currency

The Bahamas’s central bank put its digital currency on its official balance sheet in April

The Bahamas’s central bank put its digital currency on its official balance sheet in April

In a financial statement published in late April, the Central Bank of The Bahamas achieved a little-known milestone — including its brand-new digital currency on its balance sheet. First included on page forty-seven of its annual report, the central bank noted that it had put $48,000 worth of the Sand Dollar into circulation. The document …

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MIT’s Narula: Bitcoin jumpstarted the current conversation on central bank digital currency

MIT’s Narula: Bitcoin jumpstarted the current conversation on central bank digital currency

The idea of wholly digital currencies isn’t a new one, but it was bitcoin that added extra fuel to that long-running conversation, according to Neha Narula, director of MIT Digital Currency Initiative. Her comments were included in The Block’s new wide-ranging report on central bank digital currencies, which covers a range of R&D initiatives from …

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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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Federal Reserve Bank of Boston’s Bench says the U.S. ‘better be ready’ for a future digital currency issuance

Federal Reserve Bank of Boston’s Bench says the U.S. ‘better be ready’ for a future digital currency issuance

The Federal Reserve — the U.S. central bank — has no immediate plans to launch a digital currency. But that doesn’t mean it shouldn’t be ready when that day comes, according to Robert Bench, assistant vice president in the secure payments group at the Federal Reserve Bank of Boston. During a recent webinar hosted by …

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Digital Currency Guru of $568M Cyber Fraud Forum Pleads Guilty

Digital Currency Guru of $568M Cyber Fraud Forum Pleads Guilty

Sergey Medvedev, a Russian national who operated a digital currency escrow service for the $568 million payment card fraud forum he founded in 2010, pleaded guilty to racketeering charges in what the U.S. government called its largest ever cyber fraud case.  Medvedev, 33, admitted in his June 26 plea before the U.S. District Court for …

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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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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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