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Central Banks Wary Of Virtual Currency, BIS Study Warns

Law360, London (January 8, 2019, 2:29 PM GMT) -- Most of the world’s central banks are experimenting with ways to replace cash with digital currencies, but only a few have made “firm plans” to issue their own crypto-assets within the next decade, according to a report released on Tuesday.

Experts with the Bank for International Settlements, who surveyed 63 central banks covering 80 percent of the global population, found that most  countries remain unconvinced that the benefits of virtual currencies outweigh the costs.

“Only a limited number of central banks are proceeding to the pilot stage,” the report’s two authors, who work with the global forum of central banks, said....

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