Florida Governor Ron DeSantis has ban central bank digital currencies (CBDCs) in the state. CBDCs are digital versions of fiat currencies, such as the US dollar, that are issued and backed by a central bank. DeSantis argues that CBDCs could pose a threat to financial privacy and individual freedom. The bill, SB 2004, would prohibit the use of CBDCs in Florida. It would also prohibit the state from participating in any CBDC system. DeSantis has…
In a recent announcement, the Chinese government has revealed that civil servants in Changshu will receive their full salaries in CBDC yuan from May 2023. This move is seen as a significant step towards the adoption of digital currencies in China. CBDC DIGITAL CURRENCY CBDC, or central bank digital currency, is a type of digital currency issued and controlled by the central bank. Unlike cryptocurrencies like Bitcoin, CBDC is backed by the government. The Chinese…
Montenegro’s Central Bank (CBCG) has partnered with Ripple, a blockchain and cryptocurrency solutions provider, to work on the development of the country’s first digital currency. The collaboration aims to create a strategy for the pilot launch of the digital currency. The CBCG’s decision to embrace digital currency is a significant move that highlights the growing popularity of cryptocurrencies and blockchain technology in mainstream finance. This collaboration is expected to open up new opportunities for businesses…
