🔗 Read More: https://www.prodevans.com/services/cbdc/

➤ Peru's central bank (BCRP) has extended its retail CBDC pilot until March 2027, driven by strong adoption with over 3.5 million users. ➤ The pilot, utilizing a wallet called BiPay via telecom operator Bitel, focuses on financially underserved regions and demonstrates significant growth in digital currency balances. ➤ The BCRP is differentiating its CBDC from cryptocurrencies, with results informing a potential permanent digital currency issuance after 2027.

➤ The IMF has proposed a roadmap for a wholesale CBDC in the Philippines, focusing on tokenized government bond settlement and cross-border payments. ➤ The Bank of Israel highlights a gap between the technical readiness of tokenized settlement infrastructure and the slower progress of necessary legal frameworks, particularly for cross-border enforceability. ➤ The Hong Kong Monetary Authority has established an expert group to scale tokenized bond issuance and trading, reviewing existing legal and regulatory frameworks.

➤ The US Senate failed to extend FISA Section 702 surveillance powers, which are set to expire on June 12. ➤ A provision to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) was attached to the FISA extension and is now stalled. ➤ The delay in anti-CBDC legislation maintains the current regulatory status quo for private stablecoins like USDT and USDC, which are seen as competitive threats to a potential digital dollar.

➤ The CLARITY Act, a significant digital asset regulation framework, has passed the Senate Banking Committee with bipartisan support, moving closer to a full Senate vote. ➤ The bill aims to provide regulatory clarity by assigning oversight of digital commodities to the CFTC and securities to the SEC, while also blocking a retail CBDC without explicit Congressional approval. ➤ Supporters believe the act will foster innovation, protect consumers, enhance national security, and aid law enforcement by establishing clear rules for the digital asset market in the U.S.

➤ Hedera had a significant month in May 2026, marked by HederaCon Miami announcements like CLPR (bridgeless cross-ledger protocol) and the general availability of HashSphere for regulated institutions. ➤ Key developments included Accenture joining the Hedera Council, the Reserve Bank of Australia naming Hedera in its wholesale CBDC report (Project Acacia), and positive inflows for the Canary HBAR ETF. ➤ The article highlights Hedera's shift from pitching infrastructure to shipping it, with advancements in tokenization tooling, enterprise partnerships, and builder ecosystem growth.

➤ Analysts highlight limitations of private won stablecoins, contrasting them with the Bank of Korea's 'Project Han River,' which integrates institutional CBDCs and deposit tokens. ➤ The article discusses the structural issues in current payment systems, particularly for cross-border transactions, and critiques stablecoins for lacking unity, elasticity, and integrity. ➤ 'Project Han River' aims to modernize the financial infrastructure by tokenizing commercial bank deposits and institutional CBDCs, while also considering e-money and special payment tokens for external asset linkage.

➤ ECB board member Isabel Schnabel advocates for strong regulation and a digital euro to counter risks posed by stablecoins, particularly their potential to reinforce U.S. dollar dominance. ➤ Schnabel highlighted concerns about stablecoin run risks, monetary policy transmission, and the need for Europe to develop its own CBDC for strategic autonomy. ➤ Coinbase, while praising the EU's MiCA framework, calls for adjustments to enhance euro stablecoin viability, clarify DeFi access, and reform reserve requirements.