BIS Announces 6 New Projects for 2024
The Bank for International Settlements (BIS) 2024 program features six new projects, including initiating a blockchain-based tokenization initiative and entering the second phase of its central bank digital currency (CBDC) privacy testing, cybersecurity, fighting financial crime, and green finance. The BIS released its Annual Work Program on January 23. It includes six new initiatives investigating […]
Emmer Teams Up with Trump in Battle Against CBDCs for Crypto Privacy
Former President Donald Trump and Congressman Tom Emmer have expressed their opposition to Central Bank Digital Currencies (CBDCs) and their impact on financial privacy. They also support a bill that would limit the government’s surveillance powers over digital transactions. In a rare show of agreement, former President Donald Trump and Congressman Tom Emmer, two prominent […]
HSBC to Advance Digital Currency, CBDC Pilots in Hong Kong
The multinational HSBC bank’s Hong Kong branch plans to keep collaborating with the government on projects, including using digital currencies for cross-border payments. HSBC Hong Kong is pushing forward with implementing digital currencies for cross-border payments in collaboration with local authorities. In an interview with the South China Morning Post, HSBC HK CEO Luanne Lim […]
Bank of China Completes First Precious Metal Digital Yuan Settlement
The Shanghai branch of the Bank of China has completed the first settlement of precious metals using the digital yuan. The South China Morning Post claims that the Bank of China, a commercial bank based in Beijing, has completed the first cross-border settlement for trade in precious metals using digital yuan. This means that the […]
Kazakhstan Announces Success of its CBDC Pilot Test
Kazakhstan’s central bank digital currency (CBDC), the digital tenge, has achieved success following a month-long pilot project. After a month-long trial project, Kazakhstan’s central bank digital currency, or CBDC, known as the digital tenge, has been deemed successful. In 2024, many business, legislative, and technological advancements are planned for it. Using the Onay card (originally […]