James Rickards and the Argument Against CBDCs

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Inflation continues to eat deep into the value of the dollar. Compared to last year, there’s only a handful of items you can purchase with a $100 bill. Despite this obvious setback, your government-issued bill has one critical advantage over the central bank digital currency (CBDC); you can use it in any purchase while maintaining […]

BIS Publishes Findings from CBDC-Focused Survey on Central Banks

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The Bank of International Settlements (BIS) recently released a report titled “Gaining momentum — Results of the 2021 BIS survey on central bank digital currencies,” which highlighted its findings in a CBDC study. The report was written by senior BIS economist Anneke Kosse and market analyst Ilaria Mattei. Conducted in late 2021, the survey, which […]

India to Launch Digital Rupee in 2023: Finance Minister Sitharaman

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Nirmala Sitharaman, the Finance Minister of India, commented on the nation’s pending central bank digital currency (CBDC) at a business roundtable on “Investing in India’s Digital Revolution” in San Francisco last week. The event, which was organized by the Federation of Indian Chambers of Commerce & Industry (FICCI)—an independent trade association and advocacy group in […]

Iran Opposes Recognition of Cryptocurrency, Announces Development of Digital Rial

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According to a high-ranking government official, Iran is unwilling to recognize cryptocurrency as a legitimate means of payment. This comment, which came from Iran’s deputy minister of communications, Reza Bagheri Asl, comes as the Central Bank of Iran (CBI) published rules for the rolling out of its national digital currency. The deputy minister made the […]

Qatar Central Bank Joins CBDC Race, Evaluates Possibilities

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An executive at the Qatar Central Bank (QCB) has revealed that the financial institution is in the process of studying digital bank licensing and digital currencies. The insider, Alanood Abdullah Al Muftah, the head of the QCB’s fintech division, also noted that the study will help the apex bank acquire a better understanding of the […]

India has No Plan on Issuing Crypto: Finance Minister Chaudhary

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The government of India has told parliament that it has no plans on issuing a Reserve Bank of India (RBI)-regulated cryptocurrency. The Indian finance ministry made some clarification on the “RBI Cryptocurrency” in Rajya Sabha, India’s upper house of parliament, on Tuesday. Member of the Rajya Sabha Sanjay Singh asked the finance minister to explain […]

India to Launch Digital Rupee in 2022 Financial Year

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Indian finance minister, Nirmala Sitharaman, announced yesterday that the Reserve Bank of India (RBI) has settled to issue a central bank digital currency (CBDC) in the new financial year. The minister made the revelation at the 2022 budget presentation in Parliament on February 1. Asserting that the “Introduction of central bank digital currency (CBDC) will […]

US Fed to Release CBDC Between 2025 and 2030– Bank of America

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Although the US Fed has only made mention of issuing a central bank-issued digital currency (CBDC), the Bank of America (BofA) asserts that the product is “inevitable.” Also, BofA researchers argue that stablecoins continue to bloom and become more integral to the monetary system. CBDCs have become a common topic in central bank circles, with […]

US Federal Reserve Lists Pros and Cons of CBDC

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The US Federal Reserve recently released a discussion paper on the advantages and disadvantages of launching a potential US central bank-issued digital currency (CBDC). Reports show that this is the first time the US Fed is consulting the general public on whether the digital dollar could benefit the financial system or not. While many countries […]

Malaysia Joins CDBC Race—Kickstarts Research Process

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Bank Negara Malaysia, the country’s central bank, has reportedly hopped on the train to develop a digital version of its currency. Currently, the project is still in the research stage with the country only “assessing the value proposition” of this kind of financial product. Releasing a central bank-issued digital currency (CBDC) continues to gain traction […]