Fabio Panetta, an ECB board member, has said that work on the digital euro could tentatively start by the end of 2023. It could then be available to the public after about three years of work.
Central bank digital currency RSS
Venezuela has become the latest country to adopt a digital currency. The new Digital Bolivar is available as paper money but can also be used over SMS to facilitate payments for goods and services.
India's reserve bank governor has revealed that it could begin testing its Central Bank Digital Currency sometime in December. It could still take several years for a CBDC to become widespread though.
The UK's Bank of England has established a taskforce to look into the creation of a Central Bank Digital Currency. This doesn't definitely mean the UK will go ahead with the creation of a CBDC.
A group of politicians inside Japan's ruling party will submit proposals saying that a digital yen should be developed. It's also asking for it to be a topic at the next G7 meeting scheduled for June.
A U.S. Federal Reserve Governor, speaking at a conference, said that the Fed is looking into developing its own digital currency. It's still early days so don't expect any launches soon.
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