CBDC | ForkLog

ForkLog 11 24.01.2025

Better Markets Backs SEC in Ripple Case

Better Markets has thrown its support behind the U.S. Securities and Exchange Commission (SEC) in its legal battle with Ripple Labs. The organisation argues that the decision in the XRP case undermines investor protection. #XRPCommunity #SECGov v. #Ripple #XRP @Ripple Better Markets Inc. has filed an Amicus Brief in Support of the @SECGov.https://t.co/cu8lTLBqtM — James […]

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ForkLog 19 22.01.2025

Morgan Creek CEO Discusses Potential XRP Integration into US Banking System

Beyond Bitcoin, the US national reserve might include other cryptocurrencies such as XRP, ADA, and HBAR. This perspective was shared by Morgan Creek CEO Mark Yusko during an appearance on the Good Morning Crypto show. He noted that the founders of these projects aim to “establish contact” with Donald Trump’s circle, particularly his son Eric. […]

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ForkLog 14 17.01.2025

US Treasury nominee opposes a CBDC

Scott Bessent, the nominee for US Treasury secretary, spoke out against introducing a CBDC. “I do not see any point for the United States to have a central bank digital currency. In my opinion, a CBDC is intended for countries that have no other investment alternatives,” he said at a Senate hearing. Bessent — co-founder […]

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ForkLog 18 18.12.2024

Russia Conducts First Cross-Border Transactions with Digital Financial Assets and Plans QR Code for CBDC

In 2024, Russia conducted its first cross-border transactions with digital financial assets (DFAs), engaging in operations with Belarus. This was reported to Izvestia by Anatoly Aksakov, head of the State Duma Committee on Financial Markets. According to him, the DFA market is expected to experience a breakthrough next year, particularly in the realm of international […]

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ForkLog 15 11.12.2024

India’s Central Bank Plans Transition to a CBDC-Based Economy

India is set to restructure its economy with a central bank digital currency (CBDC) as its foundation, according to Shaktikanta Das, the outgoing head of the Reserve Bank of India (RBI). The official reviewed the efforts to implement new technologies over the past six years. Initiatives included the establishment of an innovation hub in Bangalore […]

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ForkLog 12 27.11.2024

Russian Ministry Urges Delay in Digital Ruble Launch

Russian retail networks require a two-year transition period to prepare for operations with the digital ruble, according to the Ministry of Industry and Trade’s response to a bill on initiating transactions in the national currency, reports Izvestia. The ministry believes the timelines set by the regulator are “excessively swift” and pose risks to trade. “It […]

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ForkLog 5 25.11.2024

Bank of Russia Considers Unified App for Digital Ruble

The Bank of Russia has received a proposal from the ARB to develop a unified mobile application for digital ruble transactions, aiming to reduce infrastructure costs for the new national currency. This was reported by Vedomosti. The digital ruble is planned to be mandatory for implementation in all banks: those with a universal license by […]

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ForkLog 17 23.10.2024

Banks Face Significant Costs to Launch Digital Ruble

Commercial banks will need to invest between 120 million and over 200 million rubles to connect to the national digital currency platform, according to experts interviewed by Kommersant. This includes “costs for infrastructure, ensuring information security, application software, and integration work with existing internal banking systems. As the number of connected clients and transactions grows, […]

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ForkLog 21 04.10.2024

SWIFT to Trial Digital Asset Transactions

From 2025, banks in North America, Europe, and Asia will commence testing digital asset transactions via the SWIFT network. Exciting news! Starting next year, financial institutions from around the world will start trialling live digital asset and currency transactions on the Swift network. This marks an important milestone in our journey to enable banks to […]

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ForkLog 49 04.10.2024

Russian State Duma Committee Endorses AML Regulations for Digital Ruble

The State Duma’s Financial Market Committee has recommended the first reading approval of a bill to extend AML regulations to participants of the digital ruble platform, as reported by Izvestia. The initiative proposes a multi-tiered model for implementing anti-money laundering requirements. All platform users, except credit institutions, will be categorized by the Bank of Russia […]

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ForkLog 24 12.09.2024

Russia’s Central Bank Sets Timeline for Digital Ruble Access

By July 1, 2025, Russia’s largest banks are required to offer clients access to digital ruble operations, including account opening, funding, and transfers. The Central Bank of Russia has submitted the relevant proposals for legislative amendments to the Ministry of Finance. Other banks with a universal license have until July 1, 2026, to update their […]

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ForkLog 28 15.08.2024

Survey Reveals 59% of Russians Uninterested in Digital Ruble

The Bank of Russia plans to expand its digital ruble pilot by September, incorporating dozens of new participants. However, a majority of Russians remain uninterested in using the instrument, according to a survey by VTSIOM. The regulator has stated that the testing of the CBDC is progressing as planned. Currently, around 20 banks are preparing […]

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