The G7 committee discussed central bank digital currencies (CBDCs) and cryptocurrency asset transfer regulations, emphasizing the need for transparency, rule of law, sound economic governance, cybersecurity, and data protection. They welcomed the IMF’s ongoing work on a CBDC Handbook and acknowledged potential drawbacks, such as privacy concerns and increased centralization.
Search Results for: CBDC Handbook
Unlocking the Potential of Offline CBDCs: Balancing Privacy, Security, and Financial Inclusion
The BIS Innovation Hub has published a handbook to assist central banks in implementing offline CBDC technology, aiming to advise on security measures, risks, privacy considerations, and resilience options. The guide highlights the potential benefits of enabling offline use for CBDCs in achieving public policy objectives aligned with central banks’ mandates.
Exploring Offline CBDC Payments: Balancing Privacy, Fraud, and Accessibility
The Bank for International Settlements (BIS) explores offline central bank digital currency (CBDC) payments and their potential risks, including counterfeit threats and privacy issues, in a collaborative project with Consult Hyperion. The BIS emphasizes the importance of interoperability, risk management systems, and collaboration between public and private sectors for secure and reliable digital currency environments.