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Switzerland's central bank has successfully tested using digital money to settle large scale transactions between financial institutions, but has not decided whether to issue its own digital currency.
WHILE cryptocurrency exchanges among those in their 40s and 50s deal with larger volumes, the older generation more often than not face inconveniences in trading their digital currencies.
KUALA LUMPUR: Bank Negara Malaysia is developing the regulatory structure for digital currencies and from 2018, persons converting crypto currencies into fiat money currencies will come under anti-money laundering law.
KUALA LUMPUR: The law on digital currencies and digital tokens will come into effect on Tuesday and any person operating unauthorised initial coin offerings (ICOs) or digital asset exchange faces a 10-year jail and RM10mil fine.
BEIJING: China has joined a multilateral central bank digital currency project in Asia for real-time cross-border transactions like cross-border fund transfers, international trade settlements and capital market transactions, amid renewed global efforts to promote the use of digitalised legal tenders.
The world's largest central banks – and even some of the smaller ones – are toying with the idea of issuing digital currencies.