Central Bank Digital Currency

China’s DCEP Unlikely to Impact Crypto Markets in the Long-term, eToro Analyst Says

China is taking a great leap forward to develop a central bank digital currency, with more than 80 patents filed by the People’s Bank last week. The 84 patents filed on Feb. 13 include proposals related to the supply and issuance of a central bank digital currencies (CBDC) as well as interbank settlements using the …

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Mainstream Moments and the CompuServe of Crypto, Feat. Andreas M. Antonopoulos

The best Sundays are for long reads and deep conversations. With the price of bitcoin headed up again, the idea of blockchains and digital currencies has never been more palatable to the mainstream. We’ve seen this cycle before, but could this time be different? Today’s discussion features: Today’s episode features audio clips from CNBC, C-SPAN …

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The Top Narratives Driving Crypto Market Growth, Feat. Travis Kling

The halving? Coronavirus and volatility? Fed action? Listeners vote on what’s driving crypto growth. There’s no denying 2020 is off to a roaring start. From prices to volume to social media, sentiment is up, up, up. But what’s driving it? On this special Valentine’s Day episode, @nlw reacts to listeners’ votes about which narratives are driving …

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Trump’s Fed Nominee Judy Shelton Says US Should Be Proactive on Digital Dollar

Judy Shelton, President Trump’s nominee to the Federal Reserve Board, told lawmakers that digitizing the U.S. dollar could help maintain the currency’s ascendancy in global commerce.  At her Senate confirmation hearing Thursday, Shelton said the U.S. needs fintech innovation to keep ahead of other countries.  “Yes, it is a dominant reserve currency but we can’t …

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Could a Digital Dollar Compete on Privacy? Fed Chairman Powell Hints It Might

Federal Reserve Chairman Jerome Powell has given advocates of financial privacy a glimmer of hope – and hinted at how the U.S. might competitively position a future digitized dollar. In testimony before Congress this week, Powell was asked whether the Fed had any “visibility” into China’s progress developing a central bank digital currency (CBDC). “Yes, …

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Fed Chair Powell Reveals US Response to China’s Digital Yuan, Libra, Public Payments Ledger

</header> <strong>In his testimony before the House Financial Services Committee, Federal Reserve Chairman Jerome Powell answered a number of questions regarding digital currencies. While stating that “a ledger where you know everybody’s payments” is not a problem in China, he believes it is not attractive for the U.S. Admitting that Facebook’s Libra project was a …

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ANALYSIS: The Global Game of Coins Heats Up

China’s digital currency project continues to move ahead aggressively, with a new paper from the People’s Bank of China suggesting that a core design is complete. Whatever stage of development the currency is actually in, it’s clear that China wants the world to see it as ahead of the curve in the digital currency race.  …

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Digital Currencies Won’t Replace US Dollar Any Time Soon: IMF Chief Economist

The chief economist at the International Monetary Fund (IMF) has said digital currencies are not about to challenge the U.S. dollar’s pivotal role in global trade. In an op-ed for the Financial Times on Tuesday, Gita Gopinath, who took over as the IMF’s chief economist in January 2019, wrote that although cryptocurrencies represented “intriguing possibilities,” …

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MARKETS DAILY: Central Bank Digital Currencies and US Dollar Dominance in 2020

With 2019 vanishing in the rear view mirror, Markets Daily is back for an insightful look into Central Bank Digital Currencies (CBDCs) and the US Dollar’s ongoing reserve status. Tune in as CoinDesk podcasts editor Adam B. Levine and senior markets reporter Brad Keoun run down recent action, track interesting longer-term trends, and highlight the …

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China Takes Another Step Away From USD Hegemony

</header> <strong>The China Foreign Exchange Trade System (CFETS) announced that effective January 1, 2020, the system “will adjust weights for CFETS RMB Index,” decreasing the weighting of the USD for the second time in the currency basket’s history from 22.40% to 21.59%, and increasing the Euro from 16.34% to 17.40%. The change could signal further …

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