Spain’s central bank is fast-tracking research on digital currency ‘s design and the economic implications of central bank digital currency (CBDC) introduction as per a four-year strategic plan released Friday.
- CBDC researchers will “consider different design proposals” and analyze digital currency’s financial and systemic risks for Spain.
- They will also study how “digital identification” relates to CBDC, the plan said.
- This “priority” research will begin this year and carry through the end of 2021.
- A member of the eurozone, the Bank of Spain cannot unilaterally introduce its own sovereign CBDC.
- However, the European Central Bank is currently mulling a digital euro through committee work that includes Spanish central bankers. The future of that work will be determined in mid-2021.
See also: Digital Euro Within Decade ‘Very Likely,’ Says Finland’s Chief Central Banker
Related Stories
- Digital Euro Within Decade ‘Very Likely,’ Says Finland’s Chief Central Banker
- Bank of Russia Considers Issuing Digital Ruble, Starts Public Consultations
- Spain Working on Bill to Force Crypto Holders to Disclose Assets, Gains
- Inside the Estonian CBDC Experiment That Could Shape the Digital Euro
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
