IMF warns that eNaira may lead to new money-laundering and terrorism financing risks
IMF staff have warned the Central Bank of Nigeria that potential expansion of the use of the eNaira could lead to new money-laundering and terrorism financing risks. This expansion includes offline and cross-border payments, and interoperability with other central bank digital currency (CBDC). IMF staff also stressed the need to fix existing deficiencies in the AML/CFT framework which could exacerbate these risks. A recent Inter-Governmental Action Group against Money Laundering report identified significant deficiencies that could result in a FATF grey listing as early as next year. [Read more]
Uganda looks to Kenya, Jamaica for its digital currency
The Bank of Uganda is reportedly considering CBDC issuance, and exploring legal options for future amendments in financial laws that will facilitate it. Details are sketchy, and it’s not clear whether the central bank is considering retail or wholesale CBDC, or both, but it sounds like they’re focused on a blockchain-based and/or mobile money platforms. [Read more]
GoDaddy introduces QR codes for on-the-go transactions
GoDaddy has released a QR code technology for transaction processed by small and medium enterprises. It allows them to turn their mobile phones into terminals that accept online payments without requiring a terminal, dongle or card reader to process payments. A one-time personalized QR code is generated that customers can scan and then later pay, after which the code expires for improved security. [Read more]
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Central Bank Digital Currency Workshop, Hosted by the CBDC Think Tank
In Q2 2022, the CBDCTT will launch the OpenCBDC Sandbox for evaluating, studying and learning from the OpenCBDC Boston Fed and the MIT Digital Currency Initiative open source CBDC platform. It will provide easy to use access, with the CBDCTT providing training and all updates. It’s available exclusively to central banks and official institutions. [Read more]
