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“Digital shekels represent a direct commitment of the central bank and, therefore, will likely be included in the liquidity buffer,” the report said. “Accordingly, the liquidity/financial impact of the requirement that commercial banks hold digital shekels to support the indirect model is not expected to incur additional costs relative to the other two models.”
“Given the interdependence between the various components of the digital shekel system, the decisions are not final,” the Bank of Israel said.Russia sees the release of a digital ruble as a workaround to sanctions placed on the country after it invaded Ukraine, and as such, Russian President Vladimir Putin signed a law on Monday that establishes a regulatory framework for “conducting foreign trade transactions using digital assets as a means of payment,” including the digital ruble.
DFA issuers must now provide the Bank of Russia with information about the recipients of these assets, and firms that use DFAs and CBDCs in payments will be required to log all transactions on a newly created information system.provided by the Atlantic Council, 134 countries and currency unions, representing 98% of global GDP, are currently exploring the creation of a CBDC, with 19 of the Group of 20 countries in the advanced stages of CBDC development.