CBDC

Amidst rapid digitization of the world, central banks are making efforts to keep pace. Nevertheless, while Asian countries such as China have been actively developing its Central BankDigital Currencies, Europe has been cautiously exploring it. But now it seems the continent will see its first CBDC as soon as this week.

The Central Bank of Thailand (BoT) is creating a CBDC prototype called Project Inthanon for the business and corporate sectors.

As the world becomes increasingly digital, more and more people turn their attention to cryptocurrencies. In fear of fiat money being replaced, governments and central banks are looking to create their own digital currency. However, as their plans will be implemented, the world might face a full-scale financial war between centralized and decentralized technologies.

The Bank of Korea established an advisory group to revise the legislative framework before the launch of the digital won. Despite their CBDC will more resemble a digital version of fiat currency, it is obvious that the existing financial legislation should be adjusted to the circulation of a new digital asset.

Who would ever think that coins can be used to halt the spread of diseases? Most of the people used to think that cryptocurrencies are only used for payments and investments purposes.

It has been argued that central bank digital currencies (CBDC) could threaten the existence of commercial banks by eliminating deposits that are the source of loans.

Japanese Deputy Prime Minister and Finance Minister Tarō Asō said he disagrees with the plan to lower the cryptocurrency tax to the same level as stocks. At the meeting of the Finance Committee of the House of Representatives, he stated that there was no intention to lower the cryptocurrency tax rate to 20%.

The International Monetary Fund (IMF), an organization working to secure financial stability globally, has repeatedly expressed its antagonism to the issuance and circulation of the Marshall Islands’ state-run digital money currency.

A research conglomerate involving The Digital Dollar Foundation and Accenture has released a whitepaper clearly outlining how the US Government could smoothly roll out its Central Bank Digital Currency (CBDC), the digital dollar.