Robert F. Kennedy Jr.: If elected president, he will prevent the United States from launching a CBDC
According to Robert F. Kennedy Jr., a candidate for the US presidency, he recently stated that if elected, he pledged to terminate the US's efforts to promote central bank digital currency (CBDC) and said he would do everything possible to preserve paper currency. Kennedy also reminded people that Bitcoin is more protective than cash. (Cointelegraph) Earlier, Robert F. Kennedy Jr. wrote on X platform, "If I become president, I will ensure that your right to use and hold Bitcoin is not violated. Bitcoin is not only a fortress against authoritarianism and manipulation of the money supply, but also points the way to a more transparent and democratic future for government agencies."
UK Advocates Further Study on Digital Pound
The UK has announced plans to design its own central bank digital currency, known as the Digital Pound or Britcoin, in order to keep up with the evolving technology of digital currencies. The UK Treasury and Bank of England have emphasized the need for additional examination of the potential implementation of a CBDC, taking a cautious approach and addressing concerns surrounding privacy and security. The design efforts will focus on assessing feasibility and potential design options, with a decision on whether to proceed with development to be made after consultations on legislation and potential launch. Skepticism from UK lawmakers and concerns from the public have been acknowledged, with privacy and control over funds being prioritized in any legislation introduced for a digital pound.
Bank of England and HM Treasury publish response to digital pound consultation
The Bank of England and the UK Treasury have released their response to the consultation on digital pound. The Bank of England and the UK Treasury have stated that the decision to launch the digital pound will be made no earlier than the mid-2020s. Measures to safeguard the digital pound are currently being developed.
Donald Trump Doubles Down on Opposition to Central Bank Digital Currencies at New Hampshire Rally
During a rally in New Hampshire, Donald Trump reiterated his opposition to central bank digital currencies (CBDCs), stating that he will never allow their creation. He referred to crypto-friendly candidate Vivek Ramaswamy, who recently suspended his campaign after a disappointing showing in Iowa. Trump has previously expressed concerns that a CBDC would give the federal government absolute control over people's money. With the suspension of Ramaswamy and Florida Governor Ron DeSantis, who also criticized CBDCs, digital assets may now take a back seat in the 2024 U.S. presidential race. However, voters in Florida have shown interest in the topic, according to a report by CoinDesk.
Egypt plans to issue central bank digital currency (CBDC) in 2030
Egypt plans to issue a central bank digital currency (CBDC), known as the electronic pound, by 2030. The Central Bank of Egypt (CBE) will issue this digital currency, which is expected to increase the competitiveness of Egypt's domestic currency and improve the efficiency of monetary policy.A research report commissioned by the Egyptian Ministerial Council for Information and Decision Support Center explains the details of the North African country's CBDC goals. The document, called "The Most Important Strategic Directions of the Egyptian Economy During the New Presidential Period (2024-2030)," identifies policies that will be crucial to the Egyptian economy over the next six years.In addition to making the launch of CBDC one of its priorities, the document also urges Egyptian monetary authorities to continue developing the financial sector. Like the launch of CBDC, its goal is to help Egypt achieve 100% financial inclusion by 2030.
Di Gang: The application scenarios of digital renminbi have extended from personal consumption scenarios to corporate services
Di Gang, deputy director of the Digital Currency Research Institute of the People's Bank of China, stated that the pilot scope of the digital yuan has been expanded to 26 pilot areas in 17 provinces and cities. The application scenarios of the digital yuan have extended from personal consumption scenarios to public enterprise services such as salary payments, inclusive loans, green finance, as well as government services such as finance, taxation, public utilities, e-government, and poverty alleviation, providing strong support for the implementation of national strategies and financial services to the real economy.
Benjamin: It’s not yet certain whether central bank digital currencies will be needed in the future
Benjamin, a member of the Monetary Policy Committee of the Bank of England, stated that there is no conclusive answer yet regarding the question of whether a central bank digital currency may be needed in the future.
Bank of Spain partners with Cecabank, Abanca and Adhara Blockchain for CBDC pilot
The Bank of Spain (BDE) publicly called for partners to test central bank digital currency (CBDC) a year ago. On January 3, 2023, the Bank of Spain announced a resolution, declaring a partnership with Cecabank, Abanca, and Adhara Blockchain.
Nigeria’s Compliant Naira Stablecoin cNGN to Launch on February 27
The Central Bank of Nigeria (CBN) has approved the Africa Stablecoin Consortium (ASC) to conduct a cNGN stablecoin pilot in its regulatory sandbox, with the cNGN stablecoin set to launch on February 27, 2024. The ASC, composed of multiple banks and fintech operators in Nigeria, stated that the cNGN stablecoin meets the regulatory requirements and standards set by the CBN, the Nigerian Securities and Exchange Commission, and the Nigerian Financial Intelligence Unit. The ASC is working with regulatory agencies to ensure compliance, consumer protection measures, and transparency. It is reported that the cNGN stablecoin is a complementary product to the Central Bank of Nigeria's digital currency eNaira, rather than a substitute. The ASC will be responsible for supervising the cNGN stablecoin.
Indian digital rupee crosses 1 million transactions in a day
The Reserve Bank of India's digital currency, the digital rupee, surpassed 1 million transactions in a single day on December 27, 2023. Shaktikanta Das, the Governor of the Reserve Bank of India (RBI), wrote in a letter to employees on December 29 that the daily usage of the electronic rupee (CBDC) had "surpassed the milestone of 1 million transactions," and a bank participating in the electronic rupee pilot program encouraged its use for employee funds and benefits instead of using existing fiat currencies.
