Oct 16, 2020 at 18:26 UTCUpdated Oct 16, 2020 at 19:39 UTC.Spain's central bank is fast-tracking research on digital currency 's design and the economic implications of central bank digital currency introduction as per a four-year strategic plan released Friday.
CBDC researchers will "Consider different design proposals" and analyze digital currency's financial and systemic risks for Spain.
They will also study how "Digital identification" relates to CBDC, the plan said.
This "Priority" research will begin this year and carry through the end of 2021.A member of the eurozone, the Bank of Spain cannot unilaterally introduce its own sovereign CBDC.However, the European Central Bank is currently mulling a digital euro through committee work that includes Spanish central bankers.
The future of that work will be determined in mid-2021.Disclosure.
Bank of Spain to Weigh Digital Currency Design Proposals, 'Implications' Through 2021
Published on Oct 16, 2020
by Coindesk | Published on Coinage
DeFi dev Andre Cronje's new Ethereum project surged 15,000% in 12 hours
Finance founder Andre Cronje began testing one of his latest projects.
Here's why Ethereum bulls don't care about Friday's $40M ETH options expiry
Although Ether price is below $400, data show traders are not worried about Friday's options expiry.
Japan is the 'leading candidate' for Ripple's new headquarters: SBI Holdings CEO
Japan is firming up at the most likely new headquarters for Ripple if it leaves its San Francisco offices.
Mongolia's largest bank to offer crypto-related services
Mongolia's largest bank will soon begin offering crypto services including custody, remittance, deposits, loans, and crypto-asset management.