Central Bankers Explore Response to Bitcoin: Their Own Digital Cash

Amid the rising popularity of bitcoin and other private digital currency technologies, central bankers around the world are studying the possibility of issuing virtual money backed by the government itself. The transformation could cut costs across the payment system and give authorities more control over their money supply—but it may also raise security and privacy concerns.

To date, no central banks have embraced issuing digital…

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Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. The information does not constitute investment advice or an offer to invest.