With Central Bank Digital Currencies a point of focus across the globe, a number of countries’ banking authorities have jointly produced a document discussing the currency type at length.
The Bank for International Settlements told Cointelgraph in a statement that a group of seven central banks and the BIS had collaborated on the report, “identifying the foundational principles necessary for any publicly available CBDCs to help central banks meet their public policy objectives.” The BIS is a global institution helping out national central banks.
CBDCs have been a hot topic in 2020, with a number of countries expressing interest in the asset type. China has pushed forward with plans for its CBDC, the digital yuan, although China’s central bank did not contribute to the report. China is in the midst of testing its digital asset, and has completed approximately $162 million USD worth of digital yuan transactions.
The Bank of England, the U.S. Federal Reserve and the Bank of