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CBDCs
By late 2013, it was clear crypto assets would be the future of finance. It was the first time bitcoin crossed $1,000. To the cypherpunks’ chagrin, central banks around the world began publishing warnings to curb the “decentralized genie” threatening the stability of the familiar system. First they ignore you, then they fight. Bitcoin’s rally stopped...
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It has become clear by now that central bank digital currencies, or CBDCs, will be in our future and the technology will fundamentally change the use of money and the economic system as a whole. The world’s biggest economies and their central banks have announced they are working on CBDCs: the U.S. Federal Reserve, the...
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China’s President Xi Jinping told G20 meeting attendees this week that the group of the world’s largest developed economies should be open to central bank digital currencies (CBDCs) when developing standards for them. In a wide-ranging speech that addressed the future of the global economy in the wake of the COVID-19 pandemic, Xi said that...
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