Cryptocurrency Analysis and News Portal
The development of a digital yuan, or DECP, has taken a great leap forward, according to the People’s Bank of China, the nation’s central bank.In a statement (in Chinese) Thursday, the bank said the “processes of top-level design, setting industry standards, developing potential functions and integration testing,” were “almost complete.” The
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The central bank of China has completed the top-layer design and joint testing of its soon-to-be-released central bank digital currency (CBDC).As domestic news outlet Sina reported on Jan. 10, People’s Bank of China (PBoC) accomplished the top-layer design of the planned digital yuan, developed relevant standards, carried out research
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The president of the European Central Bank (ECB), Christine Lagarde, supports the bank’s active involvement in the development of a central bank digital currency (CBDC) to address the demand for faster and cheaper cross-border payments.In an interview with French business magazine Challenges published on Jan. 8, Lagarde discussed the
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The Reserve Bank of Australia (RBA) has expressed doubt over whether cryptocurrencies, including Libra and central bank digital currencies (CBDCs), will ever become viable solutions.In a submission (pdf) to the Select Committee on Financial Technology and Regulatory Technology just before Christmas, RBA officials were skeptical that cryptocurrencies, in their current and
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The European Central Bank (ECB) remains open to the idea of a digital euro equivalent but would want to stop citizens holding too much of it. That was the conclusion of a fresh working paper on so-called central bank digital currencies (CBDCs) by Ulrich Bindseil, the bank’s Director General of
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With 2019 vanishing in the rear view mirror, Markets Daily is back for an insightful look into Central Bank Digital Currencies (CBDCs) and the US Dollar's ongoing reserve status.Tune in as CoinDesk podcasts editor Adam B. Levine and senior markets reporter Brad Keoun run down recent action, track interesting longer-term
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After meeting a list of obstacles in an attempt to pass regulations for its ambitious Libra cryptocurrency project, Facebook has been set back in their goal to launch it in 2020. Switzerland’s president, Ueli’ Maurer, has expressed disappointment in the project as Facebook’s team continues its efforts to seek regulatory
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China is expected to be among the world’s first few central banks to roll out a sovereign digital currency to join the US$25.9 trillion e-payment market currently dominated by Alipay, WeChat PayCollaboration between Hong Kong and Thailand is expected to help companies save costs incurred in cross-border paymentsAsia is a
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South Korea’s central bank is organizing a task force to research central bank digital currencies (CDBCs). Announced in a Dec. 26 report titled "Monetary Policy for 2020,” the Bank of Korea will hire experts to study the effects of distributed ledgers, cryptocurrencies and CBDCs on financial settlements and security. The group
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South Korea's central bank, the Bank of Korea (BOK), plans to organize a task force dedicated to central bank digital currency (CBDC) research in the new year.In its “Monetary Policy for 2020” brief, published on Dec. 27, BOK said it would continue to build on its existing research into
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