Reserve

Reserve Bank of India expands digital rupee pilot program

0xMain
May 30, 2023

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The Reserve Bank of India is enhancing its digital rupee pilot, as it intends to broaden participation and incorporate diverse use cases in the upcoming fiscal year. The Reserve Bank of India (RBI) is intensifying its digital rupee pilot, representing a significant step...

Tether’s Q1 2023 report states record $2.44b reserve surplus and $1.48b net profit

0xMain
May 10, 2023

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Tether Holdings Limited’s latest Q1 2023 assurance report, completed by global independent public accounting firm BDO Italia, reveals an all-time high of $2.44 billion in excess reserves, up $1.48...

Federal Reserve official says CBDC risks outweigh benefits

0xMain
April 20, 2023

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The U.S. Federal Reserve governor Michelle Bowman has expressed her concerns over the possible creation of a U.S. central bank digital currency (CBDC), arguing that the risks associated with CBDCs far outweigh their benefits. Bowman is not bullish on a U.S. CBDC Despite...

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US draft bill on stablecoins places issuers like Tether under the Federal Reserve oversight

0xMain
April 16, 2023

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A new draft bill that provides a stablecoin framework in the United States will see private issuers such as Circle, the issuer of USDC, and Tether Holding, the firm behind USDT, placed under the Federal Reserve (Fed) oversight. The Fed is the country’s...

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Federal Reserve bars Custodia, says operations inconsistent with the law

0xMain
March 25, 2023

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The board of governors of the Federal Reserve System, better known as the Fed, has officially confirmed that they denied Custodia their application to be part of its network. The Fed is concerned about Custodia’s abilities In an updated statement on Mar. 24, the United...