Bank of France’s Deputy Governor Discusses CBDC Progress, Regulatory Changes

Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar says central bank digital currencies could “kill whatever little case there could be” for cryptocurrencies, like bitcoin and ether. RBI’s Deputy Governor Discusses Impact of CBDCs on Cryptocurrencies RBI Deputy Governor T. Rabi Sankar talked about the potential impact of central bank digital currencies (CBDCs) on cryptocurrencies, like bitcoin and ether, at a webinar organized by the International Monetary Fund (IMF), local media reported Friday. He was quoted as saying: We (RBI)....

The Rwandan central bank may not know whether it can issue a digital currency until December 2022, when it completes a study that looks at the benefits and risks that come with such a currency, the bank’s deputy governor has said. The Investigation Phase The deputy governor of the Rwandan central bank, Soraya Hakuziyaremye, recently suggested that Rwanda is likely to know the outcome of the bank’s investigation into central bank digital currencies (CBDC) by the end of the year. In her remarks published in The New Times, Hakuziyaremye revealed that the decision to issue or....

Despite the pilot, the central bank's deputy governor said he was apprehensive about launching a full-scale CBDC in Israel, and referred to Bitcoin as a "pyramid scam." The Bank of Israel has reportedly already issued a central bank digital currency through a pilot test of a digital shekel.According to a Monday report from the Jerusalem Post, Bank of Israel deputy governor, Andrew Abir, said the financial institution had started to conduct a pilot program for a digital shekel. Speaking at a conference of the Fair Value Forum of IDC Herzliya, Abir added that he was not optimistic about the....

Deputy Governor of the Bank of England Ben Broadbent has spoken out on the implications of a central bank digital currency (CBDC) for the financial system as we know it. In Broadbent’s lecture at the London School of Economics on March 2, he focused on what a central bank digital currency could look like, and potential economic implications of introducing one. Central Bank Digital Currency A CBDC could be issued by a central bank to widen access to the central bank’s balance sheet. Liabilities on the central bank’s balance sheet include banknotes and commercial bank reserves, and are the....

India’s central bank is carefully considering the merits of issuing a digital rupee as CBDC exploration continues to gather steam across the globe. The Reserve Bank of India could commence preliminary central bank digital currency (CBDC) trials before the end of the year.Speaking to CNBC on Thursday, RBI governor Shaktikanta Das said that the central bank was “being extremely careful” in its handling of a potential digital rupee even as its counterparts around the world are exploring their own sovereign digital currencies.According to Das, the RBI’s focus is on examining the potential....