Global | Roadmaps for digital currencies

Summary

The BIS, the ECB and the BoJ have published guidelines on the development of potential digital currencies. Monetary authorities are wary of a foreign—or poorly regulated—digital currency suddenly dominating the domestic means of payment. A CBDC would be one of the possible solutions to confront such a threat.

Key points

• Key points:
• The reports effectively condense the prolific debate of recent years, bringing together the concerns raised by all parties while reaffirming their commitment to moving forward with both resolve and caution.
• It is essential to properly manage a series of well-known risks that are too complex to predict accurately.
• As such, the reports underscore one of the maxims of digital innovation: progress shall be incremental and iterative, so as to experiment, learn… and make the necessary adjustments along the way.

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