Central Bank

The existing interaction between banks and cryptocurrency companies is not the best so far, and there are little to no efforts being put in place to address this issue. Some central banks are giving orders to other financial institutions not to deal in cryptocurrencies including Bitcoin. Bans and warnings have been issued by banks to keep away from using or trading cryptocurrencies.

The Central bank of Lebanon (BoL) is planning to release its state-backed digital currency known as digital pound. The bank is now the latest financial regulator to embrace the roll out of a central bank digital currency CBDC. The official launch is planned for 2021.

The European Central Bank Governing Council is advancing the work on the possible issuance and circulation of a digital euro, a type of central bank electronic money that would foil cash, not substitute it. Authorities want people to access and use these two types of money together, to offer greater choice and easier access to means of making payments.

Financial inclusion of the globe’s unbanked population has been a sensitive issue for years. With the introduction of cryptocurrency, there have been speculations about its potential to get all these people aboard international finance. But is it really so?

A new token based on the Public Corda network might become a prototype of Central Bank Digital Currency (CBDC) as it was designed and launched within the G20 sanctioned FATF standards.

Global fast-food giants McDonald’s and Starbucks have never been included into the trials of digital yuan. None of the brands confirmed its participation in the testing program.

The digital ruble should become the digital currency of the Russian Central Bank, and have all the necessary to perform the functions of money, stated the regulator in its latest report.

Several countries, including the US and China, are working on their own digital currencies (Central Bank Digital Currency or CBDC). Is this about giving people more freedom over the payments or control over the financial flow? What is in it for the government and its citizens?

It seems the rumours about the launch of digital dollars have been confirmed. The US Federal Reserve has been making actual efforts to launch their Central Bank Digital Currency (CBDC).