Hong Kong's central bank is aiming to "future-proof" the financial center for the growth of CBDCs as part of its "Fintech 2025" strategy.
The paper focuses on the effects of private stablecoins on the cost and availability of lending and the challenges for monetary policy.
Bank of Ghana Gov. Ernest Addison also warned against “unregulated” cryptocurrencies.
Maintaining users' privacy is a key design focus, according to Massad. "We're not China."
A bipartisan bill would require the U.S. Treasury secretary to publish a report on the dollar's role in the global economy, as well as how central bank digital currency efforts are proceeding.
The future of CBDCs, stablecoins and untethered cryptocurrencies was all up for grabs on an action-packed day at CoinDesk's flagship event.
Jessica Turner, the storied payment network’s fintech executive, reflects on mainstream crypto adoption at Consensus 2021.
Building central bank digital currencies is not the American way, said the former Acting Comptroller of the Currency on CoinDesk TV today.
“CBDCs will be here to complement, and to address gaps that the traditional monetary system is not able to fulfill,” Bank of Mauritius Governor Harvesh Seegolam said.
Yaya Fanusie also believes that fears the Chinese CBDC would undermine or displace the U.S. dollar as the world's reserve currency are "overblown."
The South African Reserve Bank said it will carry out trials on different technology platforms for the study.
The Federal Reserve governor discussed cryptocurrencies and a digital dollar at Consensus 2021.
The potential launch of private cryptocurrencies such as the Facebook-backed Diem is motivating central banks to develop CBDCs, the report noted.
Last year, Federal Reserve Governor Lael Brainard announced the Boston branch of the U.S. central bank was exploring a digital dollar. She’ll be speaking next week at Consensus.
“Widespread adoption of CBDCs may be disruptive for financial systems if associated risks are not managed,” warn Fitch Ratings analysts Monsur Hussain and Duncan Innes-Ker.