The European Central Bank has just announced that it has reached the investigative stage of its digital euro project. If successful, the European Union would be the largest economic bloc to implement a Central Bank Digital Currency (CBDC) project. The progress made by the European Central Bank is a step towards a "CBDC era".
The Australian government is working its way from traditional to blockchain technology. The Morrison government keeps pouring funds into blockchain research. On July 13, it announced fresh funding of AU $5.6 million, about $4.2 million to support the two mega blockchain pilot projects that will put Australia on the path to blockchain development.
The President of the Republic El Salvador is the first president in the world to show such high-level support for cryptocurrencies. He will soon make Bitcoin legal in his country. Even then, crypto users in El Salvador may need to be careful with their personal data.
The legality of cryptocurrencies varies from territory to territory. The UK especially leans towards crypto mining and trading as well as blockchain development but will get under the skin of illegal miners.
This decade has witnessed a high wave of central banks wanting to make digital versions of their fiat money, also called the Central Bank Digital Currency (CBDC) following the success of cryptocurrencies. Thailand just announced it would be unveiling its own CBDC next year. What shape does the race take after then?