According to Bloomberg, Myanmar’s military is planning to introduce its own digital currency in the region to bolster its economic prosperity.
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The Biden administration is reportedly working on an executive order emphasizing potential economic, regulatory, and national security challenges that cryptocurrencies might pose in the future.
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The U.S. Federal Reserve has taken its first step towards issuing a central bank digital currency (CBDC). And while a digital dollar is still years away even if the Fed decides to move forward with the idea, the prospect of an American CBDC should worry the crypto industry. In its new report, titled “Money and … Read moreThe planned CBDC by the Federal Reserve
Powell says nothing would prevent a well-regulated stablecoin from coexisting with a US CBDC. He also revealed that a much-awaited report on cryptocurrencies was ready for release within weeks. Cryptocurrencies and a US central bank digital currency can coexist, according to comments made by Federal Reserve Chair Jerome Powell. The Fed chair said this when … Read moreCrypto and Fed digital dollar can coexist, says Fed Chair Jerome Powell
The Bank of Mexico took to Twitter to announce their plans to launch a central bank digital currency (CBDC) by 2024. The announcement stated that the Banxico (Bank of Mexico) will have its own CBDC in circulation by 2024 as it considers “these technologies and state-of-art payments infrastructure as options of great value.” El @Banxico … Read moreBank of Mexico planning to launch CBDC by 2024
ConsenSys, a leading analytics platform, has announced its partnership with Mastercard to aid in the rollout of ConsenSys Rollups. These rollups will offer enterprise-grade scalability to financial institutions and other users seeking scalability. ConsenSys will be tapping into the high level of expertise the Mastercard engineering team offers to develop the ConsenSys Rollups solution. Bringing … Read moreMastercard and ConsenSys launch ConsenSys Rollups for EVM blockchains
The top cryptocurrencies grabbed headlines this week following a market-wide market tumble that saw over $250 billion wiped off the sector Bitcoin slid below $60,000 early on Tuesday and despites effort to bounce back, the crypto coin continued bleeding and is now trading around $58,000. Ether followed a similar path dropping to around $4,200. Both … Read moreWeekly Report: India looking to transform its crypto sector, potential CBDC trial run on the way
Through central banking, the U.S. government has already demonstrated it has access to infinity money printing. If it launches a CBDC – central bank digital currency – what would that mean for the value of crypto assets? Why Would a Digital Dollar Be Useful? Have you ever wondered why you can make bank transfers via … Read moreDo crypto holders need to fear the digital dollar?
Offline capabilities are crucial in order to ensure that access to the E-Cedi is not hampered by power or internet barriers Ghana is looking to incorporate offline functionalities in its central bank digital currency (CBDC), the E-Cedi, in order to improve its accessibility to all sections of the society and promote financial inclusion in the … Read moreGhana’s smart cards to enable offline functionality for E-Cedi
The project, a collaboration between the Visa research and product teams, has been in development since 2018, when the underlying concept first came about Visa announced on Thursday that it had developed a conceptual protocol for the interoperability of digital assets. The latest advances confirm that the company is charting a path towards creating an … Read moreVisa working on interoperability hub for digital assets payments
Bhutan’s central bank, the Royal Monetary Authority (RMA), has partnered with Ripple to use its infrastructure to pilot a central bank digital currency. According to an announcement from Ripple, the move is set to expand the country’s financial inclusion efforts and extend its commitment to sustainability as it aims to become the only carbon-negative country … Read moreRipple (XRP) to partner with the Royal Monetary Authority of Bhutan for CBDC development
The Nigerian digital currency will officially launch on 1 October 2021 Nigeria’s digital currency project is set to benefit from collaboration with Bitt, the country’s Central Bank announced on Monday. According to the press release, the Barbados-based Bitt will provide technical assistance as the Central Bank of Nigeria (CBN) moves to finalise the launch of … Read moreNigeria partners Barbados-based Bitt on the ‘eNaira’ project