It is unacceptable that unclear or outdated legal frameworks could hinder their deployment, Agustin Carstens general manager of the Bank for International Settlements said.
under existing laws or they have legal frameworks which lack 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," Carstens said at a conference in Switzerland. Central banks around the world have been investing in exploring and addressing both the technical and operational requirements of a CBDC, he added. In 2022, 93% of central banks were engaged in some form of CBDC work, a
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