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BIS puts CBDCs at centre of future monetary system
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The report decries the structural limitations of crypto and decentralised finance (DeFi), outlining the inherent risks in their design.
The BIS notes that recent market turmoil and the collapse in the prices of major stablecoins are reminders that "crypto is not sound money".Rather, a digital version of money issued by the central bank could provide for many of the same features offered by cryptocurrencies and stablecoins while building on a strong foundation of trust.
Read more on finextra.comAbout this in other media
BIS compares projects to transfer central bank digital currencies across borders cointelegraph.com /3 days ago
Rail strikes: city centres quieter as people heed advice to avoid travel theguardian.com /3 days ago
BIS: 90% of Central Banks are researching the utility of CBDCs cointelegraph.com /3 days ago
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