Programmability has been pegged as one of the major draws of digital currencies and one of innovative services that central bank digital currency (CBDCs) could help facilitate. But there is a distinction to be made between programmable payments — setting predefined terms for a payment...
As the world’s digital transformation accelerates, money and payments are coming along for the ride. Or leading the charge, depending on who you ask. This, as a new report from The Office of Financial Research (OFR), an independent bureau reporting to the U.S. Department of...
Bills opposing a central bank digital currency (CBDC) in the U.S. have been introduced at both the federal and state level. Sen. Ted Cruz, R-Texas, announced a bill Tuesday (March 21) that would prohibit the Federal Reserve from developing a direct-to-consumer CBDC. “The federal government...
A cash shortage in Nigeria has made the country’s digital currency much more popular. The value of eNaria transactions has jumped 63% to 22 billion naira ($47.7 million), the head of the country’s central bank told reporters Wednesday (March 22) “The eNaira has emerged as...
A digital euro may provide Europe with greater resiliency and autonomy. So said European Central Bank President Christine Lagarde during a virtual event hosted by the Bank for International Settlements, Bloomberg reported Tuesday (March 21). Lagarde pointed to the fact that many Europeans depend on...
Florida Gov. Ron DeSantis wants to ban central bank digital currencies (CBDCs). DeSantis has proposed legislation that would prohibit the use of both federal and foreign CBDC as money, and called on others states to do the same by adding such prohibitions to their uniform...
The U.K.’s digital currency project will have real world benefits for the country’s businesses. That’s according to Ben Broadbent, deputy governor for monetary policy at the Bank of England, who said at a conference Monday (Feb. 27) that the country’s central bank’s “keenest attention” was...
The United Arab Emirates (UAE) is preparing to launch a central bank digital currency. The Gulf nation announced its digital currency plans Sunday (Feb. 12) as part of its Financial Infrastructure Transformation (FIT) Program. With the announcement, the UAE joins more than 100 other countries...
The way people pay for things is changing as the nature of money itself transforms. Fearing they may one day be left behind as digital, crypto and other currencies not backed by national governments continue encroaching on the use of physical, native fiat, the central...
