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CBDC

 
What is a CBDC?
A central bank digital currency (CBDC) is a new digital form of sovereign money. CBDCs are issued by the government, where monetary policies are still formed by the central bank.

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IMF to Play a Crucial Role in Monitoring Digital Money Evolution
The IMF is set to play a crucial role in monitoring the advancement of digital currencies.

About 90 Percent of Countries Representing the Global Economy Exploring CBDCs, Report says
A recent testimony by Julia Friedlander to Congress has revealed that more countries are exploring CBDCs, however, the US is lagging behind.

The Central Bank of Nigeria to Conduct its Central Bank Digital Currency Pilot on October 1
The Central Bank of Nigeria (CBN) officially announced to pilot its central bank digital currency programme on the Hyperledger Fabric blockchain on October 1.

GOP Senators Urge US Olympic Committee to Bar Athletes from Using Digital Yuan, China Rebukes Criticism
Three U.S. Republican senators urged United States Olympic & Paralympic Committee (USOPC) to ban American athletes from acquiring or using digital yuan (e-CNY) in the Beijing Winter Olympics in 2022. China rebukes their criticism.

UAE to Launch and Test in-house Digital Currency
The Central Bank of the United Arab Emirates has plans to develop an in-house digital currency by 2026.

Central Banks Doubt Cryptocurrency Limited Role in Reserve Operations
A survey conducted by UBS investment bank shows that central banks do not expect a cryptocurrency to replace gold as a digital reserve asset.

French Central Bank Succeeds in CBDC Experiment in the Issuance of a Government Bond
The Banque de France or Bank of France, the central bank of France, has prospered in undertaking an experiment on using a central bank digital currency (CBDC) to issue a French government bond.

The Bank for International Settlements Gives CBDCs Full Backing
The Bank for International Settlements (BIS) announced its full support for developing central bank digital currencies (CBDCs) in pursuing financial and monetary stability through international cooperation with the mandate and support by central banks.

Bitcoin Transaction Fees as a Percentage of Total Miner Revenues Hit Lowest Point Since June 2020
BTC transaction fees have plunged based on the ongoing Chinese crackdown on Bitcoin mining facilities.

Bank of France Conducts CBDC Test to Settle Listed Securities
The French central bank has conducted an experiment involving digital MNBC and the settlement of securities.

Bank of Israel Has Conducted Digital Currency Shekel Crypto Testing
Israel announced that the country has already conducted a pilot test on its digital shekel as part of its efforts to issue the Central Bank Digital Currency for public use.

Digital Euro is Designed to "Protect Consumer Privacy"- says ECB Board Member
ECB Board Member Fabio Panetta said Digital Euro will offer a good level of privacy to consumers.

Digital Euro Will Pull Out Traditional Bank Deposits by 8%, Says Morgan Stanley
The advent of the Digital Euro may spark a reduction in cash deposits by 8%, estimated by Morgan Stanley.

France and Switzerland Launches Cross-Border Central Bank Digital Currency Trials
The Central Bank of France and Switzerland have launched a joint cross-border CBDC trial.

Hong Kong Lists CBDC Development as Strategy Fintech 2025 Roadmap
The Hong Kong Monetary Authority has enlisted its e-HKD development as part of its Fintech 2025 strategy.

China's CBDC Testing Advances along 19.25M Yuan Distribute to Residents
The Digital Yuan testing is extending to Shanghai as residents will be given free money worth 19.25 million yuan.

Ghana Apex Bank Says To Launch Central Bank Digital Currency
The Bank of Ghana Governor, Ernest Addison said the agency is now “in the advanced stages” of introducing its CBDC.

Russia’s Tinkoff Faces Regulatory Challenges to Offer Crypto Investments
Tinkoff's CEO complained that Russia's biggest online bank is unable to offer cryptocurrencies for clients due to the tough stance from Russia's central bank.

$6.2 Million Worth of Digital Yuan is Officially Piloted in Beijing
The Chinese digital renminbi is officially piloted in the capital of China-Beijing. The authority plans to issue a total of $6.2 million worth of digital currency to Beijing residents through a lottery, totaling 40 million RMB.

