Swiss Central Bank’s Chairman, Thomas Jordan, announced the launch of a wholesale Central Bank Digital Currency (CBDC) pilot program on Switzerland’s SIX digital exchange. Despite exploring CBDC potential, the Swiss Central Bank remains cautious about adopting retail CBDCs due to possible financial system risks.
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Navigating the Regulatory Maze: Driving Stablecoin Legislation Under Biden’s Administration
Chair Patrick McHenry of the US House of Representatives’ Financial Services Committee affirms his commitment to regulate stablecoins. He steers two digital asset bills targeted at stablecoin regulation, and bringing clarity to the role between the CFTC and SEC. McHenry highlights potential bipartisan support and the global influence of dollar-denominated stablecoins, emphasizing complex power dynamics beyond the digital asset scope.
Swiss CBDC Pilot Program: Enthusiasm, Challenges, and the Future of Digital Currencies
Swiss National Bank (SNB) Chairman Thomas Jordan announced an experimental central bank digital currency (CBDC) for wholesale payments on the SIX Digital Exchange. Intended for financial institutions, this pilot program aims to test real transactions with market participants, joining 18 countries piloting CBDC technology worldwide.