Payments Dive

AUGUST 29, 2022

The nation’s biggest bank and bank trade groups stressed the risks of creating a central bank digital currency in comments to the Fed, and largely rejected the idea that a digital dollar would accomplish stated goals.

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Payments Source

NOVEMBER 24, 2019

The Cleveland Fed president dismissed concerns about the central bank's faster payments system competing with The Clearing House's network, while saying that a national digital currency is less of a necessity in the U.S. than in other countries.

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Payments Source

AUGUST 21, 2020

The global digital currency race has heightened the threat to traditional monetary policy and the dollar’s dominance, enough for the Federal Reserve of Boston to make a concerted effort to keep pace.

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The Fintech Times

FEBRUARY 26, 2024

As of December 2023, 130 countries, representing 98 per cent of global GDP, were exploring central bank digital currencies (CBDCs) according to the Atlantic Council ‘s CBDC tracker. With so many countries looking towards centralised digital assets, we set out to find out how these would impact the cross-border payments market.

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Payments Dive

APRIL 1, 2022

Ted Cruz's legislation, which follows a companion House bill introduced earlier this year, would prevent the Federal Reserve from issuing a central bank digital currency directly to consumers.

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Fintech News

DECEMBER 10, 2023

The Reserve Bank of India (RBI) has initiated discussions with the Hong Kong Monetary Authority (HKMA) , the US Federal Reserve, and the international payment platform SWIFT to explore the use of central bank digital currencies (CBDCs) for cross-border payments.

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Payments Source

MARCH 11, 2021

Some bank regulators are allowing companies that offer digital currencies to apply for a charter, potentially giving them a path to the Federal Reserve system without proper oversight.

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Federal Reserve Fed Digital Currency Regulations 150

PYMNTS

MARCH 23, 2020

Neither bill specifies the use of any type of digital currency initiative. The Fed would be in control of the digital wallets. In addition, member banks of the Fed can have a “pass-through digital dollar wallet” per the draft bills, as cited by the outlet.

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PYMNTS

OCTOBER 3, 2019

While Philadelphia Federal Reserve Bank President Patrick Harker believes it’s “inevitable” that central banks will eventually issue digital currencies, he warned that the United States shouldn’t be first in line. He admitted that when it comes to the future of the Fed, digital currency will most likely play a part. “I

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PYMNTS

FEBRUARY 5, 2020

The United States Federal Reserve is examining the possibilities and issues surrounding cryptocurrencies and digital payments, which include whether there would be a benefit to the agency issuing a digital currency , according to a report by Reuters.

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Digital Currency Fed Federal Reserve CBDC 52

Payments Dive

DECEMBER 22, 2022

The outgoing senator said he wanted to shield stablecoin activity from the Fed, which is still debating whether to issue a central bank digital currency. Toomey noted the Fed’s “significant skepticism” of stablecoins.

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Stablecoins Fed Digital Currency Central Bank 113

PYMNTS

OCTOBER 9, 2020

In terms of collaboration, as noted in this space, the Federal Reserve is working in collaboration with seven other central banks and the Bank for International Settlements (BIS) to bring together a framework that would smooth the path to digital currency issuance. The Federal Reserve Bank has been exploring a digital currency.

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Payments Dive

NOVEMBER 10, 2022

Researchers designed a prototype digital currency and blockchain and simulated foreign exchange spot transactions that cleared within 10 seconds, but they said the study doesn’t endorse a CBDC or assume the Fed will issue one.

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CBDC Fed Cross-Border Payments Cross-Border 78

Payments Dive

APRIL 17, 2024

central bank digital currency, research staff at the central bank continue to study the possibility. Despite political opposition to a potential U.S.

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PYMNTS

AUGUST 7, 2020

6) symposium highlighting the Fed’s approval of the FedNow system, Fed Gov. The Fed is defining instant payments as a subset of payments in which an end user receives funds in near real time, with immediate interbank settlement of the payment also having occurred. If all goes as planned, that is. In a Thursday (Aug.

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PYMNTS

APRIL 13, 2020

A Treasury-issued digital dollar would be inherently different than, say, the Libra project, which debuted last summer as a consortium backed by a number of companies (with Facebook the presumptive face of the digital currency) which in turn would have been backed by a basket of currencies across the globe.

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Payments Source

JANUARY 17, 2018

The central bank is beginning to consider the possibility of a “digital dollar,” which will foster more efficient and transparent payments.

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Digital Currency Fed Central Bank Payments 61

PYMNTS

JUNE 23, 2020

According to the announcement, the Bank of Thailand is planning to use central bank digital currency (CBDC) to support funds transfer, with an eye on accelerating supplier payments as an early use-case of the payment system. The Bank of Thailand said it will begin development next month and aims to complete it by the end of the year.

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PYMNTS

NOVEMBER 12, 2019

12) that central banks have no reason to issue digital currency. He added that no organization can offer sovereign credit backing that way national currencies do. Greenspan’s remarks come on the heels of China’s announcement that it would launch a digital currency in early 2020. Former U.S. What comes next?

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PYMNTS

AUGUST 21, 2020

Earlier this month, as PYMNTS noted , the Federal Reserve said its Boston bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. Central bank digital currencies (or CBDCs) have been gathering steam, at least as a concept. No Race To Rollout .

