Recently, Wells Fargo had stated that cryptocurrencies could be hitting an “adoption inflection point,” comparing it to the internet adoption in the 1990s. In another report, examining crypto trends for 2022, Ripple has noted, “There are high expectations within institutions for wide scale adoption and impact of blockchain technology, cryptocurrencies, and Central Bank Digital Currencies […]

Ripple partners with Digital Euro Association (DEA). The Partnership involves knowledge sharing for European CBDC. Ripple will update the design

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Ripple has joined the Digital Euro Association (DEA) to help build central bank digital currencies.  Jonas Gross, Chairman of the Digital Euro Association, stated that the cooperation will primarily focus on knowledge exchange and joint educational initiatives related to digital currency.  Gross claimed that Ripple will assist in expanding the technological competence of the DEA community, stressing that when CBDC or government Stablecoin programs progress beyond the initial research stage, they will need advice on technology design.  James Wallis, Ripple’s VP of Central Bank Engagements, stated that Ripple has ‘invested considerably in the CBDC world’. The company has 40 members working on CBDCs all over the world. He said: “The collaboration will further develop Ripple’s efforts in the CBDC sector.”  The statement from today appears to have nothing to do with claims from Thursday that the European Commission could create a framework for a digital Euro by late 2023. The DEA is a think tank, whereas the European Commission is the EU’s executive department.  As a result, unlike the Commission’s initiatives, Ripple and the DEA’s activities are unlikely to result in the development of a digital Euro. If the DEA think tank engages with officials, the cooperation could have an impact on the design of a future CBDC.

The post Ripple Partners With Digital Euro Association to Provide Inputs on CBDCs appeared first on Cryptoknowmics-Crypto News and Media Platform.

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Ever since Facebook, now Meta, launched the Libra (Diem) project in 2019, in partnership with twenty or so other companies, including MasterCard and Visa, nation-states worldwide have been in a hurry to develop digital versions of their sovereign currencies, also known as Central Bank Digital Currencies, or CBDCs for short.

The post Digital euro bill set to come in early 2023 appeared first on CryptoSlate.

Several nations have already outlawed cryptocurrencies like bitcoin, with China being the most high-profile example. The People’s Republic of China infamously declared all virtual currency-related activities illegal last year. Last month, Russia’s central bank called for an absolute ban on crypto mining and use within its borders. Now, the governor of the Hungarian National Bank, […]

A European Union-backed digital Euro will be introduced sometime in 2023, according to a top EU official. First reported by Politico, the European Commission’s (EC) finance chief Mairead McGuinness said that the EU will officially propose a bill that will serve as the legal foundation for a virtual version of the Euro early next year. […]

The post European Union Says Digital Euro Coming Next Year appeared first on Coin Bureau.

György Matolcsy , the governor of Hungary’s central bank (MNB), wants to see the…

The post Hungary’s Central Bank calls for a ban on Bitcoin trading and mining in the EU appeared first on Coin Journal.

XRP is the top gainer among the 10 highest cryptocurrencies in the last 7 days. Despite its oversold status, XRP’s ...

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The European Commission has announced that a bill for a digital euro will be proposed in 2023. As reported by Politico, EC finance chief Mairead McGuinness officially disclosed the EU’s formal consideration of digital euro legislation at a fintech conference on Wednesday. “Our goal is to table legislation in early 2023,” the Commissioner for Financial […]