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19 September 2021

BIS Asks Central Banks to Urgently Develop CBDCs to Compete With Crypto Assets – Regulation Bitcoin News

BIS Asks Central Banks to Urgently Develop CBDCs to Compete With Crypto Assets – Regulation Bitcoin News


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BIS Asks Central Banks to Urgently Develop CBDCs to Compete With Crypto Assets – Regulation Bitcoin News.

The head of the Bank of International Settlements (BIS) Innovation Hub, Benoît Cœuré, has urged central banks to act now on central bank digital currencies (CBDCs) to compete with initiatives in the private sector, including cryptocurrencies.

Benoît Cœuré, head of the BIS Innovation Hub, talked about central bank digital currencies (CBDCs) at the Eurofi Financial Forum, Ljubljana, Friday.

He called on central banks to urgently develop CBDCs to compete with payment initiatives in the private sector, including cryptocurrencies.

According to the Atlantic Council’s CBDC tracker, 81 central banks are currently exploring their own digital currencies.

Among the central banks currently studying CBDCs is the European Central Bank (ECB), which recently announced the official launch of a two-year investigation of a digital euro.

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