As soon as this week, the Federal Reserve could begin weighing the possible risks and benefits of issuing a U.S. digital currency, according to a Monday (Oct. 4) report from The Wall Street Journal (WSJ). With federal officials being split on the issue, it could...
In the United States, there will be no ban on cryptocurrencies — but one wonders what will become of central bank digital currencies, in particular the digital dollar, when (perhaps if) they are introduced into what will undoubtedly be a crowded field of digital currency...
The Reserve Bank of New Zealand (RBNZ) released two issues papers on Thursday (Sept. 30) that outline the central bank’s thoughts about the pros and cons of circulating a central bank digital currency (CBDC), and is seeking public input before crafting a more specific blueprint....
The Bank of England has staffed two third-party working groups, which will provide input as the central bank looks into a central bank digital currency (CBDC), The Block reported. The groups are the Engagement Forum and the Technology Forum. Members of the groups include people...
In the sweeping, global push to bring central bank digital currencies (CBDCs) from concept into reality, the smaller nations are making the biggest splashes. Their launches, and successes and failures, will be instructive for economic powerhouses such as the United States and China. China, of...
The main website for Nigeria’s central bank digital currency (CBDC) has gone live, indicating that the launch of the eNaira digital currency is on track for Oct. 1. Read more: Nigeria’s Central Bank Preps for Launch of eNaira Digital Currency Last month, the Central Bank of...
Central bank digital currencies (CBDCs) can dramatically reduce the time needed for cross-border payments to clear from days to mere seconds, while cutting costs in half, according to a Tuesday (Sept. 28) report from Reuters. The Bank of International Settlements’ (BIS) exploratory effort aimed at...
The official website of the Central Bank of Nigeria (CBN) digital currency is live, Nigerian publication THISDAY reported. Called the eNaira, the currency is slated to launch in a week. The site had more than 1 million hits in 24 hours, according to stats from...
New blood, as they say, shakes things up a bit. But what happens when the shaking up of things rattles the very foundations of financial services and the way banking operates? President Joe Biden late last week nominated Cornell University Law School professor Saule Omarova...
