Central banks in no rush to issue e-money – BIS Survey
The latest survey conducted by the Bank for International Settlements (BIS) showed on Tuesday, most central banks are not in any hurry to issue a digital version of their currency after studies left them unconvinced of the merits of e-money.
Key Findings (courtesy Reuters):
“At this stage, most central banks appear to have clarified the challenges of launching a CBDC but they are not yet convinced that the benefits will outweigh the costs.
Responses from 63 central banks that represent over 90 percent of global economic output and 80 percent of the world’s population showed that much of the work done so far is “conceptual”.
Only five central banks have progressed to e-money pilot projects.”