Anti-CBDC Bill Passes House Financial Services Committee
The CBDC Anti-Surveillance State Act, which aims to prevent “unelected bureaucrats in Washington” from issuing a central bank digital currency (CBDC), has passed the House Financial Services Committee. The bill’s author, Representative Tom Emmer, issued a press release on September 20 stating that the CBDC Anti-Surveillance State Act was passed out of committee and reported […]
Reserve Bank of India: Shaping the Digital Rupee Landscape
According to sources cited by Reuters, the Reserve Bank of India (RBI) is collaborating with banks to introduce innovative features intended to promote the digital rupee. These enhancements encompass several vital developments. Firstly, they involve facilitating offline digital rupee transactions and seamlessly integrating e-rupees into India’s widely utilized Unified Payments Interface (UPI). The UPI is […]
CBDCs Will Displace Private Banks – Russian Lawmaker
According to a Russian lawmaker, central bank digital currencies (CBDCs) and blockchain technology will likely displace traditional institutions. RIA reported that Anatoly Aksakov, chairman of Russia’s parliamentary financial committee and a prominent Bitcoin skeptic, has predicted that the traditional banking system will “fade away” by adopting the digital ruble. “I believe the role of banks […]
Bank of China Mandates Retail Digital Yuan Payments
Using QR codes, e-commerce platforms now have the potential to include Central Bank Digital Currencies (CBDC) into their own operating systems in the near future. Changchun Mu, the Director of the Digital Currency Research Institute of the People’s Bank of China, emphasized in a speech delivered on September 3 that as China’s central bank digital […]
Citi Survey Shows CBDCs offer faster Payment Settlements
According to a Citi survey, most securities firms are considering central bank digital currencies (CBDCs) because it might shorten local financial settlement cycles in the next five years. The most recent edition of Citi’s Securities Services Evolution white paper highlighted India’s recent transition to T+1 settlements, which ensures that all trade-related payments are finalized within […]