The Promise & Peril of Central Bank Digital Currencies

The Promise & Peril of Central Bank Digital Currencies
(Tolga Akmen/Pool Photo via AP, File)
With China and others venturing into a realm once inhabited by private cryptocurrencies, there will be increasing pressure on the United States, Europe, and others to follow. But before everyone rushes in, policymakers would do well to consider the foreseeable risks and how they should be managed.
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