Earlier this month, Benoit Coeure, a well-known central bank policymaker, sounded an alarm for central banks to act now on minting their own central bank digital currencies (CBDCs).
In a speech, the former European Central Bank economist who leads innovation at the Bank of International Settlements (BIS) warned that rapidly mushrooming cryptocurrencies will challenge the business models of international banking — if monetary authorities don’t quickly act.
As China moved on Friday to…
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