Central banks in no rush to issue e-money – BIS Survey

Dhwani Mehta FXStreet

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.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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