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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
On Wednesday, US Congressman Tom Emmer introduced a new bill to Congress that prohibited “the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals.” Emmer explained that nations like China “develop CBDCs that fundamentally omit the benefits and protections of cash.” He suggested, instead, that the US digital currency policy must […]
Two top state-run Chinese banks, namely China Construction Bank (CCB) and Bank of Communications (Bocom), have ramped up editors to develop new use cases for the PBoC-issued CBDC (central bank digital currency). The behemoth financial institutions now collaborate with investment fund managers and insurance companies in line with their digital yuan (e-CNY) pilot projects. According […]
