A Central Bank Digital Currency May Lead to All Kinds of Monetary Chaos, says Korea’s Central Bank

A Central Bank Digital Currency (CBDC) is not good for a country’s financial stability, said the Bank of Korea in its latest report. Dubbed as ‘Central Bank Digital Currency and Financial Stability,’ the study found that the introduction of CBDC deposits would radically decrease the supply of private credit by commercial banks. As a result, … Read more

70% of Central Banks are Working on Digital Currencies, No Hurry to Issue Them: BIS

A survey commissioned by the bank of central banks, the Bank of International Settlements, has disclosed that even though Central Bank Digital Currencies (CBDC) are being researched by a big number of reserve banks, the work is mostly conceptual. Consequently, only a handful of them have any intentions of issuing a CBDC in the near … Read more

‘Too Early’ for Central Bank Digital Currency: India Shelves Plans for a Crypto Rupee

India Central bank digital currency crypto rupee

Plans to issue a state-backed cryptocurrency in India have stalled, months after the country’s central bank gave indications that it was considering the idea. According to The Hindu Business Line, the government is no longer interested in the state-backed digital rupee. Citing a source, the report by the publication indicated that the idea of a … Read more

Bank of Thailand Governor: No Central Bank Digital Currency Within 3-5 Years

Thai citizens will have to be patient in the wait for a retail central bank digital currency that will save them from carrying cash around. According to the governor of the Bank of Thailand (BoT), Veerathai Santiprabhob, plans to switch from cash to a digital currency will not happen within the ‘next 3-5 years’. This … Read more

Central Bank of Azerbaijan Rules Out Issuing Cryptocurrency

Azerbaijan cryptocurrency

The Central Bank of Azerbaijan (CBA) has indicated that it does not intend to issue a state-backed cryptocurrency, also known as a central bank digital currency (CBDC). Speaking to reporters in Baku on November 15, CBA first Chairman Alim Guliyev stated that the Bank treats cryptocurrencies conservatively, based on a belief that the use of … Read more