Today, an Indiana Senate committee unanimously passed a bill that would take steps to impede the practical impact of a central bank digital currency, expanding a law that removed CBDC from the definition of money in the state.
Happy 75th Republic Day! To widen the use cases of central bank-backed digital currency (CBDC), the RBI is exploring tokenisation of government bonds and securities. This and more in todays ETtech Morning Dispatch.
The legislation would take several steps "to protect a person's right to choose whether to participate in a digital currency system and to ensure that the people of the State are not coerced into adopting digital currencies against their will."
Instead of winter in Davos, fintech and DeFi leaders ventured to the Caribbean sun to explore the future of digital payments infrastructure in emerging markets.
Investors would be able to purchase government securities and other bonds using digital currency in their wallets. This would have the twin benefit of widening digital currency usage beyond the simple merchant payments at present and also help boost retail participation in the government bond market.