The Central Bank of Colombia Is Studying the Creation of a Digital Currency
The Central Bank of Colombia is studying the launch of a digital currency, according to statements made by its manager, Leonardo Villar. The organization is evaluating the launch of this instrument as a means of unifying the different digital wallets in the country, making them interoperable and easier to use for customers. Central Bank of Colombia Studies Digital Currency Issuance Many governments in the world are preparing to launch digital currencies in order to compete with cryptocurrencies and other assets. Leonardo Villar, manager of the Central Bank of Colombia, recently....
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Colombia's Central Bank, the Banco Central de Colombia, has reportedly released a statement relating to bitcoin. In that statement, the Central Bank declares that bitcoin is not a currency, nor is it legal tender in the South American country, according to El Espectador. The Bank's statement fortified that the single monetary unit of Colombia is the peso and that bitcoin isn't considered a currency because it is, by nature, not backed by a central banking authority. Last week, the country's Financial Supervisory Authority released a statement that listed risks associated with the digital....
On Tuesday, 1st April, Banco Central de Colombia, the central bank of the South American nation, issued new statements regarding bitcoin, confirming that the digital currency is not considered a currency or a means of legal tender in the country. The news comes roughly one week after the Superintendencia Financiera de Colombia (SFC), the government body with jurisdiction over the Colombian financial system, issued a ruling that domestic banks would be barred from holding, investing in or brokering bitcoin transactions. Said the central bank, according to reports: "The bitcoin is not a....
The Central Bank of Chile revealed it is studying how to issue a national digital currency, the digital peso. The bank issued a report titled “Issuance of a Central Bank Digital Currency in Chile,” where it explores the possibility of the creation of a central bank digital currency (CBDC) in the future, the mechanism it might use, and how it will consult all sectors of the economy on this issue.
Central Bank of Chile Considers CBDC Issuance
More banks in Latam are considering the issuance of their own central bank digital currencies (CBDCs) to take advantage of the....
A national digital currency would help curb tax evasion in Colombia, which is estimated at up to 8% of GDP, the head of Colombia’s tax and customs agency said. Amid Colombia’s economic growth beat expectations in the second quarter, an official at the country’s tax and customs agency has hinted at some national digital currency plans.Luis Carlos Reyes, the head of the Colombian Tax and Customs National Authority, claimed that the government of newly inaugurated Colombian President Gustavo Petro will seek to create a digital currency to prevent illicit financial activity like tax....
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....