Central Bank Digital Currencies

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City Council of Lebrija Establishes Elio Cryptocurrency Pegged toThe Euro

Spain: City Council of Lebrija Launches Euro-Pegged “Elio” Cryptocurrency

December 30, 2020 by Wayne Jones at Regulation

Lebrija city, municipality of Spain located in Andalusia's autonomous community, has introduced a cryptocurrency named Elio pegged with Euro. The move will support local transactions among residents and merchants. A Fruitful Adoption of Elio In Madrid, Europa Press, a news agency, said Elio cryptocurrency would empower the City Council of...

Cambodia Looking to Capitalize on Blockchain Solutions at ASEAN Summit

Cambodia’s Project Bakong CBDC Set for Roll Out in the Next Few Months

July 28, 2020 by Osato Avan-Nomayo at Regulation

Cambodia’s central bank is getting set to launch the country’s central bank digital currency (CBDC) in conjunction with almost a dozen commercial banks. APAC nations continue to develop sovereign digital currencies mainly to challenge U.S. Dollar (USD) within their economies and keep up with China’s accelerated progress in the emerging...

Japanese Government to Consider CBDC in Economic and Fiscal Policy

July 15, 2020 by Anthonia Isichei at Regulation

The Japanese government is looking to include a central bank digital currency (CBDC) in its 2020 economic and fiscal policy framework. Japan to Collaborate with the U.S. and Europe on Digital Yen According to a report by Nikkei on Tuesday (July 14, 2020), the Japanese government is considering discussions on...

Chinese Transportation Giant Didi Chuxing to Trial DCEP

Chinese Central Bank Partners with E-commerce Giant for CBDC Test

July 15, 2020 by Osato Avan-Nomayo at Regulation

Chinese food delivery and e-commerce giant Meituan Dianping is the latest establishment to trial China’s digital currency electronic payment (DCEP) project; the country’s planned central bank digital currency (CBDC). More Testing for China’s DCEP According to Bloomberg, China’s central bank plans to trial its virtual currency with Beijing-based food delivery...

Bank of Korea launches legal advisory panel for digital currency

South Korea Set Up Committee to Study Regulatory Obstacles for Potential CBDC Project

June 15, 2020 by Anthonia Isichei at Regulation

South Korea’s central bank, the Bank of Korea (BOK) has set up a legal advisory committee that will look into any possible regulatory roadblocks when issuing its planned central bank digital currency (CBDC). Bank of Korea Continues to Forge Ahead With CBDC Plans According to The Korea Times on Monday...

China’s Central Bank Promotes Blockchain Utility

China: Central Bank Inching Closer to CBDC Issuance

March 24, 2020 by Osato Avan-Nomayo at Regulation

China has reportedly made significant progress with the basic functions of its proposed central bank digital currency (CBDC) based on patent filings submitted by Chinese fintech giant Alipay. Beijing Inching Closer to CBDC Issuance According to the Global Times, Alipay filed five patents related to its work on China’s planned...

Algorand and SFB to Power Marshall Islands Central Bank Digital Currency

March 3, 2020 by Osato Avan-Nomayo at Regulation

SFB Technologies, a full-cycle digital agency focused on blockchain development has announced that Alogorand’s blockchain protocol will be used to develop the national digital currency of the Marshall Islands dubbed Marshallese Sovereign (SOV). Marshallese Government Targets World’s First CBDC According to an announcement issued by blockchain developer SFB Technologies, work...

Bank of England Executive Supports Calls for CBDC Issuance

February 24, 2020 by Osato Avan-Nomayo at Regulation

Sarah John, chief cashier of the Bank of England (BoE) says governments should seriously consider creating central bank digital currencies (CBDC) as a countermeasure to private crypto projects. Central Banks Need to Dominate Digital Currency Space Speaking to the Telegraph, John highlighted the need for central banks to consider CBDC...

Bank of Japan Studying Digital Currencies, Says Governor

Japan’s Finance Minister Sounds China CBDC Warning

February 24, 2020 by Osato Avan-Nomayo at Regulation

Taro Aso, Japan's Finance Minister has voiced his reservations concerning China’s plans to issue its central bank digital currency (CBDC) - the digital yuan. Aso told fellow finance chiefs at the G-20 summit that Beijing’s state-backed crypto could negatively upset the balance of the global economy. Tokyo Concerned About China’s...

Digital Yen: Japan May Launch CBDC in Three Years

February 10, 2020 by Osato Avan-Nomayo at Regulation

A senior lawmaker of Japan’s ruling party has advised the government to include plans for its central bank digital currency (CBDC) in its mid-year policy guidelines and look to launch its digital yen in two to three years. Japanese Lawmakers Angling for CBDC According to Reuters, the head of the...

Japan Looking to Push CBDC Agenda at G7 Summit in June

February 7, 2020 by Osato Avan-Nomayo at Regulation

Japanese lawmakers want the government to push for talks on central bank digital currency (CBDC) during the next G7 summit holding in the summer. US Should Set CBDC Agenda for G7 Partners According to Reuters, a parliamentary group led by Akira Amari of Japan’s Liberal Democratic Party (LDP) wants the...

Japan Must Be Ready to Issue CBDC If the Need Arises, Says BOJ Deputy Governor

January 30, 2020 by Osato Avan-Nomayo at Regulation

With Japanese lawmakers pushing for a digital yen, Masayoshi Amamiya, deputy governor of the country’s central bank says Japan needs an agile action plan for a central bank digital currency (CBDC). No immediate Plans to Launch Digital According to Reuters, Amamiya says the Bank of Japan (BOJ) has no immediate...

Ethereum in a machine of cogs Dapp and bank-threatening ideas

Australia’s Central Bank Testing Ethereum-Based Interbank Settlement System Using CBDC

January 16, 2020 by Osato Avan-Nomayo at Blockchain

The Reserve Bank of Australia (RBA) — the country’s central bank says adoption of state-backed digital currency for interbank settlement could provide certain advantages like cost savings and better financial inclusion. Australia’s apex bank is the latest to trial a blockchain-based payment system as nations mull the possibility of developing...

Bank of Korea to Establish Digital Asset Task Force

December 28, 2019 by Ashwath Balakrishnan at Regulation

In their 2020 monetary policy, the central bank for South Korea revealed that they are actively looking to set up a digital currency task force with their existing personnel, but will also recruit additional experts to look into the prospects of a central bank digital currency (CBDC). Central banks from...

European Regulators won’t Oppose Stablecoins but Double-Down on Libra Warning

October 18, 2019 by Ashwath Balakrishnan at Altcoins

Benoit Coeure, a French economist and executive director on the ECB, believes now is the time to step up the weight of regulation for digital currencies. As per Bloomberg, Coeure believes Bitcoin and other major FinTech innovations were being closely watched and allowed to unravel in their sandbox, but now...

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