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A group comprised of about 70 Liberal Democratic Party lawmakers are working on a proposal for Japan to issue its own digital currency. The digital currency could be a joint initiative between the government and private companies, Norihiro Nakayama, parliamentary vice minister for foreign affairs, told Reuters.
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The central bank of Bahrain is the first to pilot a new toolkit developed by the world economic forum. This toolkit will help Bahrain’s central bank determine if a Central Bank Digital Currency (CBDC) is the right fit for the gulf kingdom. Other nations considering CBDCs will also be using the toolkit in the future.
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The World Economic Forum launched the Global Consortium for Digital Currency Governance to focus on the development of interoperable, transparent and inclusive policy approaches to regulating the digital currency space and fostering public-private collaboration in both developed and emerging economies.
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This paper explores the assets and process necessary for creating a central bank digital currency on the Celo platform, as well as the potential impact on the financial system.
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New York City is joining San Francisco and Philadelphia in banning stores and restaurants from rejecting cash as a form of payment. The city council approved a bill by a vote of 43-3 Thursday that prohibits the practice and and prevents New York City retailers from charging customers who pay with cash more than those who don’t. Violators could face penalties of as much as $1,500.
Kiffmeister’s Fintech Daily Digest 01/24/2020
