What is happening?
The Bank for International Settlements (BIS), along with seven other central banks, has published a report looking at the creation of general purpose central bank digital currencies (CBDCs). This report is not necessarily advocating CBDCs: indeed, at the press conference, it was stressed that this is a sovereign decision. However, what the report does is put together a set of principles, which the BIS believes are key to creating a ‘safe’ CBDC.
