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As the development of the digital yuan project progresses, the number of China’s largest companies testing the national cryptocurrency is rapidly growing. Despite the global economic crisis and the consequences of the coronavirus pandemic, the development of the Chinese national cryptocurrency, the Digital Currency Electronic Payment, is steadily progressing. The increase in the number of …

Digital Yuan CBDC Momentum Grows as More Chinese Firms Get to Testing Read More »

Vachira reportedly cited the CBDC experience of China, claiming that the public rollout of the digital yuan has not affected the financial system in the country so far. As reported, the BOT officially launched a pilot project to test its CBDC payment system in June 2020. Announcing the news, the bank said that before rolling out the system to …

Bank of Thailand Progresses With Digital Baht Tests Before Public Launch Read More »

The Japanese Government has continued its acceleration towards a Central Bank Digital Currency (CBDC) and is set to include its consideration in its formal economic plan. In a report from Nikkei on July 14, Japanese officials will continue to consider and discuss a CBDC in their official Honebuto Plan for Economic and Fiscal Revitalization. The Japanese government …

Japan Will Include Central Bank Digital Currency in Honebuto Economic Plan Read More »

The Beijing government has released its first blockchain application blueprint for government services, claiming 140 applications already use the technology.The Beijing government will release its first blockchain application blueprint on government  services in China today, according to the local news on July 15.   According to the blueprint, 140 government service applications are already on the blockchain. …

Beijing: 140 Government Services Applications Are Using Blockchain Read More »

In a letter to the European Commission in March 2020, payment giant PayPal has now confirmed that has it is actively working to bring cryptocurrencies capabilities on its platform. In the detailed letter, PayPal said that it has taken tangible and unilateral steps to further develop its capabilities in the cryptocurrency space. In June 2020, sources emerged …

PayPal Confirms Its Plan to Develop Cryptocurrency Capabilities in its Letter to the European Commission Read More »

The Bank of England has confirmed it is considering the development of a central bank digital currency (CBDC). The confirmation was made by the governor of the bank Andrew Bailey in a webinar session with college students. He said: “We are looking at the question of, should we create a Bank of England digital currency. We’ll go on looking …

Bank of England is Considering Developing a Central Bank Digital Currency Amid Surge in Crypto Popularity Read More »

The Monetary Authority of Singapore (MAS) and government-owned conglomerate Temasek released the final report of the Singaporean CBDC project, Project Ubin. The report is the fifth and final phase of Project Ubin, Singapore’s blockchain-based multi-currency payments network prototype that was built for the financial industry and blockchain ecosystem. Singapore’s central bank introduced Project Ubin in November 2016, …

MAS Announces Project Ubin’s Successful International Settlement Network in its Final Phase Report Read More »

G20 officials announced on July 11 that they would begin laying the regulatory groundwork for the group to accept digital payments. Digital currency payments may become a reality for G20 members before the next summit in Saudi Arabia. As reported by Kyodo News on July 11, officials revealed that the G20 summit compromising representatives from 19 countries …

G20 Lays Regulatory Groundwork for Accepting Digital Payments Read More »

The Italian Banking Association, Associazione Bancaria Italiana (ABI), chose to leverage the blockchain-based system Spunta, as they could not identify an appropriate single actor to run a centralized system. The Italian Banking Association’s Chief Innovation Officer Silvia Attanasio revealed why the ABI has chosen to use a decentralized blockchain system, Spunta DLT, as opposed to …

Italian Banking Association Chose Decentralized Blockchain Route Read More »

The Commodity Futures Trading Commission (CFTC), which regulates the U.S. bitcoin and ether derivatives markets, plans to develop a digital asset innovation blueprint by 2024. ·        “We will develop a holistic framework to promote responsible innovation in digital assets,” the swaps regulator teased in its 2020-2024 Strategic Plan, released Wednesday. ·        This “holistic framework” will help keep the CFTC apace …

CFTC Hints at Future Digital Asset Regulatory Framework Read More »