Crypto, Stablecoins May Pose 'Threat to Financial Stability' if Widely Used: BIS Survey

Despite the recent turmoil in the crypto market, the number of central banks planning to launch central bank digital currencies (CBDCs) has doubled since last year. A survey by the Bank for International Settlements (BIS) found that almost a quarter of all central banks globally are currently piloting a retail CBDC, with over two dozen set to roll out by 2030. However, not all central banks are convinced of the necessity of a state-backed digital currency, with some indicating they do not intend to issue one in the near future.