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PYMNTS

FEBRUARY 6, 2020

In today’s top payments news, Stripe and Lightspeed team up to advance in-store and online payments for retailers and restaurants, the Federal Reserve weighs the costs and benefits of a digital currency and the Reserve Bank of Australia considers stopping banks from automatically routing “tap and go” payments through Visa and Mastercard.

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Digital Currency Fed Federal Reserve Cross-Border Payments 52

PYMNTS

AUGUST 13, 2020

Digital currencies have been increasing in popularity in recent months, expedited by the pandemic. lawmakers have advocated for “ digital dollars ” to be created for simpler ways to disburse financial aid.

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PYMNTS

DECEMBER 3, 2020

Today in B2B payments, Visa embraces the USDC digital currency for corporate payments. Visa Teams With Circle on USDC Digital Currency Corporate Card. Visa will provide a credit card that allows companies to make and receive payments with the digital currency once Circle graduates from Visa’s Fast Track initiative.

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PYMNTS

OCTOBER 9, 2020

In today’s top news, the Federal Reserve and seven central banks are collaborating on a framework for digital currency, and Amazon India prepares for its festive season with a $95.5 Fed, Central Banks Frame Criteria For Digital Currency. million boost. Plus, Affirm files for an IPO. Amazon India Gets $95.5M

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PYMNTS

MARCH 23, 2020

Neither bill specifies the use of any type of digital currency initiative. The Fed would be in control of the digital wallets. In addition, member banks of the Fed can have a “pass-through digital dollar wallet” per the draft bills, as cited by the outlet.

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eWallet Federal Reserve Fed Economy 105

Payments Dive

SEPTEMBER 6, 2022

The Fed has an uphill effort ahead in pursuing a central bank digital currency, as evidenced by extensive skepticism from two disparate groups.

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PYMNTS

NOVEMBER 2, 2020

BlockCard, a digital currency FinTech platform by Ternio, is teaming with peer-to-peer (P2P) bitcoin marketplace Paxful to debut a new digital currency debit card, which lets users take out money from an automated teller machine (ATM), among other features. Fed Adjusts Main Street Lending Terms to Help Small Businesses.

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PYMNTS

OCTOBER 12, 2020

But there’s room for co-existence of cash and digital currencies. The recently released report by the Bank for International Settlements ( BIS ) offers a general framework for digital currencies. And digital money, according to the BIS, will have to take its place alongside paper bills and coins.

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PYMNTS

JUNE 26, 2019

Facebook revealed last week that it plans to launch its own digital currency next year. The Fed won’t be the only regulator taking a close look at Libra. The Senate Banking Committee will hold its own hearing on the social media giant’s digital currency the day before. financial system.

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PYMNTS

NOVEMBER 25, 2020

The age of digital currencies might be fully upon us, but key questions swirl about how to issue and regulate cryptos – especially stablecoins. Regulators and lawmakers, however, can latch onto digital currency efforts as they must monitor and also supervise such stablecoins. In a paper that debuted Tuesday (Nov.

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PYMNTS

SEPTEMBER 15, 2020

Central bank digital coins on the Continent – but plenty of room for cash. To that end, Bloomberg reported at least some financial regulators from the European Union say there need to be strict controls governing central bank digital currencies in place — and Libra (among other private efforts) may present a threat to financial stability.

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PYMNTS

JANUARY 15, 2021

Federal Reserve Chair Jerome Powell said he isn’t in a rush to adopt a central bank digital currency (CBDC) because of the risks such currencies pose to the status of the dollar, CoinDesk reported. “We dollar is] the reserve currency.”. dollar is] the reserve currency.”.

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CBDC Fed Federal Reserve Central Bank 67

PYMNTS

NOVEMBER 19, 2020

Bitcoin has been trending upward in recent months, with more mainstream accolades and many worldwide governments looking at starting digital currency programs. In another example, the Fed is working with MIT to look into ways to implement digital coins into the infrastructure.

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PYMNTS

JUNE 20, 2019

government will respond to the introduction of new digital currencies. On Wednesday (June 20), Fed chairman Jerome Powell said that the country’s central bank has “significant input into the payments system,” which is the eCommerce system that Libra will affect. It’s something we’re looking at,” he said. Cowen & Co.

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Regulations Money Laundering Federal Reserve Digital Currency 67

PYMNTS

NOVEMBER 12, 2019

China is making privacy allowances for digital currency , which faces a new foe in the U.S. Former Fed Chair: Central Banks Have No Reason To Issue Digital Currencies. 12) that central banks have no reason to issue digital currency. 12) that central banks have no reason to issue digital currency.

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PYMNTS

FEBRUARY 9, 2018

But their messages are remarkably similar: Digital currency is an interesting idea, and an ingenious use of technology. It is not, however, a currency – or really at any risk of ever becoming one. And the fears that it will disrupt and displace fiat currency? Not Much of a Competitor. He’s pretty certain it can’t be.

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Fed Bitcoin Federal Reserve Digital Currency 40

Finextra

JULY 2, 2025

ESG Aware CBDCs: Central banks may introduce digital currencies with embedded green rules, for e.g., CBDC holdings that automatically earn rebates when funding renewable projects or transition bonds. It expresses the views and opinions of the author.

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