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The new participants in the European Central Bank’s DLT tests include major financial institutions.
There's a greater chance of a wholesale CBDC being issued within six years than a retail one, according to the report.
The BOJ has long been seen as a major source of uncertainty for financial markets, including cryptocurrencies.
Stablecoins' widespread usage and frequent instability could lower the effectiveness of central bank monetary policies, Rhee Chang-yong said.
They also want the government to tweak plans to make sure the CBDC’s design won’t preclude the possibility of paying interest on the digital pound.