Indonesia’s Central Bank on Wednesday revealed a planned white paper for a digital rupiah currency that will utilize blockchain technology as the country experiences a spike in digital transactions since 2020. Its been a year since Bank Indonesia (BI) tried to expose the potential of introducing its own digital currency
The National Bank of Ukraine is contemplating the introduction of a digital Ukrainian hryvnia that would be suitable for a range of applications, including the distribution of virtual assets and their subsequent trade. According to a press release issued on Monday, the Central Bank has met with representatives from the
The Reserve Bank of India (RBI) stated on Tuesday that it would begin testing its retail central bank digital currency (CBDC), the digital rupee, in Mumbai, New Delhi, Bengaluru, and Bhubaneswar with the first cooperation of four banks: State Bank of India, ICICI Bank, Yes Bank, and IDFC First Bank.
The dilemma around cryptocurrency is increasing, and the use of Central Bank Digital Currency “CBDC” is surging on more countries’ soil. To weigh this, New York has now been added to the list of the famed states that have been launching CBDCs. The Innovation Center of the Federal Reserve Bank
The CBDC pilot programme at India’s central bank began earlier today. The RBI has released the digital rupee, commonly known as the e-rupee. Although cryptocurrency is not permitted on Indian soil, Central Bank Digital Currency (CBDC) has been met with official support. The Reserve Bank of India (RBI) said in
As NKB said before, the Digital Tenge will be released in late 2022. CZ said that the NKB recently conducted a CBDC “pilot in a controlled environment.” Kazakhstan seems to be quite receptive to the cryptocurrency market. Binance recently received permission to legally do business there. Also, CEO Changpeng Zhao
Electronic wallets employ CBDC that has passed via an intermediary exchange. The novel CBDC-backed stablecoins mimic digitally the preexisting monetary system. On October 21st, the Hong Kong Monetary Authority unveiled the final version of the Aurum retail central bank digital currency (CBDC). The system’s unique architecture reflects the complexities of
Consideration is given to local conditions when the regulations are drafted. The Monetary Authority is learning about stablecoin regulation. In response to the ever-increasing uncertainty in the cryptocurrency market, the widespread use of Central Bank Digital Currency (CBDC) has been on the rise. To counter this, Hong Kong has joined
Macau’s Executive Council proposed a bill that would have the intention to accept CBDC as a legal Tender. The government has not set a date or defined which digital currencies will accept. The Chinese special administrative region of Macau, which has a thriving gambling industry. It has declared its intention
The RBZ’s most recent announcement on the CBDC is similar to its prior updates. CBDC may assist the central bank cut down on the price of printing currency. According to HIT vice chancellor Quinton Kanhukamwe, the Harare Institute of Technology (HIT) in Zimbabwe is working on a central bank digital
