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The ECB executive called the European Union’s Markets in Crypto Assets (MiCA) an important step.Fabio Panetta, the executive board member of the European Central Bank (ECB), recently published a pushing forward the need for developing a central bank digital currency (CBDC). As per the previous reports, the ECB has been
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European Central Bank (ECB) executive board member Fabio Panetta, a vocal supporter of central bank digital currency (CBDC) and skeptic of cryptocurrency, presented his latest argument for the former on Jan. 5. Writing on the official ECB blog, he said that by developing CBDCs, central banks “will safeguard the trust on
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Hong Kong authorities are looking for new designs for a central bank digital currency (CBDC), now proposing to issue a CBDC in the form of a stablecoin backed by the government.Wu Jiezhuang, a member of the Legislative Council of the Hong Kong Special Administrative Region, believes that turning the Hong
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Companies that applied to win over the $244,000 contract to develop a central bank digital currency (CBDC) wallet proof-of-concept (PoC) for the Bank of England (BOE) provided questions about the project. In response, the central bank published its answers to over 70 questions. On Dec. 9, the BOE opened applications asking
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When it comes to the “crypto” part of cryptocurrencies, David Chaum’s work predates the crypto ecosystem. His efforts as a renowned cryptographer date back to 1989, long before Bitcoin (BTC) was a thing. Chaum developed the protocols that act as the basis of DigiCash — the world’s first digital currency secured
Read MoreChina’s central bank, the People’s Bank of China (PBOC), published a draft law this Friday that aims to provide regulatory framework and legitimacy for a forthcoming central bank digital currency (CBDC), the digital yuan. The draft law states that the yuan is the official currency of the People's Republic of China
Read MoreThe Central Bank of the Bahamas has announced the country’s “Sand Dollar” — a state-backed virtual currency — is now available nationwide.According to an Oct. 20 Facebook post from Project Sand Dollar, the central bank digital currency (CBDC) became available to all 393,000 residents of The Bahamas from roughly 10:00
Read MoreThe United States will not be issuing a digital dollar until the Federal Reserve resolves all questions around a potential central bank digital currency, or CBDC, according to the Fed's chairman, Jerome Powell.Powell claimed that he is not worried about other countries having a first-mover advantage when it comes to
Read MoreWith Central Bank Digital Currencies a point of focus across the globe, a number of countries' banking authorities have jointly produced a document discussing the currency type at length. The Bank for International Settlements told Cointelgraph in a statement that a group of seven central banks and the BIS had collaborated
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