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 ...
South Korean private banks, Hana Bank and Woori Bank, are reportedly exploring the possibilities offered by tokenized deposit technology as a viable alternative to both private stablecoins and Central Bank Digital Currencies (CBDCs). Both banks are actively studying the concept of "certificate of deposit" tokens (CDs), which involves the conversion ...
Republican Congressman Warren Davidson has joined a growing number of U.S. politicians to advocate against the creation of central bank digital currencies (CBDCs). He urged Congress to pass legislation that would not only prevent the issuance of CBDCs but also impose penalties for their development. In a tweet on July ...
Central banks worldwide are increasingly embracing the concept of central bank digital currencies (CBDCs), according to a survey report published by the Bank for International Settlements (BIS) on July 10, 2023. The report revealed that 93% of central banks are already engaged in CBDC research, marking a significant shift in ...
China is aggressively pushing forward with its digital currency adoption efforts as various cities and institutions in the country embark on initiatives to promote the use of the central bank digital currency (CBDC) and build a cashless economy. Recently, Jinan, the capital city of Shandong Province, took a significant step ...
On June 28, 2023, the lower House of North Carolina's legislature successfully passed a bill that directs the State's Treasurer to conduct a comprehensive study on the potential advantages and viability of holding Bitcoin and gold bullion as part of the North Carolina administration's portfolio. The bill sets aside $50,000 ...
