Central banks in no rush to issue e-money – BIS Survey
|The latest survey conducted by the Bank for International Settlements (BIS) showed on Tuesday, most central banks are not in any hurry to issue a digital version of their currency after studies left them unconvinced of the merits of e-money.
Key Findings (courtesy of Reuters):
“At this stage, most central banks appear to have clarified the challenges of launching a central bank digital currency (CBDC) but they are not yet convinced that the benefits will outweigh the costs.
Responses from 63 central banks that represent over 90% of global economic output and 80%of the world’s population showed that much of the work done so far is “conceptual”.
Only five central banks have progressed to e-money pilot projects.”
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