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Nigeria has announced a significant reduction in the amount of cash that individuals and businesses can withdraw. as it seeks to push for a “cash-less Nigeria” policy and increase the use of eNaira, the Central Bank Digital Currency of Nigeria (CBDC). central bank of nigeria leaveThe December 6 order states that individuals and businesses will be limited to withdrawals of $45 (₦20,000) per day and $225 (₦100,000) per week from ATMs. Individuals and businesses are limited to bank withdrawals per...
Fed Chair Jerome Powell spoke to the US CBDC in the Banque de France debate on digital finance, revealing four must-have attributes. JUST IN: FED Chair Jerome Powell says a US CBDC "would not be anonymous." pic.twitter.com/6IhHytMOuM— Watcher.Guru (@WatcherGuru) September 27, 2022 Powell stated in the discussion that the CBDC should have four attributes, first of which Powell said it should be a “mediator.” Second, it should have “privacy protection.” Wells said there has to be This means that the...
Minnesota Representative Tom Emmer announced that He will introduce a bill aimed at preventing the Federal Reserve (FED) from acting as a retail bank in issuing currency. Potential “digital dollars” In an announcement on Wednesday, Emmer saidThe bill would prohibit the FED from issuing central bank digital currencies, or CBDCs, directly to US consumers. According to a Minnesota representative, having a government agency requiring users to open accounts to access the benefits of the digital dollar would “put the FED...
