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Federal Reserve Chairman Jerome Powell has provided an update on the Fed’s central bank digital currency (CBDC) work in a hearing before the House Financial Services Committee. While stating that the Fed is “making progress on technological issues,” Powell stressed that “policy issues are equally important.” Fed Chair Powell on CBDC
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The National Bank of Ukraine (NBU) has expressed a mixed stance on cryptocurrencies like Bitcoin (BTC) after a year of war in the country.The central bank of Ukraine sees both good and bad in virtual assets, taking a more skeptical approach to crypto due to financial and economic issues caused
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Iran is moving forward with its central bank digital currency (CBDC) plans, completing preliminary research for the launch of a potential digital rial.The Central Bank of Iran (CBI) has completed a pre-pilot phase in the development of Iran’s CBDC, according to an official statement by CBI’s research arm, the Monetary
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Growing shortages of foreign exchange on the interbank market have reportedly forced the Central Bank of Kenya to ask financial institutions to ration dollar purchases by Kenyan businesses. The shortages have forced Kenyan firms to seek greenbacks on alternative markets where the exchange rate is higher than the official government
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Central banks show continued demand for gold in 2023, as per a recent report from the World Gold Council (WGC), which noted that the world’s central banks accumulated 31 tons of the precious metal in January. Turkey was the largest gold buyer, adding 23 tons to its central bank’s stash,
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An official of India’s central bank, the Reserve Bank of India (RBI), says that the country’s central bank digital currency (CBDC) will act as an alternative to cryptocurrency. He stressed that the digital rupee must possess all the attributes of physical currency, including anonymity. India’s CBDC Update Reserve Bank of India (RBI)
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The Reserve Bank of Australia has revealed a set of projects that will develop use cases for a digital dollar, the eAUD, during its testing phase, currently underway. Original Source
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Australia's central bank is set to launch a "live pilot" of a Central Bank Digital Currency (CBDC) "in the coming months," according to a joint statement from the Reserve Bank of Australia (RBA) and Digital Finance CRC (DFCRC), an Australian financial research institute.The RBA said on Mar. 2 local
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The G20 finance ministers and central bank governors recognize that cryptocurrencies pose major risks to financial stability, monetary systems, and cyber security, India’s central bank governor reportedly said. Crypto regulation was among the key topics discussed during the G20 meeting over the weekend. G20 Agrees Crypto Poses Major Risks to Financial
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The Central Bank of Jordan is closer to its next step toward a retail central bank digital currency (rCBDC) with the completion of an International Monetary Fund technical report on the country’s markets. The IMF conducted a three-month mission last year to assist the bank with preparations for a CBDC
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