Digital currency
PBoC developing interoperable QR codes for digital yuan
Digital yuan to be available in all retail scenarios and in wholesale securities markets
Kazakhstan joins mBridge project
NBK joins cross-border CBDC project as an observer
Swift tokenisation experiments connect multiple blockchains
Banks and FMIs working towards 24/7 global asset trading settlement and servicing
Hungary’s gamified CBDC pilot designed for children
Student Safe project is the first live retail CBDC pilot in Europe
SEC targets NFTs in enforcement action
Two commissioners dissent from first SEC action against NFT issuer
RBA says CBDC decision is likely ‘some years away’
Australian central bank says a CBDC might improve payments system but also questions its necessity
Digitalisation has complex impact on monetary policy – BoC paper
New technologies could affect policy transmission, communication and data tools
Custodia opens for business without Fed master account
Wyoming digital assets bank is continuing legal action against the US central bank
Russia starts digital ruble trials
Sanctioned banks are participating in CBDC pilot
Brazil’s CBDC to improve access to ‘intelligent financial services’
BCB expected to launch digital currency in 2024
Canadian CBDC would not improve inclusion, paper says
Bank of Canada research finds most citizens already have access to e-payments options
El Salvador’s central bank licenses Binance
Move comes despite growing international regulatory concern over crypto exchange firm
PayPal launches US dollar stablecoin
Company will publish reserves report in September
When £1 is not £1
Gabriel Stein examines the risks from introducing a CBDC should its value diverge from that of physical currency and bank deposits
Fed rate hikes propel ‘crypto cycle’ – IMF paper
Monetary policy more correlated with institutional investment in tech than finance
DeSantis attacks Federal Reserve
Republican candidate suggests he would name new Fed chair
Stefan Ingves on central bank failings on inflation and financial stability
The Riksbank veteran speaks about liquidity, interest rate and non-bank regulatory reforms, the importance of saying ‘no’, and the need for explicit legal definitions for digital money
Digital yuan transactions growing rapidly, PBoC says
But Yi Gang notes prototype CBDC currently takes up a very small share of cash in circulation
Guillermo Avellán on BCE independence, capacity-building and dollarisation
Central Bank of Ecuador general manager speaks about the need to bolster the central bank’s legal autonomy, dollarisation challenges, payments developments and monetising local gold production
Panama supreme court rejects crypto law
Judges agree draft law has unconstitutional provisions and was improperly passed
Senad Softić on governance, currency boards and EU convergence challenges
Central Bank of Bosnia and Herzegovina governor speaks about improving governance in a political vacuum, managing a currency board amid rip-sawing euro rates, resolving Gazprom’s local units, modernising payments and meeting EU convergence criteria
New York Fed completes global digital dollar proof of concept
Wholesale CBDC project tested 24/7 payment and settlement
BIS attacks crypto in report to G20 officials
But report promotes DLT for use in cross-border wholesale CBDC
IMF repeats warning on Marshall Islands’ fintech plans
Fund proposes Pacific island state could set up a ‘monetary authority’