Bridgewater Associates’ Ray Dalio: China’s Yuan Will Become the Next World’s Reserve Currency
Ray Dalio disclosed that China’s yuan will become the global reserve currency sooner than expected and the digital yuan would be more competitive than the US digital dollar.

CSRC Director Yao Qian: CBDCs Can Run on Ethereum and Diem
China Securities Regulatory Commission Director suggests that China can utilize the BaaS infrastructure of public blockchain networks for CBDCs establishment.

OKEx Allows Traders to Purchase Tether through Brazilian Reals via PIX
OKEx exchange officially announced establishing a strategic partnership with CuboPay, a local payment processor in Brazil. Exchange users are now allowed to use Brazilian real through PIX in exchange for Tether purchases.

Bank Indonesia Plans to Launch its Central Bank Digital Currency
Bank Indonesia is planning to launch its central state digital currency in response to the increasingly prosperous cryptocurrency market.

South Korea Seeks Tech Partner to Build the Pilot Program for CBDC
South Korea's central bank on Monday said it would choose a technology supplier to build a pilot platform for a digital currency, moving a step closer to creating a central bank-backed digital currency.

HSBC CEO: No Plans for Launching Crypto Trading
HSBC revealed that the bank has no plan to offer virtual currency as investments to their clients by starting cryptocurrency trading.

US Fed Aims To Publish Discussion Paper on CBDC This Summer
The US Federal Reserve will issue a discussion paper about CBDC this summer.

The Bank of Israel to Accelerate Its CBDC Research for a Digital Shekel
The Bank of Israel is accelerating its CBDC research.

Kazakhstan Launches Public Consultation for Its Proposed CBDC
Kazakhstan is advancing its digital tenge project with a use case design and stakeholder consultation.

National Bank of Georgia Considers Launching Its Own Central Bank Digital Currency
The National Bank of Georgia believes that the CBDCs have become essential for the financial ecosystem to improve financial inclusion and enhance domestic payment systems.

Bahamas Ranks First as The Country with Most Advanced Retail CBDC Development
The Bahamas narrowly beats Cambodia because its CBDC is available to all citizens.

UK Announces the Launch of its CBDC Task Force
The UK has launched a CBDC task force where the Bank of England and the HM Treasury will collaborate to study CBDC.

ECB Publishes Results of Its Digital Euro Public Consultation
The ECB has released the result of its Digital Euro public consultation. Among many things, respondents demand for privacy and offline usability.

Swedish Central Bank Delays CBDC Plans Again
The world’s oldest Central Bank, Sweden’s Riksbank, published results of its pilot project for its proposed central bank digital currency, the e-krona.

ECB to Announce by Mid-2021 Whether It Will Move Forward with CBDC Issuance
European Central Bank (ECB) President Christine Lagarde said that a decision on whether or not to launch a CBDC will be made by the middle of this year.

Ripple to Acquire 40% Stake in Asia Cross-Border Payments Firm Tranglo
Ripple announced its plans to take a 40% stake in Asian cross-border payments company Tranglo.

Coinbase Crypto Exchange to Support CBDCs in the Future as Long as They Meet Listing Standards
Brian Armstrong, Coinbase's CEO, has stated that the crypto exchange was open to the idea of supporting central bank digital currencies (CBDCs) on its network in the future.

Fed Chair Powell: Cryptocurrencies not Useful Stores of Value and CBDC Issuance Will not be Immediate
Federal Reserve Chairman Jerome Powell’s stance on Bitcoin and cryptocurrencies remains unchanged – he views them primarily as “a speculative asset.”

Ripple says XRP Can Be Used as a Bridge Currency for CBDCs, Will This Push XRP Higher?
Ripple released a new whitepaper that depicted XRP's utility as a bridge currency for CBDCs. XRP has broken through the key level of $0.50. What should be expected of the cryptocurrency in the short term?

