6 Central Banks Form Digital Currency Use Case Working Group
The working group will pool research into CBDCs.
The outgoing governor of the Bank of England highlighted the potential risks to monetary governance if a central bank digital currency were to be launched in the U.K.
Governments need to research digital currencies so they can strike a balance with private issuers, said the BoE's chief cashier.
Analysts from the U.K.'s central bank said private currencies could work alongside any future CBDC initiative if they offered real utility.
Speculation clogs up blockchains, making them harder to use and ultimately less valuable, a working paper suggests.
Financial stability was a key factor in the Bank of England's decision to hold stablecoin payment systems to the same regulatory standards as existing payment chains.