.”
His post prompted responses from the crypto community, with some warning that CBDCs could resemble “digital fiat,” potentially carrying the same inflationary risks as traditional currencies.
Swift will begin live trials for digital asset and currency transactions in 2025, engaging banks across North America, Europe, and Asia in a major step toward real-world applications. By leveraging its existing network, Swift aims to merge digital and traditional assets, addressing the challenges of disconnected platforms. The trials build on successful blockchain experiments, seeking […]
The Hong Kong Monetary Authority has launched a sandbox to test the use of tokenized assets in real-world scenarios. The sandbox aims to promote interbank settlement using tokenized currency and central bank digital currencies. The HKMA will collaborate with other regulators and industry players to support the development of Hong Kong’s tokenization market. Testing Tokenized […]
The Institute of Chartered Accountants in England and Wales (ICAEW) has partnered with the United Arab Emirates (UAE) Banks Federation to help businesses understand and adapt to the digital asset landscape. The partnership aims to support the UAE’s position as a global leader in digital finance. However, challenges such as the lack of standardized accounting […]
Gold advocate Peter Schiff has conducted two polls regarding bitcoin’s value and investors’ actions if the crypto’s price falls significantly. Despite his consistent criticism of bitcoin, the majority of respondents expressed strong commitment to holding their BTC even if the price drops drastically. Schiff maintains that bitcoin’s value proposition is flawed and anticipates a significant […]
The People’s Bank of China and the National Bank of Kazakhstan have signed an agreement to collaborate on central bank digital currencies (CBDCs). This collaboration agreement, formalized during President Xi Jinping’s visit to Kazakhstan, aims to enhance CBDC research through joint initiatives and professional development. China and Kazakhstan to Collaborate on Central Bank Digital Currencies […]