CBDC

Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong expressed concerns on Wednesday over the competitiveness of dollar-pegged stablecoins in light of China’s decision to pay interest on its central bank digital currency. Armstrong Questions Policymakers In an X post, Armstrong...

Stanford University has identified three defining challenges shaping the future of cryptocurrencies: the absence of clear U.S. regulation, looming risks from quantum computing and growing international momentum around central bank digital currencies (CBDCs). What Happened: The Stanford Emerging...

In what could be interpreted as another optimistic signal for cryptocurrencies, Scott Bessent, President-elect Donald Trump’s nominee for Treasury Secretary, argued against the concept of a central bank digital currency in the U.S. on Thursday. What Happened: Bessent was taking...

Global banking network SWIFT is set to trial live transactions involving digital currencies and tokenized assets next year, marking a significant advancement in integrating these assets into the mainstream financial system. What Happened: SWIFT’s initiative aims to streamline trading by using...

Ex-President Donald Trump reiterated his desire for the U.S. to make “all the remaining Bitcoin” in order to be “energy dominant.” It’s worth noting that Bitcoin has a capped supply of 21 million and 90% has already been mined. The leading cryptocurrency’s U.S.-...

U.S. Representative Marjorie Taylor Greene has raised alarms about the potential economic consequences for America as she claimed BRICS nations plan to move away from the U.S. dollar. On Wednesday, Greene tweeted that this shift could “destroy America's economy.” What Happened: The...

Despite the Chinese government’s push for the adoption of the digital yuan, many workers are still hesitant to use it for their daily transactions. What Happened: Sammy Lin, an account manager at a state-owned bank in Suzhou, receives her monthly salary in digital yuan. However, she, like...

SWIFT, the global bank messaging network, has announced plans to launch a new platform within the next one to two years. This platform will connect the emerging central bank digital currencies (CBDCs) with the existing financial system. What Happened: SWIFT’s head of innovation, Nick Kerigan...

The Venezuelan government has reportedly put an end to its official cryptocurrency, the Petro. But what was the Petro? And why did it fail to solve the country's 359.99% inflation rate in 2023? The Petro: A Failed Experiment Venezuela may have become the first country to...

Rep. Warren Davidson (R-Ohio) has made a plea to Congress advocating for a prohibition on Central Bank Digital Currencies and seeking criminal penalties for their creation. What Happened: Davidson on Tuesday said, “CBDCs poses an existential threat to western civilization. Sound money serves...

Bank of Korea (BOK) Gov. Rhee Chang-yong highlighted the rapid evolution of the digital financial landscape and its implications for central banks worldwide at a conference, "Digital Money: Navigating a Changing Financial Landscape," last Friday. What Happened: Rhee...

Bitcoin’s (CRYPTO: BTC) year-to-date performance of 156% gains stood significantly ahead of gains reported by Nasdaq (-11%), S&P 500 (+23%), and Gold (SPDR Gold Trust +9.6%). What Happened: The year 2023 witnessed a major increase in institutional involvement in cryptocurrencies. Close...

The Financial Services Commission (FSC) of South Korea declared that starting in July 2024, investors in digital assets will be entitled to earn interest on their deposits held at exchanges. What Happened: These exchanges will be mandated to segregate customer deposits from their own assets and...

At the University’s debate in Tuscaloosa, Republican candidates spoke about cryptocurrency regulation, Central Bank Digital Currency (CBDC), and its potential dangers.  What Happened: Eliana Johnson of the Washington Free Beacon probed candidate Vivek Ramaswamy regarding his advocacy for...

China’s central bank digital currency (CBDC) development is in its final stages, according to the former governor of the People’s Bank of China (PBOC), indicating a significant stride towards the country’s digitalization of its financial system. What Happened: Zhou Xiaochuan, the...