Bank of China's Shenzhen and Fujian branches processed two cross-border transactions, each over US$1.7 billion, via the mBridge multilateral CBDC platform. This marks a significant step for the emerging payment network and China's ambition to internationalize the yuan, bypassing Western-centric financial systems.
President Trump unexpectedly canceled a housing bill signing, delaying a temporary ban on a Fed-issued digital dollar. He conditioned his signature on Congress passing the SAVE America Act, an elections bill requiring voter ID and proof of citizenship, frustrating lawmakers.
The US House passed the 21st Century ROAD to Housing Act, banning central bank digital currencies (CBDCs) until 2030, with President Trump expected to sign it into law. The bill tackles housing affordability and includes a carve-out for crypto stablecoins.
The US Senate passed the 21st Century Road to Housing Act, which includes a ban on the Federal Reserve creating a central bank digital currency (CBDC) until 2030. The bill, expected to pass the House, aims to increase housing supply and includes carve-outs for stablecoins.
Macau's Monetary Authority launched the mBridge system on June 2nd, enabling three local banks to complete 23 cross-border transactions totaling nearly 1.3 billion MOP. The system uses central bank digital currency and distributed ledger technology for efficient, secure, and low-cost cross-border payments.
US House Republicans are pushing for a permanent ban on a central bank digital currency (CBDC) via an amendment to the 21st Century ROAD to Housing Act. The bill, which includes housing program revisions, aims to prevent the Federal Reserve from issuing a CBDC, with a vote expected this week.