Next 2-3 Years to be a Turning Point for Bitcoin, BTC to follow Tesla's Footsteps - Deutsche Bank Analyst
According to Deutsche Bank analyst and Harvard economist Marion Laboure, the next two to three years should be a turning point for Bitcoin.

Thai Central Bank Issues Stern Warning about Thai Baht Digital (THT) Stablecoin
The Bank of Thailand is warning citizens against using the illegal THT stablecoin.

BOJ Governor: Japan Should Prepare "Thoroughly" for the Issuance of its Digital Currency
Haruhiko Kuroda, the Bank of Japan (BOJ) governor, has highlighted the need for the nation’s central bank to prepare thoroughly for the rollout of its digital currency with initial experiments expected for this spring.

Jamaica to Launch Central Bank Digital Currency in 2022
Jamaica’s Minister of Finance Nigel Clarke has announced that the country intends to launch its central bank digital currency (CBDC) in 2022.

The Reserve Bank of India Has its Eyes on CBDC
The Governor of the Reserve Bank of India says the monetary authority is “very much in the game” to launch a CBDC.

Ripple to Build The Core Ledger that Will Power Central Bank Digital Currencies
Ripple has been making headway in pursuing projects involving central bank digital currency issuances.

Bitcoin Will Not Likely Be Held by Central Banks in the Future, Says ECB President Christine Lagarde
Christine Lagarde, the President of the European Central Bank, has once again made her stance on Bitcoin clear.

G7 Will Meet to Discuss CBDC and Digital Tax this Week Says Japan’s Finance Minister
The Group of Seven (G7) will meet on Feb.12 to discuss central bank digital currencies (CBDC), digital taxation and global debt according to Japan’s Finance Minister Taro Aso.

Ripple GM Reveals that the Blockchain Firm Is Actively Seeking to Partner with Banks for CBDC
Amid the COVID-19 pandemic and the SEC lawsuit, Ripple continues to thrive through partnerships with financial institutions leveraging their payment services.

Ripple Operations Expand in Asia as it Looks to Explore CBDCs with Central Banks despite SEC Legal Pressure
Despite the Securities and Exchange Commission’s lawsuit against its firm, Ripple has continued to expand its services as a fintech firm.

BOE Governor: Bitcoin and Trending Cryptocurrencies May not be Viable in the Future but Stablecoins Are the Exception
Speaking at the World Economic Forum, the Bank of England governor Andrew Bailey discussed how cryptocurrencies would fit in the current governance system.

Former Canadian Prime Minister Sees Bitcoin As A Potential Future Reserve Currency
Stephen Harper, the former prime minister of Canada, has named Bitcoin as a possible reserve currency in the future.

Central Bank Digital Currency (CBDC) Race: 2020 Year in Review
As 2020 comes to a close, we take a look back at the most important developments regarding the pursuit of Central Bank Digital Currencies (CBDC).

CBDCs Are Bad News to European Banks, says Bank of America Analysts
Bank of America analysts have made important revelations concerning the launch of CBDCs. They recently disclosed that CBDCs are bad news to European Banks.

StanChart CEO Bill Winters: Mass Adoption of Digital Currencies is "Absolutely Inevitable"
Standard Chartered CEO Bill Winters delved into the issue of digital currencies and said that he believes their widespread creation and rollout was absolutely inevitable.

Swiss Central Bank Announces its Central Bank Digital Currency Trial a Success
The digital franc trial entailed settling large scale transactions between financial institutions through an experiment dubbed Project Helvetia.

German Finance Minister Calls for Speedy Interventions in the Rollout of a Digital Euro
German Finance Minister, Olaf Scholz, sees the digital euro as an ideal innovation to meet the high demand for digital money from businesses and consumers in Europe.

Suzhou Next City in China to Test Digital Yuan DCEP in Red Envelope Event
China’s central bank is scheduled to test its digital yuan dubbed the Digital Currency Electronic Payment (DCEP) in a second red packet lottery event in Suzhou on December 12.

