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Piero Cipollone, a member of the Executive Board of the European Central Bank, stated in an interview with the Italian media ilsussidiario.net on August 10 that the digital euro will provide the highest level of privacy protection achievable with current technology. Offline payments will be made directly between individuals, with transaction details visible only to the payer and the payee; during online payments, the euro system will not be able to identify the payer or payee, only the commercial banks involved in the transaction will be able to identify them, including for anti-money laundering purposes.The European Parliament reached a negotiating position on the regulation of the digital euro in July, with the negotiation goal with member states to reach an agreement by the end of 2026. The European Central Bank has designated 36 payment service providers, including Deutsche Bank, UniCredit, and Revolut, to participate in a 12-month pilot starting in the second half of 2027, with the first issuance targeted for 2029. Meanwhile, the "21st Century Road Act" signed in July in the United States prohibits the Federal Reserve from issuing central bank digital currency before the end of 2030, unless explicitly authorized by Congress.

European Central Bank (ECB) Executive Board member Piero Cipollone stated in a recent interview that the digital euro will provide stronger privacy protection than regular bank transfers. He pointed out that the euro system is structurally unable to associate specific individuals with their digital euro transactions, whether online or offline.Cipollone stated that offline payments will be conducted entirely directly between individuals, with transaction details visible only to the payer and payee, equivalent to cash transactions; only banks participating in online transactions will be able to identify user identities, and this will only be used for anti-money laundering purposes. He also refuted concerns that the digital euro would replace physical cash, citing the ECB's recent public consultation on the design of the new euro banknotes as an example, stating, "If institutions intend to eliminate cash, it makes no sense to do so."Cipollone's remarks come at a time when public opposition to the digital euro is rising. Civil society groups such as the Austrian digital rights organization Epicenter.works warned in a joint statement earlier this month that the privacy protections of the digital euro "over-rely on institutional commitments rather than technical execution," and that legislative commitments may be weakened in implementation, reinterpreted in court, or even broken. The digital euro regulation was approved by the European Parliament last month, with plans to launch in 2029. ECB President Lagarde previously stated that the digital euro will coexist with physical cash.

According to Reuters, India plans to issue its first tokenized bond in September, issued by the state-owned power financing company REC, with an issuance scale expected to be below 5 billion rupees (approximately 57 million USD). Indian market regulators and the central bank are jointly promoting the relevant pilot project, and the bond issuance and settlement will utilize blockchain technology.Sources say that the product is expected to be launched during the annual fintech conference in Mumbai in September, initially targeting a limited number of investors. Investors will participate through wholesale central bank digital currency (CBDC) wallets and electronic securities wallets. Indian depository institutions are developing an electronic wallet named DEMT 2 to record bond holdings via a distributed ledger.The initial term of the bond is three months, and subsequent trading will be limited to participants who simultaneously hold compatible CBDC and securities wallets. A secondary market for tokenized bonds is expected to form by December, and it will not be traded on traditional electronic trading platforms.

According to DigitalToday, the Korea Internet & Security Agency (KISA) and the Ministry of Science and ICT have launched the "Deposit Token Payment Infrastructure Expansion Project," which will extend the results of South Korea's CBDC pilot "Project Hangang" into the private payment sector.The project is overseen by the Financial Settlement Agency, with participation from 9 banks, 8 payment gateways, and 2 large demand-side entities, with a total budget of 9.6 billion KRW, aimed at reducing payment fees for small and micro merchants. The project utilizes existing payment systems rather than building new infrastructure, allowing users to complete payments through bank deposit token wallets without requiring merchants to change terminals.The government also plans to apply deposit tokens to a pilot for official travel expenses and explore a treasury fund management model linked with dBrain. Approximately 3 billion KRW of the total project budget will be invested in the development, operation, and promotion of small and medium-sized enterprises, startups, and IT companies, while participating banks will separately advance about 4.5 billion KRW in related businesses.

According to South Korean media Maeil Business, data from the Financial Supervisory Service of Korea shows that during the first phase of the CBDC pilot project led by the Bank of Korea, financial authorities did not conduct any independent security verification, and only the participating banks conducted their own pre-security reviews.Before the project launched, only an IT vulnerability self-assessment was conducted for the participating banks, executed by the Financial Security Institute, SK Shields, and self-inspection teams from Woori Bank and NongHyup Bank, forming an evaluation model of "self-check by the regulated entities." The central bank acknowledged external doubts about the security of the deposit tokens in the pilot result report and responded that the pre-review was sufficient, but critics pointed out that this explanation was a self-assessment and not an independent third-party verification.

