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While there is an unclear future for digital currency development under Joe Biden’s presidency, China is leading the race.
New and developing research from the International Monetary Fund suggests that central banks around the world need new legal definitions for tokenized currencies.
Every country’s governments and financial institutions are making solid attempts at jumping on the central bank digital currency (CBDC) bandwagon, and Japan is no exception. Despite a lacklustre response to the creation of a digital yen late last year, Japan has returned to the course of digital currency innovation as the Bank of Japan takes on the challenge of designing, researching and testing a possible CBDC, but Japan’s private sector is not intending to sit still and wait for the bank to introduce it.
Major Japanese companies from various sectors will collaborate to engage in a pilot test to issue a private digital currency or Digital Yen.
BoE chief economist envisages banking sector split between payments and credit provision
Crypto-friendly regulation may be in the eye of the beholder.
Cypherium, an interoperability solution provider for blockchain based digital currencies, finalizes public sale, raising $28M in total.
Could a new, coordinated effort to digitalize the Japanese economy be strong enough to compete with residents’ persistent use of cash?
Bank of England policymaker Andy Haldane believes a widely used digital currency could have a positive impact on financial stability.
Hiromi Yamaoka, a former executive of the Bank of Japan believes the central bank will need several more years before it can issue its proposed CBDC.
Central banks should start tackling the accounting, legal and policy challenges related to CBDC
A former Bank of Japan official is concerned about a digital yen triggering massive outflows from private bank deposits.
The Ukrainian government is making serious steps toward crypto to make the country a leader in Eastern Europe.
CBDCs won’t fundamentally be changing anything — central banks still want to control your wealth and your money.