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Speech by Mr Michael S Barr, Vice Chair for Supervision of the Board of Governors of the Federal Reserve System, at the Federal Reserve Bank of Philadelphia Seventh Annual Fintech Conference, Philadelphia, Pennsylvania, 8 September 2023.

Supervision chief warns of danger of unregulated issuance of stablecoins

According to Christopher Eniayemo, the decision to print new naira notes could have occurred via DeFi, involving Nigerians and aiding readiness for the change.

Governor says project is aiming to reach one million daily transactions by December

Michael Barr expressed “strong concern” about stablecoins and appreciation of legislative efforts to address them at the Philadelphia Fed’s fintech event.

Following an August recess, members of the House Financial Services Committee will gather for a “Digital Dollar Dilemma” hearing on Sept. 14.

Mairead McGuinness believes that the CBDC project should be approached “quietly and slowly” by the next European Commission.

Some Russian banks have been increasingly concerned about the potential implications of the digital ruble after the first pilots started in August.

The RLN, which places tokenized assets and liabilities on the same ledger, was tested with simulated cross-border CBDC transactions in a previous project.

Digital yuan to be available in all retail scenarios and in wholesale securities markets

Keynote address by Mr Shaktikanta Das, Governor of the Reserve Bank of India, at the G20 TechSprint Finale, organised by the Reserve Bank of India and the Bank for International Settlements, Mumbai, 4 September 2023.

New legal regime also introduces a penalty system for refusing notes and coins

Private payment services can gain a monopoly with no benefit to other market players or economic stability, ECB board member Fabio Panetta said.

In the short term, e-commerce platforms can integrate the CBDC through QR codes.