New money: Central banks lay out operating manual for digital cash
By Marc Jones and Tom Wilson
LONDON (Reuters) – A bunch of central banks sketched out a doable operating manual for digital cash on Thursday as they objective to strike a stability between sustaining with cryptocurrencies and points that the model new know-how may upend enterprise lenders.
Worried that the explosion of bitcoin and its ilk may weaken their administration of cash, policymakers from Beijing to Washington are exploring central monetary establishment digital currencies, commonly known as CBDCs.
And whereas a widely-used digital dollar or euro ought to be years away, work by central banks is gathering tempo as prospects increasingly ditch cash and notes in favour of digital funds on debit or financial institution playing cards and cellphones.
The seven central banks – along with these inside the United …