CBDC – the next milestone in the evolution of payments?
Written by Chris Glennie Partner at CMS Law and formerly at The Bank of England.
Introduction
In an ever changing payments landscape, the interest in central bank digital currencies (CBDC) has grown considerably. According to a survey conducted by the Bank for International Settlements (BIS), CBDC is being considered by nine out of ten central banks. In fact, certain countries such as Jamaica and the Bahamas have already launched a CBDC. But what is a CBDC? Put simply, it is a digital form of fiat money issued by a central bank. It can generally either be a...
Written by Chris Glennie Partner at CMS Law and formerly at The Bank of England.
Introduction
In an ever changing payments landscape, the interest in central bank digital currencies (CBDC) has grown considerably. According to a survey conducted by the Bank for International Settlements (BIS), CBDC is being considered by nine out of ten central banks. In fact, certain countries such as Jamaica and the Bahamas have already launched a CBDC. But what is a CBDC? Put simply, it is a digital form of fiat money issued by a central bank. It can generally either be a...
