ECB official: Digital Euro could come out by 2026

    The European Union could issue a digital euro within four years, a senior official from the European Central Bank (ECB) said. Peer-to-peer payments could be a first test case, though no final decision has been made yet. “At the end of 2023 we could decide to start a realization phase to develop and test the…

    Argentina’s central bank blocks banks from offering crypto amid IMF pressure

    Argentina’s central bank (BCRA) has banned financial institutions from offering unregulated digital assets services. The move comes roughly a month after the International Monetary Fund (IMF) approved a $45 billion loan facility that required the country to discourage the use of cryptocurrencies. On May 5, BCRA announced that financial institutions cannot enable their clients to…

    Regulating the Crypto Wild West

    Digital assets present both opportunities and challenges that the regulators have to deal with, says Raghuram G. Rajan, former governor of the Reserve Bank of India. A well-functioning financial system is a key component of any successful economy. Without efficient payments and broadly accessible financial services, people cannot engage easily in commerce, save for a…

    Qatar Central Bank explores CBDC and digitized payments

    The Qatar Central Bank (QCB) is currently exploring a central bank digital currency (CBDC) and digital bank licensing, a top official said. The Middle Eastern nation is also weighing issuing licenses for digital banks as it seeks to digitize payments. The Qatar Central Bank intends to soon reveal its direction on CBDCs, Alanood Abdullah Al…

    BIS and four central banks to develop multiple CBDCs platform prototypes

    The Bank for International Settlements (BIS) Innovation Hub collaborated with central banks from Australia, Malaysia, Singapore, and South Africa to develop prototypes of two versions for an international settlement platform that uses different central bank digital currencies (CBDCs). According to the executive summary of the report, the project’s first phase was successful in developing functioning…

    Sanctions and trade: Iran aims to develop a CBDC

    While the Iranian central bank announced its intention to launch a CBDC, exact details are still scarce, writes Wahid Pessarlay on Cointelegraph. As payment methods continue to evolve, new innovations are improving financial infrastructures that have been in use for years. Currently, central bank digital currencies (CBDCs) are a topic that has grabbed the attention…