Here’s a beautiful turn of phrase from a Chinese central bank executive talking about its forthcoming national digital currency: “controllable anonymity.”
FBI Director Christopher Wray declined to swing at a gentle pitch over the plate for more regulation of cryptocurrency anonymity at a recent Senate Homeland Security hearing.
China has spent five years preparing to launch the digital yuan, which might happen in a matter of months. But bankers and financial industry professionals surveyed at an industry conference in October still believe the United States will be the first to create a global digital currency.
Central bank digital currencies are all the rage, but making them work is far easier said than done, according to a new report. While there are many potential benefits from a central bank digital currency (CBDC), they also bring serious financial risks, according to IBM Blockchain and the Official Monetary and Financial Institutions Forum (OMFIF).