Central banks face key decisions on digital currency, says BIS


LONDON (Reuters) – Central banks should make “basic” decisions on cross-border entry for a digital model of their foreign money to function a method of cost successfully, a committee on the Bank for International Settlements mentioned on Monday.

“Central banks should make essential decisions on the entry of non-residents and overseas monetary establishments to central financial institution digital currencies (CBDCs), in addition to guaranteeing multinational interoperability, to totally harness the potential for CBDCs to boost cross-border funds,” the BIS committee mentioned in a press release.

(Reporting by Huw Jones; Editing by Catherine Evans)

Source link