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The Latest Breaking News from CBDC

New Zealand’s Central Bank Plans for Digital Future with XRP Playing a Major Role

New Zealand's financial system faces a dramatic shake-up. The Reserve Bank is exploring a new digital currency, which is bringing renewed attention to established cryptocurrencies. This article analyzes just how XRP fits into the country's financial future.

inkl

The GENIUS, CLARITY, and Anti-CBDC Acts: What Bitcoin Investors Need to Know

Movement on the crypto front at the federal level has the potential to usher in substantial change. Here's what it means for your portfolio.

Kiplinger

CBDCs vs. Stablecoins: The battle for The Future of Digital Payments

The Bank for International Settlements recently released a report claiming that 94% of central banks are already exploring central bank digital currencies (CBDCs).

inkl

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The New Cold War race for digital currencies could redefine global power. Should Australia be in it?

On Donald Trump’s return to the White House, he issued an executive order banning a US “digital dollar”. A compelling new book, framed as a wake-up call to Western policy-makers, reveals the global significance of this move.

The Conversation

Bitcoiners vs $XRP Army: Top Crypto Communities Clash Over Strategic Digital Assets Reserve

Bitcoin maximalists are clashing with the $XRP Army over a crypto executive's claim that Ripple is the "biggest hurdle" toward the establishment of a strategic $BTC reserve – is Bitcoin threatened or is Ripple a pro-CBDC entity?

International Business Times

IMF Offers a Glimpse at the Perils of Central Bank Digital Currencies

Government-controlled digital money could mean the end of financial privacy and independence.

Reason

Robinhood, Kraken, Galaxy, Other Crypto Firms Launch Global Stablecoin Network

A group of major crypto players have jointly launched $USDG, a new stablecoin under the Global Dollar Network that should "revolutionize" the stablecoin ecosystem and set high standards for compliance.

International Business Times

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Donald Trump vows to make U.S. a 'Bitcoin superpower' and create national stockpile of tokens

"There will never be a CBDC while I'm president of the United States," Trump said.

Fortune

Will digital currencies become the norm as the world moves towards a cashless society?

More than 90% of the world’s central banks are looking at introducing a central bank digital currency (CBDC), to complement existing banknotes.

The Conversation

House Passes Bill Blocking US Central Bank From Issuing 'Detrimental' CBDC

Following a sweeping vote to pass FIT21, the House has now passed H.R. 5403, which effectively bans the U.S. central bank from issuing a CBDC that Republican members believe might be used by the government to surveil the financial activities of the American public.

International Business Times

Gluwa Partners with the Central Bank of Nigeria to Foster eNaira Adoption

Abuja, Nigeria, March 9th, 2024, Chainwire

International Business Times

Central Banks Worldwide Exploring Digital Currencies To Modernize Economies.

Explore the global momentum of Central Bank Digital Currencies (CBDCs) and their potential impact on economies and financial systems.

Top News

Fed 'Nowhere Near' Endorsing CBDC, Will Not Spy On People's Data: Powell

Powell told a Senate committee on Thursday that American consumers shouldn't be worried about a CBDC coming out as the Fed is not even thinking about it at this time.

International Business Times

Republican Senators Move To Block Federal Reserve From Issuing A CBDC

Sen. Ted Cruz and several other Republican senators are pushing a bill that could prohibit the U.S. central bank from issuing CBDCs, saying a CBDC will only infringe on the American public's financial freedoms.

International Business Times

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International Business Times

Foreign CBDCs Could Erode US Dollar's Exchange Medium Role: Fed Analysts

U.S. Federal Reserve analysts have warned of "some potential" for the dollar's role as a medium of exchange to be eroded with the rise of well-designed foreign CBDCs.

The Conversation

Canadians have serious trust issues when it comes to a central bank digital currency

The Bank of Canada recently published findings from its public consultation report on a central bank digital currency, known as CBDCs.

Fortune

Fed’s Michael Barr calls for strong stablecoin regulation and says ‘we haven’t made a decision’ when it comes to CBDCs

The Federal Reserve vice chair for supervision spoke at D.C. Fintech Week on Tuesday.

Bangkok Post

Krungsri upbeat on digital baht

The Bank of Thailand is working with three payment service providers to launch its retail central bank digital currency (CBDC), a novel financial infrastructure it claims will improve the convenience and efficiency of financial transactions with lower costs.

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The Conversation

Meet the EU's answer to crypto: the e-euro

In a bid to play catch up with technology companies and younger generations of consumers, central banks are finally starting to take digital currencies seriously. Countries such as Sweden, China, and India have establish pilot digital currencies – respectively, the e-krona, e-yuan and e-rupee – via their central banks. In…

Reason

'Cash Is Independence': Ron DeSantis Slams the Government's Plan for Centrally-Controlled Digital Money

"If you don't trust central authority, then you should see this immediately as something that is very problematic," says the Florida governor.

Fortune

Can a CBDC be truly private?

Government-backed digital currencies are drawing critics from the left and right.

Tribune News Service

US presidential hopefuls rally against a digital dollar ahead of 2024 elections

The conversation around the role of central banks in the economy has taken on a new dimension among U.S. presidential hopefuls like Ron DeSantis and Vivek Ramaswamy. These politicians want to make it clear they would not support any proposals for a central bank-backed digital U.S. dollar as they make…

Fortune

Ron DeSantis proposed a bill to ban CBDCs. A trade policy professor calls that 'a little ludicrous'

With his eyes on the 2024 presidential election, the Florida governor's proposal "is largely a political gesture."

Orlando Sentinel

DeSantis wants to ban federal digital currency, despite debunking of concerns

TALLAHASSEE — Echoing recent claims by Alex Jones and other right-wing personalities that the federal government wants to create a Communist-style surveillance system to track the spending habits of Americans, Gov. Ron DeSantis on Monday said he wants to ban such activities in Florida.

Fortune

Fed Chairman Jerome Powell says a CBDC won't happen soon: 'We're not at the stage of making any real decisions'

President Joe Biden issued an executive order last year calling for more urgency and research on CBDCs.

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