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Cryptonews Tags CBDC

# CBDC

CBDC stands for central bank digital currency, also widely referred to as digital fiat currency, or digital base money. Unlike virtual currency and cryptocurrency, CBDCs are a digital form of fiat money like USD, GBP, or EUR, and its money status is ensured by government regulation, law, and dedicated monetary authority. It is expected that public digital currencies could claim legal tender status by governments in the future, thus challenging the status quo of commercial bank deposits and contemporary payments and banking systems. Potential benefits of CBDC include technological efficiency, tax collection, monitoring and preventing illicit activities, and more financial safety. Potential drawbacks include totalitarian surveillance, financial exclusion, and bank runs on commercial banks.

All #CBDC

Features
Who is Pierre Poilievre? The Bitcoiner Who Could Be Canada’s Next Leader

Pierre Poilievre has supported Bitcoin for years — and now, he's the favorite to become the next Canadian prime minister.

, by Connor Sephton
Blockchain News
Trump’s Treasury Pick Scott Bessent Rejects Need for a US Digital Dollar

Scott Bessent, Trump’s Treasury nominee, has said that the Treasury should stop exploring the creation of a central bank digital currency.

, by Shalini Nagarajan
Blockchain News
UK Central Bank to Test CBDC Capabilities in New Digital Pound Lab

The Bank of England announces the launch of the Digital Pound Lab to explore practical applications and technical designs for its proposed CBDC, ensuring feasibility and innovation.

, by Hongji Feng
Sberbank Urges Moscow to Postpone Digital Ruble Launch to 2026
Sberbank wants the Russian Central Bank to push its digital ruble rollout back to 2026, with the banking giant calling for a more “realistic” CBDC launch date. The Central Bank has previously announced its intention to launch its digital fiat before the end of 2025, in spite of prior commercial...
, by Tim Alper
Guangzhou Expands Digital Yuan Pilot with New Action Plan for 2025
Guangzhou’s Municipal Financial Work Committee issued an action plan on Friday, January 3, 2025, to advance the adoption of the digital yuan, focusing on expanding its application in daily transactions and public services. According to the announcement, the plan outlines phased goals from 2025...
, by Hongji Feng
Russian Banks Still Unsure About Digital Ruble as Central Bank Sets Rollout Date
Russian banks are worried they will be burdened with costs when the nation’s central bank rolls out its CBDC, the digital ruble, next year. The bank last week said that it would release the coin to the public on July 1, 2025. Digital Ruble Doubts? The radio broadcaster Avto Radio reported...
, by Tim Alper
Bank Indonesia Completes Proof of Concept for Digital Rupiah: What’s Next?
Bank Indonesia has completed the first digital Rupiah, advancing the development of a CBDC for the country.
, by Hassan Shittu
Societe Generale and Banque de France Complete First CBDC Repo Transaction
Societe Generale announced on Friday that it had completed a test repo transaction using a Central Bank Digital Currency (CBDC) issued by the Banque de France, conducted on the Ethereum blockchain. https://twitter.com/SocieteGenerale/status/1867486786336821368 According to a press release...
, by Hongji Feng
Kyrgyzstan Passes Law Defining Digital Som CBDC Framework
Kyrgyzstan has approved a draft law establishing the framework for its CBDC, the digital som, which will serve as legal tender and is set for prototype testing in early 2025.
, by Hassan Shittu
New Zealanders Skeptical of CBDCs: Survey Reveals Privacy Concerns
On December 10, the Reserve Bank of New Zealand (RBNZ) released findings from its recent public consultation on a potential central bank digital currency (CBDC), revealing widespread skepticism. Results Highlight Limited Interest in Digital Cash The consultation, conducted between April and...
, by Jimmy Aki
Iran To Regulate Not Restrict Crypto, Says Finance Minister
Iran’s Minister of Economic Affairs and Finance, Abdolnaser Hemmati, has revealed the government’s plans to regulate cryptocurrencies.
, by Jimmy Aki
Philippines Central Bank Completes Wholesale CBDC Testing
The Bangko Sentral ng Pilipinas wraps up its wholesale CBDC pilot, Project Agila, designed for secure, 24/7 interbank fund transfers.
, by Jimmy Aki
Central Bankers’ Enthusiasm for CBDCs Wanes Despite Growing Research: OMFIF Survey
Central bankers are losing enthusiasm for central bank digital currencies (CBDCs) despite a continued rise in research efforts.
, by Ruholamin Haqshanas
Russian Ministry of Industry Proposes Two-Year Transition Period for Digital Ruble Adoption
Russia’s Ministry of Industry has proposed a two-year transition period to ease the implementation of digital ruble payments.
, by Jimmy Aki
Morocco Drafts Law to Lift Crypto Ban With New Regulatory Framework
Morocco is preparing a new law to regulate cryptocurrencies, signaling a potential end to the ban that has been in place since 2017. https://twitter.com/matthew_sigel/status/1861386653140496885 According to a Reuters report on Tuesday, Abdellatif Jouahri, governor of Morocco's central...
, by Hongji Feng
‘China’s Digital Yuan Has Failed, and Has Weakened Xi’ – Report
A media outlet has claimed that China’s digital yuan project has “failed,” calling this “a sign” of President Xi Jinping’s “weakening power.” The report was published in the Epoch Times, a US-based Chinese-language newspaper affiliated with the Falun Gong movement. The media outlet is...
, by Tim Alper
India Explores CBDCs and Cross-Border Mobile Payments
India is intensifying its efforts to enhance cross-border mobile payment systems and integrate central bank digital currencies (CBDCs) into its financial ecosystem. According to a Bloomberg report, Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar announced ongoing collaborations with...
, by Hassan Shittu
ECB Pushes for Digital Euro Launch to Keep Pace with Global CBDC Race
ECB urges rapid action on the digital euro project to avoid falling behind with global competitors in the race for central bank digital currencies (CBDCs).
, by Jimmy Aki
India’s Central Bank Not in Hurry to Roll Out CBDC: Report
RBI takes a measured approach to the e-rupee, focusing on gradual adoption while monitoring global CBDC trends.
, by Jimmy Aki
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