The IMF, G20 and BIS Gear Up for the Central Bank Digital Currency Era
New reports on digital currency design principles and regulatory standards show just how quickly the world’s bankers are moving. Source
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IMF, World Bank, G20 Countries to Create Central Bank Digital Currency Rules
International financial authorities and 20 of the world’s largest economies are establishing official standards for regulating and issuing sovereign digital currencies.The Group of Twenty (G20) — an international forum for the governments and central bank governors from 19 countries and the European Union — said in a report today that
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Japan Must Reform Central Bank Laws to Accelerate CBDC Issuance
The Bank of Japan stated that it would start conducting research in the following financial year on how to develop and operate its CBCD.A local government official in Japan has said that the country needs to rapidly amend its central bank laws to allow the Bank of Japan (BOJ) to
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China Should Accelerate Rollout of Digital Yuan, Says Central Bank Official
Chen Yulu, deputy governor of the People's Bank of China, said over the weekend the digital yuan project should be accelerated as an important part of the nation's financial infrastructure. Source
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China’s Central Bank, Major City to Hand Out $1.5M in Digital Yuan
A local report suggests the pilot is an indication the digital yuan is close to being launched. Source
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BIS Partnered with Seven Central Banks to Detail CBDC Expectations
The report indicates that a CBDC should be easily convertible, convenient to all, possess an unmatched security system, have high speed, and should be of legal sound.As the world financial system gets digitized, central banks are tirelessly working on developing and issuing their Central Bank Digital Currency (CBDC) in the
Read MoreCentral banks detail CBDC expectations in massive joint document
With 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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South Korea’s Central Bank to Test Digital Currency With Banks in 2021
Following China's lead, the Bank of Korea is to run circulation trials of a central bank digital currency with assistance from banks. Source
Read MoreSymbol blockchain to host whisky fund and central bank collectibles at launch
Proof-of-stake blockchain NEM (XEM) is preparing for a token migration in December alongside the public launch of the Symbol (XYM) blockchain.Speaking to Cryptox, NEM Group CIO and NEM Ventures managing director, Dave Hodgson, revealed that Symbol will host at least two products at launch.Symbol will host the Wave Financial Whiskey
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China Central Bank Official Reveals Results of First Digital Yuan Pilots
An official for China’s central bank has unveiled usage statistics of state-backed digital currency trials that were conducted in three Chinese cities.Speaking virtually at the Sibos 2020 conference on Monday, Fan Yifei, deputy governor of the People’s Bank of China, said the bank opened 113,300 consumer digital wallets and 8,859
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