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BIS says future is digital currency, not crypto

The global financial institution that supports central banks has a new blueprint for the world's monetary system, and it's not crypto-based.

An illustration of a metaphor: the central bank as a tree trunk supporting a diverse ecoystem
An illustration of a metaphor: the central bank as a tree trunk supporting a diverse ecoystem (AN/BIS)

BASEL, Switzerland (AN) — The global financial institution that supports central banks has a new blueprint for the world's future monetary system, and it's not based on crypto.

The future, says the Swiss-based Bank for International Settlements, will be built around central bank digital currencies, or CBDCs, which are digital representations of central bank-issued money.

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