Oct 25, 2020 Guest(s): David Erfle Kitco News Contributor
At a panel hosed by the International Monetary Fund earlier this week, Federal Reserve Chair Jerome Powell said that 80% of central banks around the world are exploring the idea of issuing central bank digital currency (CBDC), although the U.S. Fed has not made a decision to follow suit at this time.
Powell's statement echoes a research report released by the Bank for International Settlements (BIS) in January which stated that currently 80% of central banks are engaged in developing in CBDC, up from 70% last year.