Senator Pat Toomey, who is a top member of the Senate Banking Committee, has said China’s digital yuan could open a door for the U.S. to get more heavily into the crypto space. In a letter to Treasury Secretary Janet Yellen and Secretary of State...
Military junta-ruled Myanmar is planning to create a central bank digital currency (CBDC) that will join the kyat as legal tender. The oppressive ruling military council said it believes a “digital currency will help improve financial activities in Myanmar,” the deputy information minister, Maj. Gen....
A digital dollar experiment by the Boston Fed and MIT was able to produce a functioning and fault-tolerant central bank digital currency (CBDC) design that could handle 1.7 million transactions per second, with 99% completed within one second. And it isn’t built on a blockchain....
Central Bank of Jordan Governor Adel Al Sharkas said recently the agency is considering whether to create its own central bank digital currency (CBDC) that would be linked with the country’s national currency (the Jordanian dinar), according to a New Business Herald report Tuesday (Feb....
Jamaica hopes its new central bank digital currency (CBDC), due to be unveiled in the first quarter of the year, will help the country’s unbanked population. That’s according to Natalie Haynes, a deputy governor with Bank of Jamaica (BOJ) for banking and currency operations and...
This week in central bank digital currencies (CDBCs), the Federal Reserve sounds a note of caution about a nationwide digital currency, while Japan and Iran show more interest. Also, Russia tests the digital ruble while its finance ministry says cryptocurrency should be regulated, not banned....
China’s food delivery service Meituan has become the latest tech firm to let customers use central bank digital currency (CBDC) payments. As CoinTelegraph reported Friday (Jan. 28), users can link their Meituan app to a digital wallet to pay for daily services like cabs, hotel...
The Bank of America has said a digital currency for the U.S. is “inevitable,” and might occur sometime between 2025 to 2030, Bloomberg writes. Strategists Alkesh Shah and Andrew Moss said the idea of a CBDC is an “inevitable evolution” of today’s electronic currencies. They...
South Korea’s central bank has concluded the first phase of its test of a central bank digital currency (CBDC), CoinDesk reported Monday (Jan. 24). The Bank of Korea’s initial test looked at the basic functions of the currency, using a simulation environment to study its...
