.avif)
CBDC update 🏦
- 🇵🇭 Philippines and Hong Kong Pilot WCBDCs: The Philippines and Hong Kong are both making strides in Central Bank Digital Currency (CBDC) development. The Philippines unveiled "Project Agila," their pilot program for a wholesale CBDC, wCBDC (Read more), while Hong Kong launched a similar project focused on fostering tokenization. Read more
- 🇺🇸 Fed Prioritizes Privacy in CBDC Development: Federal Reserve Chair Jerome Powell addressed concerns regarding privacy in CBDCs, emphasizing its importance. This is a welcome sign, as privacy is a crucial factor for mainstream CBDC adoption. Read more
Stablecoins and Regulation ⚖️
- 🇭🇰 New Stablecoin in Hong Kong: Conflux Network introduced the AxHKD, a Hong Kong dollar-backed stablecoin. This highlights the growing interest in stablecoins pegged to local currencies, offering price stability for crypto users. Read more
- 🇵🇭 Philippines Embraces CBDCs While Reining in Exchanges: While working on a wCBDC, the Philippine authorities are cracking down on unlicensed crypto exchanges (though Binance remains accessible), painting a picture of a crypto ecosystem experiencing what looks like a coordinated regulatory approach to regain control. Read more
- 🇬🇧 UK Embraces Stablecoins: The UK is set to implement a regulatory framework that considers the coexistence of stablecoins and CBDCs, aligning with EU standards. Clear regulations are essential for fostering innovation, and alignement with EU regulations will bring consistency across the continent. Read More
Other Interesting Reads
- 🌐 BRICS Consider Blockchain Payment System: The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring the development of a blockchain-powered payment system. This could be a significant step towards greater global financial inclusion. Read more
- 🇪🇸 Spanish Authorities Halt Worldcoin Data Collection: Privacy concerns led Spanish authorities to order Worldcoin to halt data collection. This is another reminder of the ongoing debate surrounding data privacy in the crypto world. Read more
- 🏦 Traditional Finance Embraces Crypto: Established institutions like Deutsche Börse launching a spot crypto platform (Read more), Safepal partnering with a Swiss bank (Read more) and Revolut's partnership with MetaMask (Read more) further highlight crypto's growing relevance.
