BIS’ Agustin Carstens Calls on Countries to set up Legislation for CBDC Deployment

Close to 80% of central banks are either not allowed to issue a CBDC under existing legislation or they have a legal framework which lacks clarity on this matter, a 2020 paper by the International Monetary Fund said. “This needs to be rectified. The public rightly demands forms of money that meet their needs and expectations,” he said at a conference in Switzerland.