CBDC
BoE research says digital currency would ‘strengthen’ policy transmission
Under proposed framework, a CBDC would have limited impact on monetary policy but a lack of data means further research into design and demand will be crucial
Norges Bank does not rule out launching digital currency
Central bank publishes first phase of research, saying a digital currency could be an alternative to deposit money when cash usage declines
Canada’s Project Jasper finds DLT is viable for securities settlement
Phase III of the project saw central bank cash and assets instantly settled across a DLT network where privacy is maintained
No reason for public to have central bank accounts – Cœuré
ECB executive board member sees no current need for central bank digital currency, but says it could act as an alternative to cash in future
Bank of Canada paper offers advice on digital currency policy
Framework designed to help policymakers weigh up various forms of digital money
Venezuelan public invited to invest in national crypto asset
President Maduro announces public will be able to invest in ‘petro’ as well as gold; $1 billion from the proceeds of first petro auction to go to the central bank
Public should be allowed to open accounts with central banks – research
St Louis Fed paper argues against central banks launching full-blown digital currencies, but says an electronic form of central bank money “would be easy to implement”
Do not discount central bank digital currency yet – Lagarde
IMF chief says central banks may be forced to issue their own form of crypto-asset if private sector alternatives remain ‘risky and unstable’
SNB rejects idea of retail central bank digital currency
Governing board member Andrea Maechler says central bank digital currency would bring “incalculable risks”, and denies that crypto tokens are “comparable with” money
RBI to consider launching digital currency
Reserve bank to investigate issuing a digital form of central bank money, as it unveils measures to “ring fence” regulated banks against crypto tokens
Central bank digital currencies could aid policy transmission – BIS
BIS says CBDC may boost transmission of rate changes, but could also lead to runs at “unprecedented speed and scale”
Sweden must ask fundamental questions on money – Ingves
Sveriges Riksbank governor Stefan Ingves says lawmakers must act to preserve the regulation of the payments system
Danish central bank dismisses central bank digital currency
Digital instrument would not make current payment system more efficient, says report, adding introducing such a currency would pit the central bank against commercial institutions
RBA’s Lowe discusses potential electronic Aussie dollar
Financial stability risk and reforms holding back provision of digital currency at the moment, says RBA governor, but clearing and settlement could be future use case
Ingves: Riksbank ‘will soon take a stance’ on e-krona
The executive board will examine whether e-krona could be the gateway to central bank money, as the decline in cash continues in Sweden
DNB abandons digital currency initiative to focus on blockchain
Blockchain could offer better resilience for payment systems against cyber threats, says head of FMI policy; digital currency not the most “promising” use of blockchain
Riksbank outlines three visions of ‘e-krona’
Sweden’s central bank presents three cryptocurrency models as a solution to the payments conundrum
All central banks may have to consider crypto-currencies – BIS
BIS economists examine the case of central banks issuing own digital currency in both the retail and wholesale landscape
DLT not ‘necessary’ for central bank digital currency – BoE economist
BoE economist says there are many technological requirements for successful digital currency, but ultimately there are serious economic questions to answer too
Central banks unlikely to issue digital money, argues author
David Birch’s book discusses how communities could be at the heart of the new electronic monetary system
IMF paper backs issuance of central bank digital currencies
Fund finds large benefits to issuing own digital currency in terms of cost savings and efficiency gains, but issues around distribution remain
Panellists divided on merits of central bank digital currency
Sweden and Singapore unsure whether digital currencies will supersede cash in the near future; fintech innovation has the potential to increase competition in financial services
Pure DLT systems not yet suitable for wholesale payments – Bank of Canada
The current state of distributed ledger technology makes it too inefficient to run as a pure system, though elements could still be useful, researchers say; details of RTGS project emerge
New paper examines central bank digital currency models
Bank of Canada experiment proves distributed ledger networks can be used to settle payments; paper examines the difference between retail and wholesale models