Six Major Central Banks to Collaborate on Digital Currency Research

The central banks of Canada, the United Kingdom, Japan, European Union, Sweden and Switzerland created a group with the Bank for International Settlements (BIS) to jointly research central bank digital currencies (CBDC).

According to a press release published by the Bank of England on Jan. 21, the aforementioned institutions will share their experience with other group members as they study potential use cases for CBDCs in their respective jurisdictions.

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ECB President Pushes for a Central Bank Digital Currency

The president of the European Central Bank (ECB), Christine Lagarde, supports the bank’s active involvement in the development of a central bank digital currency (CBDC) to address the demand for faster and cheaper cross-border payments.

In an interview with French business magazine Challenges published on Jan. 8, Lagarde discussed the most likely threats to the global economy in 2020,

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Banker Who Called Bitcoin ‘Evil Spawn’ Heads BIS Digital Currency Hub

A former European Central Bank board member will chair a new arm of the Bank of International Settlements (BIS) focusing on digital currencies and financial innovation. 

In a press release on Nov. 11, the BIS confirmed Benoît Cœuré would begin chairing the Innovation Hub from January 15, 2020. 

BIS eyes impact of “critical trends”

“The Hub’s mandate is to identify,

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Libra Seen as Threat to National Currency Sovereignty, Pleads With G-7

Public authorities across the globe continue to press the developers of Libra, Facebook’s proposed stablecoin-like digital asset. 

On Sept. 16, Libra representatives met with the Committee on Payments and Market Infrastructure (CPMI), a part of the Bank for International Settlements (BIS) — an umbrella group for 60 central banks and monetary authorities — to discuss the regulatory hurdles around stablecoins developed by large financial institutions and tech companies. 

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Official Chinese Currency Renminbi to Become Cryptocurrency, Expert Says

Donald Tapscott, executive chairman of the Blockchain Research Institute,  stated that the official Chinese currency, the renminbi (RMB), will become a cryptocurrency, in an interview with Bloomberg on April 17.

In the interview, Tapscott revealed that he had recently been at a meeting with the vice-chairman of the Communist Party in China,

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How the Marshall Islands Envisions Its National Digital Currency Dubbed ‘Sovereign’

On Jan. 10, 2019, the team behind a national cryptocurrency for the Republic of the Marshall Islands (RMI) — dubbed the Sovereign (SOV) — revealed that the coin is still being actively developed, despite previous disagreements among government officials, as well as reservations expressed by the International Monetary Fund (IMF) and the United States Treasury Department on the subject.

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Venezuela to Launch Petro-Pegged Fiat Currency Next Month


Venezuela, a country battling one of the deepest economic recessions on record, is set to launch a new fiat currency pegged to its oil-backed “petro” cryptocurrency next month, according to President Nicolas Maduro.

Venezuela to Create Fiat Currency Pegged to Cryptocurrency That is Pegged to Oil

As reported by local news outlet Telesur,

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