Category: CBDC


BIS: Cryptocurrencies Are Often Used in Financial Crimes, Money Laundering, Ransomware Attacks


BIS: Cryptocurrencies Are Often Used in Financial Crimes, Money Laundering, Ransomware AttacksThe Bank of International Settlements (BIS) says that it is now clear that cryptocurrencies are not money but speculative assets, emphasizing that in many cases they are used “to facilitate money laundering, ransomware attacks, and other financial crimes.” BIS Criticizes Cryptocurrencies, Bitcoin The Bank of International Settlements published its annual economic report Wednesday, discussing cryptocurrencies, […]





Rwanda Central Bank Joins CBDC Bandwagon After Announcing Digital Currency Research


The National Bank of Rwanda (NBR) has become the latest African central bank to join the digital currency movement after an employee confirmed the institution is studying the possibilities of issuing its own digital currency. CBDC Implications on Financial Stability According to the employee, John Karamuka, this study will be looking at economic, financial, and […]


Bank of France, Swiss Crypto Bank Test Securities Settlement Using CBDC


Bank of France, Swiss Crypto Bank Test Securities Settlement Using CBDCThe Bank of France has successfully completed an experiment involving the use of CBDC to settle listed securities. The test has been carried out with the help of an alliance of partners led by SEBA Bank, a digital asset banking provider based in the Swiss crypto valley. Central Bank and Crypto Company Conduct Successful CBDC […]


Privacy Is Key for Successful Digital Euro, Data Protection Body Says


Privacy Is Key for Successful Digital Euro, Data Protection Body SaysThe European Data Protection Board (EDPB) has issued a call for EU institutions to uphold privacy when designing a digital version of the euro. The agency is ready to provide advice on data protection matters surrounding the project. Meanwhile, an ECB executive has vowed that the digital euro will protect users’ privacy. EDPB Insists Data […]




Spanish Deputies File Proposal to Accelerate the Creation of a Digital Euro


spanishA group of Spanish deputies filed a proposal that seeks to accelerate the implementation of a digital euro. The proposal, presented on June 8, asks for the creation of a group to study the implementation of a digital currency in the Eurozone. This study group, if created, would be aided by the Bank of Spain. […]


Over 3,000 ATMs in Beijing Offer Digital Yuan Withdrawals


Over 3,000 ATMs in Beijing Offer Digital Yuan WithdrawalsLeading Chinese banks have introduced digital yuan withdrawals at more than 3,000 ATM locations in Beijing. Residents of the capital city will now be able to exchange their e-CNY funds for cash and vice versa. Some of the teller machines are located in a popular shopping area. Banks Launch Support for Digital Yuan at ATMs […]




The CBN Says Nigeria Will Have a Digital Currency Before End of Year


Nigeria is likely to have its own central bank digital currency (CBDC) by the end of the year, an official with the Central Bank of Nigeria (CBN) has said. In his remarks following the bankers’ committee meeting, Rakiya Mohammed, who is the director of information technology at CBN, also revealed that this “digital currency would […]


Swiss, French Central Banks to Trial Wholesale CBDC Settlements With BIS and Private Sector


Swiss, French Central Banks to Trial CBDC Settlements With BIS and Private SectorThe central banks of Switzerland and France are joining hands with the Bank for International Settlements to test wholesale central bank digital currencies in cross-border transactions. The experiment will be conducted with the help of a private sector consortium led by Accenture. European Central Banks to Collaborate on CBDC Project The Swiss National Bank (SNB), […]






Hong Kong to Connect Digital Yuan With Domestic Payments System in Cross-Border Trials


Hong Kong to Connect Digital Yuan With Domestic Payments System in Cross-Border TrialsFinancial authorities in Hong Kong have announced a second phase of trials for mainland China’s digital currency. As part of the upcoming tests, the city will link the Chinese digital yuan to its domestic payments system to evaluate the CBDC’s usability in cross-border scenarios. Hong Kong Residents to Load E-CNY Wallets via Mobile Phones China […]


Members of East Africa Community Explore Potential Use of CBDC for Alternative Regional Payment System


Six East African states are reportedly set to explore the possibility of using central bank digital currencies (CBDC) as an alternative to their shared payment system. The six countries, which are all members of the East Africa Community (EAC) trading bloc, are hoping this alternative will create a pathway that leads to the attainment of […]




Shanghai to Hand Out $3 Million in Digital Yuan Lottery


Shanghai to Hand Out $3 Million in Digital Yuan LotteryAs part of government efforts to get the digital yuan going, authorities in Shanghai will distribute $3 million worth of the central bank-issued currency among residents of Shanghai. The digital money will be dispersed through a lottery, a method that has already been implemented elsewhere in China. Lottery Winners to Get 350,000 Digital Red Envelopes […]


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