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Central bank of the Philippines is considering issuing its own digital currency

Central bank of the Philippines is considering issuing its own digital currency

The central bank of the Philippines, locally called the Bangko Sentral ng Pilipinas (BSP), is looking at the feasibility of issuing its own digital currency. Bloomberg reported the news on Wednesday, saying that the central bank has created a committee to study digital currencies and its policy implications. Governor Benjamin Diokno said the central bank …

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Japan’s central bank sets up new team to research digital currencies

Japan’s central bank sets up new team to research digital currencies

The Bank of Japan (BOJ), the country’s central bank, has set up a new dedicated team to further study digital currencies. Reuters reported the news on Sunday, saying that the team is part of the central bank’s payment and settlement systems division. Members of the team are not yet known. The news comes just days …

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South Korea’s central bank forms legal advisory team to research digital currency

South Korea’s central bank forms legal advisory team to research digital currency

The central bank of South Korea has today officially formed a legal advisory group to research digital currency. The six-member group comprises of internal and external legal experts, who will advise the Bank of Korea on legislative and amendment matters concerning central bank digital currency (CBDC) if it were to issue one. To be sure, …

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Congressman calls for more transparency from the Fed on central bank digital currency work

Congressman calls for more transparency from the Fed on central bank digital currency work

U.S. Representative Tom Emmer said Thursday that the U.S. Federal Reserve should be more open about its research and development efforts focused on a central bank digital currency, or CBDC. Emmer’s comments came during an appearance of the House Financial Services Committee’s The Task Force on Financial Technology, which met to discuss topics like the …

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Iranian Lawmaker Says Bitcoin Should Be Central Bank's Turf

Iranian Lawmaker Says Bitcoin Should Be Central Bank’s Turf

An Iranian lawmaker wants his country’s central bank to take bitcoin seriously. Representative Mohammad Hossein Farhangi (Tabriz), speaking Tuesday before the nation’s parliament, called on the Governor of the Central Bank of Iran, Abdolnaser Hemmati, to handle oversight of bitcoin, according to the Tasnim news agency.  Calling proper management of bitcoin a “good opportunity for …

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Lipton: Stablecoins Can Bridge Central Banks and Consumer Payments

Lipton: Stablecoins Can Bridge Central Banks and Consumer Payments

Alexander Lipton is the CTO of Sila, a visiting professor and Dean’s Fellow at the Jerusalem Business School of the Hebrew University of Jerusalem, and a Connection Science Fellow at the Massachusetts Institute of Technology. As many still wait to receive the check from the Paycheck Protection Program and Health Care Enhancement Act, which is …

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Central Bank Digital Currencies Need Decentralization

Central Bank Digital Currencies Need Decentralization

Igor Mikhalev is an expert principal at BCG helping clients develop business models with blockchain technologies and digital currencies. Kaj Burchardi is a Managing Director with BCG and leads the blockchain practice of BCG/Platinion globally. Digital currencies hold a long-term promise to change the way nations, corporations, and people transact value. Some of them – …

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Libra 2.0 may end up being a massive threat to central banks' CBDC hopes

Libra 2.0 may end up being a massive threat to central banks’ CBDC hopes

There has been rapid progress on the CBDC end lately. China has reached the final phase and many other countries are walking the same path. The latest news is the central bank think tank OMFIF launching the Digital Monetary Institute, a forum to further the explorations around central bank digital currencies (CBDC). Philip Middleton, Chairman …

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Dutch central bank wants to play a leading role in digital currency development

Dutch central bank wants to play a leading role in digital currency development

The central bank of the Netherlands, De Nederlandsche Bank, says it wants to be a world leader in the development of central bank digital currencies. In a bulletin posted Tuesday, the bank said that the use of physical cash is “clearly” declining in the Netherlands, meaning that people are using less central bank-issued money to …

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