Central bank digital currencies

In what could be interpreted as another optimistic signal for cryptocurrencies, Scott Bessent, President-elect Donald Trump’s nominee for Treasury Secretary, argued against the concept of a central bank digital currency in the U.S. on Thursday. What Happened: Bessent was taking...

SWIFT, the global bank messaging network, has announced plans to launch a new platform within the next one to two years. This platform will connect the emerging central bank digital currencies (CBDCs) with the existing financial system. What Happened: SWIFT’s head of innovation, Nick Kerigan...

Morgan Stanley (NYSE: MS) issued a warning about the potential decline in the global dominance of the U.S. dollar. The investment bank attributed this decline to the rising influence of digital assets like Bitcoin (CRYPTO: BTC) and various central bank digital currencies (CBDCs). Andrew...

During a panel at the Hong Kong Monetary Authority-Bank for International Settlements event, Singapore's central bank leader Ravi Menon, forecasted a decline in private cryptocurrencies that don't meet essential financial service standards. "Private digital coins have miserably failed...

Ashok Venkateswaran, Mastercard Inc.'s (NYSE: MA) lead for blockchain and digital assets in Asia-Pacific, on Friday asserted the current landscape doesn't provide sufficient grounds for the widespread adoption of central bank digital currencies (CBDCs), making broad...

In a significant move towards the digitization of currency, Singapore’s central bank, the Monetary Authority of Singapore (MAS), plans to test the live usage of wholesale central bank digital currencies (CBDCs) in 2024. What Happened: The announcement was made by MAS’s Managing Director...

IMF Managing Director Kristalina Georgieva called for faster adoption of central bank digital currencies (CBDCs) to improve sluggish and costly cross-border payments at the Singapore FinTech Festival on Wednesday. Georgieva’s Keynote Address Highlights: During her address,...

Central banks representing two-thirds of the world's nations and 98% of the global GDP are currently exploring the development of CBDCs, Coindesk reported, citing Bank of America. But a digital dollar? Don't expect one anytime soon. What Happened: “The Federal Reserve (Fed) continues...

Yannik Schrade, co-founder of privacy protocol Elusiv, articulated on Friday a nuanced view on the regulatory stances in the U.S. and Europe. Schrade emphasized the need for innovation-friendly policies, even as he delved into the intricacies of maintaining privacy in the era of...

Central Bank Digital Currencies (CBDCs) will epitomize the anti-crypto movement unless they are designed with ingrained security measures protecting users' privacy, Elusiv co-founder Julian Deschler said on Monday, amid sparked fervent discussions about their potential...

Agustin Carstens, the general manager of the Bank for International Settlements (BIS), has emphasized the importance of establishing legal frameworks to support the implementation and growth of Central Bank Digital Currencies (CBDCs). This topic is expected to be a focal point at Benzinga's...

In a move to safeguard the financial privacy of U.S. citizens, Republican Representative Tom Emmer (R-Minn.) has brought back the “CBDC Anti-Surveillance State Act” in the United States House of Representatives. What Happened: As reported by Cointelegraph,...

Federal Reserve official Michael Barr on Friday expressed deep concerns about the issuance of stablecoins without stringent federal oversight. Speaking at a fintech conference, Barr highlighted the potential threats stablecoins could bring to financial stability, U.S. payments, and monetary policy...

Corporates continue to embrace central bank digital currencies, or CBDCs, despite certain politicos calling the emerging tech "evil" and likening it to "the Death Star." What Happened: Mastercard (NYSE: MA) recently unveiled its CBDC Partner Program, which counts Ripple (CRYPTO...

Bill Wolf, the Chief Investment Officer at Archblock, believes that stablecoins are set to revolutionize the financial landscape, offering a more efficient alternative to traditional money transfer systems and reducing costs for global consumers. In an interview with Benzinga, he delved...