● Global CBDC developments in July highlighted a mixed landscape for the sector with some regions advancing rapidly while others face political and technical challenges. Russia announced the digital ruble pilot programme has led to more than 30,000 transactions being completed with plans to extend the number of participants from 34 to 1200 banks and merchants in the second half of 2024.
● Meanwhile, progress on retail CBDC in the US has stalled, becoming a contentious issue in the presidential campaign. Several politicians, including Senator Cynthia Lummis, have voiced strong opposition, arguing that a retail-facing digital dollar should not be launched.
