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Central banks face key decisions on digital currency, says BIS

LONDON (Reuters) – Central banks will have to make “fundamental” decisions on cross-border access for a digital version of their currency to serve as a means of payment effectively, a committee at the Bank for International Settlements said on Monday.

The tower of the Bank for International Settlements is seen in Basel

LONDON (Reuters) – Central banks will have to make “fundamental” decisions on cross-border access for a digital version of their currency to serve as a means of payment effectively, a committee at the Bank for International Settlements said on Monday.

“Central banks must make critical choices on the access of non-residents and foreign financial institutions to central bank digital currencies (CBDCs), as well as ensuring multinational interoperability, to fully harness the potential for CBDCs to enhance cross-border payments,” the BIS committee said in a statement.

(Reporting by Huw Jones; Editing by Catherine Evans)

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