Russian Central Bank Official Talks National Digital Currency
Olga Skorobogatov, deputy chairman of the Bank of Russia (Russia’s central bank) has, in a blockchain conference, spoken about the possible development and creation of a national digital currency in the Russian Federation. Speaking at the “Blockchain and Open Platforms” conference in Russia, Deputy Chairman of the Bank of Russia Olga Skorobogatov has suggested that a national digital currency is likely to be developed in the future. She cited the increasing relevance of distributed ledger or blockchain technology, an innovation that will come to being used in Russia’s financial markets as....
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Qatar Central Bank is presently examining the possibility of issuing a digital currency as well as digital bank licensing, an official has said. The official adds this study will help the central bank get an understanding of what its area of focus should be.
The Growing Significance of CBDC
An official with the Qatar Central Bank (QCB) has said the institution is presently studying digital bank licensing as well as digital currencies. The official, Alanood Abdullah Al Muftah, the head of the bank’s fintech division, adds the study will enable the QCB to gain a better....
The first pilots of Russia’s digital currency are expected to launch in H1 2021. A number of financial institutions in Russia have expressed interest in testing the country’s central bank digital currency, or CBDC.According to an Oct. 16 report by local news agency Izvestia, at least five Russian banks are interested in taking part in Russia’s non-public digital ruble pilots in the first half of 2021.The list of banks includes state-backed Promsvyazbank, the Credit Bank of Moscow, commercial bank Zenit, mortgage bank Dom.RF, and Crimea’s Russian National Commercial Bank. As reported, the....
Cambodia's central bank - aptly named the National Bank of Cambodia - is refusing to recognize the ever-popular bitcoin as a currency, according to the Phnom Penh Post. The central bank's stance was reportedly confirmed on Wednesday by director-general Chea Serey: "NBC will not recognise a currency that is not issued or backed by a government. Bitcoin's issuer is not a central bank of any jurisdiction," he said. The lack of regulations surrounding the digital currency means that consumers are not protected in instances of fraud and theft, "which has proven to be a daily occurrence in the....
The Central Bank of Russia is testing a number of digital currency pilots toward the development of a national digital currency. Speaking at the 2017 St. Petersburg International Economic Forum today, deputy chairwoman of Russia’s central bank Olga Skorobogatova has, in a significant revelation, stated that the regulator is working on a national digital currency. According to a report by TASS, Russia’s largest news agency, Skorobogatova sees national cryptocurrencies as the future and claimed that it’s merely a matter of time before countries around the world adopt national digital....
El Banco Central de Bolivia, the central bank of the South American nation, has officially banned any currency or coins not issued or regulated by the government, including bitcoin and a list of other cryptocurrencies including namecoin, peercoin, Quark, primecoin and feathercoin. The official policy, launched on 6th May, has recently surfaced to garner coverage from Spanish-language news source PanAm Post, and is the first announcement by the country's central bank on the subject of digital currency according to research from the US Law Library of Congress. A translation of the central....