The International Monetary Fund (IMF) has said that central bank digital currencies (CBDCs) could potentially allow a government to control what people spend their hard-earned cash on. Speaking at the IMF-World Bank annual meeting on Oct. 15, Deputy Managing Director Bo Li said that a CBDC could improve “financial inclusion” through programmability. “A CBDC can…
Central Bank Digital Currencies Would Let Governments Control What People Spend Money On: IMF Official
The Case for Central Bank Digital Currencies
August 22, 2022
admin
BrightBusiness & Marketscentral bank digital currenciescentral banksdigital currenciesmonetary policypersonal finance
0 Comment
As the world becomes more digitized and technologically advanced, our monetary system has yet to fully keep up. Money in many ways has already been digitized, with online banking and through online payment platforms, but central banks are pushing to move toward a currency that allows for full control and much more convenience through what…
90 Percent of Nations Planning Central Bank Digital Currencies: Report
Nearly 90 percent of national central banks are planning to launch their own central bank digital currencies (CBDC) to the general public, according to a new report (pdf) from the Bank of International Settlements (BIS). BIS surveyed 81 central banks in fall 2021 regarding their engagement in CBDC work as well as their motivations and their intentions regarding CBDC…
International Bank Develops Prototype for Cross-Border Digital Currency Settlement Platform
March 22, 2022
admin
Bank for International SettlementsBusiness & Economycentral bank digital currencydigital currencieseconomic policiesInternationalMarketsWorld
0 Comment
The Bank for International Settlements (BIS) has developed two prototypes for a shared platform that will allow for international settlements using digital currencies issued by multiple central banks. Code-named “Project Dunbar,” the platform is designed in a way to enable cross-border transactions using different currencies between financial institutions. The solution can potentially reduce the reliance…
Citigroup Sprucing Up Crypto Division With 100 New Hires
Citigroup is going to hire 100 new roles to task its institutional digital assets division that includes blockchain and digital currencies in a push to tap into a sector that has lately been gaining mainstream appeal. The team will be led by Puneet Singhvi, head of blockchain at Citi’s global markets operation. Singhvi will be…
Congress Needs to Provide Guardrails for the Cryptocurrency Revolution
Commentary The Chinese Communist Party poses the most comprehensive 21st-century threat to the American nation, the American people, and the American way of life. The first half of this century will be defined by how the United States meets the Chinese challenge across the full spectrum of economic, national security, geopolitical, and cultural issues. And…
Miners Lament ‘End of An Era’ as China Eradicates Bitcoin
Shortly after Chinese vice premier Liu He stressed the crackdown on Bitcoin mining and trading in May, the provinces of Inner Mongolia, Qinghai, Sichuan, and others began closing off cryptocurrency markets one by one. The authorities also summoned executives from Chinese financial institutions, including many banks and Alipay, instructing them to implement tough regulations. Cryptocurrency…
China’s Nationwide Crackdown on Cryptocurrencies Fails to Block Cross-Border Money Laundering
June 15, 2021
admin
Asia & PacificBusinessChinaChina Business & Economychina money launderingChinese Regimecryptocurrenciesdigital currenciesMarketsWorld
0 Comment
The Chinese Communist Party (CCP) on June 9 launched a nationwide campaign to prevent cross-border money laundering using virtual currencies (cryptocurrencies). This is the fifth time for such action and part of the CCP’s recent efforts to prevent capital flight and guard against financial risks. The People’s Bank of China (PBoC), China’s central bank, said…
PayPal to Buy Israeli Digital Asset Security Provider Curv
PayPal Holdings Inc said on Monday it would buy Israel-based digital asset security provider Curv, as the payments processor looks to strengthen support to cryptocurrencies. The terms of the deal, which is expected to complete in the first half of 2021, were not disclosed. Curv would be part of PayPal’s recently created cryptocurrencies-focused unit. PayPal…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`