Tagged: digital dollar

January 16, 2025 @ 5:13 pm By JD Alois  |  

Scott Bessant, incoming President Donald Trump’s selection to become the Secretary of the Treasury, is not supportive of a CBDC or central bank digital currency. A graduate of Yale, Bessent is a hedge fund manager who worked for George Soros at one time, but today,… Read More

May 23, 2024 @ 2:26 pm By JD Alois  |  

The US House of Representatives has approved legislation aimed at deterring the use of a central bank digital currency, or CBDC. The CBDC Anti-Surveillance State Act (HR 5403) vote was 216 for and 192 against.  22 members did not vote. While all of the Republicans… Read More

March 8, 2024 @ 4:47 pm By JD Alois  |  

Yesterday, testifying in front of the Senate Banking Committee, Jerome Powell, Chair of the US Federal Reserve, was asked several questions about a digital dollar or Central Bank Digital Currency (CBDC). Powell first pointed to the fact that most transactions are digital today as consumers… Read More

January 19, 2024 @ 4:46 pm By JD Alois  |  

Donald Trump touched on the topic of Central Bank Digital Currency (CBDCs) recently, and he is no fan of the concept. A digital dollar is being discussed at the US Federal Reserve and on  Capitol Hill in general. The Fed has been partnering with MIT… Read More

November 6, 2023 @ 5:03 pm By JD Alois  |  

The US Federal Reserve recently published a paper on the potential impact of a Central Bank Digital Currency (CBDC) on the financial system. Currently, many jurisdictions around the world are investigating the possibility of issuing a digital currency – including the US. China is already… Read More

September 12, 2023 @ 2:58 pm By JD Alois  |  

The House Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion has posted the witnesses on its forthcoming hearing on a digital dollar. Entitled the Digital Dollar Dilemma: The Implications of a Central Bank Digital Currency and Private Sector Alternatives, the hearing is paired… Read More

September 9, 2023 @ 3:17 pm By Omar Faridi  |  

Austin Federa, head of strategy at the Solana Foundation, recently noted that firms such as Visa (NYSE: V)  expanding their stablecoin capabilities via the Solana network enhances the perception of the crypto space, which has witnessed numerous scandals and lawsuits during the last few months…. Read More

September 7, 2023 @ 4:26 pm By JD Alois  |  

The House Financial Services Committee has announced a hearing on the digital dollar or Central Bank Digital Currency (CBDC), held by the Subcommittee on Digital Assets, Financial Technology (Fintech), and Inclusion. Scheduled to take place on Thursday, September 14 at 2PM ET, the hearing is… Read More

August 10, 2023 @ 10:58 am By JD Alois  |  

There has been a lot of discussion about the US Dollar remaining the top reserve currency around the world. Having the dollar be the big dog in the realm of fiat brings a lot of benefits to the US and must be a leading policy… Read More

August 9, 2023 @ 12:55 pm By Omar Faridi  |  

The Digital Dollar Project announced the completion of a pilot study conducted in collaboration with The Western Union Company, BDO Unibank, Inc. (BDO Unibank) in the Philippines, and support from Accenture. This collaboration represents the Digital Dollar Project’s latest private sector efforts “in support of… Read More

August 9, 2023 @ 12:15 pm By Omar Faridi  |  

On July 30th, 2015, the Genesis block of Ethereum was created. Eight years later, today Ethereum is the dominant blockchain network “with growing developer interest, lower transaction fees, and faster settlement times.” Yet, fewer than 0.5% of the 100 million developers worldwide “are actively building… Read More

August 6, 2023 @ 2:34 pm By Omar Faridi  |  

The researchers at Coin Metrics have shared an update, titled, “Decoding the Digital Dollar: Unraveling the Risks of Stablecoins.” Lucas Nuzzi and Kyle Waters from Coin Metrics have noted that earlier this month, the U.S. House Committee on Financial Services convened “to discuss proposed legislation,… Read More

June 7, 2023 @ 9:20 am By JD Alois  |  

The House Subcommittee on National Security, Illicit Finance, and International Financial Institutions, part of the Financial Services Committee, is holding a hearing today on the dominance of the dollar around the world as a reserve currency. The hearing is entitled Dollar Dominance: Preserving the U.S…. Read More

May 30, 2023 @ 5:05 pm By JD Alois  |  

The economist that publicly stated the internet would never amount to much comparing it to the fax machine – Paul Krugman is slamming Governor Ron DeSantis’ opposition to a digital dollar or a central bank digital currency (CBDC). DeSantis officially announced his candidacy for President of… Read More

May 9, 2023 @ 9:45 pm By Omar Faridi  |  

The Bank of Canada is launching an online public consultation on “the features that could be included in a digital Canadian dollar.” The consultation opened on May 8, 2023 and runs until June 19. The way Canadians pay for everything from the daily necessities “to… Read More

April 18, 2023 @ 12:00 pm By Barry James  |  

As the USA House Subcommittee on Digital Assets, Fintech, and Inclusion, hold a hearing on stablecoins Wednesday, April 19, 2023, in the USA, in the UK, and around the world, attempts to shoe-horn digital money from central and private banks (CBDCs and Stablecoins) into existing… Read More

April 17, 2023 @ 9:49 am By JD Alois  |  

On Wednesday, April 19, 2023, the House Subcommittee on Digital Assets, Fintech, and Inclusion, will hold a hearing on stablecoins. The hearing is being joined by draft legislation that may end up providing a viable path to regulate this new form of payments and transfers…. Read More

March 21, 2023 @ 10:05 pm By JD Alois  |  

Florida Governor Ron DeSantis, widely expected to enter the presidential race in the coming months, is aiming to put a stop to central bank digital currency (CBDC) being utilized in his state, and all of the United States for that matter. “Central Bank Digital Currency… Read More

February 19, 2023 @ 7:35 pm By JD Alois  |  

As the world knows, most central banks in the developed world are investigating the benefits and risks of issuing digital currency. While the bulk of transactions is already handled electronically today, the thesis is that by incorporating new technology, a digital currency – or digital… Read More

October 19, 2022 @ 2:09 pm By JD Alois  |  

The concept of a central bank digital currency (CBDC), privately issued stablecoins, and digital currency, in general, has swirled together for some time now. Some policymakers and pundits believe that for the dollar to continue to reign as the world’s default currency, it must move… Read More