News
The initiative comes as enforcement actions and pending market structure legislation raise questions about how privacy tools and open-source developers are treated.
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CBDC News
A central bank digital currency, or CBDC, is a digital version of a region’s fiat currency, put out by the region’s monetary authority. CBDCs gained a significant spotlight in 2020, with numerous countries expressing interest in their own versions of the asset type. Some countries pushed faster than others toward their own native digital currency. China, for example, moved quickly toward the prospect of its own CBDC, called the digital yuan.
The Bahamas burst on the central bank digital currency market in 2020 with the first CBDC. Called the Sand Dollar, the country’s CBDC is a national digital currency for the region, holding the same value as the Bahamian dollar. CBDCs differ from crypto-native stablecoins put out by crypto industry entities. Such stablecoins aim to track the value of underlying assets, such as the U.S. dollar, although the stablecoins themselves are not official regional currencies and are often overseen by companies.
- Analysis
Crypto’s move into banks and state-backed systems is accelerating a clash between financial privacy and public ledger design, said Aleo’s Yaya Fanusie.
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India wants BRICS members to discuss linking their CBDCs for trade and tourism at a future summit, according to a Reuters report.
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In 2024, the Bank for International Settlements stepped back from mBridge, seeking to distance itself from sanctions-related speculation surrounding the platform.
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UK Prime Minister Keir Starmer scrapped plans to make digital ID mandatory for workers after a backlash over “Orwellian” surveillance fears.
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Economists urge EU lawmakers to back a public digital euro, warning that private stablecoins and foreign payment companies threaten Europe’s monetary sovereignty.
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China’s move to pay interest on the digital yuan is colliding with the GENIUS Act’s ban on stablecoin yields, intensifying questions over whether US digital dollars can remain competitive.
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Experts say the digital euro’s outcome hinges on a political compromise with parties fighting for the limits of privacy and online functionality.
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Only three CBDCs have been successfully launched around the world so far, in Nigeria, the Bahamas and Jamaica, although many jurisdictions are considering it.
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A Coinbase executive said changes to the GENIUS Act could weaken US dollar stablecoins as China moves to boost the digital yuan by allowing interest-bearing wallets.
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China’s central bank will let banks pay interest on digital yuan wallets from Jan. 1, 2026, reshaping e-CNY as deposit-like money as the US bans CBDCs.
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The Council of the European Union endorsed the launch of the European Central Bank’s digital euro in both an online and a privacy-focused offline version.
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The European Central Bank plans to enable DLT transactions in 2026 as it prepares for the digital euro issuance and lawmakers establish rules on privacy.
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During a recent AMA, Redbelly Network explained how tokenization, CBDC settlement and deterministic finality can reduce friction across securitization and fund services.
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Norway rules that a digital krone is unnecessary for now, highlighting its strong payment rails and the uncertain benefits of both retail and wholesale CBDCs.
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