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What is CBDC?
CBDC, or Central Bank Digital Currency, is a type of digital or virtual currency that is issued and regulated by a country’s central bank. Unlike cryptocurrencies such as Bitcoin or Ethereum, which are decentralized and operate without a central authority, CBDCs are centralized digital currencies. They represent the digital form of a nation’s fiat currency (like the dollar, euro, or yen) and are backed by the authority of the country that issues them.
CBDCs aim to bring the convenience and security of digital forms like cryptocurrencies into the regulated banking sector. They have the potential to streamline payments, reduce costs, and increase financial accessibility. However, their implementation also raises important questions about privacy, security, and the broader impact on the financial system.
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The United States House of Representatives rejects government-backed digital currency emissions and emphasizes monetary privacy concerns. Bipartisan support for precise frameworks on digital currency regulation, including bans on CBDC pilots…
The US House of Representatives passes a bill against Central Bank Digital Currency (CBDC), stressing American financial values and privacy protection. Republicans support regulatory changes for cryptoassets, while Democrats see…
People's Bank of China advances central bank digital currency project, enhancing fast payments through e-CNY integration in Hong Kong. Interoperability milestone achieved by connecting payment system with CBDC, fostering financial…
Chinese population shows limited interest in the digital yuan, as observed in a report by South China Morning Post. Despite significant e-CNY transactions, citizens prefer converting them to physical yuan.…
Challenges and developments in China's digital yuan project, including concerns about low adoption among state employees, high transaction values, and privacy issues. Despite obstacles, the Chinese government emphasizes privacy protection…
Kazakhstan launches Digital Tenge, its Central Bank Digital Currency (CBDC), with innovative payment services and bank partnerships, benefiting over 20 million inhabitants. Altyn Bank, Eurasian Bank, and Halyk Bank adopt…