Switzerland’s National Bank (SNB) has approved a wide swath of transactions involving central bank digital currency (CBDC), the country’s monetary authority announced. The Zurich-based regulator said the digital tokens were integrated into back-office systems and processes for five commercial banks during the second phase of Project...
Last week, Republican Congressman Tom Emmer introduced a bill prohibiting the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals. The proposal contains one single amendment to the Federal Reserve Act, extending section 13 to ban the Federal Reserve from offering...
Making the leap from concept to reality is no easy task for central banks mulling over how and when to launch central bank digital currencies (CBDCs) — or even whether to launch them at all. Building the technology underpinning the CBDC is one thing, replete...
Israeli policymakers have broadened the scope of their research into launching a central bank digital currency (CBDC) as the Bank of Israel scrambles to avoid falling behind other countries. As Bloomberg News reported Thursday (Jan. 13), the bank has begun talking about the risks and...
For central bank digital currencies (CBDCs), pilots, pilots everywhere — and some actual launches, too. It’s no surprise that central banks, increasingly, have been following China’s progress in debuting a digital yuan and have been pivoting toward launching CBDCs of their own. We’re seeing a...
The Economic Affairs Committee at the U.K. House of Lords published a report on January 13 casting doubts about the benefits of creating a retail Central Bank Digital Currency (CBDC) in the U.K. and sending a message to the Bank of England (BoE) that any...
Visa is collaborating with the blockchain software company ConsenSys to launch a central bank digital currency (CBDC) pilot program to test retail applications like cards and wallets, Bloomberg reported on Thursday (Jan. 13). Both companies will first hold talks with an estimated 30 central banks...
Federal Reserve Chairman Jerome Powell said the long-awaited digital currency report will be out “in the coming weeks.” Again. It’s a promise that Powell has made before. Due to be released last summer, Powell on Sept. 22 said the report — which is expected to...
China’s largest messaging app says it will begin accepting the country’s digital yuan. According to media reports Thursday (Jan. 6), Tencent Holdings’ WeChat, which numbers among China’s most popular payments platforms, says it will begin accepting digital yuan payments through WeChat Pay, its digital wallet. ...