[ad_1]
© Reuters. File photo: The headquarters of the Bank for International Settlements (BIS) seen in Basel, Switzerland, March 18, 2021. REUTERS/Arnd Wiegmann
2/2
Mark Jones
LONDON (Reuters)-The Bank for International Settlements, the International Monetary Fund and the World Bank jointly called for global cooperation on central bank digital currencies on Friday.
Approximately 90% of the world’s central banks are currently considering creating a digital version of their currency, which raises questions about how they will operate and interoperate.
“CBDCs (central bank digital currencies) provide an opportunity to start with a’whiteboard’. It is important for central banks to consider cross-border aspects,” said Jon Cunliffe, Chairman of the Payment and Market Infrastructure Committee and the Bank of England’s Deputy Governor for Financial Stability Said in the report prepared for the G20 meeting in Italy.
“The impact of CBDC, even if it is only used for domestic use, will transcend national boundaries,” added Tobias Adrian, a financial adviser and director of the International Monetary Fund’s Monetary and Capital Markets Department.
According to the report, through various degrees of integration and cooperation, the facilitation of international payments with CBDCs can be achieved, from basic compatibility with common standards to the establishment of international payment infrastructure.
It stated that interoperability is essential, and multilateral cooperation is also needed to address the potential macro-financial consequences that CBDC may cause.
Converged Media Fusion Media or anyone related to Fusion Media will not be liable for any loss or damage caused by relying on the data, quotations, charts, and buy/sell signals contained in this website. Please fully understand the risks and costs associated with financial market transactions. This is one of the most risky forms of investment.
[ad_2]
Source link
