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Former Binance CEO and founder Changpeng “CZ” Zhao calls Central Bank Digital Currencies “outdated” in the face of stablecoin acceleration. What happened to CBDCs and why are they fading now? Summary CZ says central bank digital currencies are now “outdated” as stablecoins continue to dominate the global market. So far, at least 10 countries have … Read more
The U.S. House of Representatives just made history for stalling on a crypto bill for over seven hours and 24 minutes, the longest vote in chamber history. Damn, things are getting serious huh? At the heart of the standoff was a rule vote on a package of cryptocurrency bills, including the controversial GENIUS Act, and … Read more
Australia is actively exploring digital currencies and tokenized assets. The Reserve Bank of Australia (RBA) is set to launch a comprehensive trial, in partnership with the Digital Finance Cooperating Reserach Centre (DFCRC). The country unveiled the next phase of ‘Project Acacia’ – an initiative designed to test the real world application of the central bank … Read more
No topic is more contentious in crypto than Central Bank Digital Currencies (CBDCs). In just 12 months, the number of countries exploring a central bank digital currency has ballooned from around 35 to at least 81, and likely higher as new data confirms 134 nations are now looking into digital currencies covering 98% of global GDP. Here’s … Read more
Four new cryptocurrency-related bills were introduced in the Michigan legislature this week, covering public pension investments in crypto, mining, income tax exemptions, and restrictions on CBDC support. As of May 23, four new proposed legislations, House Bills 4510, 4511, 4512, and 4513, have been introduced in the Michigan legislature, marking a coordinated push to define … Read more
Kyrgyzstan is entering the world of CBDCs (central bank-backed digital currencies) with President Sadyr Japarov approving the “digital som” for widespread use. With rivals like Russia and Belarus, who are nearing completion of their CBDCs, the race to digitize national currencies is on. Humor us while we put on our tinfoil hat… ask yourself, are … Read more
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. In the United States, over the course of several years, policymakers have studied, debated, and issued multiple reports on whether the Federal Reserve Bank should create a central bank digital currency—a “digital … Read more
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Banning digital assets makes about as much sense as regulating against gravity. How many times did the market dip, back in 2017, on the news that China was banning Bitcoin (BTC), only … Read more
Interoperability, privacy, and infrastructure still pose hurdles to retail CBDC adoption, a survey by GlobalData reveals. Central bank digital currencies are still a tough sell, even where they’ve officially launched. GlobalData’s latest survey report reveals that for consumers in many countries, CBDCs just don’t offer enough to make the switch from familiar payment methods, as … Read more
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. The concept of a central bank digital currency predates crypto’s most recent down market. However, it has steadily gained momentum as governments recognize the need to modernize payment systems while addressing various … Read more
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