The Bank for International Settlement has its “2022 Annual Economic Report” coming out next week and wanted to highlight its opinion of cryptocurrencies, releasing that chapter ahead of time on June 21. Hyun Song Shin, the head of research and an economic adviser to the...
Anything that crypto can do, central bank digital currencies (CBDCs) can do better. That is the broad conclusion reached by the Bank for International Settlements, which prereleased the long, crypto-focused chapter of its “2022 Annual Economic Report” on Tuesday (June 21). Hyun Song Shin, head...
A central bank digital currency (CBDC) would help boost the long-term strength of the U.S. dollar, the chair of the Federal Reserve said Friday (June 17). In his welcoming remarks at a Federal Reserve Board conference in Washington, D.C., Jerome Powell said that in light...
A trade group representing the banking industry is urging European Union officials exploring the creation of a digital euro to proceed slowly and carefully. The first question the group wants answered is whether a digital euro is even necessary. The Institute of International Finance members...
UBS Chief Executive Ralph Hamers told an audience at a student educational forum in Milan Tuesday (June 14) that transaction in digital euro could be “fast and cheaper,” Reuters reported. “It would ensure that there is integrity and with that trust in the system that...
The European Union is closing its public consultation period Tuesday (June 14) regarding its intention to launch a digital euro, with the central bank digital currency (CBDC) project having received overwhelmingly negative feedback on the idea. The more than 16,000 comments largely argued that a...
The European Commission will close a public consultation on the digital euro on Tuesday (June 14), after feedback from EU citizens indicated that a central bank digital currency (CBDC) may not be as welcomed as regulators had hoped for. A day before closing the consultation,...
The banking industry had its say about the Federal Reserve’s ongoing investigation of a digital dollar last week, and it’s fair to say that it fell somewhere between opposition and outrage. In a conversation with PYMNTS’ Karen Webster, Rob Hunter, director of Regulatory and Legislative...
Fed Exec Sees Payments ‘Revolution’ While the Federal Reserve and Treasury Department have been trying to reassure banks that a digital dollar would not disintermediate them, an executive of the New York Federal Reserve warned that central bank digital currencies (CBDCs) could do just that....
