Bank Of Russia To Conduct Digital Ruble Settlements In 2023
The governor of Russia’s central bank announced this week that the country’s first digital ruble settlements will take place next year. This new currency will be critical to Russia’s ability to withstand sanctions, an official told Russian lawmakers. According to the Ministry of Finance’s approved Financial Market Development Strategy, the full launch of the digital […]
South African Reserve Bank completes technical PoC for implementing its CBDC
The South African Reserve Bank (SARB) has completed a technical proof-of-concept (PoC) initiative, further work would be taken to study the findings from the project and then used to establish its central bank digital currency (CBDC). Project Khokha 2 (PK2) is the follow-up to SARB’s Project Khokha (PK1), which was launched in 2018. It used […]
Bank of England partners with MIT on CBDC research project
The Bank of England has signed an agreement on a 12-month Central Bank Digital Currency (CBDC) research project with the Massachusetts Institute of Technology (MIT) Media Lab Digital Currency Initiative. The new project, according to the bank, is just for research reasons and will not result in the development of an operational CBDC . The […]
Central Bank of Singapore, Cambodia explore CBDC option
According to a panel discussion at the China Conference on Thursday, the central banks of Singapore and Cambodia are considering central bank digital currencies (CBDCs) as options for e-commerce and digital payments. Representatives from Singapore and Cambodia’s central banks have expressed interest in central bank digital currencies at a panel discussion at the China Conference: […]
United States Should Avoid Competition With China’s CBDC Surveillance Tools To Prevent A ‘Totalitarian Nightmare’—Jake Chervinsky
“We will not compete with China, which is an authoritarian dictatorship, by acting like an authoritarian dictatorship,” Jake Chervinsky stated. In its future introduction of a central bank digital currency, or CBDC, the United States should be careful to prevent a “totalitarian nightmare,” according to Jake Chervinsky, head of policy at crypto advocacy group the […]