CBDCs could need global regulation, EU commissioner says
2022/11/07 13:41
According to CoinDesk, central bank digital currencies (CBDCs) could require a network of international deals to stop state-backed money from infringing on other countries’ sovereignty, European Union Commissioner Paolo Gentiloni said on Monday.
The bloc is currently considering a digital version of the euro – but needs to confront design issues such as how it will work for cross border payments.
“How do you avoid the risk of infringing the sovereignty of other jurisdictions through a digital currency… while developing a digital currency with global ambition, as the digital euro will be?” said Gentiloni, who is responsible for economics at the European Commission, the EU's executive arm. Gentiloni was speaking at a conference on the digital euro, organized by the Commission and the European Central Bank.
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