The BIS Wants “Absolute Control” Of Your Money Via Central Bank Digital Curre...

In a speech on Monday, Yves Mersch, Member of the Executive Board of the European Central Bank (ECB), discussed how the bank could design, issue, and manage a central bank digital currency for everyone, to be used alongside cash. One of the two types considered was a cash-like digital currency with anonymity. The proposed central bank digital currency or....

Jonas Gross spoke with Cointelegraph about the digital euro’s risks for private banks and the goals of the ECB. The European Central Bank (ECB) is planning to launch a prototype of the digital euro in 2023. In the next five years, Europe could have its own central bank digital currency (CBDC) up and running. However, there are still many questions surrounding the prospective digital currency. In what form could it be issued? Is the ECB too late to the CBDC party, especially compared to other central banks such as that of the People’s Republic of China? To address these and other questions,....

The Central Bank of Brazil (Banco Central do Brasil) has issued a digital currency warning, joining the central banks of India, China and many other large economies across the globe in outlining risks associated with digital currencies. The Brazilian warning does not bring anything new to the table, it reads like similar statements issued by other national regulators over the past few months. The bank points out that digital currencies should not be confused with electronic money, as defined by Brazilian legislation. Unlike digital currencies, electronic money is governed by various....

India’s central bank, the Reserve Bank of India (RBI), is launching its first digital rupee pilot on Nov. 1. with the participation of nine banks. “Settlement in central bank money would reduce transaction costs by pre-empting the need for settlement guarantee infrastructure or for collateral to mitigate settlement risk,” said the central bank. RBI’s First CBDC Pilot Starts Nov. 1 India’s central bank, the Reserve Bank of India (RBI), announced Monday that “The first pilot in the digital rupee — wholesale segment (e₹-W) shall commence on November 1,....

The Bank of Ghana has said the expected implementation of the central bank digital currency will not disrupt or negatively impact the operations of mobile money operators. Rather, the central bank expects the digital currency to improve the efficiency of Ghana’s settlement systems as well as to “fast-track cross border trade.” CBDC to Complement Mobile Money The Ghanaian central bank has moved to allay fears that the implementation of the central bank digital currency (CBDC) known as the e-cedi might adversely impact the operations of mobile money operators....