PayPal CEO Dan Schulman Says He is Bullish on Bitcoin As a Currency
PayPal CEO Daniel Schulman noted in an interview with CNBC that he is bullish on the future of Bitcoin, cryptocurrencies, and Central Bank Digital Currencies

IMF Believes Central Banks Need Strong Legal Frameworks for CBDCs to Work
The issuance of CBDCs by apex global banks has become a hot topic in the crypto space, and the IMF has delved into it with some precautionary measures.

Over 30 Japanese Firms to Conduct Digital Yen Pilot Test
Major Japanese companies from various sectors will collaborate to engage in a pilot test to issue a private digital currency or Digital Yen.

Japan May Take Several Years To Issue a CBDC says Former BoJ Executive
Hiromi Yamaoka, a former executive of the Bank of Japan believes the central bank will need several more years before it can issue its proposed CBDC.

Bank of England Reveals How Banks Can Adjust to Cryptocurrency Growth
The Deputy Governor of the Bank of England Jon Cunliffe has said that it is not the bank's job to protect commercial banks from the impact of cryptocurrencies.

US Federal Reserve Weighs the Pros and Cons of a Digital Dollar CBDC
The US Federal Reserve has continued to research the benefits and impact of implementing a central bank digital currency (CBDC).

UK Treasury Drafting Private Stablecoin Regulations and Researching CBDC with BoE
The United Kingdom’s Treasury Department has announced it is drafting private stablecoin regulation while it continues central bank digital currency (CBDC) research.

COVID-19 Pandemic-Induced Crisis is Pushing CBDC Adoption, says Bank of Russia
Financial regulators are keeping a keen eye on central bank digital currencies (CBDCs) because they see them as silver linings.

Slow and Steady Wins the CBDC Race: Why the US is not Concerned with China's Speed
Slow and steady wins the CBDC Race: there are several reasons why the United States' digital dollar development has an edge over China’s speedy approach to its digital yuan.

PayPal CEO Announces Plans for Cryptocurrency Business Expansion to Reach More Users
PayPal CEO discussed the integration of cryptocurrency into its business and potential business partnerships with central banks.

Stablecoins Will See Bigger Adoption than CBDCs, says Circle Founder
Central bank digital currency (CBDC) across global economies appear to be inevitable, as central banks have been issuing their own pilot tests of CBDC.

Hong Kong Securities Regulator Aims to Tighten Digital Asset Regulations Later This Year
The CEO of the Hong Kong Securities and Futures Commission (SFC) recently stated that security tokens must be regulated by the regulatory authority.

Do Europeans Want a Decentralized Digital Euro? Asks ECB Survey
Do Europeans want a decentralized digital euro that does not rely on a central intermediary? The European Central Bank is asking for public opinion on CBDC with a new survey.

Facebook's Libra Sparked CBDC Race, COVID-19 Made Central Banks Realize Its Necessity
Digital innovation and central bank digital currency adoption (CBDC) have been on the rise despite the ongoing COVID-19 pandemic. What has driven CBDC forward?

Reserve Bank of Australia Will Explore Wholesale CBDC with ConsenSys Ethereum POC
The Reserve Bank of Australia has partnered with leading Australian banks and ConsenSys Software to explore wholesale CBDCs and distributed ledger technology (DLT).

The Bank of Russia Says CBDC Will Eliminate Challenges Caused by Cryptocurrencies
An executive working at Russia’s Central Bank has stated that a Central Bank Digital Currency could serve as a response to problems being created by cryptocurrencies.

Cambodia Officially Launches Its State-Backed Digital Currency “Bakong”
The National Bank of Cambodia has announced an official launch of a national digital currency that would operate via smartphone apps.

Bank of Canada Governor Advocates Globally Coordinated Approach to CBDC
The governor of the Bank of Canada Tiff Macklem has advocated for a “globally coordinated” approach with respect to CBDC development.

Bitcoin Can’t Drive Financial Inclusion for Unbanked But CBDC Can says Mastercard CEO
Ajay Banga, the CEO of Mastercard believes Bitcoin is unable to function as an inclusive currency for the world’s unbanked due to volatility, CBDCs are a different story.

