Anyone hoping the Federal Reserve Board would shed light on the future of the digital dollar in its highly anticipated white paper in January was disappointed. The Fed’s “Money and Payments: The U.S. Dollar in the Age of Digital Transformation,” offered little direction on any...
The Bank of England, like many other central banks around the world, is still weighing the pros and cons of issuing a central bank digital currency (CBDC) — and if it ultimately decides to go ahead, how the design should respect citizens’ privacy and guarantee...
There were more than a few interesting things that came out of the report this week on the results of the experiments the Boston Fed has been running with MIT’s Digital Currency Initiative for the past 18 months. Project Hamilton is not advocating for or...
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....