Conservative Advocates Condemn U.S. CBDC Development, Encourage Bitcoin Adoption
The Club For Growth published a report exploring the shortcomings of a CBDC while detailing how the technology could fail in providing purported benefits.A conservative advocacy group known as The Club For Growth (CFG) has published a policy brief titled: The Case Against A U.S. Central Bank Digital Currency, per a briefing sent to Bitcoin Magazine. The brief begins by detailing the innovation that is Bitcoin by exploring its immutability, decentralization, speed, trustless operability, and its capacity for disruption by disintermediating the world of commerce and banking. Then, the report....
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The Monetary Authority of Singapore is seeking new retail CBDC solutions with a new global challenge offering cash prizes and expert digital currency mentorship. The Monetary Authority of Singapore, the country’s central bank and a major financial regulator, is challenging fintech companies to pitch solutions for a central bank digital currency, or CBDC.On Monday, the central bank officially announced a global challenge that seeks new retail CBDC solutions which enhance payment efficiencies and promote financial inclusion. As part of the initiative, the MAS is planning to distribute 50,000....
On Friday, the International Monetary Fund (IMF) and the World Bank argued for the cross-border benefits of central bank-issued digital currencies (CBDC), claiming that projects like the United States’ digital dollar would aid global development. World Bank And IMF Support CBDC Together with the Bank for International Settlements (BIS), the two global organisations released a […]
Federal Reserve (Fed) Chair Jerome Powell said the US won’t roll out a CBDC (Central Bank Digital Currency) so long as he’s in charge. Crypto advocates exhaled in relief. President Trump is also strongly against CBDCs – at the end of January, he banned the ‘digital dollar’ development. Ultimately, this gives Bitcoin ($BTC) and altcoins […]
The order focuses on a collaborative government agency effort towards ‘urgent’ CBDC development and Bitcoin and cryptocurrency regulation.
The Bank of England has decided to collaborate with MIT regarding the development of a CBDC. The Bank of England is the latest bank that has expressed interest in exploring the scope of a CBDC. This latest partnership is with MIT’s Media Lab’s Digital Currency Initiative, through which BoE seeks to inspect and understand potential […]