SNEAK PEEK
SEC charges reshape the crypto landscape, raising regulatory concerns. Binance was accused of fund transfers and misleading investors in an SEC lawsuit....
In a speech transcript published earlier this month, the Philippines’ central bank governor announced the rollout of a CBDC project at a joint event that was organized by Bangko Sentral ng Pillipinas (BSP) and the Alliance for Financial Inclusion. According to BSP chief Benjamin Diokno, the project aims to improve “the payment system’s safety, resiliency, […]
The Bank of Jamaica is on track to roll out its central bank digital currency (CBDC) in the first quarter of 2022, a top official at the country’s central bank has revealed. The bank is seeking to increase the number of commercial banks that onboard new users and conduct quality assessments before the rollout. […]
The U.S. Federal Reserve doesn’t know whether it will issue its own central bank digital currency (CBDC) or not, Lael Brainard, Federal Reserve Board Governor, on Friday highlighted several reasons to start developing such a digital currency. Brainard made these comments when delivering a speech at the U.S. Monetary Policy Forum in New York. The […]
A top official from The People’s Bank of China (PBOC) has provided an update on the latest trial of the Chinese central bank digital currency (CBDC) during a webinar arranged by the Atlantic Council Tuesday. The digital yuan, or e-CNY, is currently being tested at the Beijing Winter Olympics, Reuters reported. Two million yuan […]
The International Monetary Fund has said that central bank digital currencies (CBDCs) like eNaira are better options than cryptocurrencies, including Bitcoins and other altcoins. In a new statement, IMF managing director Kristalina Georgieva says that CBDCs are gaining momentum after moving from theoretical to practical explorations. Georgieva stated, “In order to become familiar with the bits […]
Indian finance minister Nirmala Sitharaman on Friday said that it was a “sovereign right” of the central government to impose taxes on cryptocurrency transactions. She replied to the Rajya Sabha on the general discussion on the Union Budget that was presented earlier this month. The Indian finance ministry announced a 30% tax on cryptocurrency transactions which received […]
The European Commission has announced that a bill for a digital euro will be proposed in 2023. As reported by Politico, EC finance chief Mairead McGuinness officially disclosed the EU’s formal consideration of digital euro legislation at a fintech conference on Wednesday. “Our goal is to table legislation in early 2023,” the Commissioner for Financial […]
Kenya joins the growing list of countries that are exploring national digital currency options. The Central Bank of Kenya has said the use of a Central Bank Digital Currency (CBDC) could enhance cross-border payments by making them more efficient and less costly. More and more countries are now exploring a CBDC option. Earlier, the Indian […]
The idea of creating and developing a Central Bank Digital Currency (CBDC) has been ongoing for a long time. Although China officially brought the idea to the fray, many countries have been riding on the ongoing trend. While some are done, others are just brainstorming on how to create their CBDC. One such country is […]
The Federal Reserve Bank of Boston and the Digital Currency Initiative at the Massachusetts Institute of Technology (MIT) released the initial findings of their central bank digital currency (CBDC) research this week. This research is separate from the digital dollar research conducted by the Federal Reserve Board. As reported earlier, the Federal Reserve also recently […]
India will impose a tax of 30% on income from cryptocurrencies and other digital assets, finance minister Nirmala Sitharaman said while presenting the Union budget today. The finance minister also revealed that the country’s central bank will issue a national digital currency in the upcoming year. Industry estimates suggest 15 million to 20 million crypto […]
Presenting the Union Budget 2022-23, Finance Minister Nirmala Sitharaman said that the Reserve Bank of India (RBI) would introduce the digital rupee in 2022. “RBI to issue digital rupee using blockchain technology In FY22-23,” the finance minister said in the parliament. Sitharaman noted, “Digital currency will also lead to a more efficient and cheaper currency […]
