BIS wraps exploration project on retail CBDC payment system
The bank concluded that a ‘hub-and-spoke’ model between CBDC domestic systems could “reduce settlement and counterparty risk" and complete cross-border transactions in seconds.
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India explores offline functionality of CBDCs — RBI executive director
In addition to offline functionality, RBI is gauging CBDC’s potential for cross-border transactions and linkage with legacy systems of other countries.
US Treasury-led CBDC Working Group looking at technical issues, national interest
Treasury Under Secretary for Domestic Finance Nellie Liang examined some of the design issues that would shape a potential U.S. digital dollar.
Proposed South Dakota amendment to UCC would prohibit cryptocurrencies, but not CBDC
The bill authored by a Republican state legislator would prevent the use of cryptocurrency as a medium of exchange after July 1, 2024.
Hong Kong citizens not interested in digital yuan: Reports
Despite the 20% discount, the e-CNY hard wallets don’t attract much attention from the islanders.
Australian central bank to launch ‘live pilot’ of CBDC in coming months
The use cases for the CBDC ranged from offline payments to “trusted Web3 commerce” and financial industry participants were invited to undertake a live pilot.
Anti-CBDC bill in the US, no algo stablecoins for Canada: Law Decoded, Feb. 20–27
United States Representative Tom Emmer introduced legislation in the U.S. House of Representatives that could prevent the Federal Reserve from issuing a central bank digital currency.
U.S. Treasury Janet Yellen calls for ‘strong regulatory framework’ for crypto activities
On the sidelines of the G20 meeting, U.S. Treasury Secretary Janet Yellen said the country is not pushing for an outright banning of crypto activities.
IMF offers Jordan’s central bank recommendations for implementing retail CBDC
The IMF mission spent three months studying conditions in the country, which is preparing to produce a feasibility report.
BIS head describes ideal ‘unified ledger’ for central banks and other financial users
peaking in Singapore, Agustín Carstens described a ledger that would accommodate a variety of public and private projects in discrete but connectable parts.
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