ECB Releases First CBDC Progress Report
The ECB’s June 24 update on CBDC development emphasizes privacy with pseudonymization, hashing, and encryption to prevent transaction tracking. In a June 24 update, the European Central Bank (ECB) disclosed its initial progress report on the development of a central bank digital currency (CBDC). The ECB prioritized privacy provisions, pledging to implement pseudonymization, hashing functions, […]
Louisiana Crypto Law Protects Node Operators, Bans CBDC
Louisiana’s revised Blockchain Basics Act, effective August 2024, bans CBDCs and sets rules for miners and node operators while allowing other digital currencies. The state of Louisiana in the United States has altered its legislation to prohibit the use of central bank digital currencies (CBDCs) and establish regulations for node administrators and miners. The revised […]
Swiss Central Bank Extends CBDC Pilot
The digital franc pilot program of the Swiss National Bank is extended for a minimum of two additional years. According to Bloomberg, which quotes SNB governing board member Antoine Martin, the Swiss National Bank (SNB) has chosen to prolong its pilot program for producing a wholesale central bank digital currency (CBDC) until at least 2026. […]
Ethiopia begins CBDC initiative as part of economic reform
Ethiopia’s central bank prepares legal framework for CBDC as part of economic reform. Two proclamations have been formulated by the National Bank of Ethiopia (NBE) as part of an economic reform strategy. One of them is the establishment of a legal framework for the introduction of a central bank digital currency (CBDC). The proclamations have […]
US House Passes CBDC Anti-Surveillance State Act
The House of Representatives decided to keep Congress in charge of any CBDC issuance that occurs now or in the future. The Republican-sponsored CBDC Anti-Surveillance State Act (H.R.5403), which forbids the Federal Reserve from creating or introducing a government-backed digital currency pegged to the dollar, was approved by the U.S. House of Representatives members on […]