Search Results for: digital shekel

BIS Releases Report On ‘Project Icebreaker’ — Develops Cross-Border Retail CBDC Payment Model

by

The Bank for International Settlements (BIS) has released a report summarizing the “Project Icebreaker” trial, which explored the potential advantages and difficulties of utilizing a retail central bank digital currency (CBDC) in cross-border payments. The experiment was designed to test “the…

Israel Prohibits Cash Deals for Amounts Starting as Low as $1,700

by

New legislation introducing tighter restrictions on payments with large sums of cash will enter into force in Israel on Monday. The goal, as stated by the country’s tax authority, is to improve the fight against organized crime, money laundering, and tax…

Bank of Israel: Adoption of CBDC Will Not Materially Affect the Banking System

by

Israel’s central bank says the public’s adoption of the digital shekel is not expected “to materially affect the banking system.” The bank, however, warns that any issuance of such digital currency will likely result in a decline of the volume of…