G7 nations draft guidelines for a CBDC issuance
The G7, a group of seven industrialized nations, is expected to release guidelines for the creation of central bank digital currencies (CBDC), presently, no CBDC has been issued by any of the G7 countries. According to reports, the proposed rules are made up of 13 sections, with the major focus on transparency and privacy. The […]
Laos government partners with Soramitsu on a CBDC research
Laos has become the latest country to announce research on a central bank digital currency (CBDC), announcing a collaboration with Soramitsu, a Japanese distributed ledger technology (DLT) firm. The project is set to start this month, according to a Sunday article from Nikkei Asia, and follows the signing of a memorandum of understanding between Laos’ […]
Hong Kong is exploring the possibility of a Central Bank Digital Currency
The Hong Kong Monetary Authority (HKMA) launched an official white paper on Monday investigating the possibility of the digital Hong Kong dollar (e-HKD), a retail-focused central bank digital currency (CBDC) . According to the document, the HKMA will look into “potential architectures and design options” from a technical and regulatory policy standpoint, with the goal […]
Nigeria’s eNaira CBDC rollout receives approval from the Federal High Court
The Federal High Court of Nigeria has approved the use of a central bank digital currency (CBDC) as legal tender. eNaira will continue to circulate alongside its fiat counterpart. According to a report by Voice of Nigeria, Nigeria’s CBDC issue clearance was revealed in a federal court hearing on Oct. 2 presided by Justice Taiwo […]
Global CBDC system needs both public and private cooperation – BIS
The Bank for International Settlements (BIS) has published a new joint report stating cooperation between public and private sectors would be vital for a functioning global CBDC system. The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the United States Federal Reserve, Sveriges Riksbank, and the Swiss National […]