LONDON (Reuters) - Developing national digital currencies are at risk due to a lack of legal powers to issue them in most of the world, the head of the global central bank umbrella body, the Bank for International Settlements, warned on Wednesday.
While countries generally have laws on banknotes, coins and credit balances, an IMF paper in 2020 showed that close to 80% of central banks are either not allowed to issue a digital currency under their existing laws, or the legal framework is unclear.
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