Bank of Canada says no to retail CBDC in reshuffling of priorities
Regulating and speeding up payments without a CBDC are more important to the Canadian central bank.
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Regulating and speeding up payments without a CBDC are more important to the Canadian central bank.
A new law in North Carolina seeks to ban CBDCs in the state, but there are questions about whether the new legislation is even legal.
The small Central Asian country is currently taking public comments on its framework legislation.
India has taken a cautious approach to introducing a CBDC, while local authorities have also refused to regulate crypto transactions.
The bill received strong support in the General Assembly. Now, the state Senate will consider overturning the veto.
The BOE is considering applying DLT to its existing settlement system and introducing a wCBDC.
The small country on the Arabian Peninsula sees CBDC as part of its national development strategy.
Nym CEO Harry Halpin tells The Agenda podcast that artificial intelligence makes it easier than ever to conduct surveillance against activists and dissidents.
Unlike other types of electronic money in Iran, the digital rial doesnt require interbank settlement to transfer funds between buyers and sellers.
The country plans to have a legal framework and regulatory sandbox in place for CBDC introduction as necessary.
The House majority whip and crypto advocate thinks the FIT21 may pass in the current Congressional session.
The potential misuse of the CBDC technology trumped arguments about innovation or even good legal drafting.
While Hong Kong residents can sign up for a digital yuan wallet with a phone number, the CBDC is currently restricted to cross-border transactions and cannot be used for person-to-person transfers within Hong Kong.
XRP’s current price has been highlighted by a range of around $2.5 in the past three days. However, this low price hasn’t stopped the idea of an extravagant XRP price from being in the hearts of XRP bull traders and enthusiasts. Against this backdrop of growing confidence, a bold theory suggesting that XRP could surge to $10,000 has come up from a crypto analyst. This extravagant price point is much higher than most predictions based on technical analysis. Notably, this analyst leaned on XRP fundamentals with XRP to show a scenario where its price reaches this point. Analyst Predicts XRP Could Hit $10,000 Between 2027 And 2030 The theory, introduced by a crypto analyst named Remi Relief on the social media platform X, centers on a long-term vision of XRP reaching $10,000 due to widespread adoption in financial institutions and complete activation of its utility features. Related Reading: Analyst Says These Factors Will Drive XRP Price To $1,000, But What Does Market Cap Say? In a post dated May 12, the analyst predicted that this massive XRP price point of $10,000 could materialize between 2027 and 2030. He clarified that the prediction wasnt dependent on sudden events or institutional price setting but on the natural outcome of XRP functioning at its full potential in global financial systems. However, he also stated that such a price point could manifest as early as 2026. Building on the original post, the analyst has recently expanded on a more detailed vision of a $10,000 XRP. He claimed the existence of two separate XRP ledgers: one for the retail market and another accessible only to around 1,700 institutions and private entities operating under NDAs. According to him, these private participants could already be running tests with drastically different price levels, possibly including the $10,000 mark. He linked this development to recent progress in CBDC trials, especially in France. The analyst also referred to a report discussing the efficiency and performance of various digital currency and payment platforms in terms of Transactions Per Second (TPS) back in 2022. The report focused on CBDC (Central Bank Digital Currency) test networks. According to the report, the Ripple Private Ledger had a TPS of 1,500 in 2022 during tests for the digital Euro. Although Ripple is not yet at the operational scale of AliPay or the Hamilton Project, future projections of the blockchains TPS are still unknown. The Possibility Of A $10,000 Basement Price For The Altcoin The crypto analyst’s theory is based on a future where XRP underpins major financial operations at fixed high values across private networks. The most provocative element of the theory involves Ripple potentially setting a basement price for XRP at $10,000, which would never be breached. Related Reading: XRP Price At $10-$20 Only The Beginning, Its Headed For $1,000 Analyst Reveals In this scenario, if the price ever threatened to fall below that mark, decentralized technologies like Chainlink oracles and IOTA-based AI mechanisms would intervene to stabilize it through automatic trading. At the time of writing, XRP is trading at $2.40, down by 2.2% in the past 24 hours. Featured image from Getty Images, chart from Tradingview.com
Investigative journalist James Corbett has recently referred to the ongoing global banking crisis involving SVB, Signature Bank, Credit Suisse and others as the “Panic of 2023,” drawing comparisons to what he views as historical precedents, and pointing ahead to an inevitable and bleak, technocratic surveillance future leveraging central bank digital currencies (CBDCs) should nothing be [...]
The post ‘Panic of 2023’: James Corbett Explains How Bank Crisis Could Lead to CBDC ‘Nightmare of Total Monetary Control’ appeared first on Crypto Breaking News.
The move comes as Australians continue to reduce their usage of cash and bank branches, but has sparked fears that the death of cash is near.
Federal Reserve Chairman Jerome Powell engaged with the Senate Banking Committee, signaling that the U.S. is just beginning to contemplate the introduction of a central bank digital currency (CBDC). Powell Assures No Direct Fed Accounts in CBDC Plans, Seeks Congressional Go-Ahead In his conversation with the Senate Banking Committee, Fed Chair Jerome Powell explored the [...]
The post Fed Chair Powell Eases CBDC Concerns: US Far From Direct Fed Accounts, Emphasizes Need for Congressional Approval appeared first on Crypto Breaking News.
Sweden's Riksbank concludes its e-Krona pilot, highlighting the development of offline payment technologies like "shadow wallets" and payment cards. (Read More)
The real-world assets platform, Gluwa, is exploring the potential to assist in the development and launch of Liberias central bank digital currency. To increase the likelihood of the digital currencys success, Gluwa is also considering the launch of a satellite-based internet service. Making the Digital Currency Compatible with Liberias Mobile Money System Gluwa, a real-world [...]
The post Real-World Assets Platform Gluwa Considers Developing Liberias CBDC appeared first on Crypto Breaking News.
Standard Chartered, in collaboration with PwC China, have co-published a comprehensive white paper detailing the potential advancements in the future of banking, courtesy of Central Bank Digital Currency (CBDC). (Read More)
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