G7 leaders establish digital currency guidelines for central banks
This week, the Group of Seven (G7) advanced economies discussed central bank digital currencies (CBDCs), deciding that they should “do no harm” and adhere to strict guidelines. On Oct. 13, G7 finance officials gathered in Washington to discuss central bank digital currencies and adopted 13 public policy guidelines for their deployment. The G7 countries, which […]
Visa is working on a blockchain interoperability project
Visa, one of the world’s largest payments companies, announced a project that aspires to be a network of blockchains, cryptocurrencies, stablecoins, and central bank digital currencies (CBDC). Visa’s research team is working on a “Universal Payment Channel ” (UPC) initiative, a blockchain interoperability hub connecting numerous blockchain networks and enabling transfers of digital assets from […]
Chinese central bank executive on crypto: Crypto adoption is a ‘huge challenge.’
One of the executives at the Chinese central bank has expressed concern that the growing adoption of cryptocurrencies such as Bitcoin (BTC) will pose a significant challenge to the traditional banking system. In spite of local players’ experiments with digital yuan-pegged stablecoins, the People’s Bank of China (PBoC) maintains its anti-crypto position. In a recent […]
HSBC CEO supports CBDCs as opposed to cryptocurrencies and stablecoins
HSBC Group CEO Noel Quinn, believes CBDCs are a transparent legal tender that avoids the “many risks” associated with cryptocurrencies and stablecoins. HSBC, Europe’s largest bank with $3 trillion in assets, is dubious of bitcoin while pushing the creation of central bank digital currencies (CBDCs). New forms of digital money might promote growth, according to […]
Pundits weigh in on the potential implications of Evergrande ‘s bankruptcy
When it comes to the possibility of Chinese real estate behemoth Evergrande defaulting on its $305 billion in debt, pundits are speculating on how the firm’s insolvency would affect the legacy and cryptocurrency markets, respectively. When it comes to Bitcoin mining, Marty Bent , the co-founder of Bitcoin mining firm Great American Mining, is delighted […]