Agustin Carstens, the head of the Bank for International Settlements (BIS), has stated that cryptocurrencies have lost the “battle” against fiat currency. During a recent speech, Carstens acknowledged the benefits of digital currencies but ultimately argued that their lack of stability, association with illicit activities, and limited acceptance make them unlikely to replace traditional currencies in the foreseeable future.
Escape 9-5 is the go-to source for all the latest news and information about central bank digital currencies (CBDCs). Our team of expert journalists and analysts provide in-depth coverage on the latest developments in the world of CBDCs, from their inception to their implementation. We aim to provide a comprehensive understanding of CBDCs, their benefits and challenges, and the impact they will have on the global financial system.
We cover everything from government announcements and regulatory developments to the latest technological advancements and their implications. Our focus is on providing our readers with accurate and unbiased information, so they can make informed decisions about their investments and the future of money.
Central Bank Digital Currencies (CBDCs) are gaining attention worldwide as countries explore the benefits of issuing digital versions of their fiat currencies. The development of CBDCs offers increased financial inclusion, improved payment efficiency and security, but also presents challenges including privacy concerns and displacement of traditional banks.
The Bank of England has dismissed the notion that its recently proposed “Digital Pound” would be anything like existing cryptocurrencies. Speaking at a conference in London, a high-ranking official from the central bank stated that the digital pound was a fundamentally different concept and would be subject to different regulations and oversight. The Digital Pound, …