Thursday September 24, 2020

Comment: Central banks must keep up with shift to digital currencies

New payment technologies will move quickly in the post-pandemic world and, whether they like it or not, monetary authorities cannot afford to be left behind

5th August, 2020
The Covid-19 crisis has accelerated the long-term move away from cash and towards digital currencies

As the Covid-19 crisis accelerates the long-term shift away from cash, official discussions about digital currencies are heating up.

Between the impending launch of Facebook’s Libra and China’s proposed central-bank digital currency, events today could reshape global finance for a generation. A recent report from the G30 argues that if central banks want to shape the outcome, they need to move fast.

Much is at stake, including global financial stability and...

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