The Sovereign Yidindji Government has launched a sovereign digital currency (GovCoin). Yidindji is an aboriginal Australian micronation that is part of the Australian Aboriginal Sovereignty. The new payment system is connected with MetaMUI’s self-sovereign identity (SSID) system that is already used in retail stores and government offices. Details are still sketchy, but the unofficial press release says “it’s a convertible currency whose collateral assets are gold and silver and other minerals and natural resources… Money issuance, backed by a digital certificate, is also backed with collateral assets.” [Read more]
Bank Negara Malaysia and Bank Indonesia launched a cross-border payment pilot, through which Malaysian and Indonesian users can make retail payments by scanning merchants’ DuitNow or QRIS (Quick Response Code Indonesian Standard) QR codes. Full launch is expected in 2022Q3. Phase 2 of a similar linkage between Malaysia and Thailand also went live this week. Phase 1, launched in June 2021, allowed Thai users to use DuitNow QR codes to pay Malaysian merchants. Phase 2 will allow Malaysian users to scan Thai QR codes to pay Thai merchants. [Read more]
Fidelity’s Wise Origin Bitcoin Trust exchange-traded fund (ETF) proposal, submitted by Cboe BZX Exchange, has been disapproved by the U.S. Securities and Exchange Commission (SEC). The SEC concluded that BZX did not meet the requirement that the rules of a national securities exchange be “designed to prevent fraudulent and manipulative acts and practices” and “to protect investors and the public interest.” Last week, the SEC shot down a proposed spot Bitcoin ETF from First Trust and Skybridge Capital on identical grounds. [Read more]
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The CBDC Think Tank (CBDCTT) is hosting an in-person CBDC Workshop in Washington DC on February 24. It’s an intensive and hands-on CBDC course for central bank leadership and staff that are looking to understand and position for CBDCs. The workshop is a mix of lectures from CBDC experts and hands-on exercises. Certification of completion will be provided by the CBDCTT. Note that it is open only to staff from the official sector, such as central bank and finance ministry staff! [Register here]