Banco Central do Brasil is set to expand its Digital Real Pilot Program in mid-June 2023 to include additional participants. In an update on May 24, 2023, the Brazillian central bank revealed the final list of participants selected for the CBDC pilot program. A total of 14 participants were chosen ...
The Monetary Authority of Singapore (MAS) and the New York Innovation Center (NYIC) of the Federal Reserve Bank of New York has published the findings of their collaborative project, "Cedar x Ubin+," which focused on cross-border Central Bank Digital Currency (CBDC) payments. The research addressed challenges related to network autonomy, ...
The G7 Finance Ministers and Central Bank Governors convened in Niigata, Japan, on May 13, 2023, ahead of the G7 Summit in Hiroshima City, to discuss digital currencies and their potential impact on the global monetary and financial system. Representatives from esteemed organizations, including the International Monetary Fund (IMF), World ...
On May 15, 2023, Samsung Electronics and the Bank of Korea (BOK) signed a memorandum of understanding (MOU) to form a strategic partnership to conduct extensive research on offline capabilities of the central bank digital currency (CBDC) for payments. According to a report from local media, Samsung's involvement will be ...
Governor Ron DeSantis has emphasized his commitment to preventing the adoption of centrally backed digital currencies (CBDC) in Florida. He cited concerns about their potential to monitor every transaction. He stated that Florida residents would not accept a CBDC that could allow the government to track all their transactions and ...
Zimbabwe is set to offer its gold-backed digital currency for investors at a minimum price of $10 for individual buyers and $5,000 for businesses and other entities. The offer will be available for a limited time from May 8, 2023, to May 10, 2023. The Reserve Bank of Zimbabwe announced ...
China is increasing the scope of applications for its Central Bank Digital Currency (CBDC), the digital yuan, or e-CNY, as part of its Belt and Road initiative and cross-border trading efforts. The digital yuan, also known as the digital RMB, was among the first CBDCs to be developed and extensively ...
According to a March 28 report, the Bank of Russia's CBDC pilot program will not begin on its previously announced date of April 1, 2023. The legislation that backs the program has only passed the first reading in the lower house of the Federal Assembly. The report noted that the ...
U.S. Republican Senator Ted Cruz has introduced a bill to prevent the United States Federal Reserve from launching a central bank digital currency (CBDC) for direct-to-consumer use. Cruz explained in a statement on March 21, 2023, that he introduced this bill to stop the Fed from creating a retail CBDC, ...
