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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a
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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a
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“A high standard of privacy and data protection is instrumental in gaining citizens’ trust in this new digital currency,” the European Data Protection Board’s Deputy Chair Irene Loizidou Nicolaidou said in a statement, saying she wanted to “ensure that data protection is embedded early on in the design phase of
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Federal Reserve Governor Michelle Bowman recently expressed skepticism about the unique benefits of a U.S. CBDC over other financial alternatives at a Harvard Law School roundtable discussion. During a recent roundtable discussion at Harvard Law School, Federal Reserve Governor Michelle Bowman voiced her skepticism regarding the practicality of a U.S. central
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The Reserve Bank of Australia (RBA) is open to using a central bank digital currency (CBDC) as the future of money, where state-issued digital money would represent a tokenized form of central bank reserves.In a speech titled “A Tokenised Future for the Australian Financial System,” Brad Jones, assistant governor (financial system)
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A Chinese foreign exchange regulator official showed its support for the CBDC development, the digital yuan. Lu Lei, deputy administrator of the State Administration of Foreign Exchange (SAFE), explained to the CNA agency that some of the main features of CBDC could help enhance the effectiveness of monetary policy tools. The official
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Currently, there are nine residents of the park. All of them will get access to ten government initiatives introduced to “boost the development” of the digital yuan ecosystem. The initiatives include payment solutions, smart contracts, hard wallets, and digital yuan promotion. The first industrial park has been opened in the Luohu district
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Mastercard has announced that it has demonstrated a new solution that enables central bank CBDC to be interoperable with different blockchains. The solution, developed in partnership with Cuscal and Mintable, was part of a pilot project conducted by the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre
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The Bank of Russia has announced changes to regulating its central bank digital currency (CBDC), the digital ruble. The central bank will allow foreign banks to open digital ruble accounts from Jan. 1, 2025 to promote cross-border payments and financial inclusion. The digital ruble is a digital form of the national currency
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China opened an industrial park dedicated to developing the digital yuan ecosystem on Oct. 11, according to Chinese press reports. This is the first such park dedicated to the central bank digital currency (CBDC), which is also referred to as the e-CNY.The industrial park is located in the Luohu district
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