The Latest Breaking News from CBDC

A group of major crypto players have jointly launched $USDG, a new stablecoin under the Global Dollar Network that should "revolutionize" the stablecoin ecosystem and set high standards for compliance.

"There will never be a CBDC while I'm president of the United States," Trump said.

Powell told a Senate committee on Thursday that American consumers shouldn't be worried about a CBDC coming out as the Fed is not even thinking about it at this time.

Sen. Ted Cruz and several other Republican senators are pushing a bill that could prohibit the U.S. central bank from issuing CBDCs, saying a CBDC will only infringe on the American public's financial freedoms.

U.S. Federal Reserve analysts have warned of "some potential" for the dollar's role as a medium of exchange to be eroded with the rise of well-designed foreign CBDCs.

The Bank of Canada recently published findings from its public consultation report on a central bank digital currency, known as CBDCs.

The Federal Reserve vice chair for supervision spoke at D.C. Fintech Week on Tuesday.

The Bank of Thailand is working with three payment service providers to launch its retail central bank digital currency (CBDC), a novel financial infrastructure it claims will improve the convenience and efficiency of financial transactions with lower costs.

In a bid to play catch up with technology companies and younger generations of consumers, central banks are finally starting to take digital currencies seriously. Countries such as Sweden, China, and India have establish pilot digital currencies – respectively, the e-krona, e-yuan and e-rupee – via their central banks. In…