Iran Finishes Pre-pilot Stage Of Its CBDC
Iran is making progress with its plans for a CBDC, having finished the necessary research for the future introduction of a digital rial. According to a formal announcement made by the Monetary and Banking Research Institute, the research arm of the Central Bank of Iran (CBI), the pre-pilot stage of developing Iran’s central bank digital […]
BIS completes retail CBDC pilot called Project Icebreaker
The Bank for International Settlements (BIS) has successfully completed a pilot retail CBDC pilot called Project Icebreaker. The central banks of Israel, Norway, and Sweden collaborated on a project with the Bank for International Settlements (BIS) that examined the use cases for CBDCs in international retail and remittance payments. In a report released on March […]
BoJ to launch CBDC pilot in April
The Bank of Japan (BoJ) is set to start its central bank digital currency (CBDC) pilot in April 2023. The trial intends to include commercial companies and explore a CBDC ecosystem model. The Bank of Japan (BoJ) made executive director Shinichi Uchida’s opening remarks at a CBDC committee meeting public on February 17. Uchida said […]
UAE central bank to launch CBDC for Transactions
As the first phase of its financial infrastructure transformation (FIT) program, the Central Bank of the United Arab Emirates (CBUAE) intends to introduce a central bank digital currency (CBDC) for both local and international usage. The CBUAE recently announced the FIT initiative and emphasized its goal of assisting the nation’s financial services industry. The scheme, […]
Kazakhstan will require 75% of crypto mining revenue sales
The president of Kazakhstan, signed a new law that reaffirmed the country’s opposition to illegal mining operations and the issuing of crypto assets. One of the largest Bitcoin (BTC $21,729) mining centres in the world, Kazakhstan, has revealed plans to establish new crypto legislation to cut down on tax fraud and illegal business practices. On […]