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
Central bank digital currency (CBDC) could increase the efficiency of current payment infrastructure while reducing costs to central banks, a paper published by the International Monetary Fund has said.
In the paper, published in June, the fund examines how digital technology has thus far transformed the financial services landscape in an attempt to understand what challenges consumers and regulators could face in the future.
The paper focuses on distributed ledger technology (DLT) and the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on CBDC
BIS to hand over Project mBridge to central banks
CBDC platform does not help Brics countries evade sanctions, says Agustín Carstens
CBDC design key to maintaining financial stability – IMF paper
Macro-prudential tools unlikely to be enough to offset risks from issuance of digital currencies
Central banks should collaborate on cross-border CBDCs – Nagel
Bundesbank president talks of “historic opportunity” to improve payments and avoid risk
Central bank digital currencies must be user-friendly – ECB study
To be widely adopted, CBDCs will need to combine best aspects of existing payment methods
Previous CBDC research based on outdated assumptions – ECB paper
Authors say rejecting digital cash would have adverse unintended consequences
Brazil announces new themes for phase two of CBDC pilot
BCB selects private companies to test implementation of “smart contract” for drex currency
Bank of Russia expands CBDC pilot
Central bank says second phase will involve far greater numbers of people and firms than initial stage
Kyrgyzstan opens public consultation on laws governing CBDC
Amendments to legislation affecting digital som are due to come into force in 2027