The rejection of a central bank digital currency by the United States has not hindered the progress of CBDCs worldwide. However, the success of these projects remains uncertain. According to Olga Goncharova, a former Binance executive, while global CBDC initiatives have not failed, they have not met the initial expectations. Despite being touted as a technological breakthrough, CBDCs are currently perceived as costly imitations of traditional fiat currencies available through online banking. Goncharova highlighted that even in China, where the digital yuan project is advanced, its adoption remains minimal. The European Union is also exploring a digital euro to enhance financial autonomy, facing challenges such as bank market share concerns. Russia, actively participating in the CBDC race, has faced delays in rolling out its digital ruble. Despite these efforts, the success and widespread adoption of CBDCs globally remain uncertain. Read more AI-generated news on: https://app.chaingpt.org/news

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