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Just out G30 (chaired by @Tharman_S) on “DIGITAL CURRENCIES AND STABLECOINS - Risks, Opportunities, and Challenges Ahead”. Follows the taxonomy of CBDC architectures set out in our March 2020 BIS QR feature (indirect, direct, and hybrid CBDC)... [1/n]
https://group30.org/images/uploads/publications/G30_Digital_Currencies.pdf
![Just out G30 (chaired by @Tharman_S) on “DIGITAL CURRENCIES AND STABLECOINS - Risks, Opportunities, and Challenges Ahead”. Follows the taxonomy of CBDC architectures set out in our March 2020 BIS QR feature (indirect, direct, and hybrid CBDC)... [1/n] https://group30.org/images/uploads/publications/G30_Digital_Currencies.pdf](https://pbs.twimg.com/media/EeLWZ1vXgAM7_05.png "Just out G30 (chaired by @Tharman_S) on “DIGITAL CURRENCIES AND STABLECOINS - Risks, Opportunities, and Challenges Ahead”. Follows the taxonomy of CBDC architectures set out in our March 2020 BIS QR feature (indirect, direct, and hybrid CBDC)... [1/n] https://group30.org/images/uploads/publications/G30_Digital_Currencies.pdf")
https://group30.org/images/uploads/publications/G30_Digital_Currencies.pdf
described in more detail here:
https://www.bis.org/publ/qtrpdf/r_qt2003j.pdf
The G30 report makes the following recommendations on these architectures... [2/n]
![described in more detail here: https://www.bis.org/publ/qtrpdf/r_qt2003j.pdfThe G30 report makes the following recommendations on these architectures... [2/n]](https://pbs.twimg.com/media/EeLXqzjX0AAelce.jpg "described in more detail here: https://www.bis.org/publ/qtrpdf/r_qt2003j.pdfThe G30 report makes the following recommendations on these architectures... [2/n]")
https://www.bis.org/publ/qtrpdf/r_qt2003j.pdf
The G30 report makes the following recommendations on these architectures... [2/n]
"Policy consideration of a direct CBDC should take into account the possible concentration of risk, disintermediation [...], and excessive government control of credit allocation, which would be counterproductive in today’s diverse modern economies." [3/n]
"...Before implementing any type of CBDC, its impact on various aspects of the economy should be evaluated very carefully, among them its effect on monetary policy transmission, on the safety and integrity of the financial system..." [4/n]
"..., and on the emergence of alternative options such as indirect/hybrid CBDCs."
