Mon, December 23

Tanzanian Central Bank Adopts Cautionary Approach in CBDC Analysis

The Tanzanian central bank is still thinking about introducing a central bank digital currency (CBDC), but they claim they would do it in a “phased, cautious, and risk-based approach” due to the many potential obstacles in the way. The Central Bank stated: “Analysis of these findings indicate that majority of

January 16, 2023 1 min read

Launch of Mexican CBDC Likely To Be Delayed Beyond 2024

As of December 29th, 2021, the Mexican government has declared through social media that they will be creating their own digital peso, to be released in 2024. Recent reports from Banxico, Mexico’s central bank, suggest that this schedule is becoming unrealistic. Reports from the ground indicate that the general directorate

January 8, 2023 1 min read

Cryptocurrencies Will Cause the Next Financial Crisis, Says RBI Governor

Shaktikanta Das, the Governor of India’s central bank, The Reserve Bank of India (RBI), has issued a cautionary statement regarding cryptocurrencies. On Wednesday, the RBI governor declared that private cryptocurrencies will create the next financial catastrophe. He added that he still believes in the need for cryptocurrency regulation. Shaktikanta stated: 

December 21, 2022 2 mins read

Central Bank of Kazakhstan Completes Second Phase CBDC Trial

Officials at Kazakhstan’s central bank, the National Bank of Kazakhstan (NBK), say they’ve finished phase two of testing the infrastructure supporting the country’s central bank digital currency (CBDC). The whitepaper produced by the regulator. Presents trial findings and research on the necessity for a new form of national fiat, the

December 18, 2022 1 min read

AliPay Integrates Digital Yuan For Instant Payments Boosting Adoption

AliPay has integrated the Digital Yuan to enable instant payments across all of Alibaba Group Holding’s e-commerce platforms, including Taobao and Tmall, in an effort to promote China’s digital currency, e-CNY. The Ant Group operates AliPay, the dominant digital payment system in China. Tuesday, December 13th was the formal announcement

December 13, 2022 1 min read

Bank of England Seeks Proof of Concept Wallet For CBDC

Proof-of-concept for a wallet that may store a Central Bank Digital Currency (CBDC) is being sought by the Bank of England (BOE). The Bank of England (BOE) advertised a call for proposals on the Digital Marketplace. A platform for government agencies to offer digital project work, on the 9th of

December 12, 2022 2 mins read

Spain Bank Proposes for Wholesale CBDC Project

Banks Spain has proposed a wholesale CBDC project, according to the coin desk on Monday. The proposal is for various financial institutions and technology service providers. According to an official statement from the bank, the program intends to increase the usage of CBDCs in wholesale transactions. Wholesale transactions are those

December 8, 2022 1 min read

Nigeria Restricted ATM Withdrawals to Promote CBDC Adoption

Nigeria has significantly reduced the daily cap on cash withdrawals from ATMs to encourage the usage of ‘eNaira,’ the Central Bank of Nigeria’s digital currency (CBDC). Individuals and organizations, who violate the government-imposed restrictions will be penalized between 5% and 10%. To enhance digital currency circulation the central bank restriction

December 7, 2022 1 min read

Indonesia’s Upcoming CBDC Can Be Used in Metaverse

Beginning with domestic bank-to-bank transactions, Indonesia is advancing its “Project Garuda” plans for a central bank digital currency (CBDC) called Digital Rupiah. The official introduction of the Digital Rupiah design happened last week by the Bank of Indonesia. In the meanwhile, other large economies like India have been trying out

December 6, 2022 2 mins read

Pakistan Enacts New Legislations To Introduce CBDC by 2025

Central bank digital currencies (CBDCs) are seen by regulators throughout the globe as a method to improve fiat capabilities by emulating the technological innovations that fuel cryptocurrencies and their associated financial prowess. Following suit, Pakistan has announced new legislation to facilitate the introduction of a domestic CBDC by 2025. Moreover,

December 5, 2022 1 min read