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CBDCs
Japan's CBDC to Get a Clearer Picture by 2022, Says Government Official: Report
The official also said more details on the CBDC's design may kick up a debate on how its issuance could impact financial institutions.
Ohio Congressman: Bitcoin Poses No Threat to US Dollar
Rep. Warren Davidson, Ohio Congressman and House Financial Technology Task Force Ranking Member, discusses the contentious crypto conversations in Congress: Bill Foster proposing cryptographic backdoors to reverse crypto transactions. "Foster's clearly on one side, and I'm on the other," Davidson said. He also explains how closely lawmakers are focusing on the role of stablecoins on exchanges, suggesting tether (USDT) should be regulated as a security measure. Plus, reactions on the rise of central bank digital currencies (CBDCs) around the world.
Ukraine Puts CBDC On Par With Cash in New Payments Law
The Ukrainian legislation now lists the future central bank digital currency as a kind of money similar to cash or bank accounts.
Russia and China Moving Their CBDC Projects Forward
Central bank digital currency (CBDC) initiatives around the world are ramping up. The Bank of Russia has reportedly named 12 banks to develop a prototype of the digital ruble by December. Meanwhile, the CBDC trials have reached Beijing’s subways as passengers can now use the digital yuan to pay their fares.
China's CBDC Trials Reach Beijing Subway
Passengers with Industrial and Commercial Bank of China's mobile app can use the digital yuan to pay their fares.
Bank of Russia Picks Banks to Pilot Digital Ruble
The regulator expects the prototype of the CBDC in December and piloting it in 2022.
Spain Considers Implementing a Digital Euro
The ruling party PSOE presented a non-law proposition in the Spanish Congress.
Stablecoins and CBDCs: Private Vs. Public Monetary Innovation
A Federal Reserve official praised stablecoins over CBDCs, yesterday. The debate cuts right to role of government in money.
Blockchain in Asia: China’s Ripple Effect
Throughout Asia, the race is on to lead not just the region but the world in the blockchain and digital currency space. China may have been first out of the gate, but the rest of Asia is scrambling to keep up.
Singapore’s Central Bank, IMF Launch Global Challenge for CBDC Solutions
The Monetary Authority of Singapore’s “Global CBDC Challenge” will be supported by Amazon Web Services, Mastercard, Hyperledger and others.