{"id":42684,"date":"2021-05-18T13:22:39","date_gmt":"2021-05-18T10:22:39","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=42684"},"modified":"2025-08-31T00:19:52","modified_gmt":"2025-08-30T21:19:52","slug":"fitch-cbdcs-will-strengthen-oversight-of-the-payments-sector","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/fitch-cbdcs-will-strengthen-oversight-of-the-payments-sector\/","title":{"rendered":"Fitch: CBDCs will strengthen oversight of the payments sector"},"content":{"rendered":"<p>The introduction of central bank digital currencies (CBDCs) will bring benefits, but may disrupt the functioning of the financial system. These conclusions are contained in the <a href=\\\"https:\/\/www.fitchratings.com\/research\/banks\/china-leads-on-central-bank-digital-currency-17-05-2021\\\" target=\\\"_blank\\\" rel=\\\"noreferrer noopener\\\">report<\/a> by the Fitch rating agency.<\/p>\n<p>Among the advantages, analysts cited digitisation of operations, financial inclusion, strengthened oversight of the payments sector, and the fight against oligopolies of private companies.<\/p>\n<p>The emergence of new payment instruments will intensify monitoring of AML\/CFT compliance. Authorities will gain a new tool to implement stimulus programmes or provide aid in the event of natural disasters, the experts added.<\/p>\n<p>Fitch attributed the risks of launching national digital currencies to a sharp outflow of funds from bank deposits into CBDCs. In the experts&#8217; view, this would weaken the role of banks as financial intermediaries. Analysts also noted cybersecurity threats.<\/p>\n<p>According to Fitch, active research and the launch of pilot projects indicate the imminent appearance of digital currencies.<\/p>\n<p>PwC named <a href=\"https:\/\/forklog.com\/en\/news\/pwc-bahamas-and-cambodia-lead-cbdc-development-ahead-of-china\">the Bahamas and Cambodia<\/a> as leaders in developing retail CBDCs.<\/p>\n<p>According to Raiffeisenbank, by 2025 <a href=\"https:\/\/forklog.com\/en\/news\/raiffeisen-bank-by-2025-10-of-countries-will-have-their-own-digital-currencies\">10% of countries<\/a> will implement their own digital currencies.<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CBDCs will bring benefits but could disrupt the financial system, according to Fitch&#8217;s report.<\/p>\n","protected":false},"author":1,"featured_media":42685,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,1095,1198,2102],"class_list":["post-42684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-cbdc","tag-crypto-payments","tag-fitch-ratings"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=42684"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42684\/revisions"}],"predecessor-version":[{"id":42686,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42684\/revisions\/42686"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/42685"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=42684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=42684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=42684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}