The CBRT has successfully executed its first payment transactions using the digital lira and will continue to run a closed set of tests in the first quarter of 2023.
The company's latest offering is geared towards financial institutions looking to attract customers with a crypto offering, retailers seeking to explore NFTs, and central banks delving into digital currencies.
A Bank of International Settlements report found that stablecoins and central bank digital currencies could pose a number of risks in emerging markets and developing economies.
Turkey’s unregulated crypto market has come under closer scrutiny by the government, as it begins to tighten restrictions and float a tax regime.
Outlined below is an examination of how central bank digital currencies could resemble and differ from cryptocurrencies and "stablecoin" projects like Facebook-backed Diem.
With trials at the most advanced stage of any other country, China’s digital yuan is poised to have a major impact on both China and the global economy.
XRP, the third-biggest cryptocurrency, was last down 18.7 percent at an intra-day low of $0.20, its lowest since July.
In India as elsewhere, the US company's ambitions to remake global finance through its "Libra" currency will have to overcome regulatory mistrust, plus the existence of popular homegrown rivals in the market for digital payments.
The fall followed a sudden plunge last week that shook bitcoin out of a period of relative stability, where prices had hovered around the $6,500 mark for several months.
As the use of cash declines and interest in cryptocurrencies grows, some financiers think it’s time for central banks to enter the e-money market. But experts think otherwise.
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