Speaking before the House Financial Services Committee on Feb. 24, Powell said 2021 “is going to be the year that we engage with the public pretty actively” on the digital dollar project. He added that there are still significant technical challenges to be met, as well as major policy decisions to be made, before the U.S. decides to create a digital dollar.
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India preparing to launch digital rupee
The Reserve Bank of India’s governor said that it is ‘very much in the game’ in getting ready to launch a central bank digital currency
Central bank governor Shaktikanta Das said that there is still no set date for the launch of the digital rupee, but highlighted that the project is “receiving our full attention” and that the central bank is already tying up loose ends by working on the technology and the procedural aspects of the system.
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Miami Mayor: Pay city workers, accept taxes in Bitcoin
Mayor Francis Suarez wants to make Miami a player in the cryptocurrency industry, and hopes to convince the state to let it invest in Bitcoin
“I want to thank the city of Miami commissioners for supporting my resolution which directs the city manager after analysis to procure a vendor to be able to offer our employees to get a percentage of their salary in Bitcoin, allows our residents to pay for fees in Bitcoin, and also allow the city manager to cooperate with Miami-Dade County to allow for taxes to be paid in Bitcoin," Suarez said in comments posted on Twitter.
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Indian Prime Minister Narendra Modi's government is close to approving a digital rupee while banning cryptocurrency exchanges (Photo: Wikimedia Commons)India close to deciding on digital rupee as crypto ban advances
The Reserve Bank of India says it will decide “very soon” whether to create a central bank digital currency, while a bill banning cryptocurrencies advances
The announcement comes in the wake of reports last week that prime Minister Narendra Modi’s government plans to pass a “Cryptocurrency and Regulation of Official Digital Currency Bill” that establishes a legal framework for a CBDC while banning private cryptocurrencies—although certain exceptions would be made for tokens used by blockchain projects.
