Brazil is integrating DeFi principles into the creation of its own "synthetic" central bank digital currency (CBDC), Drex, formerly known as the Brazilian digital real. According to Roberto Campos Neto, president of Banco Central do Brasil (BCB), the South American country aims to design a CBDC that tackles the "trilemma" ...
Russia's largest bank, Sberbank, will start offering the country's central bank digital currency (CBDC), the digital ruble, to its customers by early 2025. Anatoly Popov, Deputy Chief Executive of Sberbank, reportedly confirmed the bank's involvement, alongside around 20 other financial institutions, in the second phase of the Bank of Russia ...
Bahamas is set to publish regulations that will require commercial banks to offer access to its central bank digital currency (CBDC) in a bid to spur increased adoption. According to Reuters, the Bahamas central bank governor, John Rolle, announced that the nation is making this move to solidify its position ...
India's central bank digital currency (CBDC), the e-rupee, is experiencing a significant decline in activity after local banks ceased efforts to artificially inflate its usage metrics, according to a new report from Reuters. The Reserve Bank of India (RBI) launched the e-rupee pilot in December 2022 as a digital alternative ...
Pro-bitcoin regulations have been approved in a second U.S. state as Louisiana passes a groundbreaking pro-bitcoin bill to safeguard access to bitcoin and limit Central Bank Digital Currencies. Governor Jeff Landry signed House Bill 488 into law after it received bipartisan support from both chambers of the State legislature. The ...
The Bank of Israel has announced an open challenge to develop innovative use cases for its proposed central bank digital currency (CBDC), the digital shekel. This initiative, tagged the "Digital Shekel Challenge," is inspired by the BIS Innovation Center's "Rosalind Project," and is part of the Bank's ongoing efforts to ...
The U.S. Securities and Exchange Commission (SEC) has approved eight proposals for listing spot Ethereum exchange-traded funds (ETFs) for public trading in the United States. The SEC's notice of approval, which was published on May 23, 2024, came just before the expiration of its decision-making window to accept or reject ...
Democrats in the U.S. House of Representatives have been given the autonomy to vote on two significant pro-crypto bills, as revealed in a May 20 email from Democratic leaders obtained by POLITICO. The Financial Innovation and Technology for the 21st Century (FIT21) Act and the CBDC Anti-Surveillance State Act (H.R. ...
Brazil's central Bank, Banco Central do Brasil (BCB), announced on August 7, 2023, that their digital currency (CBDC) will now be called "Drex" instead of "Real Digital." According to the Central Bank’s official statement, the name "Drex" is an amalgamation of letters: the "d" and "r" is a nod to ...
The Bank of Korea has chosen three districts - Jeju, Busan, and Incheon - as pilot locations for the Central Bank Digital Currency (CBDC) trial. Referred to as the "private target CBDC test bed," this selection was confirmed on July 31, 2023, and notably excludes Seoul, the nation's capital. According ...
