The U.K. central bank governor believes existing cryptocurrencies will fail over the longer term due to their robust privacy features.
Retail users may have to wait in much of the world, however.
Sweden’s central bank deputy governor recently updated the public on the country’s CBDC exploration.
With the declared intent of reducing risk, the moves look to cut new investors off from opportunities to get out of the ruble.
CBDCs are one of the major topics in crypto this year, and the experts that Cointelegraph spoke to have a lot to say about it.
Preliminary talks are underway to begin testing the e-CNY in the special administrative region of Hong Kong.
Despite ambitions of overtaking the dollar, China’s central bank will have a hard time monitoring all the transactions involved in a CBDC, though commercial banks might lend a hand.
Stablecoins and CBDCs and their related issues of privacy and surveillance lead this week’s Law Decoded.
While there is an unclear future for digital currency development under Joe Biden’s presidency, China is leading the race.
BIS Innovation Hub head Benoît Cœuré stressed the importance of maintaining multiple payment options beyond just CBDCs.