RBA to Explore CBDC Use Cases in Australia via Research Pilot
By / August 8, 2022, 11:19 pm EDT

… with the Digital Finance Cooperative Research Centre (DFCRC) to begin exploring use cases for a retail central bank digital currency (CBDC).

Both parties will embark on a year-long research project encompassing the development of a “limited-scale” CBDC operating in …

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CBDCs the Core of Future Monetary System: BIS Report
By / June 21, 2022, 7:00 am EDT

… goals of a digital monetary system,” it added.

BIS argues that a future monetary system should contain both the “retail CBDC level” — which is predominantly used by individuals to pay each other or businesses — and “the wholesale CBDC level” — which is …

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Consider the Environment When Designing CBDCs, IMF Urges
By / June 10, 2022, 5:19 pm EDT

IMF report suggests countries, crypto infrastructure providers move away from proof-of-work-based CBDCs
CBDCs should be better for the environment than existing systems, analysts said

A new study from the International Monetary Fund urges countries looking to develop CBDCs …

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In Historic Move, Jamaica Makes CBDC Akin to Cash
By / June 8, 2022, 4:01 pm EDT

… a cash-heavy economy — and buttress the finances of the unbanked — Jamaica has become the first country to render a CBDC legal tender.

Jamaica’s senate authorized the country’s national bank to issue its CBDC (central bank digital currency), the …

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Q&A: Bank of England Vet Says CBDCs Will Be a “Centerpiece to a Wider Ecosystem of Stablecoins”
By / June 8, 2022, 10:30 am EDT

… trusted form of digital money” alongside private stablecoins, according to Paul
More than half of central banks are now developing CBDCs or running concrete experiments, according to the Bank for International Settlements

The new director of CBDC and market infrastructure for …

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Why Emerging Markets Are Leading the Charge on CBDCs
By / May 26, 2022, 1:53 pm EDT

… an advantage, their existing payments technology can also serve as a barrier to the creation and broad adoption of a CBDC.”

Emerging markets looking into CBDCs have similar goals and motivations, the BIS said in a report earlier this month.

“Providing …

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UST’s Collapse Might Push Central Banks Closer to a CBDC
By / May 16, 2022, 8:09 am EDT

The UST situation could accelerate talks of a CBDC in the US
Even if lawmakers agree on establishing a CBDC, there is still concern over structure and role, others say

The ongoing TerraUSD meltdown might be the final push central bankers …

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Jamaica To Launch CBDC This Summer
By / May 10, 2022, 7:46 am EDT

… domestic use and will operate under a hybrid model which “aims to combine the benefits of both wholesale and retail” CBDCs, the Bank of Jamaica (BOJ) said. A wholesale CBDC is one  issued by the central bank to commercial banks only …

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PwC: More Than 80% of Central Banks Are Considering Launching a CBDC
By / April 4, 2022, 7:00 pm EDT

… from PwC said in the firm’s annual index of CBDCs and stablecoins, which was released Monday. “We expect that CBDCs will greatly benefit cross-border transactions and economies of all relevant jurisdictions.”

Overall, retail CBDC projects, which are digital currencies …

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Ted Cruz’s Senate Bill on CBDCs Replicates January House Proposal
By / March 31, 2022, 10:59 am EDT

… legislation, introduced by the Republican senator from Texas, would prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals.

A direct-to-consumer CBDC could be used as a “financial surveillance tool” by the federal government …

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