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CBDC Outlook as Sen. Ted Cruz Proposes Ban

Sen. Ted Cruz introduced a bill on Tuesday aimed at blocking the Federal Reserve from creating a consumer-based central bank digital currency, or CBDC. The effort by the Texas senator adds to a similar state-level measure proposed earlier this week by Florida Gov. Ron DeSantis. CoinDesk Executive Director of Global Content Emily Parker breaks down the differences between the two proposals and what the opposition to a CBDC is largely about.

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Bitcoin Teeters Around $28K as Fed Raises Rates by 0.25%; Sen. Ted Cruz Proposes Ban on a CBDC

Bitcoin (BTC) is teetering around $28,000, following the Federal Reserve raising rates by a quarter percentage point. Separately, Sen. Ted Cruz (R-Texas) introduced a bill aimed at blocking the Federal Reserve from creating a consumer-based central bank digital currency, or CBDC.

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Nigeria's eNaira Wallet Use Jumps Amid Cash Shortages: Bloomberg

Nigerians have been turning to the country's central bank digital currency (CBDC) eNaira, amid cash shortages, according to Bloomberg. The number of eNaira wallets has jumped more than 12-fold to 13 million since October, and the value of transactions has climbed 63% this year. The CBDC was introduced in October 2021. "The Hash" panel discusses the eNaira experiment and crypto's use case as an alternative to economic uncertainty.

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Florida Governor Ron DeSantis Proposes Law to Ban CBDCs

A legislative proposal from Florida Governor Ron DeSantis would prohibit using a national central bank digital currency (CBDC) as money within his state. This comes as the Biden administration is studying the possibility of introducing a CBDC. "The Hash" panel weighs in on an issue that is likely to get more prominence as the next U.S. presidential election starts to heat up.

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India's Central Bank Exploring Privacy Legislation for Retail CBDC Users

India's central bank is advocating for legislation that will allow users of its retail central bank digital currency (CBDC) to delete any transactions from the network's ledger in order to maintain anonymity, a highly placed person told CoinDesk. "The Hash" panel discusses the wider implications of preserving privacy on the blockchain, as lawmakers and individuals across the world have been concerned about the potential surveillance aspects of CBDCs.

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Federal Reserve’s New Instant Payments System 'FedNow' To Launch in July

The U.S. Federal Reserve is set to launch its long-awaited instant payments service "FedNow" in July. "The Hash" panel discusses the rollout amid a global race to central bank digital currencies (CBDCs).

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Will CBDCs Be a Boon or Bane?

Host Joel Flynn discusses the potential impact of central bank digital currencies (CBDCs) on the crypto industry. That story and other news shaping the cryptocurrency world in this episode of "The Daily Forkast."

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Nigeria's Digital Currency eNaira Faces Setback Despite Cash Shortages

Nigeria is struggling with severe cash shortages, with riots erupting across the country just days before a presidential election. Still, people are not turning to the national digital currency, the eNaira, which promised to improve retail payments. "The Hash" panel discusses the case for crypto adoption and CBDCs in Nigeria amid economic uncertainty in the country. 

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