A group of central banks and BIS will discuss the possibility of issuing state cryptocurrencies in April

In mid-April, the heads of six central banks and the Bank for International Settlements (BIS) will holdmeeting in Washington to discuss the possibility of creating your own digital currencies.

According to a Nikkei report, the plannedThe meeting is the first of a new group of central banks created last month amid growing concerns among financial authorities about the rise in popularity of regulated digital currencies. The main concerns include Facebook's Libra stablecoin and China's digital yuan.

According to the report, central banks plandiscuss how digital currencies can simplify international payments, and consider the security measures that may be required when issuing and using them.

“It is quite natural to think about how to dointernational transactions more convenient", — Bank of Japan Deputy Governor Masazumi Wakatabe said on Wednesday, Nikkei reports.

 

Among the largest economies, China is now closerjust to launch a state digital currency. The People's Bank of China is actively testing its digital yuan. Now other central banks, including the US Federal Reserve, have become more serious about the possibility of issuing their own digital currency. This is partly driven by a desire to avoid falling behind China if it launches a globally used digital currency that can rival the dollar's international status.

According to Nikkei, the leadership of six bankswill prepare its conclusions on the concept of state cryptocurrency before the meeting of leaders in April at an international conference in Washington. The group will prepare an interim report by June, and a final progress report will be published in the fall.

Let us remind you that at the end of January the deputyGovernor of the Bank of Japan Masayoshi Amamiya announced his readiness to issue a state cryptocurrency if there is widespread public demand.

</p></p>