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As per the Bank of Korea, citizens will only be able to use digital won to buy selected goods. South Korea is gearing up to launch its first pilot of a central bank digital currency (CBDC) with 100,000 citizens in late 2024, the South China Morning Post reports. The pilot, which is
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The Bank of Korea will be looking to use the pilot stage of its CBDC to determine things such as acceptability and ease of use. South Korea, through its apex bank – The Bank of Korea (BOK) – has revealed its plans to begin testing its central bank digital currency (CBDC)
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The project will see 100,000 people - roughly 0.2% of the country's population - be able to purchase goods with tokens issued by commercial banks in the form of CBDC. Use will be restricted to purchasing goods, with other uses such as remittance not permitted. Source
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The Bank of Korea (BOK) — South Korea’s central bank — has said it will invite 100,000 Korean citizens to purchase goods with deposit tokens as part of its central bank digital currency (CBDC) pilot. The testing will start “around September to October” of 2024 and last for three months. According
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A collective of local leaders in the cryptocurrency space, including Cryptox, 42Studio, MarketAcross, Collider Ventures, CryptoJungle, Nilos, Blockchain B7, Efficient Frontier, Ironblocks, the Israel Blockchain Association and Bits of Gold, have joined together to establish Crypto Aid Israel, a global fundraiser to help displaced Israeli citizens in need of humanitarian
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Bulgarian decentralized lending platform Nexo has unveiled a crypto-powered debit and credit Mastercard for citizens of the European Economic Area (EEA).According to the Aug. 31 announcement, the Nexo Card will allow users to spend their euro, U.S. dollar, and British pound stablecoins via debit transactions at over 100 million merchant
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The US-based crypto exchange is now officially available for Canadian citizens. Coinbase, the trading platform previously only available in the US, has announced its launch in Canada today, on Aug. 14. The company said it is
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Brazilian Congress is pushing forward legislation allowing for the taxation of crypto assets held abroad by citizens of the South American country. According to the local press, Brazilian lawmakers on Aug. 11 approved amendments to a
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Bank of Canada conducted research to understand how citizens would behave in a hypothetical cashless environment toward CBDC. The research paper analyzes the role of CBDC in the potential cashless scenario. The report showed that most
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied US economics professor Eswar Prasad has said that governments can program central bank digital currencies (CBDCs) to restrict purchases made by citizens. Speaking at a June World Economic Forum (WEF) event, Cornell University professor Eswar Prasad opined
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