China to be First Cashless Society with Digital Yuan Launch in 2022, SCMP Report
China is poised to become the world’s first cashless society should roll out its Digital Yuan DCEP before it hosts the 2022 Winter Olympics according to the SCMP

Bank for International Settlements to Issue a PoC CBDC With the Swiss Central Bank Before the End of 2020
The Bank for International Settlements is set to issue a CBDC at the Proof of Concept stage in conjunction with the Swiss National Bank before year-end.

China's DCEP Will Not Compete With WeChat and AliPay
China’s digital currency also known as the Digital Currency Electronic Payment (DCEP) will not be competing with WeChat and AliPay says Research head.

Bank of Japan Wants to Hear From Public About Digital Yen Development
The head of Bank of Japan (BOJ)’s payments and settlement systems department, recently said that the Central Bank was seeking public opinion on the digital yen.

People's Bank of China Seeks to Prohibit the Creation of Digital Tokens
The People’s Bank of China (PBOC) is calling for public opinion or feedback in line with its plans to revise its extant banking laws

EY-Led Consortium Submits Bid To Help Develop South Korea's CBDC
A consortium led by Ernst & Young has made the first and only bid to construct the business model for the Bank of Korea’s Central Bank Digital Currency project.

Philippines Central Bank To Research Further Before Launching its CBDC
Philippines Central Bank governor Benjamin Diokno has recommended further research with respect to the proposed Digital Peso, central bank digital currency.

Hong Kong to “Seize the Opportunities” of China’s Digital Yuan CBDC Development
The Hong Kong government is considering collaborating with the mainland Chinese authorities on the country’s central bank digital currency (CBDC) project.

Mainstream Adoption of DeFi and DLT Is Coming, It Will Replace Banks, Says US Currency Comptroller
The US acting Comptroller of the Currency disclosed that roles played by banks will soon change due to cryptocurrencies and decentralized finance (DeFi).

The Bahamas Becomes First Country to Launch its CBDC, the ‘Sand Dollar’
The Bahamas has launched the Sand Dollar, making it the first country in the world to officially release a central bank digital currency (CBDC) beyond the testing phase.

Deutsche Bank Executive Says CBDC is More of a Political Decision
Deutsche Bank Executive Burkhard Balz has noted that the decision to launch a CBDC by any country may be more of a political decision than a technical one.

Messaging Giant LINE is Developing a Platform for CBDC
Japanese messaging giant Line is developing a platform to aid Asian central banks in their pursuit of central bank digital currencies (CBDC).

China’s $1.5 Million Digital Yuan Giveaway in Shenzhen Left Analysts Excited, Citizens Unimpressed
As part of China’s rollout of its central bank digital currency (CBDC), the government had a $1.5 million giveaway of digital yuan to its citizens in Shenzhen.

Fed Reserve Chair Says Central Bank Needs to Issue Digital Currency Right not First
Jerome Powell, the Federal Reserve chairman, discussed digital currencies and cross-border payments on an IMF panel, revealing the United States' approach to CBDC.

Advancing CBDC: Bank of Canada In Search of Digital Currency Economist
The Bank of Canada is in search of an economist with expertise in digital currencies and financial technologies to help advance its CBDC drive.

ECB to Meet the Growing Demand for Digital Payments with a CBDC Digital Euro
President of the ECB Christine Lagarde broached the topic of CBDC issuance and why the bank was seriously considering the creation of a digital euro.

Reserve Bank Of New Zealand Wants to Preserve Cash, Monitors CBDC Developments
The Reserve Bank of New Zealand—Te Pūtea Matua—is seeking to preserve the benefits of cash but is paying close attention to the future of money and CBDC development.

Bank of Spain Plans to Look at Design Proposals and Economic Implications of a CBDC
Spain’s Central Bank mentioned that it would study the design proposals and economic implications of a CBDC in the country.

