China’s leader urges the G20 to develop universal standards for CBDCs

Participants in the G20 should discuss developing standards for central bank digital currencies (CBDCs) with an open and constructive approach, said Chinese President Xi Jinping.<\/p>\n

Speaking at the group’s virtual summit, he added that this would help address problems and risks appropriately, advancing the collective development of the international monetary system.<\/p>\n

Earlier, the head of China set for the country the goal of taking an active stance in developing international CBDC regulation.<\/p>\n

What is central bank digital currency (CBDC)?

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