Banco Inter, Microsoft, 7COMm, and Chainlink have joined the second stage of Brazil’s DREX digital currency pilot, initiated by the Central Bank of Brazil. The first phase, launched in May 2023, tested the platform’s capabilities.
The Riksbank has published a report detailing the fourth phase of testing for the e-Krona. Throughout the pilot phase, which spanned from 2020 to 2023, the bank tested the e-Krona's fundamental use cases as a retail currency accessible to the general public. This iteration of the e-Krona was developed on the Corda distributed ledger platform by R3, with the central bank serving as a notary node responsible for verifying and finalizing transactions.
U.S. Republican Senators are drafting a bill aimed at preventing the Federal Reserve from autonomously deciding on the introduction of a Central Bank Digital Currency (CBDC).
At a parliamentary committee session, New Zealand central bank governor Adrian Orr voiced his skepticism towards stablecoins, labeling them as inherently unstable. He argued that their reliability is solely contingent on the financial reserves of the issuing entity. The governor also dismissed the notion of Bitcoin or any similar cryptocurrency as a viable substitute for fiat money or a store of value.
Nigerian banks are teaming up with the nation's Central Bank and various blockchain companies to launch a new stablecoin, Naira (cNGN), slated for 2024. This comes after previous unsuccessful attempts by the government to initiate a similar project and a digital national currency.
U.K. House of Commons Treasury Committee lawmakers, in its recent report, have urged the government to reconsider the regulations for a potential Central Bank Digital Currency (CBDC). Proposed changes include setting a lower limit on individual holdings (up to £3,000) and the option to earn interest on these holdings.
The Central Bank of South Korea is embarking on a significant trial of a Central Bank Digital Currency (CBDC), incorporating basic features. The research is designed to assess the practicality and effectiveness of introducing such a digital asset.
Bitcoin advocate Javier Milei has secured victory in Argentina's presidential elections. Milei, a vocal critic of Argentina's central bank, blames its economic handling for the 140% annual inflation rate of the Argentine peso over the past year.
Chinese oil and gas giant PetroChina has achieved a historic milestone by completing the first international crude oil trade using China’s central bank digital currency (CBDC), the e-CNY.
The United States House Committee on Financial Services has approved a bill prohibiting the Federal Reserve from developing a central bank digital currency (CBDC) in the United States.
Ulrich Bindseil, Director General of Market Infrastructure and Payments at the European Central Bank, along with his advisor Jürgen Schaaf, have openly expressed their disappointment with Bitcoin ETFs and the influx of capital into the crypto sector after the SEC's landmark decision.
The Bank of England, together with the UK's Treasury, is actively deliberating the risks and advantages of introducing a Central Bank Digital Currency, dubbed Britcoin. Their focus is on its potential economic impact and benefits for UK citizens.
The Central Bank of Nigeria has reversed its directive that barred commercial banks from engaging with cryptocurrency platforms. This change has, however, stirred discontent among P2P traders, who had largely taken over the market after the initial ban.
The Philippines’ Bureau of the Treasury collaborates with the nation's central bank to use digital currency (CBDC) for the sale of tokenized government securities. This week, the government successfully raised $271 million through tokenized one-year bonds.
Deutsche Bank and SC Ventures have successfully executed the first stablecoin swaps within the Universal Digital Payments Network (UDPN). This platform was established to facilitate transactions using stablecoins and Central Bank Digital Currencies (CBDC).
European information protection authorities have issued recommendations for regulating the central bank digital currency (CBDC), the digital euro.
