Technically, the Central African Republic’s (CAR’s) decision to make bitcoin a legal tender alongside the regional CFA Franc isn’t central bank digital currency (CBDC) news. In some ways, it’s the opposite, as many CBDC projects are aimed at preventing the use of cryptocurrencies, and particularly...
Citizens in China have reportedly begun paying taxes with the digital yuan as part of a pilot program in the Zhejiang province. As Crypto News reported Friday (April 29), several government organizations in that part of China are testing solutions involving digital yuan transfers to...
After scrolling through the 11,000-plus comments the European Commission has received about its digital euro project, it isn’t hard to get flashbacks to the reception a different type of digital currency received last year. El Salvador’s embrace of Bitcoin as an official currency is in...
While followers of central bank digital currencies (CBDCs) have generally been tracking 85 to 91 projects, a new study by top consulting and accounting firm PwC found that 80% of central banks around the world are at least considering adding a digital version of their...
Europe is preparing the ground for a digital euro and it doesn’t want to miss this opportunity to evaluate the whole European payment system. The European Central Bank (ECB) is leading the efforts to create a central bank digital currency (CBDC). According to an ECB...
A growing school of thought says there is an important role for non-bank payments services providers in central bank digital currency (CBDC) design. By and large, public discussions about central bank digital currencies have either assumed or come to the conclusion that they should be...
There has been a widespread assumption that central bank digital currencies (CBDCs) would be built on blockchain — or at least the distributed-ledger technology (DLT) it’s based on. However, a growing number of central bankers and CBDC designers are casting doubt on the need for...
The Depository Trust & Clearing Corporation (DTCC) announced the launch of a new central bank digital currency (CBDC) project Tuesday (April 12). According to a DTCC news release, the company is developing the first prototype to examine how a CBDC “might operate in the U.S....
In a speech delivered on April 8, 2022 at Georgetown University, Michael Hsu, Acting Comptroller of the Office of the Comptroller of the Currency (OCC), expressed his views on the ideal architecture of stablecoins. This speech marked the end of a week where most public...
