Category: central bank digital currency



New Bank of America Report Says Digital Currencies ‘Could Boost Economic Growth’ in Developing Countries


A new Bank of America (BOA) research study has found that both central bank digital currencies (CBDCs) and private digital currencies hold “a lot of potential” for increasing financial inclusion in developing countries. In the report, the bank also argues that such “digital currencies could reduce transaction costs and allow more economic activities in emerging […]






China’s Absolute Control Over Digital Yuan Will Boost Demand for Cryptocurrencies, Says Analyst


China's Absolute Control Over Digital Yuan Will Boost Demand for Cryptocurrencies, Says AnalystChina’s push for the digital yuan will boost demand for cryptocurrencies, according to an analyst at BK Asset Management, citing that the Chinese government wants “absolute power” over the wealth and income of its citizens. Digital Yuan Push Could Raise Demand for Crypto Boris Schlossberg, managing director of FX Strategy for BK Asset Management, said […]




Digital Yuan Launch Draws Near: JD.com Employees Paid in e-CNY, Tencent, Ant, Mastercard Engage With PBoC


China, the world’s most populous country, has jumped leaps and bounds in comparison to a great number of other countries when it comes to the creation of a central bank digital currency. As each day passes, China’s digital yuan is seemingly getting closer to large-scale adoption, as big-name corporations like the e-commerce giant JD.com, Mastercard, […]


Fed Chair Jerome Powell Says Dogecoin and Gamestop Hype Highlights ‘Froth in Equity Markets’


Fed Chair Jerome Powell Says Dogecoin and Gamestop Hype Highlights 'Froth in Equity Markets'Federal Reserve Chair, Jerome Powell, discussed a number of topics this week such as inflation and central bank digital currencies (CBDCs) following the multi-day Federal Open Market Committee (FOMC) meetings. The central bank’s lead executive was asked about feverish stocks like Gamestop shares and the crypto asset dogecoin. Powell said that the Federal Reserve aims […]



Morgan Stanley Says Central Bank Digital Currencies Not a Threat to Cryptocurrencies


Morgan Stanley Says Central Bank Digital Currencies Not a Threat to CryptocurrenciesMajor investment bank Morgan Stanley believes that central bank digital currencies are not a threat to the existence of cryptocurrencies. The bank believes that both types of digital currencies can coexist because they serve different purposes and have different appeals. Cryptocurrencies and CBDCs Can Coexist Morgan Stanley’s analysts, including chief economist Chetan Ahya, discussed the […]


Bank of England and HM Treasury Launch a Central Bank Digital Currency Taskforce


Bank of England and HM Treasury Launch a Central Bank Digital Currency TaskforceHer Majesty’s Treasury and the Bank of England have revealed the establishment of a central bank digital currency (CBDC) taskforce. According to the announcement, the group’s purpose aims to explore a potential UK CBDC. UK Entities Invoke a CBDC Taskforce to Explore a Central Bank-Issued Digital Currency Central bank digital currencies (CBDCs) have been popping […]



US Government Concerned China’s Digital Yuan Could Threaten Dollar as the World’s Dominant Reserve Currency


US Government Concerned China's Digital Yuan Could Threaten Dollar as the World's Dominant Reserve CurrencyThe U.S. government is reportedly concerned that China’s digital yuan could threaten the U.S. dollar’s status as the world’s dominant reserve currency. Officials at the Treasury, State Department, Pentagon, and National Security Council are increasing their efforts to understand the implications of China’s central bank digital currency. Digital Yuan Could Be a Threat to US […]



The Fed Is Carefully Examining Digital Dollar — Chairman Jerome Powell Says ‘Very High Priority Project for Us’


The Fed Is Carefully Examining Digital Dollar — Chairman Jerome Powell Says 'Very High Priority Project for Us'Federal Reserve Chairman Jerome Powell has provided an update on the progress of a digital dollar. He confirmed that it is a “very high priority project” for the Fed, and agrees with U.S. Treasury Secretary Janet Yellen on the benefits of issuing a digital dollar. The Fed Is Looking Carefully at a Digital Dollar Fed […]


US Federal Reserve Seeking Manager to Research CBDCs and Stablecoins


US Federal Reserve Seeking Manager to Research on CBDCs and StablecoinsThe U.S. Federal Reserve (Fed) has posted a job advertisement that seeks to hire a role related to stablecoins and central bank digital currencies (CBDC). The Fed is looking for a research manager to join its team to assess the “benefits and risks” of digital assets. The Role Is Part of the Fed’s Digital Innovation […]


Indian Parliament to Consider Bill That Creates Digital Rupee While Banning Cryptocurrencies in Current Session


Indian Parliament to Consider Bill that Creates Digital Rupee While Banning Cryptocurrencies in Current SessionThe Indian government has finally moved forward with a cryptocurrency bill. Entitled “The Cryptocurrency and Regulation of Official Digital Currency Bill 2021,” the bill has been listed for consideration in the current parliamentary session of Lok Sabha, the lower house of India’s parliament. It seeks to create a framework for India’s official digital currency to […]


Indian Central Bank Sees Cryptocurrencies Gaining Popularity, Exploring Digital Rupee


Indian Central Bank Sees Cryptocurrencies Gaining Popularity, Exploring Digital RupeeIndia’s central bank, the Reserve Bank of India (RBI), has published a booklet with a section about cryptocurrency and the digital rupee. The central bank acknowledged that cryptocurrencies have gained popularity in recent years and confirmed that it is exploring the need for a central bank digital currency. RBI Says Crypto Has Gained Popularity, Exploring […]





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