As reported by Cointelegraph, the Bank for International Settlements (BIS) and other central banks issued a paper which included their “ongoing policy perspectives” towards the retail central bank digital currency (rCBDC). Supposedly, the new publication is the fifth report written by previous authors.
“Seven central banks and the BIS take forward their work on retail central bank digital currencies. A new report summarises ideas and perspectives on policy options and practical implementation issues,” the Bank for International Settlements, tweeted.
Sources revealed that the paper marked seven legal issues, including if rCBDC would be equal to cash or a new form of money. The argue about privacy issues related to CBDCs, is also included in the paper, Cointelegraph highlighted.
Furthermore,“Certain policy objectives may only be achieved if CBDC adoption reaches, or exceeds, a certain level. This may, in turn, influence the functionality, solution design and use cases for CBDC,” Cointelegraph concluded.
(With insights from Cointelegraph)
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