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Cryptocurrency is an alternative to sovereign currencies that are issued by state governments, but national digital currencies are not so far away from being launched.
Leaders from different corners of the crypto industry react to the sudden prospect of a digital dollar, highlighting both promise and peril for users.
In the face of a global market crash and impending recession, the US government is stepping in with relief measures to support individuals and businesses financially. The House Democrats submitted a draft stimulus bill on March 22 which included the proposal of distributing a digital USD to ‘qualified individuals’ via digital wallets equivalent to a digital voucher.
The issuance of central bank digital currencies (CBDCs) has been gaining traction as various nations have shown interest. The People’s Bank of China (PBoC), China’s central bank, has finished the d
People' Bank of China, the nation's central bank, is reportedly inching closer to issuing a national digital currency.
This probably should come as no surprise. As the economy dives and the Coronavirus spreads across the US, elected officials in Washington, DC struggle to agree on a relief package. It has been reported that Republicans and Democrats had come to terms on a bailout
Chinese payments platform Alipay has revealed more details of its role in China’s upcoming CBDC ecosystem through a series of patents released over the past month.
The Bank of China has completed the basic function development of a digital Yuan and it has moved one step closer to launch its CBDC during a middle of global recession.
Tao Zhang, deputy managing director of the International Monetary Fund (IMF), acknowledges the tremendous promise that CBDCs hold and challenges lying ahead.
International Monetary Fund leader, Tao Zhang, discussed the positives and negatives of a central bank digital currency.
In an exclusive interview with CT, a senior member of the Japanese government discusses the urgent need to implement a digital yen.
Seychelles-registered BitMex crypto exchange’s content and research arm, BitMex Research, released a report on the economic impacts of central bank digital currencies (CBDCs) with some selected countries highlighted as use cases, such as Sweden and Ecuador. Most central banks in the world, if not all, are considering CBDCs, with some banks forging ahead with pilot programs as some others proceed with greater caution by forming CBDC research teams in the initial phases.
The CBDC race has long been on, and some countries might finish sooner rather than later.
BitMEX Research suggests that the issuance of the CBDC will lead to inflation as cash will be banned.
Sweden’s central bank wants to join Switzerland, Singapore and Hong Kong in hosting the BIS innovation hub.