The Bank of England’s statement said the group will explore “CBDC use cases; economic, functional and technical design choices, including cross-border interoperability; and the sharing of knowledge on emerging technologies.”
The G20 dealt Facebook’s Libra cryptocurrency ambitions another blow on October 18, agreeing to a ban stablecoins until global regulations are in place.
Facebook’s wounded Libra Association formally voted itself into existence on October 14, electing a board and choosing officers. The ceremony was overshadowed by the loss of seven original members including Mastercard and Visa.
Less than 12 hours after it was announced, Facebook’s new libra cryptocurrency was already causing the kind of concern in European financial circles that even Bitcoin has not been able to generate.