The future of the digital euro could be decided next year. But as Bloomberg News reported Sunday (Aug. 18), many people in Europe’s largest economy have already made up their minds about the concept of a central bank digital currency (CBDC). According to that report,...
The Bank of England (BoE) is conducting a new series of experiments with central bank digital currencies (CBDCs) for retail use. Citing growing innovations and risks in the payments industry, BoE said in a Tuesday (July 30) discussion paper that “central banks must be quick to...
The Bank of Israel reportedly plans to wait until another advanced economy launches a central bank digital currency (CBDC) before introducing one of its own. The European Central Bank (ECB) is likely to be the first to do so, “and then you may see a...
The Swiss National Bank is reportedly amenable to expanding its digital currency project. “We would like to see a pilot which develops, with more banks joining and a higher volume of transactions,” said governing board member Antione Martin, whose comments at the the Point Zero...
The technology for central bank digital currencies (CBDCs) already exists. And as dozens of countries around the world have proven, in less time than it took to read this sentence, digital money issued by a sovereign bank can effectively settle in near real-time using distributed...
The U.S. House of Representatives passed a bill Thursday (May 23) that would stop bureaucrats from issuing a central bank digital currency (CBDC) without explicit authorization from Congress. The CBDC Anti-Surveillance State Act (H.R. 5403) passed by a vote of 216 to 192, with 213...
India’s central bank wants its digital currency to be available without internet access. “One of the key features of cash is that it works offline,” Reserve Bank of India (RBI) Governor Shaktikanta Das said at a Monday (May 6) Bank for International Settlements summit. “We are working on making...
Bundesbank’s president said central banks must speed the adoption of digital currency to remain viable. “If you would have asked me 20 years ago if the central bank business model” were “destroyable or not, I would have said no,” Joachim Nagel said on Monday at a Bank...
The Swiss National Bank (SNB) is conducting a pilot project that has used wholesale central bank digital currency (CBDC) and successfully settled four tokenized bond issuances and one secondary market transaction. Project Helvetia III, which was launched in December, is testing tokenized central bank money for wholesale use and...