Fed Outlines Pros And Cons Of A US digital Dollar -- But Avoids Taking A Stand for Now
"We are certainly willing to use capital for M&A if it's something that strategically fits with what we are trying to do. And there seem to be a lot of things around right now presenting themselves as possibilities," said Baker.
'In what should have been a completely avoidable situation, Mr Wildin has continually ignored planning law and policies that are there to protect local communities,' said Cllr Paul Hiett, Deputy Leader of Forest of Dean Council
Not only is it destabilizing, the Fed's report appears to throw shade on the idea that the Fed currently has the authority to create such accounts. Moreover, the Fed could be signaling that it's wary about expanding its current role to these proportions.
What is a central bank digital currency? It's the virtual form of a fiat currency -- that is, government-issued money that isn't backed by other commodities like gold or silver. In short, a CBDC is just the digital form of a country's official currency. As nothing more than a computer code, these currencies could be stored on central ledgers within a country's national bank or on a distributed ledger the way private cryptocurrencies like bitcoin are.
'Mr Wildin subsequently appealed the decision, on the grounds that the Council gave no evidence of costs set out for the works to be completed and that 18 weeks was not an adequate time period to carry out the works.
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Graham Wildin, 70, from Cinderford, Gloucestershire, was previously handed a six week sentence, suspended for twelve months, in June 2021, on the condition that the building be permanently stripped and decommissioned within 18 weeks.
After the eight year legal battle, the final deadline to pull down the man cave (pictured from above) to avoid a jail sentence for contempt of court over ignoring the order passed without any action being taken in March
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But as cryptocurrencies gain in popularity, grabbing an increasing share of the global financial pie, governments have taken notice, and now many of them are exploring how to get a piece of the action. One possibility is what's known as a CBDC, or a central bank digital currency.
'This required Mr Wildin to soft strip and decommission services to the building, with the judge sentencing Mr Wildin to six weeks imprisonment suspended for 12 months, on the condition that the building be permanently stripped and decommissioned within 18 weeks.
Mr Wildin subsequently appealed the decision, on the grounds that the Council gave no evidence of costs set out for the works to be completed and that 18 weeks was not an adequate time period to carry out the works.
Accountant Graham Wildin (pictured), 70, was yesterday sent to prison for six weeks for contempt of court after refusing to demolish the private leisure complex with a cinema, gym, casino (pictured), bar and bowling alley at his home in Cinderford, Gloucestershire
Instead of adopting its own digital coin or CBDC, El Salvador made bitcoin legal tender last year, meaning the established cryptocurrency must be accepted as a form of payment throughout the country. Soon after, Panama followed in El Salvador's footsteps and unveiled a similar plan to make bitcoin legal tender.
"Currencies throughout history can either be issued by the public or by private entities, and what crypto has shown us or has delivered is a reignition of an age-old fight between private and public currency issuance," said Peebles. "Central bankers suddenly got blindsided; and so, a central bank digital currency is central bankers trying to hold on to their monopoly over currency issuance in the face of erosion of that monopoly."
Which countries are exploring CBDCs? About 110 countries are at some stage of CBDC development, according to the IMF. The Bahamas, Nigeria and several countries in the eastern Caribbean through the Eastern Caribbean Currency Union (including Grenada, Antigua and Barbuda, Saint Lucia and St. Kitts and Nevis) have already issued CBDCs. The names of their e-currencies are the Sand Dollar, eNaira and DCash, respectively.
