A new bill seeks to purge not just blockchain, but all digital ledgers from the digital dollar. Rep. Patrick Lynch (D-Mass.) and four Democratic colleagues announced the “Electronic Currency And Secure Hardware Act” (ECASH Act) on March 28, seeking to hand the responsibility for creating...
The Bank for International Settlements (BIS) and four central banks have completed trials of two blockchain-based platforms that a multinational central bank digital currency (CBDC) technical standard could be based on. Nationally issued CBDCs like the digital yuan and proposed digital dollar could make both...
The Arab Monetary Fund (AMF) has named RippleNet as a potential alternative to adopting central bank digital currencies (CBDCs), a report said Sunday (March 20). The AMF’s Arab Regional Fintech Working Group has said there’s considerable risk for a country to issue a CBDC, in...
With its prominent inclusion in President Joe Biden’s executive order on crypto, the topic of a U.S. central bank digital currency (CBDC) was back on top of a lot of minds this week, and a couple of noteworthy trends can be seen — mostly related...
The Bank of Canada is teaming up with the Massachusetts Institute of Technology (MIT) on a 12-month research project that’s focused on the design of a potential Central Bank Digital Currency (CBDC), according to a Cointelegraph report Thursday (March 17). Bank officials will work with...
Ghana is looking to make sure its digital currency will work on a popular payment platforms operated by mobile-phone service providers, Bloomberg reported Tuesday (March 15). The proposed use of eCedi in the West African country must be intuitive and improve financial inclusion, the Bank...
As the move to create central bank digital currencies (CBDCs) expands around the world, it’s worth stepping back and asking why. The two most common answers both pit CBDCs against stablecoins: first, as a way to improve the efficiency and reduce the costs and bottlenecks...
The question of whether the U.S. needs a digital dollar moved far higher up the political agenda this week, as the need for a central bank digital currency (CBDC) played a leading role in President Joe Biden’s eagerly awaited executive order on regulating cryptocurrencies. While...
If you support creating a digital dollar, there’s a lot to be happy about in President Joe Biden’s Wednesday (March 9) executive order on the regulation of cryptocurrency. For one thing, after broad introductory statements about goals and objectives, the first section of the order...