Five Russian Banks Ready to Lead Russia's CBDC Pilot Test
Five Russian Banks will participate in the pilot test for the Bank of Russia’s proposed Digital Rubble following the release of its public consultation report.

Bahamas Looks to Deploy its CBDC The Sand Dollar Across Borders
The Central Bank of the Bahamas (CBOB) has says it wants its digital currency dubbed the Sand Dollars integrated with other countries' currency.

CBDC Project will Help Enhance Japan's "Settlement System," Says Bank of Japan Executive
Bank of Japan's Kazushige Kamiyama has revealed that the country’s proposed central bank digital currency will enhance the country’s settlement system.

The Bank of Russia Wants Strict Limits for Non-Professional Russian Crypto Investors
Russia has published a proposal that sets strict limits on the amounts of digital assets acquired by non-professionals investors in a year.

Reserve Bank of Australia May Still Have Its Eye on CBDC After All
Reserve Bank of Australia's Tony Richards has said that the RBA will continue to consider the potentials of issuing a CBDC.

Central Bank Digital Currencies Are Not Like Bitcoin or Cryptocurrency
CBDC are digital assets, but they are not cryptocurrencies and in fact strike at the heart of the very philosophy that brought Bitcoin into existence.

Bank of Russia Reveals the Possibility of Developing a CBDC in Public Consultation Report
In the recently published public consultation on the digital rubble, the Bank of Russia acknowledged it is considering the potentials of issuing a CBDC.

European Central Bank is Consulting the Public on CBDC
The European Central Bank has launched a public consultation to seek public opinion on its proposed digital Euro or central bank digital currency (CBDC).

China to Award DCEP Worth $1.5 Million to Shenzhen Residents to Test Digital Yuan
China’s central bank, the People's Bank of China (PBOC), has teamed up with Shenzhen city to distribute DCEP worth 10 million yuan, approximately $1.5 million to residents.

Spanish Lawmakers Receive Bitcoin in Cryptocurrency Education Campaign
All 350 Deputies of the Spanish Congress have received Bitcoin as part of an educational campaign aiming to teach legislators about the uses and functions of crypto.

Bank of Japan to Launch CBDC Proof-of-Concept in 2021
The Bank of Japan (BOJ) has revealed its plan to kick start an early proof-of-concept on the issuance of its central bank digital currency (CBDC) next year.

Dutch Central Bank Grants First-Ever Crypto Service Registration
The Amsterdam Digital Asset Exchange (AMDAX) has secured the De Nederlandsche Bank (DNB) in line with EU Anti Money Laundering guidelines.

BIS and Central Bank Research Identifies Principles and Core Features For CBDC Issuance
The BIS along with seven central banks has released a report identifying the principles necessary for CBDCs to help central banks meet their public policy objectives.

South Korea’s CBDC Pilot to Enter into Distribution Phase Next Year
South Korea’s central bank is looking to start the testing of the distribution of its central bank digital currency (CBDC) next year.

Estonia's Central Bank Launches Research Project into CBDC
Estonia’s Central Bank also known as Eesti Pank has launched a multi-year research project into central bank digital currencies.

China’s Central Bank Digital Currency DCEP Has Been Processed in Pilot Transactions Worth 1.1 Billion Yuan
In the race to be the first country to launch a functional CBDC, China appears to be in the lead, as it has begun experimenting with its digital currency.

Bank of Canada Says CBDCs Have Inherent Risks in New Study
A new report released by the Bank of Canada has revealed that the bank believes Central Bank Digital Currencies can pose security risks to users

Can CBDC Drive Financial Inclusion?
There are still 1.7 billion unbanked in the world. What are the reasons behind such a significant number of unbanked? Can CBDC drive their financial inclusion?

Hyperledger's Brian Behlendorf on Blockchain Interoperability, China's BSN, ID2020 and CBDC
Brian Behlendorf, Executive Director of Hyperledger discusses open-source software development and blockchain technology, China's BSN, ID2020, and CBDC.

