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Israel launches digital shekel CBDC experiment 

Israel is accelerating its efforts to develop a digital shekel, with the Bank of Israel announcing a significant push towards the creation of a central bank digital currency (CBDC). This move aims to modernize the country’s payment systems and enhance financial inclusion.

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Israel is accelerating its efforts to develop a digital shekel, with the Bank of Israel announcing a significant push towards the creation of a central bank digital currency (CBDC). This move aims to modernize the country’s payment systems and enhance financial inclusion.

The Bank of Israel’s Steering Committee on the Potential Issuance of a Digital Shekel has been actively exploring the feasibility and implications of a CBDC. According to recent reports, the committee is now intensifying its research and development activities to address various economic, technological, and regulatory challenges associated with the digital currency.

One of the primary motivations for the digital shekel is to ensure the robustness and efficiency of the payment system in a rapidly digitizing world. A digital shekel could provide a secure and efficient alternative to existing payment methods, reducing transaction costs and improving accessibility for all citizens.

The Bank of Israel is also considering the potential benefits of a digital shekel in terms of financial stability and monetary policy. By providing a new tool for monetary transactions, the central bank could gain more precise control over the money supply and improve its ability to implement monetary policy.

Furthermore, the digital shekel is expected to enhance financial inclusion by providing unbanked and underbanked populations with easier access to financial services. This aligns with global trends where central banks are exploring digital currencies to bridge gaps in financial inclusion and provide more equitable access to financial systems.

The Bank of Israel has emphasized that the development of the digital shekel will be a gradual and cautious process. Extensive consultations with various stakeholders, including financial institutions, technology experts, and the public, will be conducted to ensure that the digital currency meets the needs of all users and maintains the integrity of the financial system.

Israel’s commitment to accelerating the digital shekel development reflects the growing global interest in CBDCs as a means to modernize financial infrastructures and adapt to the evolving digital economy. As the project progresses, the Bank of Israel is expected to provide further updates and engage in ongoing discussions with international counterparts to share insights and best practices.

This initiative positions Israel at the forefront of digital currency innovation, aiming to secure its place in the future of global finance while ensuring the continued stability and efficiency of its own financial system.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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