Bookmarking Crypto Insights
Auto Added by WPeMatico
Trials of the digital yuan have produced disappointing results, according to a report quoting the former head of research at the Chinese central bank. The new form of national fiat has brought no benefits to the banks and should expand beyond being employed only as a substitute for cash, the banker believes. Common People Used … Read more
The governor of India’s central bank, the Reserve Bank of India (RBI), has warned that the next financial crisis will come from cryptocurrencies, like bitcoin and ether. The central bank chief added that cryptocurrencies pose “huge inherent risks” to India’s macroeconomic and financial stability. Indian Central Bank Warns About Crypto Causing the Next Financial Crisis … Read more
Reserve Bank of India Governor Shaktikanta Das warned that if crypto becomes regulated and is allowed to grow, it could cause the next financial meltdown. Go to Source Powered by WPeMatico
Financial authorities in Hong Kong have unveiled a prototype of the Chinese autonomous territory’s own central bank digital currency called Project Aurum. The two-tier platform features a wholesale interbank and a retail e-wallet system, participants revealed. Hong Kong to Issue Retail Tokens and Stablecoins as Part of Project Aurum A collaboration between the BIS Innovation … Read more
“For CBDCs, our solution will enable central banks to connect their own networks simply and directly to all the other payments systems in the world through a single gateway,” said chief information officer Tom Zschach. Go to Source Powered by WPeMatico
The monetary authorities of four jurisdictions in Asia have carried out tests with international settlements using state-issued digital currencies. Cross-border payments and foreign exchange transactions totaling over $22 million were made as part of the pilot project with the participation of the Bank for International Settlements. Asian Central Banks Pilot Real-Value International Settlements With Digital … Read more
The paper’s authors say Central Bank Digital Currencies are problematic for the future of individual and economic freedom but crypto is a viable alternative. Go to Source Powered by WPeMatico
The comments come as Layah Heilpern believes CBDCs will give rise to government enforced censorship which will prevent residents from transacting how they wish. Go to Source Powered by WPeMatico
The monetary authority in Australia is beginning research into the potential economic benefits of issuing a central bank digital currency. Within the project, the regulator hopes to identify use cases and intends to develop a limited-scale pilot. Central Bank of Australia Working on Digital Currency Program The Reserve Bank of Australia (RBA) announced the launch … Read more
The central bank of Indonesia is working to issue a wholesale digital rupiah. The new currency is meant to be the only legal tender for digital transactions in the country while the regulator also wants to ensure that it will be exchangeable across borders. Digital Rupiah Concept Expected by Year End Indonesia’s monetary authority is … Read more
