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Lynette Zang: Hyperinflation Looms as US Dollar’s Purchasing Power Dwindles

Lynette Zang: Hyperinflation Looms as US Dollar’s Purchasing Power DwindlesLynette Zang, CEO of Zang Enterprises, asserts that hyperinflation is already underway, predicting a further decline in the U.S. dollar’s value. According to Zang’s recent interview with Kitco, the current financial trends indicate that the dollar’s purchasing power will reach zero, leading to a significant economic crisis by 2025. Zang Warns of Hyperinflation as U.S. […]

Latam Insights Encore: Brazil’s Stablecoin Remittance Tax Is Doomed From the Start

IMF staff propose REDI framework to catalyze CBDC adoption

IMF staff members have introduced a high-level four-stage framework emphasizing regulation, education, design and incentives to enhance CBDC adoption.

International Monetary Fund (IMF) staff members have issued a guide for policymakers and banking institutions on ways to increase the uptake of central bank digital currencies (CBDCs) globally.

The IMF issued the “Central Bank Digital Currency Adoption Inclusive Strategies for Intermediaries and Users” paper on Sept. 21. The paper recommended implementing inclusive strategies for intermediaries and end-users. It introduced a high-level framework for regulation, education, design and deployment and incentives (REDI) to help spur CBDC adoption. 

According to the IMF staff members, successful CBDC adoption will require proactive strategic policy and design choices that benefit end-users and intermediaries. Therefore, they urged central banks to focus on stakeholder engagement.

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Latam Insights Encore: Brazil’s Stablecoin Remittance Tax Is Doomed From the Start

Australian Reserve Bank Has ‘Strategic Commitment’ To Develop CBDC System, According to Assistant Governor

Australian Reserve Bank Has ‘Strategic Commitment’ To Develop CBDC System, According to Assistant Governor

Australia’s central bank and banknote issuing authority is pursuing initiatives on central bank digital currency (CBDC) and digital money. According to Reserve Bank of Australia (RBA) assistant governor Brad Jones, the central bank’s work agenda on digital money will focus more on wholesale CBDC used by banks and other financial institutions than on retail CBDC […]

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Latam Insights Encore: Brazil’s Stablecoin Remittance Tax Is Doomed From the Start

41 firms join BIS Project Agora to advance unified ledger applications

The large private companies will work with seven central banks on improving structural inefficiencies in international transfers.

The Bank for International Settlements’ (BIS’) Project Agora has progressed to the design stage with the onboarding of 41 private financial firms. The project, launched in April by the BIS and seven central banks, is looking at how tokenized commercial bank deposits can be integrated with tokenized wholesale central bank digital currencies (CBDCs) on a single platform.

The regulated private-sector participants include Visa and Mastercard, SWIFT, the Swiss SIX Digital Exchange, Japan’s Monex Group financial services firm, clearing companies and a host of large banks. The Institute of International Finance, a financial services trade group, was chosen to convene the private participants, which responded to a call for participation issued in May.

Project Agora is now the largest BIS project in terms of participants. The private-sector members join the Bank of France (representing the Eurosystem), Bank of Japan, Bank of Korea, Bank of Mexico, Swiss National Bank, Bank of England and the Federal Reserve Bank of New York.

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Latam Insights Encore: Brazil’s Stablecoin Remittance Tax Is Doomed From the Start

Hong Kong Regulator Launches Sandbox to Test Tokenized Asset Transactions

Hong Kong Regulator Launches Sandbox to Test Tokenized Asset TransactionsThe 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 […]

Latam Insights Encore: Brazil’s Stablecoin Remittance Tax Is Doomed From the Start

Republican National Committee Party Platform Includes Plan To ‘Oppose CBDCs’ and ‘Defend Right To Mine Bitcoin’

Republican National Committee Party Platform Includes Plan To ‘Oppose CBDCs’ and ‘Defend Right To Mine Bitcoin’

The Republican National Committee has released a new party platform that promises to support crypto and oppose the creation of a central bank digital currency (CBDC). The platform, which former president Donald Trump promoted on social media, claims Republicans will “pave the way for future economic greatness by leading the world in emerging industries.” “Republicans […]

The post Republican National Committee Party Platform Includes Plan To ‘Oppose CBDCs’ and ‘Defend Right To Mine Bitcoin’ appeared first on The Daily Hodl.

Latam Insights Encore: Brazil’s Stablecoin Remittance Tax Is Doomed From the Start

IMF: CBDCs Can Boost Financial Inclusion and Payment Efficiency in Middle East

IMF: CBDCs Can Boost Financial Inclusion and Payment Efficiency in Middle EastThe International Monetary Fund (IMF) says 19 countries in the Middle East and Central Asia, including Bahrain, Georgia, Saudi Arabia, and the UAE, are in the advanced “proof-of concept” stage for central bank digital currencies (CBDCs). “We support policymakers evaluating the need to issue a CBDC and help them craft strong policies and regulatory frameworks […]

Latam Insights Encore: Brazil’s Stablecoin Remittance Tax Is Doomed From the Start

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

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

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.

Latam Insights Encore: Brazil’s Stablecoin Remittance Tax Is Doomed From the Start

BIS Survey: 94% of Central Banks Exploring Digital Currency

BIS Survey: 94% of Central Banks Exploring Digital CurrencyThe latest Bank for International Settlements (BIS) survey reveals that 94% of central banks are exploring central bank digital currencies (CBDCs). There has been a notable increase in wholesale CBDC experiments, especially in advanced economies. Central banks are examining various factors for retail CBDCs, including holding limits and offline functionality. 94% of Surveyed Central Banks […]

Latam Insights Encore: Brazil’s Stablecoin Remittance Tax Is Doomed From the Start

US House Passes Bill Banning Federal Reserve From Launching Central Bank Digital Currency

US House Passes Bill Banning Federal Reserve From Launching Central Bank Digital Currency

The US House of Representatives just passed a bill aimed at preventing the Federal Reserve from launching a Central Bank Digital Currency (CBDC) without Congressional authorization. Republican Majority Whip Tom Emmer sponsored H.R. 5403, known as the CBDC Anti-Surveillance State Act, with the stated goal of protecting Americans’ right to privacy. “My legislation ensures that […]

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Latam Insights Encore: Brazil’s Stablecoin Remittance Tax Is Doomed From the Start