image credit: Unsplash

US mulls CBDC options in international race to advance payment systems

April 20, 2021

As nations across the globe launch studies into the potential benefits and mechanics of central bank digital currencies (CBDCs), many questions remain regarding the coins’ policy implications, said Bank Policy Institute (BPI) CEO Greg Baer.

“A central bank digital currency is not simply paper currency in digital form: its adoption would have profound consequences for the U.S. financial system and economy,” Baer wrote in a working paper published this month. “It could transform the place of the central bank, and the government more generally, in our society.”

Read More on Payments Dive