https://www.taxtmi.com/news?id=24252 CBDC is sovereign fiat currency in digital form, issued by the central bank and exchangeable one to one with existing currency; its design choices (retail/wholesale use, ledger type, validation method, distribution architecture and anonymity) determine operational effects. CBDC can reduce settlement risk and payment costs and provide a public alternative to private virtual currencies, but raises legal and financial stability issues-possible bank disintermediation, implications for monetary policy if interest features are introduced, and cybersecurity and inclusivity concerns-requiring a technology neutral enabling statute and phased implementation. en-us Fri, 23 Jul 2021 10:43:57 +0530 Fri, 23 Jul 2021 10:43:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=24252 CBDC is sovereign fiat currency in digital form, issued by the central bank and exchangeable one to one with existing currency; its design choices (retail/wholesale use, ledger type, validation method, distribution architecture and anonymity) determine operational effects. CBDC can reduce settlement risk and payment costs and provide a public alternative to private virtual currencies, but raises legal and financial stability issues-possible bank disintermediation, implications for monetary policy if interest features are introduced, and cybersecurity and inclusivity concerns-requiring a technology neutral enabling statute and phased implementation. News - Fri, 23 Jul 2021 10:43:57 +0530 https://www.taxtmi.com/news?id=24252