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A bill filed in the South Carolina Senate would expressly exclude a central bank digital currency (CBDC) from the definition of money in South Carolina, creating potentially significant roadblocks to its use as such in the state.
Central bank digital currencies, like their crypto counterparts, are often solutions searching for a problem. However, in Southeast Asia there are some real use cases.
This difference is at the heart of the war against cash, in which the retail version of central bank digital currency (CBDC; e₹-R) has played, so far, an innocuous role. Launched just over a year ago, e₹-R is the digital form of cash and is interchangeable at par with interest-earning 'bank money' maintained in savings, current and other liquid accounts.
With a robust domestic payments system in place, a central bank digital currency has limited appeal among resident Indians. Where it holds considerable promise is in cross-border payments
On Wednesday, it published a report laying out the clearest vision to date of what a potential central bank digital currency might look like