TagReserve Bank of Australia

No Point of a Central Bank Digital Currency in Australia: Assistant Governor

Australia is not likely to see a central bank digital currency (CBDC) any time soon as the country’s reserve bank is of the view that the existing system ‘works well’. Speaking at this year’s Swift International Banking Operations Seminar (SIBOS) currently underway in Sydney, the assistant governor of the Reserve Bank of Australia (RBA), Michelle Bullock, said that the apex bank has yet to find a...

Australia Central Bank Admires Bitcoin But Says It Has 'Flaws'

reserve bank of australia

"Even if one is quite skeptical of whether bitcoin will have a significant role in the economy in the future, I think it is hard to avoid some admiration for its design," Reserve Bank of Australia official Tony Richards thus addressed bitcoin and cryptocurrencies in general in a speech to the Australian Business Economists in Sydney on Tuesday. Dr. Richards, the head of the bank's payments policy...

Cryptocurrencies Raise “Significant Issues” for Authorities: Australia’s Central Bank

Australia’s central bank addressed the growing popularity of cryptocurrencies like bitcoin in a parliamentary committee testimony. The Reserve Bank of Australia (RBA) has joined a growing list of regulatory counterparts around the world in discussing its regulatory stance and views on cryptocurrencies. Earlier this month, the deputy director of the Philippines' central bank spoke about the...

Australia’s Central Bank is Studying Blockchain Technology

Blockchain

A newly published assessment of the Reserve Bank of Australia’s take on the current financial system has revealed multiple endeavors by the central bank to study and develop blockchain solutions. The Reserve Bank of Australia’s report [PDF] on new developments on financial infrastructure has notably pointed to the establishment of a previously unknown ‘internal working group’ to consider the...

Australian Reserve Bank Sees a Digital Dollar Future

The future could be one wherein the Australian dollar could cease to exist through physical notes and coins to become digital instead. In a recent speech given by Tony Richards, head of the Reserve Bank of Australia (RBA)’s payments policy department, he revealed that the RBA had kept a watchful eye on the growth in demand for digital currencies such as Bitcoin, to speculate and believe that...

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