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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.
The blockchain-based national eKYC banking platform aims to strengthen Anti-Money Laundering capabilities while countering terror financing.
In addition to offline functionality, RBI is gauging CBDC’s potential for cross-border transactions and linkage with legacy systems of other countries.
Treasury Under Secretary for Domestic Finance Nellie Liang examined some of the design issues that would shape a potential U.S. digital dollar.
Despite the 20% discount, the e-CNY hard wallets don’t attract much attention from Hong Kong residents.
The bill authored by a Republican state legislator would prevent the use of cryptocurrency as a medium of exchange starting July 1, 2024.
A former CIA analyst doesn’t believe the Chinese-led CBDC movement on the global stage will replace the U.S. dollar but may cause geopolitical headaches.
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.
Central bank proceeding with pilot despite potential drawbacks
US Treasury Secretary Janet Yellen underlined the need for effective cryptocurrency regulation.
Take-up could be as high as 25% of total money, but depends on design choices, IMF research finds
Daleep Singh argues that crowding out cryptocurrencies by establishing a CBDC in the United States would protect the country's national interests.
Deputy governor says effect of paying interest unclear and could clash with other objectives