CBDC to make steady progress in 2022 as authorities tackle policy issues
Monday 31 January 2022 – Vol.13 Ed.5.1
Commentary: Fed keeping strictly neutral on CBDC as others plough ahead
By Lewis McLellan in London
The US Federal Reserve published its discussion paper last week in which it laid out the conditions a digital dollar would have to satisfy. Elsewhere, the Monetary Authority of Singapore is redefining these conditions as technical features. Introducing CBDCs does pose new challenges and bring new risks, but so does inaction. The rest of the world will make its own decisions. The US risks being left out.
Read the full commentary on the website.
Commentary: UK to press on with digital pound in 2022
By John Velissarios and Jannah Patchay
The House of Lords economic affairs committee published its report in January 2022 appearing to pour lukewarm water on the concept of retail CBDC. It is notable that the report represents less a directive and more the posing of a set of questions to be answered. Many of these have been covered in the Bank of England’s publications. CBDC will take time to implement. We expect less hype in 2022, but more concrete intent to materialise the benefits it can bring.
Read the full commentary on the website.
