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President of the Minneapolis Federal Reserve Bank Neel Kashkari participated in a fireside chat at the Minnesota Transportation Conference & Expo on May 15. While he spoke mostly about topics unrelated to cryptocurrency and blockchain, he gave a blunt assessment of central bank digital currency (CBDC) during the Q&A after
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Samsung and BOK will continue to explore new ways of developing a CBDC ecosystem and leverage the NFC technology to power offline CBDC payments. The latest development in the crypto space is that South Korean tech giant Samsung Electronics has decided to work with the central bank – Bank of
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Tech giant Samsung Electronics has reportedly partnered with South Korea’s central bank to conduct research on central bank digital currency (CBDC) for offline payments.On May 15, the Bank of Korea (BOK) and Samsung signed a memorandum of understanding (MoU) for research on offline CBDCs, according to local media KBS World.
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Florida Governor Ron DeSantis signed a bill restricting the use of central bank digital currencies (CBDCs) in the state, according to local news sources. The governor urged state lawmakers in March to draft the bill. The new law prohibits the use of a United States federal CBDC “as money within Florida’s
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The Bank for International Settlements (BIS) is actively exploring opportunities for offline payments involving a central bank digital currency, or CBDC.On May 11, the BIS Innovation Hub Nordic Centre published a comprehensive handbook exploring how CBDCs could work for offline payments.The guide is written in collaboration with technical consultancy Consult
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The House of Representatives of North Carolina has passed legislation to ban payments to the state using a central bank digital currency (CBDC). North Carolina passes legislation against CBDC use House Bill 690 was passed unanimously on May
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What all of that research has revealed is … complicated. There are legitimate risks associated with CBDCs, and theoretical impacts that could reshape the financial sector as we know it. A “retail” CBDC, for instance, essentially a checking account kept at the Federal Reserve that any U.S. resident would be
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The House of Representatives for North Carolina has unanimously passed legislation aimed at prohibiting payments to the U.S. state using a central bank digital currency, or CBDC.In a May 3 vote, 118 members of the state’s legislative body agreed to pass House Bill 690, with only two representatives absent and
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Florida governor Ron DeSantis reiterated his call for a ban on central bank digital currencies (CBDCs) during a visit to Jacksonville on Tuesday. Last March, DeSantis pushed for legislation to prohibit a CBDC in Florida. At Tuesday’s event called “Government of Laws, Not Woke Politics,” he stated that if the
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China is expanding the use cases for its central bank digital currency (CBDC) called digital yuan or e-CNY for its Belt and Road initiative and cross-border trades. The digital yuan a.k.a. digital RMB was one of the first CBDCs to be developed and widely tested. While there hasn’t been an
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