BIS Chief Agustin Carstens Urges Governments to Clear the Path for CBDCs
In the fast-evolving world of digital currencies, the General Manager of the BIS , Agustin Carstens , has stepped into the spotlight, urging governments to pave the way for Central Bank Digital Currencies (CBDCs) . Speaking at the BISIH-FSI conference in Switzerland on September 27, Carstens made a compelling case for the urgent establishment of a legal framework that would foster the creation and integration of CBDCs into the financial landscape. Carstens didn't mince words when he expressed his concerns about the potential roadblocks that an outdated or unclear legal framework could pose to the implementation of CBDCs. He emphasized that it's simply unacceptable for such ambiguity to stand in the way of progress. Citing a revealing report from the International Monetary Fund (IMF) , Carstens highlighted a startling statistic: approximately 80% of central banks are either prohibited from issuing digital currency by existing laws or find themselves entangled in