According to reports from South Korean media, the Financial Services Commission, the Bank of Korea, the Financial Supervisory Service, and the Korea Securities Depository jointly announced relevant plans aimed at transforming the Korean won from a restricted exchange currency to a freely convertible currency, and improving the cross-border capital flow system. Among them, the South Korean government plans to clarify the issuance and circulation rules of the won stablecoin under the framework of the "Basic Law on Digital Assets," providing a institutional foundation for the entry of won-denominated stablecoins into the market.In addition, the Bank of Korea will also promote pilot projects that combine institutional CBDC with the tokenization of government bonds, and participate in the Project Agora led by the Bank for International Settlements (BIS) to explore a digital cross-border payment system.

According to the Korea Herald, the second phase of South Korea's central bank digital currency (CBDC) pilot project "Han River Plan" is about to officially launch. The Bank of Korea and commercial banks are making final preparations for the real transaction testing of deposit tokens in the second phase. If the system development and participant recruitment preparations are completed as planned, actual transactions are expected to begin as early as September.In the first phase transaction testing from April to June last year, 81,000 people participated through electronic wallets and conducted 114,880 transactions using deposit tokens. The first phase examined the deposit token payment system, while the second phase focuses on exploring commercialization. Additionally, the Ministry of Economy and Finance of South Korea announced in its economic growth strategy for the second half of the year released on the 15th that next year it will implement a pilot project for the tokenization of government bonds linked to the central bank's institutional-level central bank digital currency (CBDC).

According to ETNews, the South Korean government has released the "Korean Won Internationalization Roadmap," aiming to transform the Korean won from a regulated currency to a freely convertible currency and to establish an offshore Korean won settlement network.It is reported that the Bank of Korea will launch the "Offshore Korean Won Settlement Network" (tentative name), which is expected to undergo trial operation in September this year and officially start in January next year. At the same time, it will also build digital asset payment infrastructure to lay the foundation for the issuance, distribution, and trading of Korean won-denominated stablecoins, with plans to launch a pilot project next year to promote the tokenization of government bonds linked to the central bank digital currency (CBDC) of the Bank of Korea.In addition, South Korea will officially join the cross-border digital payment project "Agora," led by the Bank for International Settlements (BIS) and involving the central banks of eight countries.

According to South Korea's "Daily Economic News," the South Korean government has officially established policies for cultivating the blockchain and digital asset ecosystem through the "2026 Economic Growth Strategy for the Second Half of the Year." Core initiatives include launching a pilot project for the tokenization of government bonds in 2027, linking it with the central bank digital currency of South Korean banking institutions, and considering the interoperability of CBDC with other private blockchains.The legislation for digital assets is accelerating, with plans to promote the legislation of the "Fundamental Law on Digital Assets" in the second half of the year, covering the institutionalization of stablecoins and the systematization of cross-border stablecoin transactions. The government will also support amendments to capital market laws to promote the institutionalization of virtual asset spot ETFs. In terms of the competitiveness of the blockchain industry, large demonstration projects and leading technology research and development will be promoted in the fourth quarter of this year. Additionally, the government will collaborate with international organizations such as UNFCCC and GGGI to manage GVCM carbon credits in accordance with the Paris Agreement based on blockchain technology.

According to South Korean media EToday, the South Korean government announced the "2026 Economic Growth Strategy for the Second Half of the Year," declaring that it will accelerate the advancement of three major "super projects": semiconductors, AI data centers, and physical AI, and plans to enhance industrial competitiveness through the construction of blockchain and digital asset ecosystems.According to the plan, South Korea aims to double its storage chip production capacity within the next five years and launch an AI chatbot and a unified AI education platform for the public in the second half of this year. Notably, the South Korean government proposed to advance large-scale demonstration projects for blockchain and digital asset ecosystems in the second half of this year and to initiate a pilot project for the tokenization of government bonds based on blockchain, exploring the linkage with the central bank's institutional CBDC to promote the upgrade of financial infrastructure. In addition, South Korea also plans to establish strategic investment accounts and a national growth fund to expand long-term capital support for strategic industries such as artificial intelligence, quantum technology, security, and blockchain.

According to Cointelegraph, Elvira Nabiullina, the Governor of the Central Bank of Russia, confirmed that the digital ruble will be launched as scheduled on September 1, and everything is "ready." The digital ruble will serve as a supplement to the Russian fiat ruble and will initially be accepted by financial and credit institutions. The development of this CBDC began in 2021, and the European Union has implemented preemptive sanctions on the digital ruble effective April 2025 in response to Russia's war against Ukraine. Vladimir Chistyukhin, the First Deputy Governor of the Central Bank of Russia, stated that the laws related to the digital ruble will take effect on September 1, with a transition period until July 2027.In contrast, the U.S. housing bill containing a CBDC ban has been submitted to Trump, and if the president does not sign it within 10 days, it will automatically take effect, with the ban lasting until 2030.

According to CoinDesk, U.S. President Trump refused to sign a bipartisan housing bill that includes a four-year ban on the central bank digital currency (CBDC), temporarily canceling the scheduled signing ceremony and demanding that Congress first pass his proposed SAVE AMERICA ACT election bill.The CBDC provision in the housing bill would prohibit the Federal Reserve from issuing a digital dollar before the end of 2030, which was originally seen as an important advancement by the cryptocurrency industry.

