Carstens warns of ‘serious consequences’ from retail CBDC
BIS chief envisages system with wholesale digital currency alongside private retail payment systems
The Bank for International Settlements’ Agustín Carstens has expressed concern over the use of retail central bank digital currencies (CBDC), suggesting a wholesale option might be a better approach.
“Central bank digital currencies at the retail level have very serious consequences, and they are not easily tackled,” the BIS general manager told Central Banking in an interview.
Some observers have warned a retail CBDC could cause problems for banks by making it easier for depositors to flee
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