China’s Xi Asks G20 Countries to Be ‘Open and Accommodating’ to CBDCs

China’s Xi Asks G20 Countries to Be ‘Open and Accommodating’ to CBDCs

In a wide-ranging speech, Xi said that the G20 group “needs to discuss developing standards and principles for central bank digital currencies.”

Related News

Central bank digital currency could 'threaten' Bitcoin says CZ

Binance boss Changpeng Zhao aired his views on CBDCs adding that Bitcoin could be under threat if a more advanced currency was launched Changpeng Zhao, the enigmatic chief executive of Binance, believes a central bank digital currency that’s designed well enough could become a threat to Bitcoin. In a video interview with Fortune senior writer Jeff Roberts, he was asked how the People’s Bank of China’s digital yuan initiative would affect the crypto industry. Zhao responded that any blockchain or digital currency would be good for the industry overall as it legitimizes digital assets and....

Should We Care if the US Is Falling Behind on CBDCs?

A reading of two recent op-eds on central bank digital currencies (CBDCs).

Central bank digital currencies are dead in the water

CBDCs won’t fundamentally be changing anything — central banks still want to control your wealth and your money. Mark my words: Governments and central banks will never care about your wealth and your privacy as much as you do. That reality is exactly why central bank digital currencies are dead in the water already.They say if you can’t beat them, join them. That’s exactly what CBDCs are attempting to do. They want to join the party that is cryptocurrency without actually giving their citizens the privacy and democratic freedom a truly decentralized digital currency provides.In a recent....

Senior Japanese official fears China being ‘first-mover’ in digital currency

China might gain control over global CBDC standards, a Japanese official warns. Japanese banking officials continue to voice concern over China’s progress in the development of its central bank digital currency.Kenji Okamura, vice-finance minister for Japan’s international affairs, warned the global community of the potential risks of China’s digital yuan, Reuters reported Oct. 9.Okamura said that China’s digital yuan initiative is “moving at a relatively fast pace” as the Chinese government presumably aims to be the first global jurisdiction to adopt a CBDC.“First-mover advantage is....

China’s Digital Yuan Blurs the Lines Between CBDCs and Crypto

An in-depth analysis of China's digital yuan project reveals more similarities to crypto than you might think. Upshot: seismic disruption to the financial system.