If you’ve been followingcryptocurrencynews or news on macroeconomic developments, you’ve probably come across the term “central bank digital currency” (CBDC). What is a CBDC? A central bank digital currency is a form of digital money that’s pegged to a nation’s fiat currency (e.g. ...
The retail e-rupee – or the Central Bank Digital Currency-retail (CBDC-R) – is essentially a digital version of cash. It is legal tender issued by the Central Bank but in electronic form. The e-rupee is issued in the same denominations as currently available banknotes and coins. You ca...
Cointelegraph reported that the value of the upcoming CBDC would be pegged against the national fiat payment system STR, also known as the Reserve Transfer System. Brazil could soon be the next Latin American nation to regulate cryptocurrency. A bill has been in the works since 2019 and is ...
In Kenya, the CBK has cautioned the public against using cryptocurrency and reiterated that it is not legal tender. Some regulators are piloting official, central bank digital currencies (CBDC). CBDC is legal tender in electronic form backed by the issuing authority. Unlike cryptocurrencies, CBDC ...
To address this issue and force people forward to CBDC, the government has instituted restrictions on the amount of money that can be withdrawn from ATMs. The duty of the government is to protect its country and people. The prospect of a CBDC being used to catch major criminals or prevent ...
“Essentially, the central bank digital currency is completely different from Bitcoin and other cryptocurrencies because it is still the centralized fiat currency in essence. However, the CBDC may strengthen the public’s perception of blockchain and cryptocurrency. In the long run, under the educatio...
(CBDC), while ensuring that the renminbi continues to be the dominant currency in China. The second, more immediate goal is to reshape China's current payment system by providing a cash-like digital payment method: accessible to all, low cost, anonymous (to a certain extent), and which ...
It is important to note, however, that 60% of institutions invested in spot cryptocurrency currently are also invested in cryptocurrencies beyond BTC and ETH. Going forward, spot cryptocurrency remains the most popular method for exposure, but as we look toward 2025, institutions expect to allocate...
The Digital Ruble is a central bank digital currency (CBDC) commissioned by Russian President Vladimir Putin. It is not a cryptocurrency like Bitcoin, as it is issued by the government and represents the official currency of the nation, the ruble. The value of the Digital Ruble is identical t...
There are even suggestions for different types of CBDCs. For instance, a type called a wholesale CBDC could be used in transactions between banks and financial institutions for wholesale payments—large or high-value payments between institutions. Retail CBDCs could be designed for daily transactions ...