According to Cointelegraph, the U.S. House of Representatives passed housing legislation with a vote of 358 to 32, which includes a provision for a temporary ban on central bank digital currencies (CBDC), lasting until 2030. The bill has now been sent to President Trump for signing. Previously, it was reported that the U.S. Senate passed a housing bill that includes a four-year ban on the Federal Reserve's CBDC.

On the evening of June 22, the U.S. Senate passed the "21st Century Housing Road Act" with an overwhelming vote of 85-5. The bill has now been sent to the House of Representatives, where it is expected to pass quickly and be signed into law by President Trump. The central bank digital currency (CBDC) ban has become a key additional clause in the bill, which will prohibit the Federal Reserve from issuing central bank digital currencies (CBDC) or any substantially similar digital assets before the end of 2030, even if issued indirectly through financial institutions. The bill also explicitly exempts private stablecoins (such as USDC, USDT).

According to CoinDesk, the U.S. Senate passed a housing bill with a vote of 85 to 5, which includes a four-year ban on Federal Reserve central bank digital currency (CBDC). This ban will last until the end of 2030, prohibiting the Federal Reserve system or its member banks from issuing or creating central bank digital currency or any digital assets that are substantially similar. Although the Federal Reserve has not actively promoted a CBDC project, Republican lawmakers view CBDCs as a dangerous act of government overreach and insisted on including it in the housing bill. The newly appointed Federal Reserve Chairman Kevin Warsh called CBDCs a "bad policy choice" during his nomination hearing. Trump signed an executive order in January 2025 prohibiting any actions to advance CBDCs. If the House passes it and the President signs it, the ban will become law.

According to ET News, the Central Bank Digital Currency (CBDC) experiment in South Korea is advancing to a new stage, which will achieve integration with the actual account systems of commercial banks. Participating banks are currently building the necessary infrastructure based on Naver Cloud within the testing environment designated by the central bank.This infrastructure includes electronic wallets for customers and merchants, a voucher system for executing fiscal fund payments, digital currency management tools, and a blockchain integration module. The system will ultimately be integrated with the banks' core account ledgers and smart banking services.

According to The Block, leaders of the U.S. Senate and House of Representatives jointly released an updated version of the "21st Century Housing Road Act," confirming that the two chambers have reached a bipartisan agreement. The core content of the bill focuses on housing affordability reform, including expanding housing supply and limiting market monopolies by corporate landlords. Notably, an additional clause in the bill explicitly prohibits the Federal Reserve from issuing or creating CBDCs and any "substantially similar" digital assets before December 31, 2030, a clause driven by House Republicans. The Trump administration has consistently held this position, with Treasury Secretary Mnuchin previously stating that CBDCs are "not under consideration." The bill will first undergo procedural voting in the Senate and is expected to be submitted to the House for review after Congress reconvenes, and then sent to the President for signing.

According to crypto journalist Eleanor Terrett, the final text of the compromise on Section 702 of the Foreign Intelligence Surveillance Act (FISA), proposed by Senate Intelligence Committee Chairman Tom Cotton, includes a Federal Reserve CBDC ban that was originally part of the housing bill. This text is expected to ultimately become law. Notably, the termination date of the ban has been moved up from December 31, 2030, to June 12, 2029.

According to Bloomberg, European Central Bank Executive Board member Isabel Schnabel stated that stablecoins pose multiple risks to financial stability and monetary policy, and the best response from the European Central Bank is to ensure that public money continues to serve as the anchor of the system.She pointed out that while private monetary innovations like stablecoins can bring "significant benefits," they may also increase the risk of runs on the financial system, weaken the transmission effects of interest rate decisions, and reinforce the international dominance of the dollar. Schnabel emphasized that the European Central Bank's strategy relies on the digital euro as a retail central bank digital currency and tokenized central bank money as wholesale CBDC.She noted that many advantages of stablecoins stem from their underlying technology rather than the characteristics of the instruments themselves. The day before Schnabel's remarks, Federal Reserve Governor Waller stated that the global spread of stablecoins could expand the influence of U.S. central bank policies and questioned CBDCs, calling them "a stupid thing."

According to Coin Desk, former U.S. Commodity Futures Trading Commission (CFTC) Chairman Timothy Massad stated that despite Trump's public commitment to oppose central bank digital currencies (CBDC) and government-backed stablecoins, the U.S. may ultimately launch a government-supported on-chain digital dollar scheme driven by the global development of tokenized finance.Massad mentioned that the White House is conducting closed-door research on the relevant infrastructure, and the U.S. has also participated in the Bank for International Settlements (BIS) Project Agora. Mark Gould, head of payment services at the Federal Reserve, stated that a digital dollar is currently not within the Federal Reserve's responsibilities, but if a government-supported digital dollar is launched, it will be the responsibility of the Federal Reserve.