ConsenSys Picked to Help Develop Phase 2 of Hong Kong's CBDC Project
Blockchain firm ConsenSys has revealed that it has been awarded a cross-border payment network study project by the Hong Kong Monetary Authority (HKMA)

Is The US Ready for CBDC? Most Americans Opposed to Digital Dollar Adoption, Survey Reveals
Most American citizens appear to be against a digital dollar adoption within the US, preferring paper money to CBDC, according to a study.

Visa Blockchain Payments Will Help Promote Bank CBDC Integration
Visa is enhancing its blockchain payment drives among its merchants through research while forming partnerships with central banks for CBDC issuance

Federal Reserve Has Been Advancing CBDC Research with US Regional Banks’ Contributions
The Federal Reserve's research and development on a central bank digital currency issuance has been complemented by several regional Federal banks' efforts.

Galaxy Digital CEO Mike Novogratz Says Launch of Digital Euro Will Drive Bitcoin Adoption
Galaxy Digital CEO Mike Novogratz argues that central banks like the ECB launching their own digital currency could drive Bitcoin adoption further.

Mastercard VP On Blockchain, Digital Assets and CBDC: “Everything Ends in Transactions and Payments”
Ashok Venkateswaran, Mastercard’s Blockchain and Digital Assets Lead, Asia Pacific shares insights on the payment giant's new blockchain and digital initiatives.

Chinese E-Commerce Giant JD.com to Build CBDC Digital Wallet to Support China’s DCEP
JD.com has recently partnered with the People’s Bank of China Digital Currency Research Institute to build mobile apps and wallets to support China’s CBDC.

What is CBDC?
CBDC stands for Central Bank Digital Currency, and represents the digital form of a nation’s fiat money (currency backed by trust or faith in the regulating government).

ECB President Lagarde: Digital Euro CBDC Will Complement Not Substitute Cash
Christine Lagarde, President of the European Central Bank (ECB), said that a CBDC or digital euro would most likely work in tandem with fiat currency, not replace it.

China PBOC Views CBDC Race as "New Battlefied" Between Sovereign Nations
China through its apex bank, the People’s Bank of China (PBOC) has reiterated its desire to be the first nation to issue a Central Bank Digital Currency (CBDC)

The Reserve Bank of Australia Refuses to Join the CBDC Bandwagon
The Reserve Bank of Australia (RBA) has refused to join the bandwagon with respect to the development and issuance of a Central Bank Digital Currency (CBDC).

Leaked EU Commission Draft on Crypto Assets Law: How Will Cryptocurrency be Regulated?
A leaked European Union legislative draft on digital assets reveals the country's plans for cryptocurrency trading and issuance across the nation.

The Bahamas Central Bank Digital Currency Will Be Rolled Out in October
The Bahamas Central Bank has announced its CBDC, dubbed Sand Dollars, will be ready by next month for roll out.

Tezos Blockchain Chosen for French Digital Euro by Societe Generale-Forge
Societe Generale-Forge has selected the Tezos blockchain for its central bank digital currency (CBDC) experiment with the French central bank.

Can Alipay and WeChat Pay Compete With China’s Fee-Free Digital Yuan?
Will Alipay and WeChat Pay survive the People's Bank Of China's rollout of the digital yuan or DCEP?

European Central Bank President: Coronavirus Has Accelerated Digital Currency Adoption
COVID-19 has led to an acceleration in digital payments adoption and technological innovation, as seen by the spending pattern of European citizens.

Mastercard Launches Virtual Platform to Help Governments Test CBDCs
Payment giant Mastercard has unveiled a virtual platform that will enable central banks to assess and explore Central Bank Digital Currencies (CBDCs).

How Australia's National Blockchain Roadmap Will Change The Future
Australia was one of the first countries to recognize the immense potential of blockchain technology and to incorporate it into various sectors in the country.

Chinese Yuan Poised to Become the World’s Third Largest Reserve Currency by 2030—Is DCEP Part of the Plan?
Morgan Stanley analysts are predicting that the Chinese yuan will become the third-largest reserve currency in the world, is the DCEP part of the plan?

