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Cryptonews Tags Digital fiat

# Digital fiat

All #Digital fiat

Blockchain News
Visa Creates Platform to Aid Banks in Issuing Fiat-Backed Tokens

Visa has launched a platform to assist banks in issuing fiat-backed tokens, aiming to modernize financial systems and enhance blockchain integration, while navigating regulatory compliance and improving payment solutions.

, by Hassan Shittu
Blockchain News
Mt. Gox Trustee Reveals Updated Bitcoin and Fiat Repayment Schedule for Creditors
The last round of Mt. Gox's much awaited creditor compensation process is now approaching. By October 2024, the bankrupt exchange is expected to payout 142,000 Bitcoin (BTC), 143,000 Bitcoin Cash (BCH), and 69 billion Japanese yen ($510 million), according to a post published on Reddit on April 21.
, by Jimmy Aki
Blockchain News
Brazilian Central Bank Digital Currency Raises Alarm as Developer Uncovers Fund Freezing Feature
Source: PixabayA blockchain developer has found a code in Brazilian central bank-backed digital currency (CBDC) that would allow the government to freeze accounts or even drain them at will. Founder of Web3 consulting company Iora Labs and blockchain developer Pedro Magalhaes took to social media to reveal his findings in the Brazilian CBDC pilot. Magalhaes claims to have reverse-engineered the code behind the CBDC and pilot and found a feature that would allow the government to...
, by Jai Pratap
CBDCs Might Increase Central Banks’ Footprint on Financial System – BIS
The introduction of central bank digital currencies (CBDCs) could potentially lead to central bank expanding its footprint on the financial system, according to Economic Adviser and Head of Research at the "central bank of central banks," the Bank for International Settlements (BIS). It is likely...
, by Sead Fadilpašić
Washington Warned: Launch Digital Fiat or Say Goodbye to USD Dominance
A group pushing for the United States to adopt a digital dollar has warned that failure to launch a central bank digital currency (CBDC) could cost the country dear – and could see the USD lose its status as the world’s reserve currency.Source: Adobe/salomonus_In its first white paper,...
, by Tim Alper
South Korean Central Bank Steps up CBDC Work ‘in Response to COVID-19’
The South Korean central bank has sped up its digital currency issuance progress, per a new report, with officials to begin a tech review several months ahead of schedule.Source: Adobe/mnimageAccording to Chosun, the central Bank of Korea (BOK) says it has conducted a study of the technological...
, by Tim Alper
Chinese Media Outlets Rush to Distance the Digital Yuan from Bitcoin
A number of Chinese media outlets have published reports outlining the central bank’s plans for the digital yuan, which is set to make its debut at testbed sites next month, with some keen to point out that the new token “is not bitcoin (BTC) or ethereum (ETH)” and will not lead...
, by Tim Alper
‘Market-led’ Currencies Can Live Alongside Digital Euro – ECB Board Member
While global regulators are warning about the risks of cryptocurrencies and private money initiatives such as Facebook's Libra, a member of the Executive Board of the European Central Bank (ECB) made a somewhat surprising statement in support of "market-led initiatives."Fabio Panetta. Source:...
, by Sead Fadilpašić
Starbucks Denies Involvement in Digital Yuan Tests
American multinational chain of coffeehouses, Starbucks, has denied being involved in the testing of China's digital yuan.Source: Adobe/ManuPadilla"We are not participating in the digital currency trial in China," a Starbucks spokesperson told Cryptonews.com, without elaborating. As reported, news...
, by Sead Fadilpašić
McDonald’s, Starbucks, Subway May Take Part in Digital Yuan Tests – Reports
McDonald’s, Starbucks and Subway branches could be set to take part in the Chinese central bank’s digital yuan pilots, with Beijing’s efforts to roll out the world’s first central bank digital currency (CBDC) intensifying.Source: Adobe/efiredMultiple Chinese outlets,...
, by Tim Alper
Central Bank Says CBDC Could Learn From Bitcoin, Rejects Decentralization
The move from fiat currencies to new central bank digital currencies appears to be gaining traction, as one of Europe’s biggest central banks admitted that (unspecified) parts of Bitcoin’s underlying technology could be used in creating a new type of currency.Source: Adobe/Comugnero...
, by Fredrik Vold
Chinese Central Bank Makes it Official: Digital Fiat Tests to Begin
The Chinese central bank, the People’s Bank of China (PBoC), has officially confirmed a number of digital currency testing reports – and has indicated that testing will soon begin in the country’s capital, Beijing.Source: Adobe/Aleksandra SovaThe PBoC has also rushed to insist...
, by Tim Alper
Chinese IT Firms Deny Digital Currency Involvement as Shares Skyrocket
Chinese tech companies have been hurridly issuing statements denying they are involved with digital currencies – as stocks in domestic IT firms continue to soar on exchanges in the Middle Kingdom. Source: Adobe/Blue Planet StudioAnd it seems that even though some leading companies have been...
, by Tim Alper
Digital Yuan Real-world Tests to Begin in May – Chinese Media
Multiple domestic media outlets are reporting today that China is beginning its first tests for what is set to become the world’s first central bank-issued digital currency, with real-world tests coming in May.Source: Adobe/alswartChinese outlets say that the digital yuan, known in China as...
, by Tim Alper
Are these the First Images of China’s Digital Yuan? (UPDATED)
Social media users believe they have captured screenshots of a beta version of China’s much-awaited central bank digital currency (CBDC). (Updated at 13:53 UTC: updates in bold). Source: Adobe/S.GvozdWeChat users are believed to have gained access to the screenshots on Tuesday this week....
, by Tim Alper
IMF Deputy Managing Director Tao Zhang on CBDC Benefits and Risks
Below is a keynote address on central bank digital currency by Tao Zhang, Deputy Managing Director at the International Monetary Fund. London School of Economics, February 28, 2020. ___Source: Adobe/flydragonTao Zhang. Source: imf.orgIt’s a real pleasure for me to be here for this conference...
, by Tao Zhang
This Is How G20 Might Keep Crypto And Stablecoins at Bay
Triggered by the expansion of cryptocurrencies and private stablecoins, new intergovernmental initiatives are emerging in order to solve problems of the global financial system and keep public cryptoassets at bay.Source: Adobe/concept wEarlier in April, the “central bank of central...
, by Sead Fadilpašić
It’s Happening: S Korean Central Bank Unveils Plans to Pilot a CBDC
The South Korean central bank, the Bank of Korea (BOK) is “one step closer” to launching a pilot for a central bank digital currency (CBDC) and could start piloting a token as early as December this year – in line with central banks in other regions, which are also thought to be...
, by Tim Alper
The World Might See CBDCs Sooner Than Expected
The “central bank of central banks” and multiple analysts think that the fear of the coronavirus transmission via cash and banking cards may shorten the road to central bank digital currencies (CBDCs).Source: Adobe/terovesalainenPeople are afraid of using cash, says the Bank for...
, by Sead Fadilpašić
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