Russia and its trade partners are developing new financial systems and currencies to get around economic pressure from the West, particularly the United States and Europe. These efforts aim to reduce the world’s dependence on the US dollar and Western-controlled financial networks, allowing Russia to keep its economy running despite
The European Central Bank (ECB) is designing the digital euro to be one of the most private electronic payment options available, with plans for a rollout by 2025. Despite strong privacy assurances, concerns persist about whether the ECB can truly prevent government surveillance. While the digital euro aims to minimize
International Monetary Fund Managing Director Kristalina Georgieva stated that the IMF is “working hard” on a global central bank digital currency platform. The International Monetary Fund (IMF) is “working hard” on a “global CBDC (Central Bank Digital Currency) platform,” the IMF managing director announced Monday. “If we are to be
The Reserve Bank of Zimbabwe has announced that Zimbabwe will launch a gold-backed digital currency, dumping the US dollar. Zimbabwe has become the latest country to dump dollar and has decided to issue gold-backed digital currency for “investment purposes with a vesting period of 180 days.” The country’s central bank
According to a report, the Reserve Bank of Zimbabwe is planning to issue a gold-backed digital currency.
Speaking at the Innovate Finance Global Summit on Monday, Sir Jon, the deputy governor of the Bank of England, said that “you won’t be able to spend physical cash in the near future.”
Sen. Bryan Hughes (R) introduced Senate Bill 2334 on March 10, which could result in Texas launching its own gold-backed digital currency if it’s passed.
105 countries are investigating central bank digital currencies around the world in 2022, but the majority of nations are still conducting research.
An article in The Sydney Morning Herald has reported on a pilot program that Australia’s Central Bank is currently working on with BIS to launch a digital currency system, but it has the possibility that the access of citizens to the economy could be cut off at any time should