Bank of England is for Stablecoin and CBDC, but Says ‘Bitcoin Has No Connection at All to Money’
The governor of the Bank of England, Andrew Bailey, shared his views on Bitcoin and said that the cryptocurrency “had no connection at all to money.”

Brazil Could Deploy CBDC by 2022, Says Central Bank President
According to Brazil’s Central Bank president Roberto Campos Neto, the country has all the necessary implementations set in place for a digital currency issuance to happen in 2022.

CBDC Privacy and Transparency: Double-Edged Sword of Blockchain
Privacy and transparency of CDBC, to enslave us or free us? that's the question.

Bank of Korea Seeks a Consulting Partner to Accelerate CBDC Launch
The Bank of Korea (BoK) is in search of a consulting partner to help develop the architecture for its Central Bank Digital Currency (CBDC).

Central Bank of Brazil Forms a Digital Currency Study Team to Drive CBDC Research Forward
The Central Bank of Brazil is planning the potential issuance of a Central Bank Digital Currency (CBDC) by setting up a research study group.

Bank for International Settlements Reveals Findings on Central Bank Digital Currencies
The Bank for International Settlements released its analysis report in which it evaluated central bank digital currencies globally.

China’s DCEP Aims to Restructure the Payment Network While Maintaining a “Normal” Monetary Policy
A Chinese senior central bank official said China should maintain a “normal” monetary policy as the country has been recovering from COVID-19 smoothly.

China's DCEP Testing Limited to Small Retail Transactions for Now
The People’s Bank of China (PBOC) has affirmed that the testing of its CBDC project is concentrated only to small scale transactions for now.

Ripple Co-Founder says US-China Tech Cold War Will Be Won and Lost on Crypto and Blockchain Battlefield
Ripple Co-Founder, Chris Larsen believes the Cold Tech War between China and the United States is going to be won and lost on the blockchain battlefield.

China’s CBDC Testing Expansions Exaggerated, Digital Currency Details Revealed
A source close to the matter said that China's CBDC pilot program "has not yet been expanded on a large scale," and the test is just "internal and closed.”

RBL Bank Partners with Accenture to Build A Digital Bank Infrastructure
RBL Bank announced that it will partner with Accenture, who envisions that it will enhance the bank’s information technology (IT) network and services.

Federal Reserve Bank of Boston Partners with MIT to Research How Crypto Can Co-exist with the Dollar
The Federal Reserve Bank of Boston has partnered with the Massachusetts Institute of Technology (MIT) to research the feasibility of cryptocurrencies co-existing with fiat currencies

China to Prioritize Testing its Central Bank Digital Currency in Wealthier Cities First
China is planning a more extensive expansion of the testing of its central bank digital currency (CBDC) after reportedly starting its first tests in the Greater Bay Area.

Top Four South Korean Banks Announce Plans to Provide Cryptocurrency Custodial Services
Two of South Korea’s top banks have recently announced that they were looking into providing cryptocurrency custodial services to their clients.

Federal Reserve Digital Dollar DLT Testing Underway But CBDC Monetary Policy Lags
Federal Reserve Board Governor Lael Brainaird announced that the United States Federal Reserve is currently experimenting with blockchain and DLT in pursuit of its central bank digital currency (CBDC) or digital dollar.

Bank of Lithuania Calls For Uniform Regulation for Digital Financial Innovation Across Europe
Bank of Lithuania, Lietuvos Bankas, has proposed uniform regulations throughout the European Union in response to the European Commission’s consultations for the development of the digitalization of financial services in Europe.

First Blockchain National Currency Platform Ready for Central Banks’ CBDC Issuance
The blockchain national currency platform issued by blockchain company Apollo Fintech was finalized and completed on August 12.

China Hand-Picks the Greater Bay Area Surrounding Hong Kong to be the First to Deploy its CBDC
China’s central bank digital currency (CBDC) has been successfully launched earlier this year and the country is currently continuing its path towards fully launching its digital currency electronic payment (DCEP).