China FX Regulator Supports CBDC Amid Monetary Policy
An official from China’s foreign exchange regulator expressed support for the digital yuan initiative of the CBDC. Some of the key characteristics of CBDC, according to Lu Lei, deputy administrator of the State Administration of Foreign Exchange (SAFE), might assist in improving the efficacy of monetary policy tools, she told the CNA agency. The source […]
Bank of Russia to Support CBDC Development
The digital ruble, the central bank’s digital currency (CBDC), is now subject to new rules, according to the Bank of Russia. To encourage international payments and financial inclusion, the central bank will let foreign institutions open digital ruble accounts as of January 1, 2025. The national currency will coexist with cash and non-cash rubles in […]
China Opens Industrial Park for Digital Yuan CBDC Development
In the Jiangsu province of Nanjing, China has opened its first industrial park devoted to creating and utilizing the digital yuan, or e-CNY. The park, which has a 10 square kilometer footprint, seeks to draw over 100 businesses and organizations involved in the blockchain, big data, artificial intelligence, cloud computing, and financial technology sectors. The […]
Argentine Central Banker Says CBDC Will Boost Tax Collection
Juan Agustín D’Attellis Noguera openly supported Sergio Massa’s advocacy for a central bank digital currency as an economic remedy. Juan Agustín D’Attellis Noguera, a director of Banco Central de la República Argentina, the country’s central bank, supported the Minister of Economy Sergio Massa’s advocacy of central bank digital currency (CBDC) as a solution for the […]
Bank of Korea to Launch Infrastructure Pilot for CBDC
Private banks and public institutions will participate in the pilot, and the Bank for International Settlements (BIS) will provide technical support. South Korea researches central bank digital currencies (CBDCs) alongside an increasing number of countries. The Bank of Korea (BOK) will initiate a pilot initiative to investigate the technical infrastructure for a digital currency. The […]