Central bank digital currency definition

Central bank digital currency means a digital

Central bank digital currency means a digital currency, a digital medium of exchange, or a digital monetary unit of account issued by the United States Federal Reserve System, a federal agency, a foreign government, a foreign central bank, or a foreign reserve system, that is made directly available to a consumer by such entities. The term includes a digital currency, a digital medium of exchange, or a digital monetary unit of account issued by the United States Federal Reserve System, a federal agency, a foreign government, a foreign central bank, or a foreign reserve system, that is processed or validated directly by such entities.

Central bank digital currency means any digital Fiat Currency issued by a Central Bank or other monetary authority.

Examples of Central bank digital currency in a sentence

• Central bank digital currency and the future of monetary policy.Technical report, National Bureau of Economic Research.Brainard, L.

• Central bank digital currency, loan supply, and bank failure risk: a microeconomic approach.

• Central bank digital currency remuneration in a world with low or negative nominal interest rates.

• Central bank digital currency (CBDC) is a proposal to make central bank deposit accounts available to everyone.

• Discussion Topics:• Definition of money• Central bank digital currency (CBDC)• Elimination of physical cash• Committee action9:01 AM Senator Bob Paulson, District 3, Minot, North Dakota, introduced SB 2392 and testified in favor.

• Central bank digital currency: Central banking for all?’ Review of Economic Dynamics.

• INTRODUCTION‌ Central bank digital currency (CBDC), also called sovereign digital currency (SDC), is the digital version of sovereign currency issued by an economy’s monetary authority.

• Central bank digital currency: Opportunities, challenges and design, 2020.

• Notices delivered by any other means shall be deemed given and received upon actual receipt of the above specified address of the addressee.

• Central bank digital currency in historical perspective: Another crossroad in monetary history (No. w29171).

More Definitions of Central bank digital currency

Central bank digital currency means any digital Fiat Currency issued by a Central

Central bank digital currency means a digital currency, a digital medium of exchange,

Central bank digital currency means a digital currency, a digital medium of exchange, or a digital monetary unit of account issued by the Board of Governors of the Federal Reserve System, a federal agency, that is processed, validated, or made directly available to a consumer by such entities.

Central bank digital currency means a digital currency, digital medium of exchange, or digital monetary unit of account issued by the federal reserve or another federal agency, a foreign government, a foreign central bank, or a foreign reserve system that is made directly available to a consumer by the entity and that is processed or validated directly by the entity;

Central bank digital currency means a digital form of

Central bank digital currency or “CBDC” means a digital form of a sovereign jurisdiction’s (e.g., nation’s) fiat currency issued and regulated by the central bank. It is designed to provide consumers and businesses with convenient, secure, and accessible financial transactions. CBDCs can reduce cross-border transaction costs, provide lower-cost options for those using alternative money transfer methods, and allow central banks to implement monetary policies to promote stability, control growth, and influence inflation. There are two types of CBDCs: wholesale, which would primarily be used by financial institutions; and retail, which consumers and businesses would use. CBDCs are distinguishable from Cryptocurrencies because CBDCs are issued and controlled by a central sovereign authority (such as a central bank). The central governing authority may program and regulate CBDCs to implement specific monetary policies or enhance prevention of financial crimes such as money laundering, tax evasion, and the financing of terrorism. Many countries worldwide are exploring or have already begun implementing CBDC initiatives, including the United States, the United Kingdom, Canada, Brazil, Russia, India, and China. The widespread adoption of CBDCs could eventually replace cash and require all transactions to be recorded digitally and tied to identification. China has made aggressive efforts to deploy a CBDC (the digital renminbi or yuan) with an express intent to expand China’s influence in international markets, but recent trials have not attracted strong public adoption not only because of technical failings but also due to fears that Beijing intends to use the technology to exert greater state control over individuals and private financial transactions. The Commission notes that while there may be benefits from the adoption of CBDGs as noted above, CBDGs also pose many significant risks. In a January 2022 Report, the U.S. Federal Reserve has identifies these risks to include: providing unprecedented capability to governments to compile data about every user’s financial transactions (enabling risks of potentially extensive government surveillance of citizen behaviors); potentially destabilizing the current financial system by reducing traditional private banking deposits and reserves; creating pressures that could exacerbate runs against private banks in times of crisis; and exposing the national payment system to enhanced operational and cybersecurity risks compared to existing payment services...