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🏦 G7 Says CBDCs Should "Do No Harm" To Central Banks

The financial leaders of the G7 met yesterday to discuss CBDCs.

Hey Blockster, Central bank digital currencies (CBDCs) have been a hot topic among governments lately. And for a valid reason. CBDCs retain most of the benefits of decentralized cryptocurrencies, which include low-cost and instantaneous transactions, a lack of intermediaries, and highly secure networks. At the same time, unlike Bitcoin, Ethereum, and other community-governed digital assets, CBDCs offer increased governmental oversight over user transactions, great flexibility to execute monetary policy and more efficient measures to tackle financial crime. After realizing these benefits, governments worldwide have entered into a race to create their central bank digital currencies. While the Bahamas already rolled out the Sand Dollar as the world's first CBDC, China has taken the leading role among major economies, with its digital yuan project is expected to launch in early 2022. On the other hand, some nations have taken a more cautious stance in this matter yet actively research CBDCs. This includes the members of the G7 – the United States, the United Kingdom, Canada, France, Germany, Italy, and Japan – that yesterday met to discuss the topic. As a result of the Washington meeting, G7 financial leaders endorsed 13 different public policy principles related to CBDC implementation. At the same time, they stated that, while central bank digital currencies should "do no harm" to central banks and meet rigorous standards, strong international cooperation is needed for their effective implementation into the existing financial system. To learn the details of the story, check out this Blockdesk article. Ready to read more exciting cryptocurrency stories? Look no further, as we have collected the most important ones for you right from Blockdesk: Cardano, Cosmos, Solana, And Litecoin Bound For Impressive End-Of-Year Gains – Cardano (ADA), Cosmos (ATOM), Solana (SOL), and Litecoin (LTC) have all recorded impressive gains this year. However, as the bull run is far from over, they are expected to further boost their ROIs by the end of 2021. Indian Crypto Exchange Allows Users To Buy Pizza, Ice Cream And Coffee Using Bitcoin – Some argue that it is not beneficial to pay for food with cryptocurrency. However, in practice, many businesses are taking advantage of this opportunity to score more sales, attract new customers, and discover alternative payment channels. Now, the oldest crypto exchange in India has introduced a solution that allows users to buy pizza, ice cream, and coffee with Bitcoin. The Number Of Crypto Millionaires Is Increasing – How Did They Do It? – Those who have got into crypto in the early days and held their investments for long enough could likely grow their wealth exponentially. However, as the number of crypto millionaires is increasing every day, it has become clear that the industry still holds excellent opportunities to profit. The U.S. Overtakes China As The Leader In Global Bitcoin Mining Hashrate – A few years ago, China dominated the Bitcoin mining industry. However, as the direct consequence of Chinese government crackdowns, the United States has now become the primary destination for BTC miners. These are all the stories we have for you today. However, before the week ends, we will come back tomorrow with a new collection. Stay tuned! Cheers, The Blockster Team © 2021 Blockster. All rights reserved This message was sent to lelakikelasmenengah@gmail.com by info@blockster.com Queensway, Midtown, Giblartar GX11 1AA, Gibraltar Unsubscribe | Manage Subscription | Forward Email

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