On May 18, the Bank of England released a staff working paper, laying out various scenarios of possible risks and financial stability issues of central bank digital currencies (CBDCs). Continue reading Bank of England Issues Working Paper on Central Bank Digital Currencies
The Bank of Korea is set to announce details of an ongoing study into cryptocurrencies next month that includes a plan exploring the possibility of issuing a central bank digital currency (CBDC). In a statement on Wednesday, the Bank of Korea confirmed it was in the “early stages” of studying cryptocurrencies and the implications of issuing them as a central bank, the Korea Times reported. Continue reading Bank of Korea Hints at Issuing a Central Bank Digital Currency
According to Swiss National Bank (SNB) governing board member Andréa Maechler, private cryptocurrencies have advantages over central bank digital currencies (CBDC), Cointelegraph auf
Deutsch reported Sunday, April 8.
The SNB board member told an audience in Zurich that private-sector digital currencies are better and less risky than nationally-issued versions. Furthermore, she added that a government-issued
cryptocurrency could increase the risk of so-called “bank runs” – when a large number of customers withdraw funds from a bank based on concerns about the bank’s solvency.
A form of central bank issued digital currency (CBDC) could go live this year, according to Antony Lewis, R3 director of research, cash and CBDC strategy, speaking on panel of experts at the Deconomy conference this week at the Walkerhill Hotel in South Korea. Continue reading Central Bank Digital Currency Could Go Live This Year