Central banks are focusing on domestic CBDC use, even though the implications go beyond borders.
People with more security concerns about fiat money may seek information about crypto, but ultimately decide not to invest.
Cryptocurrencies are "speculative assets rather than money" used in many cases to facilitate financial crime, the central bank organization said.
The committee proposed splitting crypto assets into two groups: those eligible for treatment under existing frameworks and those that are not.
The committee said it will publish a consultation document later this week.
"Digital nature alone" will not be enough to give any one CBDC an edge as an international reserve asset, the BIS general manager asserts.
Central bank digital currencies would largely benefit countries if they work together to eliminate traditional banking frictions, a research note said.
Bitcoin maximalists cried foul at the central banker's prognostications.
Central banks remained adamant private stablecoins do not factor into their CBDC calculus.
The new platform was announced as part of the BIS Innovation Hub's priorities and programs for 2021.
Almost 50 monetary authorities and central banks are researching and developing wholesale or retail CBDCs. What does 2021 hold in store?
A Swiss experiment on how central bank money can be linked to markets built on distributed ledger technology (DLT) yielded positive results.
The need to regulate global stablecoins like libra doesn't mean authorities can't embrace innovation, according to according to a BIS working paper.
BIS is planning a proof-of-concept trial of a CBDC in collaboration with the Swiss central bank.
The seven central banks, along with BIS, have released a report setting out agreed core objectives that must be met by national digital currencies.