Smaller countries such as Greece, Latvia, Lithuania and Estonia would be hit the hardest.
“Central banks are considering a variety of [multi-CBDC] arrangements,” BIS researchers wrote.
BCB said the timeframe for a CBDC depends on the evolution of its current projects and the international landscape.
A central bank official said Nigeria has been researching CBDCs for two years.
Christina Segal-Knowles played down concerns that the traditional banking model would be undermined.
The banks will experiment with cross-border settlements of two wholesale CBDCs and a French digital financial instrument on a distributed ledger technology platform.
While a Senate Banking Committee hearing ostensibly focused on central bank digital currencies, bitcoin’s role in the ecosystem drew much of the attention.
Hong Kong's central bank is aiming to "future-proof" the financial center for the growth of CBDCs as part of its "Fintech 2025" strategy.
The paper focuses on the effects of private stablecoins on the cost and availability of lending and the challenges for monetary policy.
Bank of Ghana Gov. Ernest Addison also warned against “unregulated” cryptocurrencies.
Maintaining users' privacy is a key design focus, according to Massad. "We're not China."
A bipartisan bill would require the U.S. Treasury secretary to publish a report on the dollar's role in the global economy, as well as how central bank digital currency efforts are proceeding.
The future of CBDCs, stablecoins and untethered cryptocurrencies was all up for grabs on an action-packed day at CoinDesk's flagship event.
Jessica Turner, the storied payment network’s fintech executive, reflects on mainstream crypto adoption at Consensus 2021.