China’s Central Bank ‘Close’ to Launching Official Digital Currency

An official at China’s central bank has said the institution is nearing the launch of its digital currency. Speaking at an event in China over the weekend, Mu Changchun, deputy director of the payments unit at the People’s Bank of China (PBoC), said its researchers have been hard at work since last year to complete the […]

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German Central Bank Chief Pours Cold Water on Digital Currencies

By CCN: Deutsche Bundesbank president Jens Weidmann has added a dampener to discussions on central bank digital currencies (CBDC), claiming they would destabilize financial systems and worsen bank runs. The president of Germany’s central bank said, in a speech in Frankfurt, Germany, that widespread use of digital central bank money could have “serious consequences.” CBDCs […]

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Eastern Caribbean Central Bank to Test Blockchain Legal Tender

The Eastern Caribbean Central Bank (ECCB) is about to conduct a pilot for a blockchain-based central bank digital currency (CBDC) in preparation for its planned full rollout as a legal tender, possibly in 2020. For the initiative, the ECCB late last month inked a deal with Barbados-based fintech firm Bitt to help conduct the pilot, with […]

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