Legal mandates for CBDC issuance remain rare among central banks
Some await parliamentary approval as framework examination commences in their jurisdictions
The number of institutions with a legal mandate to issue central bank digital currencies (CBDCs) remains low, the Fintech Benchmarks 2024 finds.
Two-thirds (65.7%) of 35 central banks say such laws are lacking in their jurisdictions. Only 12 (34.3%) respondents say they are vested with the authority to issue a CBDC. The statistics are broadly in line with findings from the 2023 benchmarks when a clear majority (63.6%) of 32 central banks also lacked the legal authority to issue a CBDC.
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