US lawmakers introduce bill to prevent digital dollar pilot program

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US presidential candidate supports Bitcoin, criticizes CBDCs

U.S. presidential hopeful Robert Kennedy Jr. has supported Bitcoin (BTC) while speaking against central bank digital currencies (CBDCs) in a May 5 Twitter thread. According to Kennedy, currency digitization has already given the government unprecedented powers to surveil and control economic life. He believes CBDCs would further “magnify the government’s power to suffocate dissent by…

US lawmaker says CBDCs are tools for coercion and control

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Israel reveals potential scenarios that could lead to CBDC issuance

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UK exploring a digital pound

A digital pound could be launched in the U.K. as part of the country’s effort to introduce better regulation to the crypto industry. Jeremy Hunt, the Chancellor of the Exchequer, announced that the government will begin exploring a central bank digital currency in the coming weeks. Hunt said that the U.K.’s financial regulatory framework “must…

Fed Vice Chair warns banks about crypto liquidity, urges stablecoin regulation

Federal Reserve Bank Vice Chair Michael Barr said that banks accepting crypto deposits should be aware of their increased liquidity risks in an Oct. 12 speech published on Oct. 17. Barr stated that there are heightened liquidity risks when traditional banks do business with crypto firms, as such banks could be exposed to liability from…

China floats pan-Asian digital currency built on blockchain

China-backed researchers have called for establishing a pan-Asian digital currency to end the dominance of the U.S. dollar in the region, South China Morning Post reported on Oct. 13. According to the report, the economic conditions for creating a regional digital currency are now in place in East Asia. “More than 20 years of deepened…

Ripple hints at new CBDC announcements

Ripple’s (XRP) advisor on central bank digital currency (CBDC), Anthony Welfare, revealed that the company has “several pilots” in the works related to CBDCs which will be made public in the coming weeks. Thanks @sentosumosaba for the mention – make sure you follow me for more CBDC announcements in the next few weeks 👌👌👌 —…

Israeli central bank yet to make decision on pursuing CBDC despite public support

The central bank of Israel has yet to decide whether to create a digital version of its fiat currency shekel, despite the public supporting the notion, Reuters reported. Bank of Israel considering CBDC Discussions over creating digital shekels have been going on since 2017, but the central bank only began to take it seriously in…