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Stakeholders must take digital cash lead as regulation beckons

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Stakeholders must take digital cash lead as regulation beckons

Tuesday 25 January 2022 – Vol.13 Ed.4.2

Commentary: CBDC must preserve defining features of physical money

By Andrew Slack in London

Physical cash is the only form of privacy-preserving currency that is accessible to all today. As sovereign issuers around the world contemplate the introduction of retail CBDC, stakeholders face a once-in-a-lifetime opportunity to steward this evolution. Digital cash should not only embody the fundamental attributes of its physical counterpart but also offer additional enhancements that can serve the emerging needs of society.

Read the full commentary on the website.

Commentary: Diem faces new challenges from US regulators

By Katie-Ann Wilson in London

In November last year, the President’s Working Group, comprised of the FDIC and OCC, gave recommendations to Congress on new legislation to regulate stablecoins which challenges the feasibility of Diem’s model. The Treasury under secretary for domestic finance, Nellie Liang, who spoke with DMI members on 20 January, has emphasised that ‘if Congress does not enact legislation, the regulators will try to use what authority they have.’

Read the full commentary on the website.

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