Digital currency
Majority of central banks lack legal authority to issue CBDC
Technical CBDC design has legal implications
Payments efficiency is driving force behind many CBDCs
Inclusion, financial stability and monetary policy are also leading factors
Boston Fed-MIT team hails successful CBDC test
The project’s two open-source systems were able to process large transaction volumes
Pilot CBDC outage due to expired certificate, ECCB says
Blockchain network requires update before digital currency can come back online
Eastern Caribbean digital currency remains offline
DCash has been shut down since January 14, as firm says it has “identified problem”
IMF warns El Salvador on crypto
Executive board recommends “removing bitcoin’s legal tender status”
Japan launches Oceania CBDC study
Fintech firm Soramitsu will examine outlook for digital currencies in four Pacific island states
ECCB digital currency suffers outage
Eastern Caribbean’s DCash disrupted by unspecified “technical issue”
Jamaica prepares for national CBDC launch
Country is in the vanguard of digital currencies as it begins its national launch this quarter
Economics Benchmarks 2021 report – executive summary
Covid-19 coloured central banks’ views on the governance of their economics function in the past year, from research topics to forecasting, data, publications and more
Mexican government announces CBDC for 2024
Bank of Mexico has yet to comment publicly on the initiative
Crypto markets may centralise power – BIS bulletin
Need for centralisation is “inescapable” despite crypto boosters’ claims to the contrary – researchers
Podcast: an update on the e-naira project
Bitt’s Imran Khan explains how its project in Nigeria is different to CBDC projects launched before
Book notes: Shades of sovereignty, by Paul Wilson
An essential and stimulating read for central bankers thinking about the monetary history of their state in relation to its historical perspective and broad international trends
Alternative data fuels central bank research
Important research areas include monetary transmission, exchange rates, digitisation, SMEs and climate change, against the backdrop of Covid
Bank of Tanzania ‘working on CBDC’, governor says
Luoga says “cryptocurrencies are not safe” and president has urged work on CBDC
Chinese governor says CBDC must balance privacy and anti-crime measures
Yi says PBoC will collect “minimum amount of information” as police report first CBDC-related arrests
RBA stepping up CBDC research despite scepticism over use
Australian central bank is concerned private sector firms could dominate payments sector
People: RBNZ chief economist to leave after 25 years
ECB appoints lead for digital euro project and new director for banknote department
No UK central bank digital currency before 2025, BoE says
A 2022 consultation will determine if CBDC should enter “development” phase
Global CBDC network could save multinationals nearly $100bn
Payments system could eliminate delays and need for multiple correspondent banks
Nigeria launches ‘digital naira’ pilot
Central bank issues $1.2 million in retail CBDC after clampdown on private crypto
Fed’s Quarles says there is no case for a US CBDC
Central banks should not waste resource or risk “significant disruption” to the banking system
Podcast: reflecting on CBDC issuance in the Caribbean
Co-founder of Bitt, Simon Chantry: the ECCB is ready for issuance of central bank digital currency