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The Central Bank of Montenegro announced on April 11 that it had signed an agreement with Ripple for the development of a strategy and pilot program for a Montenegrin digital currency in the form of a central bank digital currency, or a stablecoin. The country has used the euro as
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As debates on digital currencies persist, several U.S. states are making strides in exploring a gold-backed state digital currency, regulating bitcoin mining, and addressing legal challenges in the cryptocurrency realm. Amid ongoing discussions among notable U.S. politicians regarding central bank digital currencies, Texas is considering a novel approach: a state-level digital
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The topic of central bank digital currencies is in the crossfire of United States politicians, with figures like Ron DeSantis and Ted Cruz trying to prevent them from existing. But what about a statewide digital currency? The first of its kind, a gold-backed state-based digital currency project has appeared in
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Within the next decade, the U.S. dollar will play a much less dominant role than it is today, according to Jeffrey Sachs. The renowned economist listed a few factors for the diminishing status of the greenback such as its use as a political weapon by Washington, the introduction of currencies
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The Bank of England (BoE) is assembling 30 experts to design a central bank digital currency (CBDC). Designing the digital pound According to reports on April 8, the CBDC, dubbed the “Britcoin” or the “digital sterling,” will be a digitized version of the British Pound, the region’s fiat currency. The central bank plans to
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The U.S. Central Bank has issued an update regarding the Federal Reserve’s Fednow project, which is scheduled to commence in July. The Fed has responded to recent criticism of the Fednow service and asserts that the Fednow payment network is “neither a form of currency nor a step toward eliminating
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"A team of 30 seems like quite a significant resource to focus on the digital pound," said Ian Taylor, a board adviser for trade association CryptoUK, according to the newspaper. "It shows the impact it would have, and that the Bank are serious about it." Source
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Two Texas lawmakers have introduced identical bills for creating a state-based digital currency backed by gold, a move that comes despite objections from several United States lawmakers against introducing a central bank digital currency (CBDC).Senator Bryan Hughes introduced Senate Bill 2334 on March 10, with Representative Mark Dorazio introducing House Bill
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Two Republican lawmakers from Texas, senator Bryan Hughes and representative Mark Dorazio, have introduced legislation to create a gold-backed digital currency that could be enacted by the state legislature. The policymakers believe that this currency could greatly benefit the Lone Star State and, as an alternative digital currency, it could
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Crypto miner Sphere 3D has filed a lawsuit against its partner Gryphon Digital Mining after an allegedly spoofing attack led to the irregular transfer of Bitcoin (BTC), according to court documents on April 7. “Today we filed litigation against Gryphon, the custodial management services provider of our blockchain and cryptocurrency-related services,
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