{"id":64258,"date":"2022-07-11T18:47:12","date_gmt":"2022-07-11T15:47:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=64258"},"modified":"2025-09-06T13:26:57","modified_gmt":"2025-09-06T10:26:57","slug":"bis-urges-international-cooperation-on-cbdc-development","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bis-urges-international-cooperation-on-cbdc-development\/","title":{"rendered":"BIS urges international cooperation on CBDC development"},"content":{"rendered":"<p>The Bank for International Settlements (BIS) urged countries to cooperate at early stages of developing national digital currencies (CBDCs). This is necessary to facilitate cross-border operation of the system, <a href=\\\"https:\/\/www.bis.org\/publ\/othp52.htm\\\">the document says<\/a>.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;To promote coexistence with other forms of money and payment instruments and a prudent level of CBDC deployment, compatibility with systems not related to CBDC, both domestically and abroad, is of fundamental importance,\\&#8221; the experts said.\\<\/p>\n<\/blockquote>\n<p>According to them, central banks may either agree on a set of common standards or use different \\&#8221;bridging\\&#8221; systems. The BIS acknowledged that there is no universal solution.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;Because central banks have different motives for studying or developing CBDC, they are likely to use different CBDC schemes and cross-border mechanisms. The report serves as a tool for the central banks to assess how best to use CBDC for cross-border payments in the context of their own objectives,\\&#8221; the BIS stressed.<\/p>\n<\/blockquote>\n<p>According to the authors of the document, international cooperation and coordination in the development of national digital currencies are \\&#8221;necessary conditions\\&#8221;.<\/p>\n<p>In June, BIS experts described <a href=\"https:\/\/forklog.com\/en\/news\/bis-says-cbdcs-will-be-the-foundation-of-future-monetary-systems\">CBDC as the foundation of monetary systems of the future<\/a>.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank for International Settlements (BIS) urged countries to cooperate at early stages of developing national digital currencies (CBDCs). This is necessary to facilitate cross-border operation of the system, the document states.<\/p>\n","protected":false},"author":1,"featured_media":64259,"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":[1430,1095],"class_list":["post-64258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bis","tag-cbdc"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/64258","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=64258"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/64258\/revisions"}],"predecessor-version":[{"id":64260,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/64258\/revisions\/64260"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/64259"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=64258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=64258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=64258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}