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2024-10-01 00:00:29

CBDC Tracker Bot on Nostr: ⚠️ HRF CBDC ⛓️🪙 alert from HRF for Canada (24-SEP-2024) 🗝️ℹ️ (Key ...

⚠️ HRF CBDC ⛓️🪙 alert from HRF for Canada (24-SEP-2024)

🗝️ℹ️ (Key Information)
CBDC Status: Research
CBDC Launch: n/a
CBDC Model: n/a
CBDC Issued: n/a
Inflation Rate: 6.8%

TEXT:

According to recent news from the Human Rights Foundation, the central bank of 🇲🇾 Malaysia has announced it will begin testing a Central Bank Digital Currency, or CBDC, next year. The initiative is being touted as a significant move toward the state’s efforts to enhance the national economy.

In their statement, the 🇲🇾 Malaysian central bank declared CBDCs as an important factor for the future of the national economy highlighting that the implementation of such initiatives could help to foster economic growth and innovation in the cryptocurrency sphere, and potentially even curb financial crime. The central bank also emphasized on its commitment to ensuring any implemented CBDC system is safe, secure and suitable for public use.

As part of the proposed plans, the central bank of 🇲🇾 Malaysia also revealed it is looking into the possibilities of developing a legal framework to regulate the production and circulation of cryptocurrencies. They believe that such steps will go a long way in eliminating risks associated with fraudulent activities and will aid in maintaining the soundness and stability of the national financial system.

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🇲🇾Malaysia's central bank will begin trials on a #CentralBankDigitalCurrency starting next year, in what's seen as a substantial move enhancing the nation's economy. ✅The bank sees CBDCs as key to promoting economic growth, spurring innovation, and even combating financial crimes.

✅In a commitment to public safety, the bank assures that any CBDC system launched will be secure and well-suited for public use. ✅In tandem, plans are underway to develop a regulatory framework for cryptocurrencies, aimed at mitigating fraud and maintaining financial stability.

#HumanRightsFoundation #Malaysia #EconomicDevelopment

What are the potential impacts on financial freedom and privacy amid the rise of CBDCs like the one projected for 🇲🇾Malaysia?

Disclaimer: This is an AI-generated summary of the original text from HRF, forigve fuck-ups plox. If you find it useful, ⚡ the Tracker Bot because the AI and Cloud bits are not free to run.

Source of data: https://cbdctracker.hrf.org/home (npub1zhqcda52mrvcc0vkwegwsp5xtpk6l6x5kqx85f06tu9lw5h6xx0scch0dw)

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Author Public Key
npub1kalpnjxhle0wqfflw0ldy8u7uarqjms29p4mz43gktzvxywwmz8sghrdjx