Brazil’s CBDC Functionality to Allow Central Bank to Manage User Funds
Pedro Magalhes, a blockchain developer, claims to have successfully reverse-engineered the code of the Brazilian central bank’s test digital currency (CBDC). He identified the capabilities that allow a centralized authority to freeze funds or lower balances. Although there have been questions about these capabilities, the developer contends that there may be circumstances in which they […]
Digital Rouble Bill Passes Parliament In Russia
The lower chamber of the Russian parliament, Gosduma, passed the “digital rouble” bill in its third reading on July 11. The document must now be confirmed by the superior chamber and signed by the President. The law, whose draft was most recently revised at the end of June, establishes the legal definitions of “platform,” “participants,” […]
Ripple Receives Rare Award for CBDC Innovation
Currency Research has recognized Ripple Labs for its contribution to advancing digital currency and the best sustainability initiative. A rare award has been given to American blockchain payments company Ripple Labs Inc. for supporting Central Bank Digital Currency (CBDC) innovation. Antony Welfare, the CBDC Advisor for Ripple Labs, announced on his official Twitter account that […]
India Fosters Global Cross-Border Payments for Digital Rupee
The Reserve Bank of India (RBI) is on course to expand the frontiers of its Central Bank Digital Currency (CBDC), the “digital rupee”. The Reserve Bank of India (RBI) is presently in talks with counterparts from at least 18 other nations on the potential for cross-border payments using its Central Bank Digital Currency (CBDC), the […]
DBS enables e-CNY Payments for Businesses In China
DBS Bank has launched an e-CNY merchant collection solution for its corporate clients in China, enabling them to receive payments in the country’s digital currency. The bank has also completed its first e-CNY transaction for a catering company in Shenzhen. DBS Bank, one of the leading banks in Singapore and Asia, has announced that it […]