The U.S. House of Representatives Financial Services Committee Will Approve an Amendment Bill to Ban the Application and Testing of Unapproved CBDC

According to reports, Patrick McHenry, chairman of the U.S. House Financial Services Committee, will approve two amended bills that prohibit the application and testing of unauthorized CBDC. One of the bills is the Digital Dollar Pilot Program Prevention Act, which prohibits the Federal Reserve from launching a CBDC pilot program without congressional approval.

Representative Tom Emmer Reintroduces Bill To Prevent Unelected Bureaucrats From Issuing CBDCs and Protect Financial Privacy

Representative Tom Emmer and 49 co-sponsors have reintroduced the "CBDC Anti-Surveillance State Act" in the US House of Representatives to prevent unelected bureaucrats from issuing a central bank digital currency (CBDC) and protect Americans' financial privacy. Emmer claims that President Biden is willing to compromise financial privacy for a surveillance-style CBDC.

Visa Executive: Visa Payments Will Involve Multiple Blockchain Networks, Stablecoins, CBDC, etc.

Cuy Sheffield, head of Visa's blockchain, said in a blog post on Wednesday that despite various flaws and issues, blockchain technology is similar to the early days of the Internet and is developing from obscurity to ubiquity. Sheffield believes that blockchain technology - in terms of efficiency, related costs, and usability - may mature in the next decade.

Chinese Central Bank Official Calls for Digital Yuan to be Available in All Retail Payment Scenarios

According to a senior official at the People's Bank of China, the digital yuan must be available for all retail payment scenarios, including wallet providers such as WeChat, Alipay, and commercial banks with mobile banking apps. Compliance requirements and relevant financial licenses must also be obtained. The use of QR code payment systems, which is already widespread in China, will be unified to achieve barcode interoperability.

Yes Bank integrates UPI with Reserve Bank of India CBDC app

Yes Bank has announced that it has enabled interoperability with the Unified Payments Interface (UPI) on the Central Bank Digital Currency (CBDC) application of the Reserve Bank of India (RBI). Users can seamlessly transact by scanning any UPI-enabled QR code through the Yes Bank Digital Rupee application. The Yes Bank application marks the first integration of UPI with CBDC. <br>

RBC Analyst: The Federal Reserve May Take a Gradual Approach to CBDC Development

Analysts at the Royal Bank of Canada predict that the Federal Reserve will take a gradual approach in developing CBDCs (i.e. digital dollars). In the report released this week, Royal Bank of Canada analyst Atul Bhatia believes that the Federal Reserve may take a more cautious approach, rather than issuing mature retail and wholesale CBDCs. He said, "We believe that the Federal Reserve will continue to emphasize gradual technological improvements, rather than risking a transformation of payment infrastructure. Despite the hype surrounding CBDCs, we have seen many concerns regarding security, privacy, and governance, which we believe outweigh the theoretical efficiency gains." He added, "In the foreseeable future, commercial bank accounts and physical cash may still be at the core of the US financial infrastructure."

MiCA regulatory architect to lead plans for digital euro

European Parliament (MEP) stated on Wednesday that German parliamentarian Stefan Berger will lead the development of new legislation supporting the digital euro. Stefan Berger was the architect of the EU's milestone encryption law MiCA. It is reported that the European Central Bank has not yet officially decided whether to issue a CBDC, but has invested a lot of resources in technical planning.

Mastercard Launches CBDC Partner Program with Ripple, Consensys, and Fireblocks to Learn from Key Players in Digital Currency Space

Mastercard has launched a new program to collaborate with key players in the central bank digital currency (CBDC) space. The global value of CBDCs is expected to grow to over $200 billion by 2030, with most transactions being domestic. Mastercard is teaming up with companies such as Ripple, Consensys, and Fireblocks to learn from each other. The author discusses the potential of electronic cash to provide a platform for new products and services, and Mastercard is working with industry partners to address questions about CBDC issuance, security, privacy, and interoperability.

Mastercard Launches CBDC Partner Program with Ripple and Other Firms

Mastercard has launched the CBDC Partner Program, which aims to engage key players to drive CBDC innovation and efficiency. The program's inaugural partners include Ripple, Consensys, Consult Hyperion, Fireblocks, Fluency, Giesecke+Devrient, and Idemia. <br>

Central Bank of Colombia: Setting restrictions on CBDC transactions may be beneficial to solve user privacy and security-related issues

Central Bank of Colombia has not yet decided whether to issue a Central Bank Digital Currency (CBDC), but the Central Bank of Colombia believes that setting restrictions on CBDC transactions may bring many benefits, and setting restrictions on CBDC transactions may help solve privacy and security-related issues for users.