Saturday, November 23, 2024
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CBDCs are coming. Privately created stablecoins need to come faster

Monetary authorities are finally taking crypto seriously – perhaps too seriously.The idea of fiat currency is something of a historical anomaly. Around 5,000 years ago, shiny metals became a store of value for goods and services. Those were soon fabricated into standardized tokens, becoming media of exchange. It wasn’t for

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Retail-focused Singaporean CBDC to hedge against privately issued stablecoins

Singaporean central bank Monetary Authority of Singapore (MAS) has ramped up efforts to research and develop a central bank digital currency (CBDC) for retail use under the Project Orchid initiative. According to MAS managing director Ravi Menon, Singapore’s retail CBDC will be developed in partnership with private entities, which “would be

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Bitcoin Is Privately Issued Crypto With Substantial Risks, Inadvisable as Legal Tender – Regulation Bitcoin News

The International Monetary Fund (IMF) says that crypto assets, like bitcoin, are privately issued with substantial risks, and “Making them equivalent to a national currency is an inadvisable shortcut.” The crypto community disagrees. IMF Claims Bitcoin Is Privately Issued Crypto With Substantial Risks, Inadvisable for Use as Legal Tender The International Monetary

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