CBDCs
Bank of International Settlements Says China's Digital Yuan Will Not Have 'First Mover Advantage'
Bank of International Settlements General Manager Agustin Carstens pushed back against claims that China's digital yuan would give the country a "first mover advantage" in the world of CBDCs. Though Carstens didn't directly name China, his speech challenged "overblown" rhetoric that any one CBDC would become the world's reserve currency based on "digital nature alone." Nik De breaks it down.
Eastern Caribbean Central Bank Digital Dollar Rollout Begins Wednesday
The Eastern Caribbean Central Bank launched its central bank digital currency (CBDC) rollout Wednesday, allowing people in Eastern Caribbean islands to spend and earn money in DCash, a digital version of the Eastern Caribbean dollar. We hear from Brian Popelka of Bitt, a key partner in the project.
Digital Yuan Won’t Give China ‘First-Mover Advantage’ With CBDCs, BIS Chief Says
"Digital nature alone" will not be enough to give any one CBDC an edge as an international reserve asset, the BIS general manager asserts.
Bank of Japan Forms Committee to Coordinate CBDC Efforts
Through the committee, the BOJ said it will update the private sector and policymakers and seek input on the next steps regarding a CBDC.
Germany’s Central Bank Is Testing Blockchain-Based Alternatives to CBDCs
Germany’s Central Bank is less enthusiastic about a digital euro than its other European counterparts, citing concerns that central bank digital currencies (CBDCs) could destabilize the banking system and penalize savers. “The Hash” panel discusses the pros and cons of CBDCs.
China Proposes Global Rules for Monitoring CBDCs
China is leading major nations in the development of a CBDC but the digital yuan project has raised concerns.
Germany's Central Bank Tests Blockchain Solution to Counter CBDCs
The Bundesbank has been looking for settlement solutions that do not require a CBDC.
Jamaica's Central Bank to Pilot CBDC Beginning in May
The Bank of Jamaica will pilot the CBDC in its fintech regulatory sandbox from May to December.
Brian Brooks: Does the Digital Dollar Have to Be Built by the Government?
Former Acting Comptroller of the Currency Brian Brooks reacts to Powell’s and Yellen’s comments on the digital dollar project, saying a “government-issued digital dollar doesn’t fulfill the promise of a network-based economy … the way that private stablecoins do.” Brooks says that “most good things in our lives were built by the private sector.