{"id":29898,"date":"2020-10-09T21:02:42","date_gmt":"2020-10-09T18:02:42","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=29898"},"modified":"2025-08-27T19:31:21","modified_gmt":"2025-08-27T16:31:21","slug":"bis-and-seven-central-banks-outline-core-cbdc-requirements","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bis-and-seven-central-banks-outline-core-cbdc-requirements\/","title":{"rendered":"BIS and seven central banks outline core CBDC requirements"},"content":{"rendered":"<p>The European Central Bank (ECB), the Bank of England, the U.S. Federal Reserve, the Bank of Canada, the Bank of Japan, along with the central banks of Sweden and Switzerland, in collaboration with the Bank for International Settlements have prepared a special report. It outlines the fundamental principles and key characteristics of central bank digital currencies (CBDCs).<!--more--><\/p>\n<p style=\\\"margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block;\\\"><a style=\\\"text-decoration: underline;\\\" title=\\\"View othp33 on Scribd\\\" href=\\\"https:\/\/www.scribd.com\/document\/479380435\/othp33#from_embed\\\">othp33<\/a> by <a style=\\\"text-decoration: underline;\\\" title=\\\"View ForkLog's profile on Scribd\\\" href=\\\"https:\/\/www.scribd.com\/user\/456422024\/ForkLog#from_embed\\\">ForkLog<\/a> on Scribd<\/p>\n<p><iframe loading=\\\"lazy\\\" id=\\\"doc_21281\\\" class=\\\"scribd_iframe_embed\\\" title=\\\"othp33\\\" src=\\\"https:\/\/www.scribd.com\/embeds\/479380435\/content?start_page=1&#038;view_mode=scroll&#038;access_key=key-i3qyYRPDF3XfaemRb5mP\\\" width=\\\"100%\\\" height=\\\"600\\\" frameborder=\\\"0\\\" scrolling=\\\"no\\\" data-auto-height=\\\"false\\\" data-aspect-ratio=\\\"0.7068965517241379\\\"><\/iframe><\/p>\n<p>The report does not contain assessments of the feasibility of issuing CBDCs or mentions of such intentions.<\/p>\n<blockquote>\n<p>\u201cCentral banks will decide after consulting governments and stakeholders,\u201d the document explains.<\/p>\n<\/blockquote>\n<p>The report mentions three fundamental principles of CBDCs and the associated infrastructure:<\/p>\n<ul>\n<li>The central bank must not put monetary or financial stability at risk;<\/li>\n<li>National digital currency should coexist with and complement existing forms of money;<\/li>\n<li>CBDC should promote innovation and efficiency.<\/li>\n<\/ul>\n<p>The document lays out the key components of national digital currencies. They include convertibility, convenience, security, speed, scalability, and legal robustness.<\/p>\n<p>In October, the People&#8217;s Bank of China <a href=\"https:\/\/u1f987.com\/en\/news\/china-announces-first-public-distribution-of-digital-yuan\">will conduct<\/a> the first distribution of the digital yuan among the population. The PRC <a href=\"https:\/\/u1f987.com\/en\/news\/china-plans-to-challenge-dollar-dominance-with-a-cbdc\">intends to<\/a> outpace other countries and be the first to issue a CBDC, including to push the dollar off the world stage.<\/p>\n<p>China&#8217;s <a href=\"https:\/\/u1f987.com\/en\/news\/ecb-steps-up-work-on-digital-euro\">successes have intensified<\/a> the ECB&#8217;s efforts to roll out a digital euro. The Fed <a href=\"https:\/\/u1f987.com\/en\/news\/fed-expands-cbdc-research\">has expanded<\/a> its CBDC research, and the Bank of Japan has established a working group to study central bank digital currencies.<\/p>\n<blockquote class=\\\"wp-embedded-content\\\" data-secret=\\\"KQXMIHVtPv\\\">\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/how-and-why-central-banks-create-digital-currencies-cbdcs\">How and why central banks are creating digital currencies (CBDC)<\/a><\/p>\n<\/blockquote>\n<p><iframe loading=\\\"lazy\\\" class=\\\"wp-embedded-content\\\" sandbox=\\\"allow-scripts\\\" security=\\\"restricted\\\" style=\\\"position: absolute; visibility: hidden;\\\" title=\\\"\u00ab\u041a\u0430\u043a \u0438 \u0437\u0430\u0447\u0435\u043c \u0446\u0435\u043d\u0442\u0440\u043e\u0431\u0430\u043d\u043a\u0438 \u0441\u043e\u0437\u0434\u0430\u044e\u0442 \u0446\u0438\u0444\u0440\u043e\u0432\u044b\u0435 \u0432\u0430\u043b\u044e\u0442\u044b (CBDC)\u00bb \u2014 ForkLog\\\" src=\\\"https:\/\/u1f987.com\/exclusive\/central-bank-digital-currencies-cbdc-china-dcep\/embed#?secret=kV8rzqoszJ#?secret=KQXMIHVtPv\\\" data-secret=\\\"KQXMIHVtPv\\\" width=\\\"500\\\" height=\\\"282\\\" frameborder=\\\"0\\\" marginwidth=\\\"0\\\" marginheight=\\\"0\\\" scrolling=\\\"no\\\"><\/iframe><\/p>\n<p>Subscribe to ForkLog&#8217;s news on Telegram: <a href=\\\"https:\/\/t.me\/forkloglive\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog FEED<\/a> \u2014 the full feed of news, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The European Central Bank (ECB), the Bank of England, the U.S. Federal Reserve, the Bank of Canada, the Bank of Japan, as well as the central banks of Sweden and Switzerland, in conjunction with the Bank for International Settlements have prepared a special report. It presents the fundamental principles and key characteristics of central bank digital currencies (CBDCs).<\/p>\n","protected":false},"author":1,"featured_media":29899,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1430,1095,809],"class_list":["post-29898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bis","tag-cbdc","tag-central-banks"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=29898"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29898\/revisions"}],"predecessor-version":[{"id":29900,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29898\/revisions\/29900"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/29899"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=29898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=29898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=29898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}