Although recent press reports may contend otherwise, not all central banks are opposed to the notion of cryptocurrencies. The World Economic Forum released a report back in April that revealed that there are several ongoing central bank led projects that involve blockchain technology in support of what is called a Central Bank Digital Currency (CBDC). The financial press, however, has only fastened on three of these projects that are resident in Venezuela, Russia, and Iran. The general theme is that cryptos could enable a new financial network, free of global sanctions. Today’s news is that Iran has announced its own ... (full story)