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The Saudi Central Bank (SAMA) is ramping up its research into Central Bank Digital Currencies (CBDCs) but is yet to announce a deployment.In a Jan. 23 bulletin, the bank stated it was working on a phase of a project that “focuses on domestic wholesale CBDC use cases in collaboration with
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The Digital Dollar Project (DDP) released a new version of its white paper "Exploring a U.S. CBDC" on Jan. 18. The project expanded the paper in order to examine central bank digital currency projects internationally, though its focus is still on the United States.The DDP introduced its “champion model” of an intermediated wholesale
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Previously, the Chinese CBDC has been subjected to a series of retail trials in some of its most technologically advanced regions including but not limited to Shanghai and Suzhou.As the most advanced economy with an active Central Bank Digital Currency (CBDC) in circulation, China’s Digital Yuan (e-CNY) is now gaining
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After months of research, the Tanzanian central bank announced recently that it had chosen a more cautious and risk-based approach towards the adoption of its central bank digital currency (CBDC). During the research phase, the central bank said it paid particular attention “to risks and controls associated with issuance, distribution,
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Tanzania's central bank says it is still considering the introduction of a central bank digital currency (CBDC) but will be a taking "phased, cautious and risk based approach" after identifying several challenges that could impact its implementation.According to a Jan. 14 public notice from The Bank of Tanzania, since its
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The Massachusetts Institute of Technology (MIT) Digital Currency Initiative (DCI) and associated organizations marshaled a sizable team of researchers in four low- and middle-income countries — India, Indonesia, Nigeria and Mexico — to study inclusion issues related to retail central bank digital currency (CBDC) design. They released the results of
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Economists at the Bank of International Settlements (BIS) took a look at the risks inherent in the crypto ecosystem and came up with a seemingly novel solution. “Develop an alternative,” they advised in a bulletin released on Jan. 12. What they had in mind was central bank digital currency (CBDC). The
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The United Kingdom remains committed to becoming a world crypto industry hub in spite of the recent negative events that have occurred on the market. It is “the sector I have dedicated the most time to,” Member of Parliament and HM Treasury Economic Secretary Andrew Griffith told a meeting of
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Russia’s central bank is reportedly set to begin developing a cross-border settlement system using its Central Bank Digital Currency (CBDC) amid ongoing sanctions in response to its invasion of Ukraine.The plans to move forward with Russia’s digital ruble are expected to come in the first quarter of 2023 and will
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The Mexican central bank digital currency (CBDC), the digital peso, is unlikely to be ready by 2024, as was announced back in 2021 by the Mexican government. In a statement, representatives from Banxico, the central bank of Mexico, stated the development of the currency was still in its initial stages,
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